Singapore’s iSTOX to Launch a Regulated Digitized Securities Platform in 2020

Capital markets platform iSTOX has joined Singapore’s regulatory sandbox to launch digitized securities trading in late 2019, the firm announced in a tweet on May 24. Following its addition to the Monetary Authority of Singapore (MAS)’s FinTech Regulatory Sandbox on May 1, the Singapore-based company will start providing service for the trading of digitized securities […]

Russia’s Central Bank to Consider Gold-Backed Cryptocurrencies for Mutual Settlements

Russia’s central bank, the Bank of Russia, will consider issuing a gold-backed cryptocurrency, Russian news agency TASS reports May 23. Elvira Nabiullina, the head of the Bank of Russia, revealed that the bank may be interested in creating a gold-pegged crypto for conducting mutual settlements with global jurisdictions. However, Nabiullina claimed that she believes that […]

Dutch Bank Rabobank Cancels Development of ‘Rabobit’ Crypto Wallet

Dutch bank Rabobank has reportedly canceled its plans to develop a cryptocurrency wallet, technology news outlet The Next Web states on May 23. As Cointelegraph reported, the bank had announced a cryptocurrency wallet service dubbed “Rabobit” as a part of the Rabobank Moonshot fintech innovation program in February last year. Still, a spokesperson of the […]

Four Banks Successfully Test New Blockchain Platform for Processing Promissory Note Loans

A group of four banks have successfully issued a promissory note — a type of legally binding loan agreement — through a new blockchain platform, a news release on May 21 announced. The financial institutions used finledger to complete the transaction. According to Helaba, one of the banks involved, the platform reduces the steps involved with issuing such […]

Crypto Merchant Bank Galaxy Digital Sells Shares in EOS Creator Block.One for $71 Mln

Crypto merchant bank Galaxy Digital has sold its shares in EOS developer Block.one for $71.2 million. The news was announced in a press release on May 21. According to the release, the bank reportedly accepted EOS’ tender offer back in April, closing the transaction on May 20 to realize a 123% return on its initial […]

Central Bank of Laos Issues Warning Against Using Cryptocurrency

The central bank of Laos has warned the public against the use, purchase or sale of digital currencies, local news outlet Vientiane Times reported on May 21. The Bank of the Lao PDR has issued a warning to financial market participants and the public against cryptocurrency transactions as they are considered illegal in the country. […]

Dutch Bank ABN AMRO Launches Blockchain Inventory Tracking Platform ‘Forcefield’

Dutch bank ABN AMRO announced that it is launching a blockchain inventory tracking platform dubbed Forcefield in a press release published on May 17. Per the announcement, the platform is an Internet of Things solution that allows the monitoring of physical trade inventories with sensors and near-field communication chips. Forcefield was developed over the past […]

UK-Based Global Funds Network Calastone Switches Entire System to Blockchain

London-based global funds network Calastone announced that it switched its entire system for fund trade clearing services to its blockchain Distributed Market Infrastructure (DMI) in a press release published on May 20. Per the release, the migration of the company’s over 1,800 customers over 41 markets “represents the largest community of global financial services organisations […]

ABN AMRO Eyes Launch of Blockchain Inventory Platform, Dropping Wallet Plan

As ABN AMRO drops its exploration of a cryptocurrency wallet product, the Dutch bank says it’s seeking to launch a blockchain platform for trade inventory. The bank said in a news release Friday that it’s currently “exploring options” for bringing the platform, called Forcefield, to market, and is in discussions with firms in the commodities […]

Even the Banking Goliaths Will Have to Embrace Crypto, Blockchain Innovation

Ripple CEO Brad Garlinghouse has argued that the biggest banks have a strong reason to embrace crypto and blockchain innovation, despite the apparent threat it poses to their current oligopoly. The CEO made his remarks during an interview on the Recode Decode podcast with Kara Swisher on May 20. Throughout the interview, Garlinghouse underscored that […]