Banking / 8:41 am

Payments Startup Bitwala Now Offers Crypto Banking in Germany

Germany-based crypto payments startup Bitwala is now offering crypto banking services in the country. Claiming the launch is Europe’s first such banking solution, the firm announced Wednesday the service becomes available via a partnership with local fintech firm SolarisBank that has a banking license and thus is fully regulated. Users can now manage both bitcoin […]

Banking / 10:12 am

Not Everyone Wants a Bitcoin ETF

While many traders eagerly await a potential bitcoin exchange-traded fund (ETF), some of the cryptocurrency’s most passionate advocates are lukewarm at best about the prospect of such an instrument. Twitter is flush with users like crypto entrepreneur Jonathan Hamel posting about how an ETF would bring an “epic” inflow of institutional capital to the ecosystem […]

Banking / 2:06 pm

Russia’s Sberbank Uses Smart Contract to Settle Three-Way Repo Deal

State-owned Russian bank Sberbank has completed a repurchase agreement, or repo, using blockchain technology. The bank announced Thursday that, with participation from Region Brokerage Company and the country’s National Settlement Depository (NSD), it settled the “world’s first” three-way over-the-counter (OTC) repo using a smart contract. In a repo, securities are sold to an entity, with the […]

Banking / 4:53 am

4 Banks Complete €100K Commercial Paper Transaction on R3’s Corda

Four European banks – Commerzbank, ING, Natixis and Rabobank – have settled a live transaction for a short-term debt instrument on the Corda platform developed by blockchain consortium startup R3. According to a report from FinTech Futures on Thursday, the transaction involved an issuance of a one-day maturity euro commercial paper (ECP) worth €100,000 (or […]

Banking / 12:45 pm

Blockchain ‘Radically Simplifies’ KYC, Say UAE Trial Participants

Abu Dhabi Global Market (ADGM), an international financial free zone within the United Arab Emirates, says it has successfully completed the trial of a blockchain-based know-your-customer (KYC) application. ADGM announced Tuesday that the first phase the project has been concluded in association with its regulatory body, the Financial Services Regulatory Authority (FSRA), and project advisor […]

Banking / 8:41 am

Signature Bank Wins New York Approval for ‘Real-Time’ Blockchain Payments

New York-based Signature Bank is launching a digital payments platform built on a blockchain architecture to streamline real-time payments. Announced Tuesday, the Signet platform will allow the bank’s customers to conduct payments at any time of the day, beginning Jan. 1, 2019. Signature Bank claims that all transactions made will be secure, require no transaction […]

Banking / 1:56 pm

Crypto Custody? State Street Is Waiting on a Client Shift, Exec Says

State Street, one the largest institutional custodians on the planet, said there is no sense of urgency – at the moment, at least – from clients for the firm to move into safeguarding crypto assets. Speaking at the American Banker BlockFS conference in New York on Thursday, Jay Biancamano, State Street’s managing director for digital product […]

Banking / 12:02 pm

How Silvergate Became the Leading Bank for Crypto Startups

It’s been a long journey for Alan Lane since the Silvergate Bank CEO bought his first bitcoin in 2013. That was around the time his small, deposit-hungry bank, based in La Jolla, California, took on its first crypto exchange as a client. It was a gutsy move for a financial institution, since at the time […]

Banking / 8:03 am

ConsenSys Backs $2.1 Million Funding Round for Ethereum Privacy Startup

ConsenSys Labs has led a $2.1 million seed round for AZTEC, a startup that’s working to make ethereum transactions private so financial institutions can comfortably use the second-largest blockchain. Announced Thursday, other investors in the round include Entrepreneur First, Samos Investments, Jeffrey Tarrant (Mov37) and Charlie Songhurst. AZTEC, created by the mathematician Tom Pocock and […]

Banking / 8:39 am

Goldman, Morgan Stanley Go Live With CLS’ IBM-Powered Blockchain

CLS, the bank-owned currency trading utility, and IBM have gone live with their blockchain-based payment netting service after more than two years in development. Investment banking giants Goldman Sachs and Morgan Stanley are the first companies to use the newly launched CLSNet, with six more participants from North America, Europe and Asia, including Bank of China […]