Financial Industry News
Alfa-Bank, one of the largest private commercial banks in Russia, has joined a blockchain trade finance network backed by HSBC. According to an official announcement on Nov. 3, Alfa-Bank is the first Russian bank to become a member of Contour — a blockchain platform connecting the world’s major financial institutions like HSBC, ING and Citi. […]
Continue ReadingThe Bangladesh arm of HSBC, one of the world’s largest banks, has completed the country’s first cross-border blockchain trade finance transaction. According to a press release on Tuesday, the digitized letter of credit (LC) transaction brought a notable reduction in the processing time compared with traditional methods – down from the average of five to […]
Continue ReadingNews this week that R3 and IBM are working together raised eyebrows, since each entity has been on different and competing sides since the early days of enterprise blockchain. From next month, the commercial version of Corda (the version big banks and the like are paying R3 for) will be made available via IBM’s LinuxOne […]
Continue ReadingA group of former bankers building on R3’s public Corda Network are touting the first digital currency for that ecosystem, dubbed XDC. Announced Tuesday, the Cordite Society, a co-operative registered in the U.K., released the XDC crypto token on public Corda, the open-source version of R3’s network. The new regulation-friendly cryptocoin will open the door, […]
Continue ReadingStandard Chartered PLC, a British multinational banking and financial services company headquartered in London, England, has successfully leveraged blockchain technology to conduct Bangladesh’s first blockchain trade transaction, according to Newage on August 16. The Standard Chartered bank issued a Letter of Credit (LC) for the trade between garment exporter Viyellatex Ltd and Viyellatex Spinning on […]
Continue ReadingFrom LinkedIn: https://www.linkedin.com/pulse/collaboration-key-banque-de-france-digital-currency-initiative-treat We are living in a moment of incredible technology innovation that’s enabling greater collaboration, trust and resiliency. Entire ecosystems are moving away from traditional business models and exploring new ways of doing business. I’m very excited to announce that Accenture is continuing to drive innovation with central banks and core financial infrastructure in […]
Continue ReadingDAML, a major smart contact language designed for building business-level blockchain applications, has been integrated with R3’s blockchain. Developed by United States’ blockchain startup Digital Asset, DAML, or Digital Asset Modeling Language, is now available on R3 commercial blockchain platform, Corda Enterprise. A cross-platform alternative to Corda’s native programming language In order to bring the […]
Continue ReadingSwitzerland’s licensed crypto-first bank SEBA and Corda-based Digital Asset Shared Ledger (DASL) announced a new partnership on Wednesday letting the bank offer asset securitization services on Corda’s public network. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial […]
Continue ReadingThe Singapore Fintech Association and R3 have entered a partnership to provide startups in the SFA network with access to R3’s Corda blockchain. In an announcement on July 14, the SFA said that startups would receive support from R3’s Venture Development program, which provides a gateway into R3’s ecosystem for all pre-series A companies that […]
Continue ReadingStandard Chartered says it’s issued the first blockchain-based international letter of credit (LC) transaction using China’s national currency, the yuan. The London-based bank said earlier this week that the transaction, for a deal between Australian mining giant Rio Tinto and Chinese steelmaker Baosteel, was carried out over the blockchain trade finance network Contour. LCs are […]
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