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The Singapore-based multinational banking entity DBS and Standard Chartered have completed the proof-of-oncept of their blockchain trade finance platform called the Trade Finance Registry.The two entities developed the PoC in collaboration with 12 other banks on top of the blockchain platform of Singapore-headquartered company dltledgers. dltledgers told Cryptox that the
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The unprecedented plunge of the shares of HSBC and Standard Chartered on the Hong Kong Stock Exchange has pushed the exchange to lead losses in the Asian region.Renowned international banks including the Hong Kong-based arms of HSBC Holding Plc (HKG: 0005), Standard Chartered Plc (HKG: 2888), and others have been
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Per a July 22 announcement shared with Cryptox, the Office of the Comptroller of the Currency (OCC) is granting permission to federally chartered banks to custody cryptocurrency.The future of banking with crypto on boardThis issue has seen much skepticism, given that crypto wallets do not resemble the custody requirements of
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Standard Chartered says it's issued the first blockchain-based international letter of credit (LC) transaction using China's national currency, the yuan. The London-based bank said earlier this week that the transaction, for a deal between Australian mining giant Rio Tinto and Chinese steelmaker Baosteel, was carried out over the blockchain trade
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International banking group Standard Chartered has become the latest member of a blockchain standard-building organization, the Ethereum Enterprise Alliance (EEA).In a press release issued on Nov. 6, Standard Chartered said the move would allow it to expand its client offerings across its 60 international markets.Standard Chartered is latest EEA
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Financial experts and analysts are raising alarming concerns on the growing chances of US recession in the next year. Investors looking towards Bitcoin as a potential hedge.Investors and financial experts have been continuously raising concerns on an impending US recession expected over the next one year. Clive McDonnell, head of
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