fbpx

Banks

Home » Banks

Chinese Blockchain Spending to Exceed $2B by 2023

China’s spending on blockchain technology will exceed $2 billion in 2023, official state-run publication Xinhua reported on Nov. 10. The report claims that blockchain development in China will see a compound annual growth rate of 65.7% from 2018 to 2023. China’s banking sector responsible for the bulk of blockchain spending in 2019 Citing a study by American market intelligence firm IDC published on Nov. 7, the report says that the bulk of China’s blockchain spending …

Chinese Blockchain Spending to Exceed $2B by 2023 Read More »

Tunisia to Launch E-Dinar National Currency Using Blockchain

Tunisia has become the first country to start moving its national currency to a blockchain platform. Russian ICO startup Universa will help issue and manage Tunisia’s Central Bank Digital Currency (CBDC), reported Russian news agency Tass on Nov. 7. E-dinar expected to be more transparent, cheaper to issue The Central Bank of Tunisia announced that the digitization of the Tunisian dinar has started and that the paper-backed CBDC will be issued on the Universa Blockchain.  …

Tunisia to Launch E-Dinar National Currency Using Blockchain Read More »

Standard Chartered Banking Group Joins Ethereum Enterprise Alliance

International banking group Standard Chartered has become the latest member of a blockchain standard-building organization, the Ethereum Enterprise Alliance (EEA). In a press release issued on Nov. 6, Standard Chartered said the move would allow it to expand its client offerings across its 60 international markets. Standard Chartered is latest EEA banking member “Technology enables us to facilitate trade and investment across our footprint markets, improving client experiences and offering new services,” Group Chief Information …

Standard Chartered Banking Group Joins Ethereum Enterprise Alliance Read More »

Malaysia to Impose Cash Transaction Limit of $6K in 2020: Report

Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting for humanitarian aid purposes. The average Malaysian household spends $1,900 per month Abdul Rasheed, the deputy governor in question who works for Bank Negara Malaysia (BNM), claimed that the …

Malaysia to Impose Cash Transaction Limit of $6K in 2020: Report Read More »

Pro-Crypto Silvergate Bank Goes Public in Listing on NYSE

Shares of pro-crypto Silvergate Bank were launched for trading on the New York Stock Exchange (NYSE) on Nov. 7. Silvergate celebrates IPO day Silvergate Capital (NYSE:SI), a California-based commercial bank focused on digital currency businesses, is now officially listed on the NYSE, opening at $12.75, the NYSE tweeted Nov. 7. In conjunction with the event, Silvergate is celebrating its initial public offering (IPO) day today, according to the NYSE. The news follows Silvergate Capital Corporation’s …

Pro-Crypto Silvergate Bank Goes Public in Listing on NYSE Read More »

Turkey to Finish Testing Digital Lira in 2020

Turkey’s President Recep Tayyip Erdogan directed that the government should finish testing the national central bank digital currency (CBDC) in 2020. The country’s national blockchain-based digital lira is planned to be issued by the Central Bank in accordance with the 2020 Annual Presidential Program, Cointelegraph Turkey reported on Nov. 5. Digital lira ‘instant payment’ pilots should be finalized by the end of 2020 Published on Nov. 3, the Presidential Program specifies that the first trials …

Turkey to Finish Testing Digital Lira in 2020 Read More »

How Blockchain Disrupts Global Business | Sibos 2019

Blockchain technology is reshaping the face of our global financial system, and it goes far beyond cryptocurrencies alone. Since Bitcoin’s arrival, the conventional finance world has been intrigued by blockchain, Bitcoin’s underlying disruptive technology. Now we are seeing that intrigue being transformed into a full-fledged and active public interest, and the potential onset of popular mass adoption. But why is the white-collar financial world interested in adopting the very technology that holds profound implications for …

How Blockchain Disrupts Global Business | Sibos 2019 Read More »

Association of Prive German Banks Argues for Digital Euro

German banks have presented a position paper in which they make several arguments for the digital euro. On Oct. 30, in a paper released by the Association of German Banks (Bankenverband), which represents more than 200 private commercial banks and eleven member associations, banks stated that the “economy needs a programmable digital euro.” Monetary policy is the state’s responsibility, says Bankenverband The paper states that the responsibility for the monetary system lies with sovereign nation-states …

Association of Prive German Banks Argues for Digital Euro Read More »

Crypto Still in ‘Darwinian’ Process of Selection

A top executive at private Swiss private banking Julius Baer says cryptocurrencies are still at the stage of a “Darwinian” process of selection. In an interview with Arabian Business on Oct. 29, Christian Gattiker-Ericsson — Julius Baer’s chief strategist and head of research and investment solutions — argued that: “We are still in this Darwinian selection process where different business models get tried and tested, but we haven’t seen something that was a clear winner.” …

Crypto Still in ‘Darwinian’ Process of Selection Read More »

We Need Centralized Entities to Support Crypto

Zeeshan Feroz, United Kingdom CEO of Coinbase, has argued that we need centralized entities like central banks and Facebook to support the crypto ecosystem. In an interview with CNBC published on Oct. 24, Feroz said he saw two ways for cryptocurrency to go mainstream: central bank digital currency (CBDC) issuance and Facebook’s Libra. Central banks will catalyze adoption better than Silicon Valley As distinct from cryptocurrencies, a CBDC is a digital currency issued by a …

We Need Centralized Entities to Support Crypto Read More »

Scroll to Top