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A Singaporean banking branch of CIMB Group, one of the largest Asian investment banks, has completed its first blockchain-based trade financing transaction.The transaction was processed using blockchain and Internet of Things (IoT) platform developed by local trade financing firm iTrust Trading, Yahoo Singapore reports Oct. 17.By applying iTrust’s blockchain-based
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Dubai Chamber of Commerce and Industry (DCCI) has partnered with the major regional bank Emirates NBD by signing a memorandum of understanding (MoU) to boost the development of the blockchain-powered Digital Silk Road initiative.Emirates NBD was the first bank in the region to launch a blockchain pilot in this domain
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The China Construction Bank (CCB) officially released the second version of its blockchain trading platform, which reached 360 billion yuan ($50 billion) in cumulative transaction volume.CCB will actively promote blockchain platformOn Oct. 9, Xinhua news agency reported that CCB, one of the big four banks in the People's Republic
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Bank of Ireland (BOI) executives have backed out of the testimony before the United States Government in the criminal proceedings regarding a $400 million worth money laundering scheme through cryptocurrency scam OneCoin.No testimony on voluntary basisAs fintech-focused news outlet FinanceFeed reported on Oct. 11, the U.S. Government filed a
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Crypto wallet and debit card service company Cryptopay now offers transfers with the British Pound (GBP) through the Faster Payments Scheme.Cryptopay revealed the development in a press release with CryptoX on Oct. 9, specifying that its United Kingdom-based users can now fund their accounts and make withdrawals with GBP,
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Major South Korean bank KB Kookmin Bank is planning to integrate blockchain technology into its internal processes.As local news outlet Korea JoongAng Daily reported on Oct. 7, the institution said blockchain technology could offer a multitude of benefits to the financial industry, including the issuance of digital tokens, funding,
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Hong Kong-based China Merchants Bank International (CMBI) will develop and launch blockchain-based solutions for its financial services.CMBI and Huobi partner with NervosIn an Oct. 3 press release shared with CryptoX, CMBI, a wholly-owned subsidiary of China Merchants Bank, announced that it is partnering with Chinese blockchain startup Nervos to
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Coinbase has reinstated U.K. bank deposits and withdrawals following a months-long banking holdup. As announced by the company’s U.K. arm in a blog post Thursday, British pound (GBP) deposits and transfers are available once again for local Coinbase customers. GBP
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Libra, the underfire planned cryptocurrency from Facebook (NASDAQ:FB), has been described as a monetary threat by senior US bank executives in a meeting with the Federal Reserve. Senior Bank Execs Opposed to Libra Libra has been heavily scrutinized by regulatory bodies and financial institutions across the globe since it was first announced
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‘Do business in Real-Time’ The Bank of America has finally announced its RTP payments product is to be rolled out over the next year. The Bank of America has been trialing xCurrent successfully, now they could utilize XRP to allow companies to pay employees instantly. Immediately send and receive payments using the
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