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Pakistan banks agree on blockchain-based KYC system development

Pakistan Banks’ Association (PBA) — a group of 31 traditional banks operating in Pakistan — signed off on the development of a blockchain-based platform for Know Your Customer (KYC) initiatives. On March 2, PBA signed the project contract for developing Pakistan’s first blockchain-based national eKYC (electronic Know Your Customer) banking platform,

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Pakistan Banks to Use Blockchain Technology for KYC – Blockchain Bitcoin News

Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and self-regulated network. Banks of Pakistan Looking to Employ Blockchain for

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Central Banks Continue to Show Strong Demand for Gold in 2023, Says World Gold Council Report – Economics Bitcoin News

Central banks show continued demand for gold in 2023, as per a recent report from the World Gold Council (WGC), which noted that the world’s central banks accumulated 31 tons of the precious metal in January. Turkey was the largest gold buyer, adding 23 tons to its central bank’s stash,

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UK banks HSBC, Nationwide to ban crypto purchases with credit cards: Report

United Kingdom babanks HSBC Holdings and Nationwide Building Society are banning cryptocurrency purchases via credit cards for retail customers. They join a growing list of banks in the country to tighten restrictions on digital assets. A Bloomberg report on March 2 claims the step back is a response to warnings by

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Trio of Japanese Banks Look to Embark on Stablecoin Experiment

Japanese banks Tokyo Kiraboshi Financial Group, The Shikoku Bank, and Minna no Bank are reportedly launching a stablecoin to enhance payments. Three Japanese banks are planning a stablecoin experiment toward implementing a payment system that satisfies legal requirements. According to a press statement released Thursday, the involved banks are Tokyo Kiraboshi Financial

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Crypto distribution is uneven among banks as prudential exposure rises: BIS report

Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere. According to the report, which is based on data from the first half of 2022, 17 Group 1 banks reported approximately

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