On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international…
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Certain large investment banks are again exploring how blockchain technology and tokenization of assets can make their own operations more efficient — but for some in the crypto community, the banks’ moves in crypto resemble something they have seen before…. Read More: Banks Exploring Blockchain, Tokenization Again is a ‘Fire Signal We’re in a…
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Following the controversial bank bailouts and Troubled Asset Relief Program (TARP) in 2008, reports show in late 2019 and 2020, the U.S. Federal Reserve participated in providing trillions of dollars in secret repo loans to megabanks. At the end of March, investigative journalists, Pam and Russ Martens from Wall Street on Parade, uncovered $3.84 trillion…
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Led by Belgian financial services firm Euroclear, the latest French CBDC trial involved a system by tech giant IBM. The central bank of France continues actively exploring a central bank digital currency (CBDC), completing a significant trial of a blockchain-based CBDC in the country’s debt market. Over 500 institutions in France have participated in a…
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A Proof of Concept security token transfer involving BNP Paribas and Curv could lead to integrated crypto custody solutions. Securities services provider BNP Paribas has just completed a Proof of Concept with cloud based crypto wallet provider Curv, to demonstrate a highly secure way to transfer security tokens. The security token was transferred using Curv’s…
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The DAML smart contract language is getting more popular. BNP Paribas’ securities arm has partnered with Digital Asset to develop a number of real-time trade and settlement applications using DAML-based smart contracts, the firm announced on Sept. 15. The new DAML-driven apps will connect BNP Paribas Securities Services with major global stock exchanges like the Australian…
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