Blockchain 

Deutsche Bank Joins JPMorgan’s Interbank Information Network Platform

Germany’s largest bank, Deutsche Bank, has joined 320 other banks in the JPMorgan blockchain network, the Interbank Information Network (IIN). The move aims to lower cost for Deutsche Bank, which handles a vaster amount of euro payments relative to any other bank globally. This will also enhance cross-border transactions and thus avoid the costly lag periods. IIN Platform to Enhance Cross-Border Transactions According to the bank’s head of cash management globally, Ole Matthiessen, the Interbank Information Network will allow the bank to provide customers with enhanced services. He added that…

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Blockchain 

South Korea’s Shinhan Bank is Building a Blockchain Security System

According to reports, the oldest bank in South Korea, Shinhan Bank, is soon to be the most technologically secure bank. The bank has partnered with two other companies to develop a blockchain-based security solution. Moving with the times indeed. South Korea’s Shinhan Bank is Making a Blockchain Security Solution According to a report published earlier today in TheKoreaTimes, Shinhan Bank signed a memorandum of understanding with two developers: financial technology startup Ground X and blockchain developer Haxlant. The pair have been tasked with developing a blockchain security system for the bank. More…

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Blockchain 

Ripple (XRP) Gains After Bank of America Includes Ripple Ledger

Ripple (XRP) has turned bullish as the number of banks leveraging its decentralized network for cross border payments continues to rise. Reports that Bank of America has filed a patent for a settlement system citing Ripple ledger is one of the catalysts fuelling XRP price action right now. Ripple Price Catalysts The patent describes a system that utilizes a distributed ledger technology to facilitate interbank communication. With the proposed system, BAC seeks to enable real-time settlements through a decentralized ledger. The filing of the patent is of great importance as…

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Blockchain 

JPM Coin Launches | JPMorgan Launches First US Bank Cryptocurrency

The first digital currency created by a major US bank is finally here! This morning, CNBC was first to report that JPMorgan Chase has officially launched its own cryptocurrency. The first JPM Coin trial is set to launch in just a few months. JPM Coin Makes Trial Debut JPMorgan Chase moves more than $6 trillion around the world a day and soon the company will test its new JPM coin. The bank’s new digital currency will be tested to settle payments between its clients. JPMorgan’s trial will start small but it’s…

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Blockchain 

Santander Bank Enters $700 Million Deal to Use IBM Blockchain

According to Cointelegraph, Europe’s Banco Santander and tech behemoth IBM have announced an accord involving the IBM blockchain. The pair signed a $700 million USD deal aiming to increase Santander’s technological developments. The news was released yesterday via a press release. IBM Blockchain The deal is a five-year “global technology agreement” that will improve the bank’s services by using innovative technology such as blockchain, AI, and big data. IBM will take care of the technology behind its new services. IBM has been leading the blockchain revolution in business across the globe. Only…

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Cryptocurrency 

Philippines Union Bank Launches Crypto ATMs

One of the Philippines largest banks, Union Bank, is set to launch the first two-way crypto ATMs in the country. Union Bank Crypto ATMs Customers will be able to buy and sell cryptocurrencies for cash through the ATM. The idea is to provide an easy and accessible means for crypto to fiat conversion and vice versa. The move may help to spur on adoption for the digital asset. Union Bank said the following on the crypto ATMs: “In the bank’s continued quest to cater to the evolving needs and tastes…

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Blockchain 

ING Bank Teams Up with R3 in a Five-Year Blockchain Deal

ING Bank, a major Dutch International bank, has just announced that it has signed a five-year deal with R3. R3 is an enterprise blockchain consortium that holds a commercial blockchain platform. R3 released the news in a press release yesterday. ING Bank Takes on Blockchain R3’s commercial blockchain platform is called Corda Enterprise. This new five-year deal allows ING Bank a number of licenses for Corda and can roll out access to the platform. Corda will be rolled out through ING Bank globally and seek to deploy production-ready CorDapps across various business…

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