banks

Minister Says India, Like Other Nations, Extremely Cautious on Libra

October 28, 2019
Finance Minister Nirmala Sitharaman has said that India — like many others, in his view — is showing a high degree of caution in regard to Facebook’s Libra. During last week’s 2019 Annual Meetings of the International Monetary Fund and the World Bank in Washington, D.C. — which included a discussion of the Libra project

Alfa-Bank, Commerzbank Pilot Cross-Border Payments on R3’s Marco Polo

October 15, 2019
Alfa-Bank and Novolipetsk Steel Company (NLMK), in cooperation with Commerzbank and Vesuvius GmbH, are piloting Russia-Germany cross-border payments on R3’s Marco Polo network. Powered by R3’s Marco Polo Blockchain Global Trade Network On Oct. 11, Alfa-Bank announced that it is launching a foreign trade finance pilot transaction, with the cooperation of NLMK, Commerzbank and Vesuvius

Singapore Bank Giant OCBC Joins JPMorgan’s Blockchain Network

September 24, 2019
OCBC has become the first Singapore-based bank to join JPMorgan Chase’s interbank blockchain network. According to a Business Times Singapore report on Sept. 20, a total of 134 banks from the Asia-Pacific region are now participants in the Interbank Information Network (IIN). OCBC is the second-largest bank in South East Asia by assets and among the larger

‘Never Use BitPay’ — Hong Kong Free Press Slams Bitcoin Donation Block

September 16, 2019
Cryptocurrency payment processor BitPay faces another publicity nightmare amid claims it blocked donations to Hong Kong for several weeks. According to a complaint on social media by Tom Grundy on Sept. 11, founder of crowdfunded media outlet Hong Kong Free Press (HKFP), BitPay suddenly began failing to pass on funds from donors. Press CEO: “Never

IMF Chief Christine Lagarde: We Should Be Open to Cryptocurrencies

September 9, 2019
The nominee to be the next president of the European Central Bank (ECB), Christine Lagarde, has said central banks and financial bodies should protect consumers but be open to innovations such as cryptocurrencies. Changes are opportunities Lagarde, who is currently head of the International Monetary Fund, told the Economic and Monetary Affairs Committee of the

Switzerland’s First Licensed Crypto Bank Is Eyeing Singapore Next

September 4, 2019
Sygnum is in talks with local regulators to seal a banking license in Singapore, Bloomberg reported on Aug. 28. The cryptocurrency firm has only just been issued a conditional banking and securities dealer license in Switzerland — and now aims to become a fully regulated bank on the island nation so it can provide a

Gemini Joins Silvergate Exchange Network for 24/7 Fiat Money Transfers

September 2, 2019
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is joining crypto-friendly bank Silvergate’s Silvergate Exchange Network (SEN) to speed fiat transfers. Real-time fiat money transfers Gemini announced the move in an official blog post on Aug. 27. According to the announcement, the main benefit of the exchange’s partnership with Silvergate is that Gemini’s institutional

HSBC Is First Bank to Finance Transaction Via Hyperledger on We.trade

September 2, 2019
Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade. Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on

Xendpay Joins RippleNet to Expand Global Money Transfer Services

August 30, 2019
Money transfer service Xendpay has joined Ripple’s global network RippleNet to support international transactions. Going beyond the U.S. dollar Ripple announced the news on Aug. 20. Per the news release, RippleNet will allow Xendpay to provide money transfer services beyond the United States dollar. Xendpay will use Ripple’s pre-existing network of banks and other financial

7,000+ Sign Petition Against Drafted Cash Restrictions in Australia

August 28, 2019
More than 7,000 people have signed a new petition against drafted cash restrictions in Australia, different drafts of which include and exclude digital currencies from proposed limits. Earlier this week, Robert Barwick, director at the Citizens Electoral Council of Australia, initiated a petition against the proposed “Currency (Restrictions on the Use of Cash) Bill 2019”