#banking

Everex partners with Myanmar’s Shwe Bank to Provide Migrants with Blockchain-Based Remittance Services

August 4, 2018 by Nuno Menezes at Blockchain, Business, Finance, News, Regulation

On July 31, 2018, Everex and Myanmar’s Shwe Bank announced a partnership to provide a blockchain-based solution to migrants. The deal will pave the way for the introduction of a blockchain-based remittance service that will allow migrants from Myanmar and Thailand to access cheaper remittance services. Remittance Market Overhaul This...

China’s Decision to Choose Ethereum Over its Own Blockchain NEO is Monumental

China: Prominent Bank Issues $300,000 Loan Using Blockchain Technology

August 2, 2018 by contributor at Blockchain, Finance, News

On July 31, 2018, the Agricultural Bank of China (ABC) revealed it had successfully completed a $300,000 loan using a private blockchain. Loan Issuance Via Blockchain As reported by Chinese outlet Financial News, ABC’s Guizhou bank branch was the facilitator of this development. The bank issued the loan against a...

CLS, IBM, Citi, Barclays Form Partnership to Launch Blockchain App Store for Banks

August 1, 2018 by Priyeshu Garg at Blockchain, Finance, News

A new blockchain-based platform is on the horizon, and it is the result of a cooperation between foreign exchange settlement provider CLS, enterprise software giant IBM, and nine financial institutions, including big names such as Citigroup and Barclays, the companies said in a statement on July 30, 2018. LedgerConnect: Blockchain...

Reforming the Financial System with Nuo Network

Defining Competition in the Upcoming Blockchain and Cryptocurrency Sector

July 25, 2018 by Liam J Kelly at Altcoins, Bitcoin, Blockchain, Commentary, News

In traditional markets, policymakers began aggressively ousting anticompetitive economic behavior following the rise of John D. Rockefeller and Standard Oil at the turn of the 20th century. Some of these displays have been made highly public, while others have slipped under the radar. Others, however, have toppled entire economies. Nonetheless,...

Blockchain Technology Flying around earth like superman

Blockchain Technology Could Save the World from Another Global Economic Crisis Says Former JPMorgan Big Shot

July 25, 2018 by Ogwu Osaemezu Emmanuel at Blockchain, Finance, News

While many see nothing good in bitcoin and other cryptocurrencies, many others believe distributed ledger technology (DLT) will revolutionize the world. Pang Huadong, the former vice president of the North American investment banking division at JPMorgan, is one of those people. Huadong, on July 22, 2018, said that blockchain technology...

Introducing Marble: World’s First DAO Bank Running on Ethereum Blockchain

July 19, 2018 by Priyeshu Garg at Altcoins, Blockchain, Ethereum, Finance, News, Tech

The world's first completely decentralized blockchain banking operation made up of only smart contracts has launched on the Ethereum network. The open-source banking platform called Marble was unveiled in a blog post on July 17, 2018. The announcement revealed that Marble would use smart contracts to provide funding to low-risk...

Thailand Announces State-Backed “Bond Coin” to Facilitate Faster Security Settlements and Clearance

July 18, 2018 by contributor at Blockchain, Finance, News

The Thailand government is swiftly taking steps to adopt and implement cryptocurrencies and blockchain technology within its administration. Local reports on July 16, 2018 confirmed that a prominent securities body in Thailand is developing a digital token to facilitate settlement clearing of corporate bonds. Bond Coin to Streamline Current Processes...

Blockchain-based-Trade-Finance-to-Officially-Launch-in-Hong-Kong

Hong Kong Launches Blockchain-based Trade Finance

July 17, 2018 by John Iadeluca at Blockchain, Finance, News

The Hong Kong central bank has announced that its official launch next month will include a blockchain-built trade finance platform for logging transactions and credentials, which will therefore be immutable. Although the platform in no way utilizes cryptocurrency, it will be one of the largest bank-related blockchain integrations of all...

TokenPay and Litecoin Foundation Acquire 9.9 Percent Stake in German Bank

July 13, 2018 by contributor at Adoption, Altcoins, Blockchain, Business, Finance, Investment, News

On July 10, 2018, Swiss cryptocurrency company TokenPay, in partnership with the Litecoin Foundation, acquired a 9.9 percent stake in Germany’s WEGBank AG with an option to purchase 90 percent of the latter’s business following relevant regulatory approvals. Augmenting Cryptocurrency Usage Announced on TokenPay’s blog, the blockchain development company detailed...

Leading Telecoms Firm Accelerating Blockchain Adoption in Europe

Introducing Remote Fintech Licensing- Lithuania Strives to Beat its Own Record

July 9, 2018 by Crypto Advocate at Blockchain, Business, Finance, News, Regulation

Whenever a company brings something innovative to an industry, that company is likely to be successful given that the innovative something works well. As such, Lithuania plans to set creative Fintech standards that will hopefully be adopted across the globe. Number one in the EU As countries continuously try to...

Square Banking Charter Application Withdrawn, Refile Imminent

July 7, 2018 by Robert DeVoe at Business, Finance, News

According to recent reports, Square, Inc. has just withdrawn their application for an industrial lending company (ILC) banking charter. This is not a permanent retraction, however, as the company has officially stated that they will file for the banking charter again at some point in the near future. Their reason...

The Impact of Brexit on the United Kingdom's Crypto Sector

Spain, Brazil and U.K. Likely First For Ripple-Powered Santander App

July 5, 2018 by Robert DeVoe at Altcoins, Blockchain, Business, Finance, News, Tech

In June 2018, Santander Bank, one of the largest banks in the world, announced that it would be deploying a Ripple-powered remittance app in various parts of the world. The app which is operated using Ripple Labs product called XCurrent will allow for same day settlements. Increasing Trust in Ripple...

Polish Citizens File Petition against Banks for Refusing Cryptocurrency-Based Businesses

July 4, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Finance, News, Regulation

Polish financial institutions have been doing everything within their power to shutter the operations of cryptocurrency exchanges as well as other Bitcoin-linked businesses in the region. While some firms such as BitBay have already migrated to countries with amenable crypto regulations, the Polish Bitcoin Association (PSB) has now filed a...

South Africa Tests Ethereum-based Interbank Payment System

June 30, 2018 by contributor at Blockchain, Ethereum, Finance, News

The South African Reserve Bank (SARB) concluded remittances tests on an Ethereum-based interbank payment platform called “Project Khokha.” South Africa’s Cryptocurrency Push A total of eight South African banks took part in the cryptocurrency-based tests, utilizing blockchain technology developed by Ethereum incubator ConsenSys Labs. Apart from the central bank itself,...

Rupee Withdrawals May Stop on Zebpay

June 26, 2018 by Pratik Makadiya at Bitcoin, Business, Finance, News, Regulation

Zebpay, a popular Indian cryptocurrency exchange, divulged that support for rupee withdrawals may cease, due to a directive issued by the Reserve Bank of India that prohibits banks from facilitating crypto business. RBI Directive Challenged by Indian Crypto Industry In its latest announcement, Zebpay stated that the Indian crypto...

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