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Tag Archives: Bank

Kuwait Bank Adopts Ripple for Instant Cross-Border Payments

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The Kuwait Finance House (KFH) has become the Arab nation’s first bank to join RippleNet, an enterprise blockchain network from industry giant Ripple, for international remittance payments. In an announcement, the Kuwaiti bank confirmed its move to join RippleNet, a SWIFT-replacement global blockchain network that sees over ...

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Bank Shutout Forces Major Polish Crypto Exchange to Move to Malta

Bitbay, the largest cryptocurrency exchange in Poland, has decided to suspend its activities in the country as banks will no longer cooperate with the company, the exchange announced May 29. The exchange will instead be conducted by a new supplier in the jurisdiction of the Republic of Malta, where local laws are more crypto-friendly. Bitbay states that their business in ...

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Bank Of England Reopens The Possibility Of Bank-Run Cryptocurrency

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The Bank of England has not closed the door on a central bank-issued cryptocurrency, despite announcing such a decision earlier this year. Mark Carney, the governor of the Bank of England, speaking on a panel in Stockholm on the future of central banks, said he would consider ...

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Russian Central Bank Official: Blockchain is Not Yet Mature Enough for Industrial Use

A senior official at the Central Bank of the Russian Federation has stated that additional research and exploration is needed to fully grasp the potential benefits of the blockchain technology. Olga Skorobogatova was speaking in a discussion held at the SPIEF conference in Saint Petersburg. Does Blockchain Need Better Scaling Solutions and Security Advances? During Skorobogatova’s address she stated that ...

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Blockchain Tech Isn’t Mature Enough Yet, Says Russian Central Bank Official

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. A senior official at Russia’s central bank has contended that blockchain technology needs to improve in security and scale and is currently not ‘mature’ enough. Bank of Russia deputy governor Olga Skorobogatova was speaking at the annual St. Petersburg International Economic Forum during the weekend when she ...

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Central Bank Digital Currencies Can Jeopardize Commercial Banks

The Bank of England has issued a May 2018 staff working paper, which suggests that the adoption of central bank digital currencies (CBDCs) could pose a competition threat to commercial banks. Currently, the conventional – and profitable – business model of commercial banks relies on a plentiful and cheap supply of retail deposits, i.e. the storage of individuals’ and corporations’ ...

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Open to the Idea of a Central Bank Digital Currency

The Governor of the Bank of England Mark Carney said at the Riksbank Anniversary conference that he was open-minded about the prospect of a central bank digital currency (CBDC), Bloomberg reports May 25. Riksbank is the central bank of Sweden. While he reportedly is not opposed to the idea of implementing a CBDC, Carney stressed that any such adoption of ...

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Mark Carney: BoE Remains Open to Possibility of Central Bank Crypto

Speaking on the future of central banking, Mark Carney says the primary role of banks is maintain trust in money. As for cryptocurrencies, a Bank of England-backed coin is, for now, not being seriously considered because the current volatility inherent in the coins prevent them from being a secure medium of exchange. At the panel in Stockholm, the BoE governor ...

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Russia’s Central Bank Will Host an ICO Pilot on its Regulatory Platform

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Russian banking giant Sberbank and the country’s National Settlement Depository will test an initial coin offering on a central bank regulatory platform. Sberbank and the National Settlement Depository (NSD), Russia biggest bank and the securities depository respectively, will test the issuance of an initial coin offering (ICO) ...

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Biggest Thai Bank Joins R3 Consortium’s Trade Finance Pact Marco Polo

Thailand’s largest bank has joined a trade finance program utilizing R3’s Corda distributed ledger technology (DLT), sources reported May 24. R3, a New York-based consortium of over 200 companies, uses technology based on blockchain to allow businesses to develop applications on top of its Corda platform. Bangkok Bank, which joined the R3 Consortium in August 2016, is now on board ...

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