blockchain

Last week the Korea Financial Services Commission approved nine companies for its regulatory sandbox, giving them permission to experiment with new services and products without excessive regulatory burden. One of…

Santander, J.P. Morgan among members of Ethereum standards group building “token taxonomy” initiative

April 22, 2019

News and Notes – Fintech, Uncategorized

Banco Santander, blockchain, Digital Asset, Enterprise Ethereum Alliance, J.P. Morgan, tokens

The Enterprise Ethereum Alliance (EEA) announced the formation of the blockchain-neutral Token Taxonomy Initiative (TTI), which addresses the need to universally define tokens to better understand how their use and…

FT: J.P. Morgan opens IIN blockchain platform to payments and fintechs

April 22, 2019

blockchain, fintech, Interbank Information Network, J.P. Morgan, settlement

J.P. Morgan is to widen the use of the industry’s leading blockchain technology to help smooth the banking industry’s payment system while also inviting fintechs to experiment on how to…

What was said about crypto, blockchain and trust at IMF’s spring meeting

April 16, 2019

Benoît Cœuré, blockchain, Central Banks, Circle, crypto regulation, cryptoassets, ECB, IMF, J.P. Morgan, Kenya

In the digital currency world, there’s a phrase: “In crypto we trust”. And while IMF chief Christine Lagarde raised an eyebrow at the statement during a panel at the IMF’s…

France’s Le Maire: blockchain a competitive freedom in monopolistic world

April 16, 2019

blockchain, Bruno Le Maire, France

France will push for the European Union to adopt a regulatory framework on cryptocurrencies similar to the one France brought in at a national level, the country’s finance minister Bruno…

Fintech weekly deals and partnerships round-up

FS: Australia blockchain investor TCM acquires controlling stake in US fund Australian digital assets investment firm TCM Global Asset Management (formerly Token Capital Management) is making its first international foray.…

ICMA: where is my blockchain bond?

April 12, 2019

blockchain, crypto regulation, fintech regulation, ICMA

On its dedicated fintech site, ICMA provides a listing of new fintech applications in bond markets, most of which are based on distributed ledger technology. Over the last two years,…

UBS: big bank blockchain exposes competitive tech gap

April 9, 2019

banks, blockchain, UBS, UBS Evidence Lab

A recent UBS Evidence Lab survey found a predictably yawning gap between big and small banks: larger banks are getting a competitive advantage from emerging tech, are more likely to…

BT: Africa regulates blockchain and cryptocurrency

April 8, 2019

Africa, blockchain, crypto regulation

African governments are divided in their opinion on the use of blockchain and cryptocurrency. According to reports, Zimbabwe and Zambia started with a hard stance while Mauritius created a regulatory…

UBS survey: analysis of US bank tech spend finds growing gap

April 2, 2019

News and Notes, News and Notes – Fintech

artificial intelligence, blockchain, cybersecurity, UBS

In late 2018 through early 2019, UBS Evidence Lab conducted phone interviews with 203 IT managers from 175 banks of varying sizes. Survey participants were asked about their technology strategies…

FCA’s digital reporting platform uses blockchain and APIs

March 26, 2019

APIs, blockchain, DRR, FCA, regulatory reporting

Every year financial firms and regulators face increased challenges around regulatory reporting. The current manual process is complex with over 20,000 rules across 58,000 firms and it’s only growing. Each…

IBM unveils blockchain network for payments and FX with real-time settlement

March 22, 2019

blockchain, cryptocurrencies, IBM, Payments, settlement, stablecoins, World Wire

IBM announced that Blockchain World Wire, a real-time global payments network for regulated financial institutions, is officially accessible in a growing number of markets. Designed to optimize and accelerate foreign exchange,…

Bahama central bank updates on CBDC project “Sand Dollar”

March 22, 2019

Bahamas, blockchain, CBDC, Central Banks

Inclusive of a digital version of the Bahamian dollar, the Central Bank of The Bahamas has defined several evolved objectives for the Bahamian payments systems. On some levels The Bahamas…

Key takeaways from Fintech Week events

March 18, 2019

Big Data, Technology

BNP Paribas and Millennium Global Investments launch AI FX index BNP Paribas announced the launch of the BNP Paribas MGI Systematic Currency Alpha Index using artificial intelligence through machine learning.…

What experts are saying about institutional adoption of blockchain (premium)

March 5, 2019

blockchain, crypto regulations, ICOs, STOs, White & Case

Blockchain adoption requires a total shift away from the traditional landscape, and can be described as a “long-term shift in value creation ecosystems”, was the message from Tel Aviv Fintech…

Can independent custody on the blockchain make sales? We don’t see it.

March 4, 2019

Josh Galper

Blockchain, Custodians, Technology

blockchain, Custody, topstory

The idea of custody on the blockchain is exciting. Streamline holdings and corporate actions! Get rid of middlemen! The sales pitch is alluring but the reality is something else. We…

ASX to sell financial sofware firm IRESS for $385mn

February 27, 2019

ASX, blockchain, CHESS, DLT, settlement

Australian Securities Exchange (ASX) announced an agreement to sell its 18.6% shareholding in financial software provider IRESS for $385 million. Dominic Stevens, ASX’s managing director and CEO, said in a statement:…

Crypto and blockchain are stars of private investment in 2018

February 26, 2019

blockchain, cryptoassets, cryptocurrencies, KPMG, Singapore

Blockchain and crypto came out as one of the strongest aspects of fintech investment in 2018, a year that found a shift from project to product focus. Continue reading

Germany’s Bitbond announces first BaFin-compliant STO

February 26, 2019

Bafin, Bitbond, blockchain, lending platform

Berlin blockchain company Bitbond announced the first Security Token Offering (STO) with a securities prospectus approved by BaFin, Germany’s financial regulator. Bitbond is the first in Germany to issue a…

Commerzbank tests blockchain tech on money market with issuer, corporate treasury

February 22, 2019

blockchain, Commerzbank, Luxembourg, treasury management

For the first time, Continental, Commerzbank and Siemens have carried out a test transaction as part of a pilot project to process a money market security between the companies using…

Securitize and OTCXN team up for non-custodial end-to-end DSO service

February 20, 2019

News and Notes

blockchain, digital security offering, OTCXN, Securitize

Securitize has announced a new strategic relationship with OTCXN, a live blockchain-powered capital markets infrastructure company for institutional traders to trade digital assets and FX while eliminating the settlement risk…

Reuters: Germany consults industry about blockchain

February 19, 2019

blockchain, Germany

Germany has opened a consultation process on how to tap into the potential of blockchain technology ahead of presenting a strategy by the summer, government sources said on Monday, reports…

Luxembourg passes blockchain bill, gives tokens legal status as securities

February 17, 2019

blockchain, Luxembourg

Luxembourg passed legislation to provide financial market participants with legal certainty for the circulation of securities via blockchain technology. The bill is intended to give greater certainty for investors and…

J.P. Morgan announces stablecoin for internal settlement

February 15, 2019

blockchain, cryptocurrencies, J.P. Morgan, settlement

J.P. Morgan this month became the first US bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin is based on blockchain-based technology enabling…

Blockchain has integration problems that financial markets have seen before

February 12, 2019

blockchain, Cindy Mallory, cryptocurrencies, interoperability, Oz Sultan, VRARA

The challenge for blockchain development in the US is two-fold: that there isn’t going to be any kind of standardized blockchain from any near-term perspective, and how that rolls out…

IHS Markit says finance industry largest blockchain market, predicts $462bn value by 2030

February 11, 2019

blockchain, IHS Markit

Taking into account the projected increase in the number of blockchain projects expected to launch and become commercially deployed in the coming years, market revenues are projected to reach $462…

GBBC’s annual report highlights Fidelity, provides regulatory view

February 8, 2019

blockchain, cryptocurrencies, Fidelity Digital Assets, GBBC

No matter setbacks on the path, blockchain continues to inspire innovators to question unexamined systems and norms historically accepted as adequate, writes the Global Blockchain Business Council in their annual…

TD bank survey reveals cybersecurity fears and blockchain optimism among finance pros

February 8, 2019

blockchain, cybersecurity, TD Bank

Treasury and finance professionals anticipate more operational challenges in 2019 than in previous years, according to a recent survey conducted by TD Bank at the 2018 Association for Financial Professionals…

Credit Suisse and Banco Best putting fund trade process on DLT

February 8, 2019

Banco Best, blockchain, Credit Suisse, DLT, FundsDLT

Banco Best and Credit Suisse Asset Management successfully processed live end-to-end fund transactions, using FundsDLT, a blockchain-based decentralized platform for fund transaction processing. The transactions included every part of the fund…

Institutional investor association tells SEC to consider blockchain for proxy voting

February 6, 2019

blockchain, Council of Institutional Investors, proxy voting, Securities and Exchange Commission

Technological change now offers the opportunity to construct a better system of share ownership based on traceable shares, with the potential to fix a panoply of problems associated with proxy…

Bloomberg: Paris fintech summit shows banking disruption in spotlight, crypto sidelined

February 3, 2019

blockchain, Ripple, Swift

Crypto fever has truly broken: that was a big takeaway this week from the Paris Fintech Forum, one of the biggest annual gatherings of its kind in Europe where 3,000…

SWIFT to open gpi payment standard to e-commerce and DLT platforms

January 31, 2019

blockchain, Corda, DLT, gpi, R3, Swift

SWIFT announced a proof-of-concept (PoC) to trial, global payments innovation (gpi) Link, a gateway to interlink e-commerce and trading platforms. SWIFT’s PoC will include bank and corporate participants. A prototype…

Six banks onboarding HQLAx/Deutsche Börse seclending blockchain

January 29, 2019

blockchain, Deutsche Borse, HQLAx, Securities Lending

Deutsche Börse and HQLAx have reported significant progress on blockchain securities lending solution, with six banks already started onboarding. In March 2018, Deutsche Börse Group and HQLAX announced a cooperation…

Z/Yen: cyber-catastrophe insurance-linked securities on smart ledgers

January 29, 2019

blockchain, cybersecurity, insurance firms, Z/Yen

One of the strategies which the insurance industry has used to deal with the risk of natural catastrophes has been to transfer some catastrophe risk on to the financial markets:…

Nasdaq-backed Symbiont raises $20mn for institutional blockchain platform

January 26, 2019

blockchain, Citi, fundraising, Nasdaq, symbiont, Vanguard

Symbiont announced the closing of a $20m Series B funding round to continue developing its blockchain platform for the global financial markets. The round was led by Nasdaq Ventures with…

Elementus: anatomy of Cryptopia exchange hack

January 22, 2019

blockchain, Cryptopia, cybersecurity, Elementus, fraud

In mid-January New Zealand exchange Cryptopia suffered a security breach resulting in significant losses. Elementus went to the Ethereum blockchain to figure out what happened. Elementus is a protocol and platform that…

ING signs deal for large-scale Corda blockchain platform adoption

January 22, 2019

blockchain, Corda, DLT, ING, R3

ING Bank has signed a major five-year deal with enterprise software firm R3, entitling the bank to an unlimited number of licenses for R3’s commercial blockchain platform, Corda Enterprise. The…

GBBC: blockchain investment set for dramatic increase, even if senior execs don’t understand it

January 22, 2019

blockchain, GBBC

Survey results from the Global Blockchain Business Council show that institutional investors expect companies to dramatically increase their investment in blockchain over the next few years, even while there is…

FP: open banking needs digital ID system using advanced tech

January 16, 2019

biometrics, blockchain, Canada Bankers Association, data security

The Canadian Bankers Association says Canada must create a digital identification system, potentially using technology such as blockchain, biometrics and document review over a live video connection. Neil Parmenter, CBA’s…

Pakistan starts blockchain project for cross border payments

January 15, 2019

blockchain, Central Banks, Pakistan, Payments

Pakistan’s central bank governor, Tarik Bajwa, launched an initiative by Telenor Pakistan that will enable the transfer of cross border remittances using blockchain technology in near real-time. The project is…

ICJ and Broadridge execute first blockchain-based interoperable proxy voting process in Japan

January 15, 2019

blockchain, Broadridge, DLT, ICJ, proxy voting, Quorum, Tokyo Stock Exchange

Broadridge Financial Solutions and ICJ, a joint venture of Broadridge and the Tokyo Stock Exchange, have successfully conducted the first Proof of Concept (PoC) of blockchain-based proxy voting in Japan,…

FCA flags “significant” applications and harmful effects of advanced tech in wholesale markets

January 15, 2019

artificial intelligence, Big Data, blockchain, FCA, GDPR, outsourcing, Sector Views

The FCA released its Sector Views report for January 2019. It identified a number of risks for wholesale financial markets. In the Investment Management Section, the FCA identified automation as…

Broadridge survey has AI in big lead for impact, legacy tech biggest hurdle

January 14, 2019

artificial intelligence, blockchain, Broadridge, cloud, legacy systems