Cryptocurrency Analysis and News Portal
Guangfa Bank, one of the biggest commercial banks in mainland China, has recently launched the first cross-border blockchain-based financial settlement system, allowing for seamless payment settlements between mainland China, Hong Kong and Macau — what China dubs the “Greater Bay Area.” The platform provides a number of different information verification services,
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Ripple has become a member of the ISO 20022 standards body, which is driving a new data standard for payments and data messaging between global financial institutions.The company claims to be the first distributed ledger technology (DLT) focused member of the group, which includes a number of international commercial and
Read MoreADVERTISEMENTS A team of close to 130 people from 17 institutes, organisations and companies in Europe is developing a technology that is intended as an alternative to privacy-invading tracking technologies used in some countries in Asia to combat the COVID-19. Top experts from multiple European nations are working on an open-source
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Thailand’s oldest bank Siam Commercial Bank (SCB) has partnered with Ripple to create a mobile application powered by blockchain to deliver instant, low-cost cross-border payments. Per a Jan. 8 blog post from Ripple, the app — known as SCB Easy — was demoed in December during Ripple’s annual customer event,
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Lu Lei, China’s deputy head of the State Administration of Foreign Exchange (SAFE), recently engaged with stakeholders at a conference in Beijing where he said that the state agency is currently considering expanding the blockchain pilot to facilitate an enhanced integration of fintech and foreign exchange markets.Lei said that in
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Supply chain fintech startup Tradeshift, which boasts two million firms on its platform, says it's slashed the cost of cross-border transactions between buyers and suppliers using the public ethereum blockchain.Tradeshift Frontiers, the innovation division of the Goldman Sachs-backed unicorn, represents invoice values as tokenized IOUs between buyers and sellers and
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Chinese regulator State Administration of Foreign Exchange (SAFE) expanded its blockchain cross-border financing pilot program. Local news outlet GlobalTimes reported on Nov. 11 that the system now covers 19 provinces and cities, up from nine.The development is unsurprising given that at the end of October SAFE deputy head Lu
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A fresh report from Juniper Research claims the total value of B2B cross-border payments stored on the blockchain will exceed $4.4 trillion by 2024 – a massive increase from the mere $171 billion in 2019. advertisement According to research author, Dr Morgane Kimmich: “The implementation of blockchain is part of a wider strategy
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China’s foreign exchange regulator has warned that emerging markets need to muscle in on cryptocurrency-enabled illegal cross-border capital flows.Sun Tianqi, the chief accountant of China’s State Administration of Foreign Exchange (SAFE), made the remarks at a forum today in Shanghai, according to an Oct. 28 report from Reuters.China has
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China is looking into the application of blockchain and Artificial Intelligence (AI) to cross-border financing, Reuters reports on Oct. 27.Blockchain in risk managementLu Lei, the deputy head of the Chinese regulator State Administration of Foreign Exchange (SAFE), reportedly said that there are plans to use blockchain and AI in
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