The Bank of Japan’s (BOJ) deputy governor spoke negatively about the effects of central bank-issued digital currencies (CBDC) on the current financial system in closing remarks at a fintech conference, published yesterday, April 16. In his remarks, Deputy Governor Masayoshi Amamiya stated that while central bank-issued digital currencies (CBDC) could...
Credit rating giant Moody’s Investor Service said in a recent report that Blockchain technology for cross-border transactions could potentially hurt banks in Switzerland more than in any other country, CNBC reported yesterday, April 16. As half of the Swiss banking sector revenue is from fees and commissions, Switzerland is more...
International investment bank Barclays has been reviewing the possibility of opening a cryptocurrencies trading desk, sources familiar with the matter told Bloomberg April 16. According to the sources, Barclays has only conducted a preliminary assessment of whether client interest is sufficient. Sources told Bloomberg that they would rather remain anonymous,...
Chilean cryptocurrency exchanges BUDA, Orionx, and CryptoMarket (CryptoMKT) have recently applied to an appeals court to confront the banks that shut down their platforms’ accounts, Bloomberg reported Friday, April 13.  The court has agreed to hear the case, but the bank accounts are still closed. According to local news outlet...
The Russian government has reportedly prepared a review of the draft bill “On Digital Financial Assets,” detailing that the exchange of cryptocurrency for fiat for more than 600,000 rubles (about $9,600) or its foreign equivalent is subject to mandatory currency exchange regulation, according to local crypto news outlet Forklog...
The Bank of Lithuania has reportedly begun looking into cryptocurrencies, initiating a dialogue between commercial banks, government regulators, and crypto traders, local news outlet The Baltic Times reports today, April 15. The central bank had invited representatives from the Financial Ministry, the Financial Crime Investigation Service (FNTT), the banking sector, and...
While Wall Street giants JP Morgan and Citigroup experienced strong first-quarter earnings, their share prices overall fell, the Wall Street Journal (WSJ) reported Friday, April 13. The WSJ reports that while equity trading revenue rose by 26 percent to $2 bln at JP Morgan, which also saw a 35 percent...
On April 12, the US Patent and Trademark Office published Bank of America’s application for a patent on a Blockchain-based storage system with automated data authentication. In the document, which was originally filed in October 2016, the author describes a Blockchain-based system for authenticating data and providing secured access of...
The service will be powered by the Ripple’s xCurrent distributed ledger technology which facilitates same day global payments. Spanish banking giant Banco Santander has recently announced the launch of its new international payment system that is based on the revolutionary blockchain technology to retail customers across the four European nations...
Spanish-based international bank Santander confirmed the launch of its Ripple-powered Blockchain payment network Thursday, April 12, becoming the first bank to do so. One Pay FX, which uses Ripple’s Blockchain technology to cut the cost and waiting time associated with international funds transfers, will initially be open to Santander account...