The Marco Polo Network, a trade finance network co-developed by major blockchain firm R3, has completed its largest finance trial to date. The Marco Polo Network, a trade finance network co-developed by major enterprise blockchain firm R3, has completed its largest finance trial. Built on R3’s open-source blockchain platform Corda, Marco Polo has hosted the…
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CipherTrace claims that major U.S. banks may be processing up to $2 billion in undetected crypto-related transfers each year. Blockchain intelligence firm CipherTrace has claimed that large banks may be processing up to $2 billion in undetected cryptocurrency-related transfers each year. In a press release shared with Cointelegraph on Dec. 16, CipherTrace claims that its…
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The government of crypto-friendly Switzerland has said that there are no current benefits to issuing a digital franc. The government of cryptocurrency-friendly Switzerland has shot down the idea of issuing a digital Swiss franc, for now. According to a Dec. 13 press release published on the Federal Council’s website, the Federal Council approved a report…
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The International Blockchain Monetary Reserve and blockchain firm Algorand are jointly launching a microfinance platform and a dedicated token. The International Blockchain Monetary Reserve (IBMR) and blockchain firm Algorand are jointly launching a microfinance platform and a dedicated token to promote financial inclusion in Southeast Asia. Per a press release shared with Cointelegraph on Dec.…
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Cryptocurrency lending firm BlockFi announced that it obtained a money transmission license in the United States member state of Washington. Cryptocurrency lending firm BlockFi announced in an email that it obtained a money transmission license (MTL) in the state of Washington in the United States. The firm explained that the license will allow BlockFi to…
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The president of the European Central Bank (ECB), Christine Lagarde, said that the financial institution should be ahead of the curve in regards to the demand of stablecoins. The president of the European Central Bank (ECB), Christine Lagarde, said that the financial institution should be ahead of the curve regarding the demand for stablecoins. According…
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Amsterdam-based bank and financial services firm ING is reportedly developing cryptocurrency custody technology. Amsterdam-based bank ING is reportedly developing cryptocurrency custody technology, Reuters reported on Dec. 12. The digital assets custody service being developed by ING is purportedly part of one of the bank’s several blockchain-related initiatives and is still at an early stage of…
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Berlin-based fintech company solarisBank has established a subsidiary, solaris Digital Assets GmbH, to provide a custody solution for digital assets. Berlin-based fintech company solarisBank has established a subsidiary to provide a custody solution for digital assets. Per a Dec. 11 announcement, solarisBank’s newly established subsidiary, solaris Digital Assets GmbH, will provide clients with an application…
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The Bank of Lithuania said that central banks’ “parental controls” are obsolete when it comes to crypto assets. The Bank of Lithuania said that central banks’ “parental controls” are obsolete when it comes to crypto assets, but that should not prevent them from entering the space in order to understand it. In an analysis dedicated…
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China Construction Bank, the world’s second-biggest bank, has officially launched its blockchain-based refactoring platform. China Construction Bank (CCB), the world’s second-biggest bank by operated assets, has officially launched its blockchain-based refactoring platform. Targeting commercial factoring business, CCB aims to bolster operations and reduce major risks in its refactoring business while providing shared data access by…
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