Category: banking

Ethereum Investment Vehicle Approved for Small Investors

Individual investors will soon be able to invest in Grayscale Ethereum Trust, billed as “the first U.S. publicly quoted security solely invested in and deriving value from the price of ethereum.” The Financial Industry Regulatory Authority (FINRA), Wall Street’s self-regulatory organization (SRO), has approved public quotation of shares in the trust, […]

Report: Dutch Bank Rabobank Cancels Development of ‘Rabobit’ Crypto Wallet

Dutch bank Rabobank has reportedly canceled its plans to develop a cryptocurrency wallet, technology news outlet The Next Web states on May 23. As Cointelegraph reported, the bank had announced a cryptocurrency wallet service dubbed “Rabobit” as a part of the Rabobank Moonshot fintech innovation program in February last year. […]

State Street’s Blockchain Lead Departs to Build Data Privacy Startup

Moiz Kohari, State Street’s global chief technology architect, has traded his position at the custodian bank for a move into the startup world, he told CoinDesk. Kohari helped kickstart the bank’s wide-ranging technology transformation program structured on a bedrock of distributed ledger technology (DLT) from the point he joined State […]

Myanmar’s Central Bank Wary of Volatile Cryptocurrencies; Cautions Investors to Not Trade

According to a report by The Myanmar Times, published May 20, 2019, the Central Bank of Myanmar (CBM) has warned investors against trading in cryptocurrencies due to their volatile nature. The Burmese Apex Bank Issues an Anti-Crypto Warning Aiming to safeguard novice investors from the volatile nature of digital currencies, […]

Dutch Bank ABN AMRO Launches Blockchain Inventory Tracking Platform ‘Forcefield’

Dutch bank ABN AMRO announced that it is launching a blockchain inventory tracking platform dubbed Forcefield in a press release published on May 17. Per the announcement, the platform is an Internet of Things solution that allows the monitoring of physical trade inventories with sensors and near-field communication chips. Forcefield […]

ABN AMRO Eyes Launch of Blockchain Inventory Platform, Dropping Wallet Plan

As ABN AMRO drops its exploration of a cryptocurrency wallet product, the Dutch bank says it’s seeking to launch a blockchain platform for trade inventory. The bank said in a news release Friday that it’s currently “exploring options” for bringing the platform, called Forcefield, to market, and is in discussions […]

Beyond KYC: Global Regulators Appear Set to Adopt Tough New Rules for Crypto Exchanges

The Takeaway The Financial Action Task Force (FATF) is set to finalize new international standards for regulating cryptocurrency firms next month. Those standards are widely expected to subject crypto exchanges, wallet providers and others to the “travel rule” long followed by correspondent banks. Industry representatives say this requirement would be […]

Report: Major Banks Are Investing $50 Million to Build Digital Cash Settlement System

First reported in 2017, the Swiss bank UBS-led project to create a digital cash settlement system is expected to get an investment of $50 million from some of the largest banks around the world. Unnamed sources linked to the project told Reuters May 17, 2019. Research and Development Almost Complete […]