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Blockchain Day Emirates • December 15, 2018

Blockchain Day Emirates – is an event that brings together the world’s leading visionaries, innovators, and thinkers to explore new…

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Tag: banks

Itaú Unibanco and Standard Chartered Launch Latin America’s First Blockchain Platform for Loans

Category: Altcoins, Blockchain, Business, News, Platform, Tech

Itaú Unibanco and Standard Chartered Launch Latin America’s First Blockchain Platform for Loans

Brazil’s Itaú Unibanco Holding bank and Standard Chartered have successfully concluded the development and testing of Latin America’s first blockchain-based proof of concept for loans, ZDNet reported on December 11, 2018. Latin America Gets Its First Blockchain-Based Loan Platform It seems that the bear market that has persisted in the crypto industry since the November 2018 has not affected the…

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HSBC, HKMA, and Ten Other Banks Join Forces to Launch Blockchain-Based Trade Finance Platform

Category: Blockchain, Exchange, Finance, News, Platform, Tech

HSBC, HKMA, and Ten Other Banks Join Forces to Launch Blockchain-Based Trade Finance Platform

HSBC, in partnership with Standard Chartered and ten other banks, rolled out a new blockchain-powered trade finance program called eTrade Connect on October 31, 2018. The new platform aims at removing unwarranted delays hampering the efficiency of international trade. Blockchain for Automating Trade Finance Process eTrade Connect builds on the services of twelve major global and domestic banks including HSBC,…

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Swiss-based Crypto Firm Smart Valor Gets Regulators’ Approval

Category: Altcoins, Business, News, Regulation

Swiss-based Crypto Firm Smart Valor Gets Regulators’ Approval

VQF, a self-regulatory organization under FINMA, has approved Smart Valor, a blockchain-powered decentralized marketplace for tokenized assets, to conduct business in Switzerland as a financial intermediary, Reuters reported on September 5, 2018. Smart Valor to Launch Crypto Investment Platform Smart Valor, a Swiss-based blockchain startup that claims to be a decentralized community-based marketplace where people can have access to tokenized…

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SolarisBank Begins Offering Services to Blockchain Companies

Category: Adoption, Altcoins, Bitcoin, Business, News

SolarisBank Begins Offering Services to Blockchain Companies

SolarisBank, a Berlin-based fintech company offering Banking as a Platform (BaaP) services, announced to start providing traditional banking services to crypto and blockchain companies from the European Economic Area (EEA). Solving the Problem of Crypto Companies’ Limited Banking Options Most traditional banking companies in Europe aren’t very keen on providing services to companies operating in the blockchain and cryptocurrency space…

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Banks Have Officially Lost to Crypto Says Former JPMorgan and BBVA Executive

Category: Altcoins, Bitcoin, Blockchain, Business, Finance, News

Banks Have Officially Lost to Crypto Says Former JPMorgan and BBVA Executive

Salvador Casquero, former JPMorgan Head of Scandinavian Interest Rates Trading and Head of FX Sales at BBVA, two of the largest banks in the world, has said that banks have officially lost the race of finance to crypto and rapidly emerging fintech companies. Fintech Takes Over Banks For decades, banks like JPMorgan, Goldman Sachs, BBVA, and Citibank have had absolute…

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Cryptocurrencies have Given Michael Novogratz a Second Opportunity

Category: Altcoins, Bitcoin, Blockchain, Finance, News

Cryptocurrencies have Given Michael Novogratz a Second Opportunity

Former Goldman Sachs executive Michael Novogratz has seen his fortune rise and fall in the traditional finance market several times. However, his bet on cryptocurrency in 2013  has paid off handsomely. According to a Forbes estimate, Novogratz is amongst the wealthiest people in the cryptocurrency sector,  with an estimated crypto-wealth of $700 million – $1 billion. Wall Street to Cryptocurrency…

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Cryptocurrency Exchange Buda Slams Colombian Banks after Account Closure

Category: Bitcoin, Blockchain, News, Regulation, Tech

Cryptocurrency Exchange Buda Slams Colombian Banks after Account Closure

Popular South American cryptocurrency exchange Buda criticized actions undertaken by Colombian banks leading to the sudden closure of its bank accounts without notice. Government Blocks What It Doesn’t Understand The event took place after three Colombian banks closed the accounts belonging to Chilean cryptocurrency platform Buda. The actions undertaken by Banco Bilbao Vizcaya Argentaria, Davivienda and Bancolombia prompted an immediate…

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Multi-Billion Dollar Logistics Giant DB Schenker to Use VeChain’s Blockchain Protocol

Category: Blockchain, News, Tech

Multi-Billion Dollar Logistics Giant DB Schenker to Use VeChain’s Blockchain Protocol

DB Schenker, a multi-billion dollar logistics behemoth with annual revenues of $23 billion, is collaborating with China-based blockchain project VeChain to establish an Internet of Things (IoT) and supply chain network on the blockchain. First Supply Chain Blockchain Application Commercially On June 12, 2018, VeChain Foundation announced it had co-developed an IoT-enabled blockchain network for enterprises with DB Schenker. As…

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Traditional Finance Industry is Spending $1.7 Billion Every Year on Building Blockchain

Category: Blockchain, Business, Finance, News, Tech

Traditional Finance Industry is Spending $1.7 Billion Every Year on Building Blockchain

According to a study by Greenwich Associates, a management consulting firm founded in 1972, the traditional finance industry spends more than $1.7 billion on a yearly basis on building blockchain-related protocols, platforms, and products. $10 Million a Year The budget of blockchain development by major banks and financial institutions has increased by around 67 percent on average since 2017. The…

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U.K. Asks Banks to Scrutinize Cryptocurrency Businesses, Does Not Consider Asset Class as Criminal

Category: Bitcoin, Blockchain, News, Regulation

U.K. Asks Banks to Scrutinize Cryptocurrency Businesses, Does Not Consider Asset Class as Criminal

The CEOs of several major banks in the U.K. received a letter from the country’s Financial Conduct Authority (FCA) over the potential risks when dealing with cryptocurrencies on June 11, 2018. Cryptocurrency Firms Pose Risk to Financial Framework As per details of the letter, institutional banks and financial service firms were formally notified of the implications of dealing with cryptocurrency…

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