14 Banks, 5 Tokens: Fnality’s Expansive Vision for Interbank Blockchains

The Takeaway: With $63.2 million in fresh funding from 14 banks, Fnality is building tokenized versions of five major fiat currencies. The digitized fiat would be fully collateralized by cash held at central banks and is meant to solve the “cash on ledger” problem faced by other financial blockchain projects. The consortium says it is open […]

Project Inthanon: Wipro and R3 Launch Interbank Settlement Blockchain with Digital Currency

In a press release to the Bombay Stock Exchange on May 7, 2019, Indian IT powerhouse Wipro along with the R3 consortium announced the launch of an interbank settlement blockchain that will utilize digital currencies. While many Indian companies are researching and implementing distributed ledger, Wipro is the first Indian company to associate itself with […]

Italian Banking Association Further Tests Interbank Blockchain System Powered by R3 Corda

The Italian Banking Association (ABI) is now testing a blockchain interbank solution based on blockchain consortium R3’s open-source distributed ledger platform Corda, fintech news outlet FinExtra reports on Wednesday, Feb. 13. The ABI states that the platform has been developed together with its technical partners — R3, Japanese IT firm NTT Data and Italian ICT […]

Islamic Financial Institution Partners With Startup to Develop Interbank Blockchain Tools

Saudi Arabian developmental institution the Islamic Development Bank Group (IsDB) has partnered with a Tunisian startup to develop interbank blockchain tools, a press release confirmed Nov. 29. IsDB, which will conduct the project through its private sector subsidiary, the Islamic Corporation for the Development of Private Sector (ICD), wants to improve Islamic financial institutions’ liquidity […]

Italian Bank Consortium Trials Interbank Transfers On R3’s Corda

The second largest bank in Italy, Intesa Sanpaolo, and 13 other banks have successfully completed the first phase of an interbank reconciliation blockchain trial. The tests, which started on June 4, were held in conjunction with ABI Lab – a research lab supported by the Italian Banking Association (ABI) – and finished last week. The project […]

South Africa’s Central Bank Debuts Interbank Settlement System on JPMorgan’s Quorum

The South African Reserve Bank (SARB) has released its report on Project Khokha, a Proof-of-Concept designed to simulate a real-world trial of a distributed ledger technology (DLT)-based wholesale payment and settlement system. Project Khokha: South Africa’s Blockchain-Based Settlement System The Proof-of-Concept (PoC) is for interbank transfers using Quorum, JPMorgan’s Ethereum-based blockchain. An official statement detailing […]

Thailand Trials Central Bank Digital Currency for Interbank Settlement

Thailand’s central bank is examining how a blockchain-based digital currency could make interbank settlement both faster and cheaper. Source link