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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The New York Federal Reserve and several large U.S. banks have successfully conducted an experiment using distributed ledger technology (DLT) to facilitate domestic and international transactions among various financial institutions. The “regulated liability network” experiment According to Bloomberg, the
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The Federal Reserve Bank of New York’s Innovation Center (NYIC) has completed its proof of concept of a regulated liability network (RLN) in conjunction with nine large financial institutions and the Swift network. The project created theoretical infrastructure to exchange and settle commercial bank deposit tokens and central bank liabilities
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Mastercard has launched a new artificial intelligence (AI)-power tool which is aimed at helping banks fight payment fraud and scams in real-time prior to any monetary exploits.According to an announcement from the financial services provider on July 5, the ‘Consumer Fraud Risk’ solution’s AI is trained using years of transaction
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Born and raised in Greece to Lebanese parents, and now living in Cyprus, I’ve paid for the failed risk governance of banks on this island (2013), the 2016 capital controls in Greece limiting people to 20 euros a day, and the hyperinflation and value-loss of having my dollar deposits turned
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The United States Federal Reserve has determined that all 23 of the country’s largest banks would be able to survive a severe recession following its “stress tests.”The report issued on June 28 also showed relative weakness among the midsize and regional banks. However, the stress test only required the 23
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The Bank for International Settlements (BIS) Innovation Hub published an interim report on Project Mariana, its collaboration with the central banks of France, Singapore and Switzerland, on the use of wholesale central bank digital currency (wCBDC) in tokenized foreign exchange trading. The project is a proof-of-concept that considers questions relating
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Surprise! Wyoming is the top-ranked U.S. hub. Many of CryptoX’s Crypto Hubs 2023 criteria were measured on a national basis, so all of the U.S. hubs were hampered by a middling crypto regulatory score, a measure in the drivers category and the most heavily weighted criteria – 35% – of
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Australia’s cryptocurrency industry banking woes will likely continue, with the government and major banks signaling no intention to back down against scams that “touch” crypto.During a panel at the Australian Blockchain Week on June 26, Sophie Gilder, managing director of blockchain and digital assets at Commonwealth Bank (CBA) shed light
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The Monetary Authority of Singapore (MAS), in collaboration with the IMF and other central banks, is proposing common conditions for retail payments with digital money on a distributed ledger. Source
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Several Wall Street Banks, including Goldman Sachs, have cut their outlook on growth in China as the economy struggles. Leading global investment banking and management firm Goldman Sachs has joined several Wall Street banks to reduce its growth outlook for China. This downgrade comes as the East Asian powerhouse is experiencing
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