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Standard Chartered develops a blockchain-based solution for issuing bank guarantees

The international banking firm Standard Chartered is teaming up with Siemens to develop an experimental system that will allow for the recording of bank guarantees for the financing of trades on blockchain. According to the IBS Intelligence report, the development of this system is aimed at digitizing the process of issuing bank guarantees using automated

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3 months ago
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The Philippine Central Bank accredits two new crypto exchanges

The Philippines Central Bank has confirmed two applications for accreditation submitted by crypto exchanges. It allows both exchanges to convert Philippine pesos into cryptocurrencies and vice versa. Now there are five accredited crypto platforms in the country. The Bank notes the digital currencies potential for their ability to provide fast and cheap transactions. However, cryptocurrencies

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5 months ago
120
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Bank of England accepting blockchain and hailing information technologies

Bank of England announced its plans to ensure the compatibility of their payment system with blockchain-based transactions. The statement was made by Mark Carney, governor of the Bank. Carney said that the Bank of England is in the process of alteration and rethinking its real-time gross settlement network (RTGS), which supports payments in the UK, as

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5 months ago
146
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EU: crypto “unlikely” to challenge central banks

In the latest Monetary Dialogue report, the European Parliament’s Committee on Economic and Monetary Affairs stated that while crypto have made financial transactions “relatively safe, transparent, and fast,” they pose no threat to sovereign currencies around the world. According to the analysis by the Center for Social and Economic Research,  now cryptocurrencies “respond to real

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6 months ago
131
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Executives of Qiwi launch a crypto investment bank

Supervisors of a Russian payment company Qiwi are launching HASH – a crypto investment bank – to help investors and local companies tokenize their assets. The new bank is being launched by Qiwi Blockchain Technology – a Qiwi branch established earlier this year to concentrate at blockchain development and consulting. The enterprise has already collaborated

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6 months ago
159
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Korean banks to launch blockchain-based ID verification platform

A new platform called BankSign will be widely implemented after its testing in July, according to the official announcement the Korean Federation of Banks (KFB). Banks will be able to replace the existing ID verification system that has been implemented in South Korea for 20 years now. The new platform based on Nextledger will be

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6 months ago
163
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Swiss bank offers its services to crypto-business

One of the largest banks in Switzerland, Hypothekarbank Lenzburg, announced that it is ready to provide services to the cryptocurrency business and private owners. Switzerland is one of the first countries to consider the potential of cryptocurrencies. The ancient district of Zug has created a developed ecosystem for crypto-startups. The ability to open business accounts

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6 months ago
177