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Banking


Blockchain finance firm Clearmatics Technologies has raised over $12 million in a Series A funding round led by venture capital firm Route 66 Ventures. Additional investment in the funding round came from private equity firm TNF Capital and XTX Ventures, the venture capital arm of electronic market-making firm XTX Markets. As part of the arrangement, …

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China should increase its research efforts on the topic of stablecoins and consider backing domestic institutions in issuing a yuan-pegged cryptocurrency, a researcher from the People’s Bank of China (PBoC) argues. The comments come in an op-ed piece published Tuesday by CN Finance, a bi-weekly magazine and a mouthpiece of the Chinese central bank, and co-authored by Li …

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Blockchain startup Bitwala is aiming to launch Germany’s first “blockchain bank account” – and it’s struck a strategic partnership with Berlin-based fintech company solarisBank in order to pull it off. Built as part of solarisBank’s “Blockchain Factory” initiative, the partnership will enable Bitwala to offer banking services by way of solarisBank’s German banking license, spokesperson …

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An Indian commercial bank has revealed it is building a cross-border remittance app based on the Corda blockchain platform developed by consortium startup R3. Being built as a so-called CorDapp on the platform, Kochi-based Federal Bank has turned to blockchain startup DigiLedge to develop the app for “faster and cheaper” remittances to India, according to a press …

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The second largest bank in Italy, Intesa Sanpaolo, and 13 other banks have successfully completed the first phase of an interbank reconciliation blockchain trial. The tests, which started on June 4, were held in conjunction with ABI Lab – a research lab supported by the Italian Banking Association (ABI) – and finished last week. The project …

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MoneyTap, a consumer-focused blockchain money transfer app built by SBI Holdings and Ripple, has now gone live. Announced by Ripple in a tweet Thursday, the remittance app is the product of SBI Ripple Asia and several participating banks. A new website for the product has also been launched indicating that the app is able to make bank-to-bank …

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This post was originally published here The organizers of Ripple’s two-day Swell conference in San Francisco didn’t beat around the bush when they named the final panel of the event “The 800-Pound Gorilla.” The question of crypto asset adoption was certainly on many of the attendees’ minds, especially since Ripple CEO Brad Garlinghouse announced the …

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The organizers of Ripple’s two-day Swell conference in San Francisco didn’t beat around the bush when they named the final panel of the event “The 800-Pound Gorilla.” The question of crypto asset adoption was certainly on many of the attendees’ minds, especially since Ripple CEO Brad Garlinghouse announced the previous day that xRapid, the company’s …

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After a series of highly-publicized pilots, three companies are now making commercial use of Ripple’s xRapid product. XRapid employs the digital asset XRP, using it as a “bridge currency” in cross-border payments, which according to the company, reduces the cost and increases the speed of these payments by boosting liquidity. The three companies  – MercuryFX, …

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Seismic shifts are happening in the world of enterprise blockchain. Announced Monday, the Hyperledger Project and the Enterprise Ethereum Alliance (EEA) have agreed to collaborate on bringing common standards to the blockchain space and cross-pollinate a wider open-source community. This joining of forces is notable as EEA and Hyperledger represent two of the three largest …

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Zebpay, once the largest cryptocurrency exchange by trading volume in India, has announced it is halting its trading service later today. Giving only several hours’ notice, the Ahmedabad-based company said in a tweet that, from 16:00 local time (10:30 UTC) on Friday, it will halt its exchange service and cancel all unexecuted orders, crediting the funds …

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Wouldn’t it be nice to earn interest on your crypto holdings? Especially in a down market, those hodling crypto would love that. And ethereum-based startup Compound is launching a product to do just that. Revealed exclusively to CoinDesk, Compound’s platform for allowing crypto enthusiasts to make their holdings available for short-term loans, in turn, earning …

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The Austrian government is to use the ethereum blockchain to notarize the auction of a government bond worth €1.15 billion, or around $1.3 billion. The Federal Government’s Finance Agency (OeBFA) has assigned banking giant Oesterreichische Kontrollbank (OeKB) to carry out the auction on its behalf on Oct. 2, according to a finance ministry announcement Tuesday. The bank’s …

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Angus Champion de Crespigny is an advisor to various companies and projects on bitcoin, cryptocurrency and identity infrastructure. He spent 11 years at EY, with the last four consulting on blockchain and crypto assets until his departure in August. Since 2015, while there has been a myriad of permissioned blockchain announcements from enterprises, questions have …

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Bank of Communications, one of the four state-owned commercial banks in China, has completed a major issuance of residential mortgage-backed securities (RMBSs) using a blockchain network. China Securities Times, the mouthpiece of Chinese financial regulators, reported on Thursday that the banking giant issued a total of 9.3 billion yuan (or around $1.3 billion) worth of …

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A Swiss startup launched by several former UBS bankers has raised 100 million Swiss francs, or around $104 million, in a bid to establish a regulated cryptocurrency bank. Called SEBA Crypto AG (SEBA) and based in the Crypto Valley Zug, the startup said on Thursday it had secured the funds from domestic and foreign institutional and …

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Blockchain startup Bitwala has raised €4 million in new funding that will help develop a planned blockchain bank account offering. VC firms Earlybird and Coparion took part in the round, according to a September 25 blog post from the Germany-based payments company. The funding will be used to continue development of its product line, including a bid to launch …

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A major blockchain payments trial launched by JPMorgan, Australia’s ANZ and the Royal Bank of Canada has just gained over 75 new banks as participants. As reported by CoinDesk, the three banks set up the project in October 2017, aiming to slash both the time and costs required for interbank payments using traditional methods. Called the the Interbank …

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American banking giant PNC has joined the growing number of financial institutions using payments products from blockchain startup Ripple. The bank’s Treasury Management division will begin accepting cross-border transactions using the firm’s xCurrent product, Ripple’s senior vice president, Asheesh Birla, told CoinDesk Wednesday. One of the top-10 largest banks by assets held in the U.S., …

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This space ain’t big enough for all of us. That about sums up the way R3’s technical chiefs, CTO Richard Gendal Brown and lead platform engineer Mike Hearn, view the rivalry among enterprise blockchain solutions. While it may be more genial and less chaotic than the public blockchain world that Hearn left behind when he …

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