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Posts Tagged ‘Bank’

IMF and World Bank Launch Educational Blockchain Token

The International Monetary Fund (IMF) and the World Bank have launched a crypto token called “Learning Coin” to better understand how blockchain technology works. The two institutions said that the coin would have no monetary value and would not be made openly available, the Financial Times reported Saturday. To support the token, the IMF and the World…

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Resona Bank Ends Partnership With Ripple-Based Payment App MoneyTap

Major Japanese bank Resona will withdraw from Ripple-powered blockchain payment project MoneyTap on May 13, the bank announced on April 11. A subsidiary of Resona Group, the fifth largest banking group in Japan as of 2012, Resona Bank joined the project in October 2018, along with SBI Sumishin Net Bank and Suruga Bank. Launched on…

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Japanese Bank Abandons Work With SBI Ripple’s ‘Money Tap’ App

Resona, one of the three Japanese banks working with SBI Holdings and Ripple on their cash transfer app Money Tap, is pulling out of the project. The bank – Japan’s fifth largest – announced the decision on Thursday, saying that it would cancel the remittance service provided through the app on May 13. It did not…

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Major Bank CEOs Testify at US Congress, Topics Include Blockchain and Crypto

Chief executive officers of leading banks testified before the United States House of Representatives Financial Services Committee on April 10 on how the banking industry has transformed since the 2008 financial crisis. Among many topics spanning the breadth of the banking industry, the CEOs and lawmakers discussed blockchain technology and cryptocurrencies. During his allotted time…

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Societe Generale-Owned Bank Launches Blockchain Exchange Note

Kleinwort Hambros, a Societe Generale-owned private bank and wealth manager, has launched an actively managed exchange-traded note (ETN) targeting the blockchain sector. The London-based bank announced the news on Monday, saying its Luxembourg-listed ETN will invest in companies that could “profit most” from the development and increasing uptake of blockchain technology. ETNs are unsecured debt securities that,…

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Thai, Myanmar Central Bank Governors Endorse Blockchain Remittance Service

The governors of two central banks endorsed the Ethereum (ETH)-based remittance system developed by blockchain company Everex, the firm reported in a press release shared with Cointelegraph today, April 5. The service is set up to send payments between Thailand and Myanmar. The system was reportedly presented by the startup, along with its partners, state-owned…

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Former Simple Bank Co-Founder Unveils New Blockchain Payments Startup

A new startup launched by the former co-founder of Simple Bank wants to provide early-stage fintech startups with traditional banking service functionality. Sila, founded last year and until now operating in private alpha test phase, unveiled an open beta Thursday, inviting developers of fintech firms – including blockchain and crypto startups – to begin building new…

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Central Bank Digital Currencies Won’t Be on Blockchain

American economist and notorious crypto critic Nouriel Roubini has argued that if and when central bank digital currencies (CBDCs) are adopted, they won’t be based on blockchain. Roubini — otherwise known as “Dr. Doom” for his prediction of the 2008 housing bubble collapse — made his comments during a joint panel with Ethereum (ETH) co-founder…

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A Small Bank in Germany Is Now Nearly 30% Owned by Crypto Companies

Almost 30 percent of the equity in WEG Bank AG, a previously obscure German bank focused on the real estate industry, is now owned by companies in the cryptocurrency industry, CoinDesk has learned. By purchasing 9.9 percent of the bank, blockchain startup Nimiq now joins TokenPay and the Litecoin Foundation as part owners of the…

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