The National Bank of Kuwait has launched a remittance product for cross-border live payments based on RippleNet’s blockchain technology. The National Bank of Kuwait (NBK) has launched a cross-border remittance product based on RippleNet’s blockchain technology, according to an announcement published Dec. 27. Established in 1952, the NBK is the largest financial institution in terms… Continue reading National Bank of Kuwait Launches Ripple-Based Cross-Border Payments Product
Category: Banks
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Business Models Should Be ‘Re-Imaged’ for Blockchain, Says Barclays Rep
A Barclays Intrapreneur said that blockchains should be built with regulatory compliance in mind during a recent industry event. A Intrapreneur from financial services giant Barclays has expressed the idea that blockchains should be built with regulatory compliance in mind, tech news website The Next Web (TNW) reported Dec. 14. Speaking at a Hard Fork… Continue reading Business Models Should Be ‘Re-Imaged’ for Blockchain, Says Barclays Rep
Galaxy Digital Lost $136 Million in the First Three Quarters of 2018
Galaxy Digital faced further losses in Q3, bringing its total losses in 2018 up to $136 million. Mike Novogratz’s crypto investment bank Galaxy Digital has lost $136 million in the first three quarters of 2018, Bloomberg reports Nov. 28. According to Bloomberg, Galaxy Digital’s realized and unrealized losses in Q3 amounted to $41 million, which… Continue reading Galaxy Digital Lost $136 Million in the First Three Quarters of 2018
BBVA and Santander Join EU Joint Blockchain Platform Set to Launch in 2019
Major Spanish banks BBVA and Santander have joined the launch of the E.U. International Association for Trusted Blockchain Applications. Banking groups BBVA and Banco Santander have joined the E.U. International Association for Trusted Blockchain Applications (IATBA), Spanish economic newspaper Expansion writes Nov. 20. The representatives of two Spanish banking groups were invited to an E.U.… Continue reading BBVA and Santander Join EU Joint Blockchain Platform Set to Launch in 2019
SWIFT India Partners With Fintech Firm for Blockchain Pilot
SWIFT India has partnered with fintech firm MonetaGo to run a blockchain pilot aimed at addressing fraud in the e-way Bill system. SWIFT India has partnered with fintech firm MonetaGo to pilot a distributed ledger (DLT) network designed to improve the efficiency and security of financial products, according to a press release published Nov. 20.… Continue reading SWIFT India Partners With Fintech Firm for Blockchain Pilot
Report: Swiss Financial Watchdog Recommends Banks Set Crypto Risk Coverage at 800%
The Swiss financial watchdog FINMA has reportedly advised the country’s financial institutions to set crypto asset risk coverage at 800 percent of their value. The Swiss Financial Market Supervisory Authority FINMA has advised banks and other financial institutions to estimate risk coverage for cryptocurrencies at 800 percent of current market value, Cointelegraph auf Deutsch reports… Continue reading Report: Swiss Financial Watchdog Recommends Banks Set Crypto Risk Coverage at 800%
World Payments Report 2018: DLT Falls Short of Meeting Financial Market Demands
The World Payments Report 2018 has found that blockchain is currently not able to meet the requirements of the financial market. The World Payments Report 2018 published Oct. 16 has found that distributed ledger technology (DLT) is not currently capable of meeting financial market demands. The annual report was jointly compiled by consulting and technology… Continue reading World Payments Report 2018: DLT Falls Short of Meeting Financial Market Demands
World Bank President: Distributed Ledger Technology Has ‘Huge Potential’
World Bank President Jim Yong Kim has stated that blockchain technology has “huge potential” that can help the organization “leapfrog generations of bad practice.” The president of the World Bank Group Jim Yong Kim has stated that distributed ledger technology (DLT) has “huge potential” and that the bank should keep pace with innovative technologies. Kim… Continue reading World Bank President: Distributed Ledger Technology Has ‘Huge Potential’
Report: Companies, Investors Circumvent Chinese ICO Ban
A Xinhua News Agency investigation revealed ways Chinese crypto investors are avoiding the country’s ICO ban. An investigation by the Xinhua News Agency has shown it is possible to bypass China’s Initial Coin Offering (ICO) ban, according to an article published September 26. The investigation has shown that despite the government’s efforts to crack down… Continue reading Report: Companies, Investors Circumvent Chinese ICO Ban