Standard Chartered Claims First Yuan-Based Letter of Credit Issued on a Blockchain

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 […]

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R3 Corda Partners With Kaleido After Ethereum Startup Spins Out of ConsenSys

R3, 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. […]

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Central Bankers From Canada, Netherlands, Ukraine Call Blockchain Unnecessary for Digital Fiat

KYIV, 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, […]

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ING Bank Devises Privacy Fix for R3’s Corda Blockchain

ING, the Netherlands megabank blazing a trail with extra privacy measures for enterprise blockchains, has come up with such a solution for the Corda distributed ledger system built by R3.  Announced Tuesday at the annual developer conference CordaCon, ING has helped solve a security/privacy trade-off that currently bedevils Corda users. The bank’s blockchain team did […]

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Digital Securities Exchange Taps R3’s Blockchain for Post-Trade Activities

Digital securities startup Archax has inked a deal to use blockchain firm R3’s Corda Enterprise solution for handling post-trade activities on its exchange. Revealed Friday, Corda Enterprise was chosen for mopping up trades using distributed ledger technology to “reduce friction in the post-trade process.” Post-trade activities normally include the changing of ownership records, transfer of securities and […]

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Mastercard, R3 to Develop a Blockchain Cross-Border Payments Platform

Payments giant Mastercard is to develop a blockchain-powered cross-border payments platform in partnership with enterprise-focused blockchain firm R3. In an announcement on Wednesday, Mastercard said the two firms have inked a deal to “develop and pilot” the payments solution. It will initially be aimed at connecting faster payments schemes and banks backed by Mastercard’s clearing and […]

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