Mastercard Joins Blockchain Software Firm R3’s Marco Polo Network

American financial services giant Mastercard has joined blockchain software company R3’s Corda-powered Marco Polo Network for trade finance. In a news release published on Sept. 3, Mastercard revealed its participation in the project, a collaboration of R3 and Irish tech company TradeIX that launched in 2017. The initiative provides a multi-asset class platform that offers broker-dealer…

Nexo Launches MasterCard-branded Crypto Credit Card

Instant crypto loans firm Nexo is launching a MasterCard-branded cryptocurrency credit card. The development was announced in a press release shared with Cointelegraph on Aug. 2. “World’s first” Nexo claims the Nexo Card to be the first card in the world that enables users to spend the value of their cryptocurrency without in fact spending…

Facebook’s Calibra Digital Wallet Will Not Be Available in Its Largest Markets

Facebook’s Calibra digital wallet will not be available in some of the social network’s largest markets, including India, according to a TechCrunch report on June 19. A spokesperson told the website: “The libra blockchain will be global, but it will be up to custodial wallet providers to determine where they will and will not operate. Calibra won’t be available in U.S.-sanctioned countries or countries…

Facebook Hires Standard Chartered Bank’s Head of Public Affairs for Crypto Project

Facebook has reportedly hired Standard Chartered Bank’s head of public affairs Ed Bowles for its cryptocurrency project, the Financial Times reports on June 14. Per the report, Facebook hired the senior bank lobbyist in anticipation of the greater regulatory scrutiny in Europe over its plans to launch its own crypto asset and other financial services to its 2.4 billion users. Bowles will join the…

PayPal Invests in Blockchain Startup

What is apparently a first for the online payments company, PayPal, the firm has made an investment in Cambridge Blockchain, a startup that utilizes technology to allow users to have more control over digital identity. The investment from PayPal is part of an extension that was part of a Series A funding for the startup.…

Blockchain Tech Disrupts The Corporate Payments Status Quo

Blockchain Tech Disrupts The Corporate Payments Status Quo

Blockchain seemed to be stuck in pilot phase in 2017, but in 2018, the financial services industry finally saw a stronger flow of real-world, working blockchain applications — many of which targeted pain points in B2B payments, including the time and lack of transparency in cross-border transactions. Industry heavyweights like Mastercard and American Express have…