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Tag Archives: Bank

Thailand Will Trial Central Bank Digital Currency

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Thailand’s central bank chief has confirmed research into a number of blockchain applications in banking including Project Inthanon involving a central bank digital currency used for interbank settlements. In a speech [PDF] centered on Thailand’s economy at a financial summit in Singapore on Tuesday, Bank of Thailand ...

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Swiss Bank Becomes First in Country to Offer Business Accounts to Crypto Companies

Hypothekarbank Lenzburg has become the first bank in Switzerland to provide business accounts to blockchain and cryptocurrency companies, Cointelegraph auf Deutsch reported June 6. While Falcon Private Bank has provided crypto asset management services since last year, Hypothekarbank Lenzburg CEO Marianne Wildi confirmed that they are first bank in the country to open company accounts for blockchain and crypto-related fintech ...

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World’s Top Crypto Exchange Binance Sets Up Bank Account in Malta

Zhao Changpeng, the CEO and founder of Binance, revealed the company has set up a bank account in Malta, in an exclusive interview with Cointelegraph Wednesday, June 6th. Binance is currently the world’s largest crypto exchange with $1.47 bln in trade volume, according to Coinmarketcap data. The move brings the exchange one step closer to its plans to offer fiat-to-crypto ...

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Ethereum-Based Blockchain Payments Trial a Success: South Africa’s Central Bank

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. South Africa’s central bank has revealed remarkable results of Project Khokha, its proof-of-concept trial to replicate interbank payments and settlements on an ethereum-based enterprise blockchain. The South African Reserve Bank (SARB) has published its report [PDF] on a “real-world’ trial of a blockchain-based wholesale payment system lasting ...

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Crypto-Wary Australian Bank to Pay Record Fine For AML/KYC Violations

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The Commonwealth Bank of Australia (CBA), which recently banned customers from buying cryptocurrency with credit cards, has agreed to pay AUD $700 million in addition to legal costs for violating anti-money laundering and anti-terrorist laws that delivered millions of dollars to drug dealers, according to ABC News. ...

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Chinese Central Bank Develops Blockchain System to Digitize Paper Checks

The People’s Bank of China (PBoC) has revealed a blockchain-powered system to digitize paper checks, local media Financial News reports June 5. The system aims combat financial fraud as well as reduce expenses for printing checks. According to Di Gang, an official at the bank’s digital currency research department, the platform comes after a year of development. Di said that ...

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South Africa’s Central Bank Pilots Tokenized Fiat Interbank Payment System

South Africa’s Central Bank (SARB) has successfully piloted a Proof-of-Concept (PoC) for an interbank payment system that tokenizes fiat using Quorum, according to an SARB press release published June 5th. Quorum is an Ethereum-based private blockchain. According to SARB’s report on the pilot, dubbed ‘Project Khokha,’ all of the bank’s goals were successfully achieved, the primary aim being “to build ...

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Central Bank Execs Conclude Crypto Is No Threat to Fiat, Yet

Representatives from multiple central banks discussed whether or not cryptocurrency could spell the end of fiat currencies during the Money20/20 conference in Amsterdam today, June 5. During a panel talk titled “Cryptocurrency, the Central (Bank) Question”, representatives from the Swiss National Bank, the Bank of Lithuania, the Bank of England, and the Bank of Canada took turns responding to the ...

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Norway’s Largest Bank Partners IOTA for Distributed Ledger Solutions

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. IOTA announced a partnership with DNB ASA on May 31. As part of the partnership, DNB and IOTA are exploring ways to implement the new technologies and processes made possible IOTA’s “Tangle.” DNB is the largest financial service firm in Norway based on market capitalization. The firm ...

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