#banking News

IMF Explores the Synergies Between Privately Backed Stablecoins and CBDCs

IMF To Warn Central Banks That Payment Narratives are Shifting Away From Them

October 17, 2019 by Ashwath Balakrishnan at Bitcoin

Central bankers and finance ministers are set to come together for the World Bank annual meeting, and the IMF has some strong advice for them: regulate digital currencies or watch your monetary monopoly lose power. Sources at Bloomberg believe the IMF has finally understood that the shift from a bank-based system to...

Putin checking out some bitcoin russia flag

Russia Remains Crypto-Aware but Doesn’t see the need for a National Digital Currency

October 11, 2019 by Ashwath Balakrishnan at Altcoins

President of the Russian Central Bank, Elvira Nabiullina, believes there is no immediate need for Russia to explore launching a sovereign digital currency. Despite having studied and researched these topics, the central bank doesn't believe there are any obvious benefits to the economy, as reported by TASS, October 10, 2019...

French Billionaire Calls to France in Support of Facebook’s Libra Cryptocurrency

October 11, 2019 by Edoardo Vecchio at Altcoins

Xavier Niel, a French billionaire businessman active in the telecommunications and technology industry who is best known as the founder of the French Internet service provider Iliad, wrote an article for LesEchos expressing his support for the Facebook crypto project, Libra, October 11, 2019. Don't Fear the Libra Libra will...

Hand Pointing to a Flag of HashCash in Africa

HashCash Building DLT Solution for a Global Bank

October 7, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

HashCash Consultants, a software firm that claims to be developing distributed ledger technology (DLT) solutions that allow enterprises to facilitate real-time cross-border payments, has inked a strategic partnership deal with an unnamed global bank for the development of core banking solutions aimed at increasing the speed, security and efficiency of...

Coinbase pointing to UK Bank Welcome back coinbase

Coinbase Reinstates GBP Bank Deposits and Withdrawals

October 4, 2019 by Ogwu Osaemezu Emmanuel at Bitcoin

Coinbase crypto exchange has announced that it has reinstated GBP bank deposits and withdrawals for its United Kingdom-based customers. The exchange has also added full support for a host of popular altcoins including basic attention token (BAT), augur (REP), lumens (XLM), XRP and ZRX, according to a blog post on...

Blockchains breaking apart regular money decentralized

Traditional Financial Companies Acknowledge the Value of Decentralized Finance (DeFi)

September 30, 2019 by Ashwath Balakrishnan at Blockchain

Decentralized finance (DeFi) refers to the use of decentralized protocols to transfer value and access financial services in a permissionless manner. Amongst the latest trends is an incredibly exciting new shift toward DeFi. Forbes reports that traditional financial companies are starting to explore opportunities in the space, September 29, 2019. ...

R3, Infosys, and Banks Trial Blockchain-Based Trade Finance System

September 23, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

Infosys, an Indian corporation that provides banks with universal digital banking solutions, has partnered with financial institutions across 19 countries to trial R3’s distributed ledger technology (DLT) based solution for trade finance, reports livemint, September 23, 2019. Leveraging Blockchain Technology Infosys, the creators of Finacle, a core banking software used...

OCBC Joins JP Morgan’s Blockchain Consortium

September 20, 2019 by Ashwath Balakrishnan at Blockchain

Overseas Chinese Banking Corporation (OCBC) has joined JP Morgan's Interbank Information Network (IIN) as the first Singaporean bank in the consortium. Business Times reported that OCBC joins a long list of 112 APAC banks that have joined this network, September 20, 2019. Singapore in on JPM Blockchain Service Close to...

Wells Fargo Plans Blockchain-Based Internal Settlement Services

September 18, 2019 by Anthonia Isichei at Blockchain

The world’s fourth-largest bank, Wells Fargo, announced plans to use its digital token to pilot internal settlement services, which would run on its distributed ledger technology (DLT) platform. Per the press release September 17, 2019, the pilot project is expected to take off in 2020 and would initially focus on...

Blockchain standing triumphantly outside of the Bank of Baroda building

Indian International Bank Relies on Blockchain to gain Market Traction

September 11, 2019 by Edoardo Vecchio at Blockchain

During an interview with MoneyControl.com, Akhil Handa, Head of Fintech & Partnerships and Mobile Banking at Bank of Baroda, explains how the bank is keeping up with the time thanks to digital innovations such as blockchain. Laying Fertile Ground for Innovation Bank of Baroda (BoB), the second most innovative public...

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