An international financial free zone within the capital of the United Arab Emirates (UAE) has concluded the first phase of its blockchain-based Know Your Customer (KYC) utility project, according to an ADGM press release Dec. 4. The Abu Dhabi Global Market’s (ADGM) regulatory body, the Financial Services Regulatory Authority (FSRA)...
The Department of Financial Services of New York (NYDFS) has authorized a blockchain-based digital platform offered by a local bank, an official NYDFS press release states Dec. 4. NYDFS superintendent Maria T. Vullo announced today that the department authorized New York-based Signature Bank to offer its digital payment platform Signet...
Brazil’s largest private bank has partnered with United Kingdom bank Standard Chartered to create a blockchain-based platform for small loans, according to a press release published by Itau Tuesday, Dec. 4. Itau Unibanco, also a major Latin American banking group, and Standard Chartered both offer international banking services. The two...
The G20 mentioned crypto regulation in its recent declaration on sustainable development adopted in Argentina. The declaration was published on the official website of the Council of the European Union and the European Council Dec. 1. At a meeting in Buenos Aires on Nov. 30 and Dec. 1, G20 officials...
South Korea's Finance Ministry is considering taxation on cryptocurrencies and Initial Coin Offerings (ICOs), daily English-language newspaper The Korea Times reports Monday, Dec. 3. Hong Nam-ki, South Korea’s new Minister of Economy and Finance as well as new Deputy Prime Minister, revealed that а crypto taxation plan will be finalized...
26 French companies and five major banks have completed a Know Your Customer (KYC) test based on blockchain, according to a press release by the entrant firm RCI Bank and Services released Dec. 3. RCI Bank and Services, a French automotive financing and insurance firm unveiled details of a customer...
Saudi Arabian developmental institution the Islamic Development Bank Group (IsDB) has partnered with a Tunisian startup to develop interbank blockchain tools, a press release confirmed Nov. 29. IsDB, which will conduct the project through its private sector subsidiary, the Islamic Corporation for the Development of Private Sector (ICD), wants to...
Sberbank and Interros Group have carried out an over-the-counter OTC foreign exchange repurchase agreement (repo) transaction employing smart contracts on a blockchain, Reuters Russia reports Nov. 30. The Interros Group is a Moscow-based private equity firm founded by Russian oligarch Vladimir Potanin in 1990, with stakes in Norilsk Nickel, pharmaceutical...
Swiss bank UBS’ Wealth Management Global Chief Economist and infamous Bitcoin skeptic Paul Donovan doubled down on his distrust of cryptocurrency Nov. 29, calling it “fundamentally flawed.” Speaking to CNBC’s Fast Money segment, Donovan, who earlier this week released an internal blog post titled “I come to bury Bitcoin, not...
Post trade management platform VAKT has launched its blockchain-based processing tool to an initial group of crude oil industry clients, a press release reports Nov. 29. VAKT, which uses JPMorgan’s Quorum blockchain technology to run, has rolled out to BFOET crude participants. The press release reports that energy giants BP,...