Latest Blockchain News: Finextra Research

BBVA applies blockchain tech to Letters of Credit

BBVA has applied blockchain technology from Wave to reduce the time taken to submit, verify and authorise an international trade transaction from seven to ten days, to just 2.5 hours

27 November 2017

News/Blockchain

Axis Bank uses Ripple to open new payment corridors between the UAE and Singapore

Standard Chartered, Axis Bank and Rakbank have begun to use RippleNet to send live cross-border payments on behalf of corporate clients and migrant workers.

22 November 2017

News/Blockchain

Strate to apply Nasdaq blockchain for proxy voting

South Africa's central securities depository Strate is to implement blockchain-based e-voting technology from Nasdaq to surmount the administrative hurdles facing shareholders and corporations in conducting Annual General Meetings.

22 November 2017

News/Blockchain

India's largest lender to begin tests of smart contracts

State Bank of India is to begin testing the use of smart contracts next month, with blockchain-enabled know your customer processing to follow.

21 November 2017

News/Blockchain

Wall Street heavyweights pilot DLT for equity swaps processing

Some of Wall Street's biggest names, including Goldman Sachs and JP Morgan, have completed a pilot that used blockchain smart contracts to manage equity swap transactions and post-trade lifecycle events.

20 November 2017

News/Blockchain

ING brings data privacy to blockchain transactions

Dutch bank ING claims to have cleared a major hurdle in the use of blockchain technology in financial services: protecting data privacy.

20 November 2017

News/Blockchain

Ripple boss predicts central bank adoption of blockchain

Central banks will use distributed ledger technology (DLT) to settle high-value interbank payments within the next five to ten years, predicts the chief executive of Ripple.

17 November 2017

News/Blockchain

AmEx partners Ripple and Santander for blockchain-enabled cross-border payments

American Express has teamed up with Santander UK and Ripple to introduce blockchain-enabled cross-border business-to-business payments.

16 November 2017

News/Blockchain

Boardroom ignorance holding back bank's tech plans

Bank's IT departments are unable to pursue innovation with the latest digital technologies because they have lost influence in the boardroom with senior managers that do not properly understand new technology.

16 November 2017

News/Blockchain

Singapore offers $20m grant for banks' AI and data projects

Singapore has stepped up its fintech ambitions with the offer of a S$27m ($19.91m) grant to promote the further use of artificial intelligence and data analytics in the financial services market.

15 November 2017

News/Blockchain

Singapore central bank open sources blockchain prototypes

An industry consortium led by the Monetary Authority of Singapore (MAS) and the island's Association of Banks has released the source-codes of three successful distributed ledger prototypes for inter-bank payments, in an effort to encourage other financial institutions and central banks to experiment with the technology.

14 November 2017

News/Blockchain

CSDs develop model for DLT-based proxy voting aligned with ISO 20022

A consortium of central securities depositories has built a model for an international e-proxy voting product based on distributed ledger technology and embedded with the relevant ISO 20022 standard.

09 November 2017

News/Blockchain

Banks join forces with energy giants on blockchain-based trading platform

ABN Amro, ING and Societe Generale are joining forces with oil giants BP, Shell and Statoil, as well as several trading houses to build a blockchain-based digital platform for energy commodities trading.

07 November 2017

News/Blockchain

SIA to open network nodes to R3 blockchain apps

Italy's SIA is to set up a 600 node network for bank clients, government agencies and corporates to connect to blockchain apps developed by the R3 consortium.

06 November 2017

News/Blockchain

Krungsri turns Related Party Transactions into smart contracts

Thailand's Krungsri plans to use a blockchain toolkit from IBM to streamline and secure the exchange of contracts between the bank and its subsidiaries.

06 November 2017

News/Blockchain

20+ banks and R3 plan DLT-based cross-border payment platform

Blockchain consortium R3 and 22 of its member banks have collaborated on the development of a cross-border payments platform built using distributed ledger technology (DLT).

31 October 2017

News/Blockchain

Bank CIOs put AI, APIs and legacy modernisation at top of transformation agenda

Banking and investment services CIOs are increasingly convinced that their old business models and existing value propositions will not be sustainable in the future, according to a survey from Gartner.

30 October 2017

News/Blockchain

UBS says 1,000 jobs Brexit exodus is "unlikely"

Swiss bank UBS has said that a migration of more than 1,000 jobs from London as a result of Brexit is "more and more unlikely" after receiving "regulatory and political clarifications".

27 October 2017

News/Blockchain

Hong Kong and Singapore joins forces on blockchain trade finance platform

Hong Kong and Singapore have dumped decades-old rivalry for trade flows in South East Asia and signed a fintech co-operation deal to foster the development of innovative financial technology across the region, beginning with a cross-border linkage of DLT-based trade finance platforms.

25 October 2017

News/Blockchain

Wirex and SBI Holdings team on Japan cryptocurrency payments card

UK-based Wirex has formed a joint venture with fintech investing powerhouse SBI Holdings to launch a cryptocurrency payments card in Japan.

23 October 2017