The Swiss Bankers Association (SBA) has issued basic guidelines for banks working with blockchain startups on Friday, September 21. As Reuters reports, the measure was taken to prevent a mass crypto exodus out of Switzerland. The document states that banks see blockchain as an opportunity for Switzerland to house financial...
Several large Russian banks have expressed their strong interest in working with the industry of cryptocurrency and blockchain during a closed-door meeting held at the Moscow Exchange, sources told Russian news site RBC September 19. As an unnamed source familiar with the matter told RBC, the demand for cryptocurrencies in...
Poland’s largest bank will launch a blockchain solution for its customer documents via a partnership with UK-based Coinform “in the coming days,” the parties confirmed in a press release Thursday, September 20. Part of a drive to enhance security of customer data, PKO Bank Polski will use Coinform’s Trudatum to...
PNC, which is ranked among the top ten U.S. banks, will use RippleNet to process international payments for its customers, Ripple announced Wednesday, September 19. As Reuters reports, a particular PNC unit — Treasury Management — will use Ripple’s blockchain solution xCurrent to speed up overseas transactions held by U.S....
A group of major global banks, trading firms, and a leading energy company have launched a joint venture that will oversee a new blockchain-based platform for financing the trading of commodities, Reuters reports September 19. The Swiss-based venture, dubbed komgo SA, has been established by a host of international financing,...
Brazil’s antitrust regulator is reportedly inspecting six major national banks for alleged monopolistic practices in the crypto space, Reuters reports September 18. Brazil’s antitrust regulator, the Administrative Council for Economic Defense (CADE), which operates under the Ministry of Justice (MJ), has purportedly launched a probe on Tuesday to find out...
Cryptocurrencies are "perfect", but are often used for bad purposes, executive chairman of multinational Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA) Francisco Gonzalez Rodriguez stated in an interview with CNBC Friday, September 14. Gonzalez has claimed that the world is going through "an incredible digital revolution" which will eventually...
The Union Cabinet of India has approved a Memorandum of Understanding (MoU) on the collaborative research of distributed ledger technology (DLT), local news outlet ANI reported September 12. The Union Cabinet is the supreme decision-making body in India consisting of cabinet ministers and led by the prime minister, Narendra...
A new trade and finance blockchain platform, backed by the People's Bank of China (PBoC), has started official pilot operations in Shenzhen, local news outlet 21jingi reports September 12. The “Guangdong, Hong Kong and Macao Dawan District Trade Finance Blockchain Platform” aims to provide a blockchain-powered ecosystem for cross-border trading...
The International Monetary Fund (IMF) has warned the Republic of the Marshall Islands (RMI) about the risks of adopting a cryptocurrency as a second legal tender, according to an official press release published on September 10. In the report, the U.S.-based agency backed by the United Nations addresses the government...