#banking News

Over 50 Percent of Square Merchants Ready to Accept Bitcoin, Survey Shows

Bitcoin-Friendly Square Obtains Conditional FDIC Merchant Lending License

March 19, 2020 by Osato Avan-Nomayo at Regulation

The U.S. Federal Deposit Insurance Corporation (FDIC) has granted conditional approval for Square to function as an Industrial Loan Company (ILC). FDIC Grants Square’s Deposit Insurance Application According to a press release issued on Wednesday (March 18, 2020), the FDIC Board approved Square’s deposit insurance application to create a “de...

Smartphone with Ripple coming out of the screen

Thailand’s Oldest Bank Launches Mobile Banking with Ripple

January 10, 2020 by Ashwath Balakrishnan at Altcoins

Siam Commerical Bank, a 112-year-old financial institution, announced a mobile banking interface that facilitates cross-border transactions at a lower cost. Asia is the world leader in mobile banking with China and Thailand boasting 86 percent and 67 percent mobile penetration respectively. This is an important move for Ripple as they...

U.K.: Ziglu Cryptocurrency Bank Eyes 2020 Debut

January 6, 2020 by Aisshwarya Tiwari at Regulation

Mark Hipperson, the former head of Barclays, recently shared his plans of launching a new digital banking venture dubbed Ziglu in the U.K. in 2020. This, according to a report by San Francisco Tribe, January 6, 2020. Ziglu to Bolster the U.K. Financial System The U.K. has recently found itself...

Ripple (XRP) to Onboard Brazillian Banks In 2020

December 30, 2019 by Aisshwarya Tiwari at Altcoins

In a bid to further its business footprint in South America, blockchain-based payments company Ripple Inc. Is mulling inking more partnerships with Brazilian banks in 2020. This, according to a report by The Block, December 30, 2019. Ripple Looking to Tap the Brazilian Market Ripple Inc., the distributed ledger technology...

Beijing Warns Residents That Cryptocurrency Trading Isn’t Legal

December 27, 2019 by Ashwath Balakrishnan at Regulation

Amid the blockchain hype that has emerged in China after an endorsement from President Xi Jinping, China has warned its residents not to take this for a sign of cryptocurrency legalization. Various regulatory bodies in Beijing have come forth to issue warnings to firms and individuals not to trade in...

Leading Decentralized Investment Banking Group Coinstreet Appoints New CTO and Senior Advisor

December 23, 2019 by Edoardo Vecchio at Blockchain

Leading fintech and digital asset consultancy firm Coinstreet Partners has announced that Samuel Reid and Pietro Doran have been appointed Chief Technology Officer (CTO) and Senior Advisor of the group respectively. According to the news published on PRNewswire on December 23, Reid will be responsible for everything related to the...

Ripple’s Insitutional Arm Grows Along with XRP Integrated Liquidity Service

November 7, 2019 by Ashwath Balakrishnan at Altcoins

RippleNet, the network of financial institutions and payment providers using the Ripple ledger, has hit a milestone of 300 institutional customers from 45 different countries. On top of that, On-Demand Liquidity (ODL), which uses XRP to eradicate pre-funding capital requirements, has seen 7x growth from the end of Q1 2019...

China’s Central Bank Promotes Blockchain Utility

November 7, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

China’s central bank and financial regulator, the People's Bank of China (PBoC) has endorsed the revolutionary distributed ledger technology (DLT). The apex bank has made it clear that blockchain tech has real use cases in the financial sector, as it significantly reduces the risks involved in trade finance, reports Reuters...

Vietnam: TPBank Joins RippleNet to Enable Blockchain-Enabled Cross-Border Payments

November 5, 2019 by Aisshwarya Tiwari at Blockchain

Vietnam-based TPBank (Tien Phong Commercial Bank) has become the latest member to join Ripple Inc.’s blockchain-powered enterprise-grade payments network RippleNet. This, according to a report by Yahoo! Finance, November 4, 2019. Ripple On-Boards Vietnamese Bank to the RippleNet Network Ripple’s distributed ledger technology-enabled (DLT) remittance network – RippleNet - has...

Facebook Heavily Criticized in Congressional Hearing, Zuckerberg Evades Specific Questions

Mark Zuckerberg to Testify Before House Committee; Here’s What You Should Know

October 23, 2019 by Ashwath Balakrishnan at Altcoins

There is less than a day for Mark Zuckerberg to formally provide testimony in front of the Congressional financial services committee. Facebook's head honcho is preparing himself to vehemently defend Libra, but also to admit to Facebook's past mistakes, according to the New York Times, October 22, 2019. Prelude to...

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