United Kingdom cryptocurrency custodian Copper announced support for United States dollar transfers through Signature Bank’s Signet blockchain payment platform. According to an announcement on July 20, the integration of Signature Bank’s Signet will allow Copper’s customers to instantly pay and settle transactions in U.S. dollars and other fiat currencies. The integration will “vastly reduce the time and other issues that asset managers face in transferring traditional currencies” between bank accounts and trading environments. Crypto exchanges Bitstamp, Huobi, Kraken, OKCoin and LMAX are already integrated with both Signet and Copper. The collaboration is part of a broader trend Copper CEO Dmitry …
China Everbright Bank (CEB), a major commercial bank in China and one of the world’s largest public companies, is debuting a blockchain-based supply chain finance solution by Ant Financial. Ant Financial, the financial arm of Chinese e-commerce giant, Alibaba, has partnered with CEB to collaboratively implement Duo Chain — a network services platform designed to handle supply chain-related financial transactions. Ant Financial started working on the Duo Chain in 2019 CEB and Ant Financial initially formed their partnership during the second half of 2019. CEB is the first Chinese bank to deploy Ant Financial’s Duo Chain, as reported by local …
German banking and financial services company Commerzbank and technology companies Continental and Siemens have jointly conducted a money market security transaction pilot using blockchain technology. Cointelegraph auf Deutsch reported on the development on Feb. 21. Money market securities are short-terms assets that serve for financing companies and usually have a maturity of one year or less. Usually, the processing of a payment takes two days due to a clearing process. The aforementioned parties “for the first time” conducted a blockchain-based money market security transaction worth 100,000 euro ($113,340) within a pilot project in January, where Continental acted as the issuer …
Singapore-based cryptocurrency exchange Huobi has officially launched its first branch in Russia on Thursday, Dec. 6, according to a press release shared with Cointelegraph today. The Moscow-based exchange, dubbed Huobi Russia, is established in partnership with the state-owned Russian Development Bank’s (VEB) Digital Transformation Center and supported by Huobi’s regional exchange partnership program, Huobi Cloud. The Center of Digital Transformation was created by VEB to promote blockchain and other crypto-related technologies, as its website states. Back in September of this year, Huobi first joined Russia’s VEB Innovation Fund and became a resident of the Digital Transformation Center to share experience …
Banking groups BBVA and Banco Santander have joined the E.U. International Association for Trusted Blockchain Applications (IATBA), Spanish economic newspaper Expansion writes Nov. 20. The representatives of two Spanish banking groups were invited to an E.U. blockchain roundtable held in Brussels by Mariya Gabriel, the commissioner for Digital Economy and Society, and Roberto Viola, director of the E.U. Department of Communications Networks, Content and Technology. According to a BBVA press release, during the meeting officials revealed that the IATBA will be launched by the European Commission in the first financial quarter of 2019. The main aim of the association is …