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…

SWIFT to Allow GPI Payments on Blockchain Platforms

The Society for Worldwide Interbank Financial Telecommunications (SWIFT) will allow distributed ledger technology (DLT) firms to use its global payments innovation (GPI) platform, according to a recently published report. In the report, SWIFT revealed that it will soon allow GPI payments on DLT-base platforms. The product will purportedly increase savings in reconciliations and boost the movement of collateral.…

Huawei Considering Launch of Blockchain Services in Latin America

Chinese telecommunications hardware giant Huawei is studying the entire Latin American market and considering expanding its operations, Cointelegraph Brazil reports on June 13. Per the report, a Huawei executive said at the CIAB Febraban conference on June 11 that it is possible its blockchain-enabled products and services will soon be available on the continent. The executive in question — who asked to remain…

Blockchain Credit Union Consortium to Use R3’s Corda for Cross-Border Payments Product

CULedger, a blockchain consortium and credit union service organization (CUSO), has chosen enterprise software firm R3’s Corda blockchain to underpin its forthcoming cross-border payments product. The news was reported by fintech news outlet Finextra on May 21. As reported, CULedger joined the R3 global blockchain ecosystem in December 2018. The blockchain CUSO implements the technology to improve cybersecurity and mitigate fraud risks, as well…

Corda Blockchain Trade Finance Platform Marco Polo Sees First Transactions

Blockchain consortium R3’s trade finance platform Marco Polo has completed its first real transactions, a press release from Commerzbank, one of the participants, confirmed on March 28. Marco Polo, which is built on R3 enterprise blockchain platform Corda, successfully facilitated a trade between Germany and China, involving two German firms. Tech group Voith and pump manufacturer KSB SE were the initiators of the transactions,…

Swiss Stock Exchange SIX to Use R3 Corda Enterprise for Blockchain-Based Trading Platform

Swiss Stock Exchange SIX to Use R3 Corda Enterprise for Blockchain-Based Trading Platform

Switzerland‘s principal stock exchange, SIX Swiss Exchange, has chosen to use blockchain consortium R3’s Corda Enterprise platform for its forthcoming blockchain-powered digital exchange. The news was revealed during the R3-hosted Corda Day event in Singapore on March 6. The SIX Swiss Exchange sees roughly 4.62 billion Swiss Francs (CHF) (~$4.6 billion) in daily turnover, and…

Blockchain Use In Banks Is At An All-Time High, Here’s What We Know

Blockchain Use In Banks Is At An All-Time High, Here’s What We Know

Despite being initially created as the driving force behind cryptocurrencies, specifically Bitcoin, Blockchain technology has certainly come on leaps and bounds over the past decade. Not only is it the scaffolding through which thousands upon thousands of cryptocurrencies are now being created, but it has become the technology of choice for leading banks searching for…

R3 Puts Blockchain KYC Tool To The Test With French Treasurers

R3 Puts Blockchain KYC Tool To The Test With French Treasurers

Blockchain company R3 is putting its Know Your Customer (KYC) solution to the test with dozens of French companies and corporate treasurers, according to BTC Manager reports Wednesday (Dec. 5). The French Association of Corporate Treasurers (AFTE) is supporting the pilot of R3’s KYC proof-of-concept solution by a group of French companies, including RCI Bank,…