A new almost instant payment system is coming to Brazil in response to cryptocurrency and Blockchain technology. The new system known as PIX, is a creation of the country’s Central Bank and is being promoted as a 24/7 system that…
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China’s Top Bank says that a Government Backed Digital Currency is Close
The people’s bank of China has said that it is progressing smoothly with its development of a government backed digital currency. The bank issued this statement during a conference in Beijing that was held on Jan 2-3 according to an…
Chinese Province Launches Blockchain-based SME Financing Project
The Chinese province of Guangdong’s government launched a Blockchain based financing platform that will help small enterprises in the region access loan financing quicker from commercial banks. The government led project is supported by Oneconnect, which is a fintech firm…
Blockchain in central banks? Banque de France is open to it!
Blockchain in central banks seems to be an idea whose time has come, and Banque de France senior officials endorse it.
Banks May Drop Facebook Due to Regulatory Concerns
An ING executive has warned that banks may be forced to drop Facebook as a customer, if it persists with its plans to develop the Libra project. The executive is concerned that Facebook may continue its project without addressing the…
ECB Banker: Libra Could succeed where Central Banks have failed
Facebook’s Libra could potentially solve some of the problems that have plagued the international payments market for years now, but it might also create others if the regulators don’t get creative. This is according to a European Central banker who…
Ripple adds Dubai-based Bank to its Blockchain Network
Ripple partners with the National bank of Fujairah, in yet another stride towards the development of RippleNet’s Blockchain network. The national bank of Fujairah is a Dubai-based corporate bank that offers corporate and commercial banking services for conducting cross-border payments.…
Germany’s Largest Bank joins JPMorgan’s Blockchain Network
The largest bank in Germany Deutsche bank, has joined JPMorgan’s Blockchain-based network; the interbank information Network (INN) The JPMorgan Blockchain initiative was launched bank in 2017 as a pilot, and has since attracted 320 banks which have all signed up…
Binance set to Launch Dollar Backed Stable Coin
Binance is set to launch a dollar backed stable coin in the United States according to reports. The new Binance stable coin will be known as the Binance USD (BUSD) according to an announcement made by the exchange. The new…
IMF Head: We Should be Open to Cryptocurrencies
Outgoing IMF Head Christine Lagarde, believes financial institutions such as Central banks and other financial bodies should remain vigilant in protecting consumer interests while at the same time being open to innovations like cryptocurrencies. The outgoing International Monetary Fund (IMF)…