Tag: banking

In a major development, Citigroup posted a job ad – seeking talent with a background in bitcoin – on LinkedIn in early April. The position is for Citi’s anti-money laundering division. Banks Are Starting To Wake Up To Crypto Despite holding a negative viewpoint about digital assets – and publicly defaming cryptocurrencies – banks and financial institutions are secreting building…

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Blockchain technology, the building blocks of bitcoin and other cryptocurrencies, is slowly but steadily going mainstream. In recent times, many traditional financial institutions have been experimenting with the blockchain in a bid to eliminate the challenges of making cross-border transactions. Now, Santander is set to launch an international payment solution powered by Ripple. The Santander-Ripple Connection According to the Financial…

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In life, what goes around comes around; it is only a matter of time. The laws of nature have started hitting Jamie Dimon and his JPMorgan Chase & Co. bank hard as the firm has been dragged to court for allegedly charging customers exorbitant fees on bitcoin and cryptocurrency-related transactions. On February 3, 2018, customers of JPMorgan chase along with…

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Move over, Wall Street. Cryptocurrency is the new kid on the blockchain. And a tidal wave is ushering investment banking veterans to hop on the bitcoin bandwagon. Goldman Sachs executive Richard Kim has just joined Galaxy Digital, the cryptocurrency merchant bank founded by former hedge fund manager Mike Novogratz. Novogratz, who was once a partner with Goldman Sachs, is now…

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The Reserve Bank of India (RBI) recently banned banks from working with individuals or businesses dealing with digital currencies. On April 6, 2018, the State Bank of Pakistan (SBP) followed in same footsteps. The SBP mentioned in a separate statement that cryptocurrencies were no longer legal in Pakistan. According to Reuters, the SBP like the RBI told banks and other…

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In the wake of India’s recent cryptocurrency bank ban, billionaire bitcoin evangelist Tim Draper believes that this could be one of the most regressive moves made by the country. In early April, India announced that it had banned banks from dealing with cryptocurrency businesses, effectively cutting off money supply for anything related to that industry. However, Draper differs from this…

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At a time when things are not too rosy for the crypto ecosystem, and no one can say for sure when the markets will become green again, Russia’s Gazprombank is set to run a cryptocurrency pilot in crypto-friendly Switzerland. Gazprombank’s Crypto Ambition When many institutional investors are busy carrying out blockchain tests and shying away from virtual currencies, Russian media…

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Bitcoin and indeed the entire blockchain technology industry is seen as being a male-dominated field. In fact, the general narrative that describes the demographic distribution of the industry is one in which it is populated by Caucasian males between the ages of 18 to 40. BitPesa Since 2013 This gender divide isn’t strange when one considers that such similar demographic…

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The Kerala Blockchain Academy (KBA) of the Indian Institute of Information Technology and Management-Kerala (IIITM-K), is the first Indian institution to join the Hyperledger project hosted by the Linux Foundation. Transitioning a Workforce According to a recent press release, the KBA is now an associate member of the Hyperledger group along with the Cambridge Centre of Alternative Finance (University of…

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On March 19, 2018, the “Big Four” accounting firm PWC and Northern Trust, a U.S custody bank, have jointly announced the release of new tools to give private equity fund auditors fast access to data stored on its private blockchain. The move effectively lays the foundations for large-scale adoption of blockchain-based platforms by traditional businesses. Expanding a Client Base with…

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