JP Morgan Chase & Co. has outlined a peer-to-peer payments network in a patent application filed with the U.S. Patent and Trademark Office (USPTO) yesterday, May 3. The network would use distributed ledger technology (DLT), such as blockchain, for intra- and inter-bank settlements. The application describes the drawbacks of the...
Major Chilean cryptocurrency exchange Buda has persuaded a court to order the re-opening of its accounts at two major Chilean banks, Bloomberg reports April 25. Chile’s anti-monopoly court published the ruling on its website, ordering state bank Banco del Estado de Chile and Itau Corpbanca to re-open Buda’s accounts while...
Finnish cryptocurrency exchange and crypto wallet services provider Prasos Oy is one step from being “frozen”, as most Finnish banks will no longer conduct business with them, Bloomberg reports March 9. Founded in 2012, Prasos has seen a ten-fold spike of transaction volumes reaching $185 mln in 2017, which became...
A Polish major bank PKO Bank Polski has recently announced their partnership with Blockchain company Coinfirm to provide a DLT-based storage and verification system for bank documents, TechCrunch reported on March 29. The recently signed agreement aims to bring Blockchain technology to PKO’s banking system via the Trudatum tool developed...
Colombian banks closed all the accounts of South American crypto exchange Buda.com, local news outlet Diario Bitcoin reported June 8, citing an email the company sent to its clients. According to the email, the move was spontaneous, the banks confirming that the accounts had been closed without providing further explanation. The...
The National Bank of Dubai (NBD), one of the largest banking groups in the Middle East by assets volume, has reportedly become the first bank in the region to successfully implement Blockchain technology in a check-issuance system to prevent fraud, local news outlet Arabian Business reported Saturday, April 21. According...
European leaders seem to have finally come to a consensus that the innovative technology underlying crypto-assets “has the potential to improve efficiency and inclusiveness of the financial system and economy more broadly,” as emphasized at the G20 summit in Argentina in March 2018. However, when it comes to regulation, the...
VPE WertpapierhandelsBank AG (VPE), a German securities trading bank, has partnered with Berlin-based technology company solarisBank to launch a cryptocurrency trading service for institutional investors, according to a VPE press release April 25. VPE is regulated by the Federal Financial Supervisory Authority (BaFin) and is purportedly the first bank in...
Canada’s central bank, Toronto Stock Exchange operator TMX Group, and non-profit organization Payments Canada, completed tests showing blockchain can be used for instantaneous securities settlements, Reuters reports today, May 11. The three companies concluded that blockchain, the technology originally developed for cryptocurrencies such as Bitcoin (BTC), is usable for automating...
Dutch financial group ING (INGA.AS) has confirmed that Bitfinex, one of the world’s largest Bitcoin exchanges by daily trading volume, has a bank account with them in the Netherlands, Reuters reported Tuesday, Feb. 20. In an email to Reuters, ING spokesperson Harold Reusken confirmed that Bitfinex has a bank account...