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Tag Archives: Banks

Zimbabwe Court Lifts Central Bank’s Banking Ban on Bitcoin Exchanges

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The Harare High Court has lifted a ban by the central bank which barred all banks and financial institutions from offering services to cryptocurrency exchanges. The Reserve Bank of Zimbabwe (RBZ) failed to appear for court proceedings in a case in which Zimbabwe crypto exchange, Golix is ...

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Banks Lose International Payments Business to Disruptive Solutions Like Blockchain

Transaction banking faces continued pressure from disruptive solutions from blockchain and cryptocurrency ventures, which are taking a significant share of a once-upon-a-time undisputed market. While bleeding customers and transaction volumes, banks remain confident that its legacy technology is ‘good enough for now.’ Banking Industry in Denial While Losing International Payments Business Over the last year, banks have lost 40% of ...

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Major Banks Pilot Successful Thailand-Singapore Blockchain Remittance

Join our community of 10 000 traders on Hacked.com for just $39 per month. A joint effort by major banks in south-east Asia has led to a successful blockchain-powered cross-border funds transfer in real-time from Thailand to Singapore. In an announcement on Tuesday, Thailand’s Bank of Ayudhya – commonly referred to as Krungsri – revealed a successful pilot test involving ...

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Open Banking and Real-Time Payments Are Changing Banks for the Better – The Merkle

Banks continue to flex their muscles and engage in fintech innovation, opening themselves up in a way previously never thought possible. They were once staunchly resistant to outside intervention, but a recent report from ACI Worldwide and Ovum has revealed that this trend is changing. Almost 90 percent of banks are forging a path toward open banking and real-time initiatives. What is Open ...

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Mitsubishi, MUFG Conduct Successful Pilot Payment With Major Thai Bank’s Blockchain

Several major global banks have successfully completed a cross-border payment pilot test using Thai bank Krungsri’s (Bank of Ayudhya) Blockchain Interledger, according to a press release May 22. The pilot, conducted in the Bank of Thailand’s (BOT) regulatory sandbox, was executed by Japan’s Mitsubishi Group, their banking unit MUFG Bank, and the Standard Chartered Singapore bank. The test involved sending ...

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Amber Baldet, Former JPMorgan Exec Says Banks Will Start Trading Crypto Soon

The former head of JPMorgan’s blockchain operation has said that banks will start to trade cryptocurrency sooner than people think. Banks Are Slowly Changing Their Positions Amber Baldet, a former JPMorgan executive, was speaking during CNBC’s ‘Power Lunch‘ today where she said that banks trading digital currencies was ‘coming sooner than people think.’ She added: “But even where the will ...

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Seven Major Banks Begin Testing Blockchain Trade Finance Platform

Seven of India’s largest banks have joined a Blockchain-powered trade finance initiative led by Indian IT giant InfoSys, a press release announced May 16. The collective, known as India Trade Connect, includes institutions such as Axis Bank, ICICI and South Indian Bank. It was reportedly formed to conduct testing of InfoSys’ Finacle Trade Connect, a blockchain platform designed to “address ...

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Bitcoin Mining Manufacturer Canaan Confirms IPO Filing, Backed By Major Banks

Chinese Bitcoin mining hardware manufacturer Canaan Creative plans to start trading of its IPO as soon as July, Bloomberg reports May 16. Canaan, which confirmed rumors it was planning an IPO with a filing this week, will likely create the largest Bitcoin-focused offering yet seen when it debuts on the Hong Kong stock exchange. Citing anonymous sources, Bloomberg added that ...

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European Central Bank’s Mersch Says Banks Should ‘Segregate’ Crypto Trading

European Central Bank (ECB) board member Yves Mersch has said that banks should “segregate” their dealings in cryptocurrencies from other activities, Reuters reported May 14. Reuters quotes Mersch as raising concerns over the high volatility of crypto markets, emphasizing that digital tokens “do not qualify as money,” and that their issuers, as well as dealers, exchanges, banks, or clearing houses, ...

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