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Swiss Crypto Bank Startup Expects to Receive Banking, Securities Dealer License in 2019

The CEO of Swiss startup SEBA Crypto AG said in an interview that five “large asset managers” from both Germany and abroad have shown interest in their cryptocurrency bank, Swiss financial media outlet Cash reports Nov. 12.Back in September, the company had raised $103 million to set up a bank offering cryptocurrency-related services. At the […]
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Australia’s Biggest Bank Trials Blockchain-Based ‘Smart Money’ for Disability Insurance

The Commonwealth Bank of Australia (CBA) and government-run digital innovation center Data61 have released the results of their trial for a blockchain-powered “smart money” system for Australia’s National Disability Insurance Scheme (NDIS). The development was reported by local financial and business news platform Business Insider Australia today, Nov. 13.Data61 is a digital innovation hub that […]
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HSBC India Completes Joint Blockchain-Enabled Transaction With India Holding Giant RIL

The Indian subsidiary of major global banking and financial services firm HSBC and India’s holding giant Reliance Industries (RIL) have completed a blockchain-enabled trade finance transaction, Indian business newspaper The Hindu Business Line reports Sunday, Nov. 4.The blockchain-powered letter of credit (LoC) transaction, reportedly the first of its kind in India, involved export by RIL […]
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Controversial Stablecoin Tether Confirms New Banking Partner Deltec After Weeks of Rumors

The issuer of cryptographic stablecoin Tether (USDT) announced it had found a new banking partner in a statement Nov. 1, confirming rumors it would use Bahamas-based Deltec Bank & Trust.Tether, which had suffered from mixed publicity after allegations it had parted ways with previous financial institution Noble Bank, also noted in the statement that its […]
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Mastercard Patent Claims Cryptocurrency Can Benefit From Fractional Reserve Banking

U.S. multinational financial services corporation Mastercard wants to apply principles of fractional reserve banking to cryptocurrency, a new patent application published Thursday, Oct. 25 reveals.According to the document, published by the U.S. Patent & Trademark Office (USPTO), the payment processor has plans to allow merchants to interact with what it calls “blockchain currencies” via a […]
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Reserve Bank of Australia Official ‘Not Convinced’ of Need for Digital Dollar

The Reserve Bank of Australia (RBA) assistant governor Michelle Bullock said that the bank has not been convinced of the need to create a digital Australian dollar, local business and finance news outlet The Australian Financial Review reported Oct. 24.Speaking at the Sibos 2018 banking and financial conference in Sydney, Bullock reportedly said that she […]
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European Crypto Mining Firm Bitfury Considers Going Public

Blockchain technology company Bitfury is considering a potential Initial Public Offering (IPO), which could reportedly become the first major public listing in the crypto industry in Europe, Bloomberg reported Oct. 25.People familiar with the matter reportedly told Bloomberg that Bitfury is examining a range of options including raising debt financing or selling a minority stake. […]
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Visa Set to Launch Blockchain-Based Digital Identity System with IBM in Q1 2019

Visa is readying its blockchain-based digital identity system for cross-border payments for launch in the first quarter of 2019, according to a press release published October 21.The system, dubbed Visa B2B Connect, will provide a blockchain-based digital identity solution for financial institutions to securely process cross-border payments. The system reportedly tokenizes sensitive business data – […]
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ING Bank Launches Open Source Privacy Improvement Add-On for Blockchains

Dutch multinational banking and financial services corporation ING confirmed the release of its open source blockchain tool Zero-Knowledge Set Membership (ZKSM) in a press release Monday, Oct. 21.ZKSM, which functions as a privacy “improvement” to distributed ledger technology (DLT), such as blockchain, aims to provide validation of certain alphanumeric data without compromising that data’s overall […]
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Central Bank-Issued Digital Currencies Are Not an Effective Economic Tool

The Bank of Japan’s (BOJ) deputy governor Masayoshi Amamiya has recently reiterated his negative stance towards central bank-issued digital currencies (CBDC), the New York Times reports Oct. 20.Speaking on Saturday at a meeting in Nagoya, central Japan, Amamiya expressed doubts about the use of CBDCs, claiming that such digital currencies are unlikely to improve the […]
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