Financial Industry News
Standard 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 […]
Continue ReadingR3, the company behind distributed ledger technology (DLT) platform Corda, is edging ever closer to Ethereum, with news of a partnership with blockchain-in-the-cloud startup Kaleido. The announcement comes following Kaleido’s emergence as a standalone company last month. The startup revealed Tuesday it was spun out of ConsenSys, the Ethereum-based venture studio founded by Joe Lubin. […]
Continue ReadingData privacy issues have been escalating in 2020 as personal data is increasingly being used to fight COVID-19. The Linux Foundation, a non-profit technology consortium, has today announced a new data privacy project featuring dozens of cross-industry giants like Mastercard and IBM. Called the ToIP Foundation, the new data trust coalition aims to provide a […]
Continue ReadingThe world’s second-largest stock exchange and capital markets technology company, Nasdaq, has entered a partnership with enterprise blockchain solutions platform, R3. R3 announced the partnership on April 29, 2020, stating that Nasdaq will use its blockchain software, Corda, among other services. Their intention is to help financial institutions easily build and deploy institutional-grade digital assets. […]
Continue ReadingJapan-based SBI Holdings announced on April 16 that it will begin using R3 blockchain-consortium technology for Forex Trading. This will be the first practical application of the Corda blockchain in the country. According to the announcement published in Nikkei Japan, the technology will be implemented in conjunction with a Tokyo-based systems management services firm called […]
Continue ReadingTim Grant, formerly the CEO of ConsenSys-backed startup DrumG Technologies, is to become head of business at Swiss blockchain-based stock exchange SDX. SDX, the digital asset trading venue being built from the ground up by Swiss stock exchange operator SIX Group, had been searching for a new leader to take over from interim CEO Thomas […]
Continue ReadingAs blockchain technology increasingly gains traction in the airline industry, another major international air company has announced a blockchain project. Flagship global airline KLM Royal Dutch Airlines is applying blockchain technology to facilitate intercompany settlements process with its subsidiaries. Part of one of the world’s biggest airlines, Air France-KLM, Royal Dutch Airlines has partnered with […]
Continue ReadingDistributed ledger tech provider R3 says it’s providing pension firms with the technology to build new blockchain-based identity solutions that could help savers reclaim some of the $48 billion in lost U.K. pension pots. According to Abbas Ali, the head of the New York firm’s digital identity unit, pension providers will be releasing their own […]
Continue ReadingKYIV, UKRAINE — Central bank digital currencies (CBDCs) have been a hot topic in blockchain circles recently, but central banks are lukewarm about blockchains. Representatives of a number of the world’s central banks discussed their CBDC projects last week in Kyiv, Ukraine. The one-day conference was arranged by the National Bank of Ukraine, or NBU, […]
Continue ReadingBCB Group, a European crypto-focused payment processor for the likes of major global crypto firms like Coinbase, has secured a license from British regulators. The United Kingdom’s Financial Conduct Authority (FCA) has officially approved the firm’s core subsidiary, BCB Payments, as an authorized payment institution (API), BCB Group announced on Jan. 29. The company is […]
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