Luxembourg-registered financial firm Black Manta Capital Partners has received a license from the German Federal Financial Supervisory Authority (BaFin) for its Security Token Offering (STO) platform. A regulated STO platform in Germany Black Manta Capital Partners announced on Aug. 19 that its Berlin-based entity received a MiFID II license by BaFin for its regulated STO platform on Aug. 1 nine months after filing. Now, the company will be able to offer regulated brokerage services using blockchain technology. On its platform, the firm represents rights to an asset as tokens managed by on-chain contracts. This system reportedly allows for new access …

The World Bank announced on Aug. 16 that it raised an additional A$50 million (over $33 million) for its Kangaroo bond due August 2020, using a blockchain. The bank claims that this is the first bond which has been created, allocated, transferred and managed through its life cycle using distributed ledger technology (DLT). Major banks join World Bank’s Bond-i blockchain platform Per the report, the initiative expands the World Bank’s Bond-i blockchain platform combining three joint lead managers, Commonwealth Bank of Australia (CBA), RBC Capital Markets and TD Securities (TD). The initiative has seen the participation of new market participants, …

The holding company of cryptocurrency-friendly Silvergate Bank, Silvergate Capital Corporation, announced that the firm plans to offer cryptocurrency-collateralized loans. In an S1/A form filed with the United States Securities and Exchange Commission on Aug. 15 the bank notes: “We believe there may be attractive opportunities to provide digital currency borrowing facilities to deepen our high quality customer relationships and further enhance our interest income.” In the document, the firm states that it found significant demand for cryptocurrency-related borrowing. The service would consist of the client providing crypto assets or U.S. dollars as collateral in exchange for significantly greater credit. The …

South Korea’s oldest bank, Shinhan Bank, partnered with two other companies to develop a blockchain-based security solution. Korea’s Shinhan bank to enhance security with blockchain According to a report published on Aug. 14 by local news outlet The Korea Times, Shinhan Bank signed a memorandum of understanding with financial technology startup Ground X and blockchain developer Hexlant to develop a blockchain security system. Per the report, the deal will see the institution’s partners jointly develop a Private Key Management System for its banking services. Ground X is the blockchain unit of South Korean messaging giant Kakao, and is reportedly expected …

Digital asset lender DrawBridge Lending (DBL) announced that it received funding from cryptocurrency commercial bank Galaxy Digital. A fiat-crypto lending and investing service DrawBridge announced in a press release published on Aug. 8 that it received funding from Galaxy Digital, further strengthen DBL’s fiat-crypto lending and investing capabilities. Furthermore, the two firms reportedly plan to jointly develop a co-branded special-purpose loan funding vehicle to provide structured financing against institutionally held crypto assets. Michael Novogratz, CEO and founder of Galaxy Digital, commented on the development: “The institutionalization of digital assets is still relatively nascent despite increasing momentum and interest from a …

Frankfurt bank and financial services firm Commerzbank tested blockchain-based machine to machine payments with trucks produced by the firm behind the Mercedes-Benz auto brand, Daimler. Automated, human-free, payments According to a Commerzbank press release published on Aug. 8, the bank tested the exchange and settlement of payments between an electronic charging point and a Daimler truck system without any human intervention. To allow the transaction, the bank reportedly tokenized euros on the blockchain used in the pilot and provided the funds to the automaker to process the payments. Towards a more efficient supply chain The aim of the system is …

London-based bank and financial services firm Standard Chartered has completed its first cross-border blockchain letter of credit transaction in the oil industry with Thai state-owned oil giant PTT Group. On-chain letter of credit Standard Chartered announced that it has successfully executed a pilot letter of credit (LC) transaction for PTT Group, PTT International Trading Pte Ltd and IRPC Public Company Limited over the Voltron blockchain platform in a press release published on its website on Aug. 7. Per the release, oil companies are often reliant on letters of credit as a form of short-term trade finance because of the significant …

Israeli Bitcoin (BTC) investors are unable to pay their taxes as banks do not accept deposits obtained from cryptocurrencies. Israeli banks freeze up the minute they hear Bitcoin Israeli newspaper Haaretz reports on Aug. 6 that local crypto investors are unable to deposit the returns of their Bitcoin investments into bank accounts due to money laundering and terrorist financing concerns. Bitcoin is not recognized as a currency in Israel and earnings made by trading them are subject to a 25% capital gains tax for individuals and a 47% corporate tax rate for corporations. Those two factors reportedly result in the …

China’s central bank, the People’s Bank of China (PBoC) announced that it accelerated the development of its cryptocurrency. In an Aug. 2 statement, PBoC summarized the proceedings of a video conference, in which the bank conveyed the Party Central Committee and the State Council priorities on economic and financial initiatives ranging from monetary policy to support for small businesses. PBoC suggested that it should accelerate the research and development of its digital currency. Furthermore, the statement also indicates that much attention should be also given to other domestic and foreign cryptocurrencies. Additionally, the bank said that it should strengthen financial …

South Korea’s oldest bank, Shinhan Bank, is developing a distributed ledger technology (DLT)-enabled stock lending platform, local media Econonews reports on Aug. 1. Blockchain-based stock lending Per the report, Shinhan Financial Investment signed an agreement with financial services company Directional to develop a blockchain-based stock lending service on May 28. Personal stock lending is part of a broader development of innovative financial services that are currently being pursued by the company. Not the first Shinhan Blockchain-based Service At the end of May, Shinhan Bank also launched a blockchain-enabled lending platform to boost cost and time efficiencies in the lending process, …

The Bank of China, one of the four biggest state-owned commercial banks in the country, released on its website an infographic illustrating what is Bitcoin (BTC), how it works and why it’s valuable on July 26. A brief story: from Bitcoin to Libra The infographic illustrates the story of Bitcoin, starting with the publication of its whitepaper in 2008, the mining of the first 50 BTC in 2009, 10,000 BTC having been spent for pizza in 2010, and other major milestones for the system, ending with the announcement of Facebook’s Libra. “Yesterday, the Bank of China posted up an article …

Palestinian Prime Minister Mohammad Shtayyeh reiterated that his government is considering using cryptocurrency as an alternative to the Israeli shekel fiat currency, English-language local media Al-Monitor reports on July 22. Shtayyeh said at the opening of the Palestine Center for Computer Emergency Response in Ramallah on July 9 that he’ll consider every possibility to enhance the freedom of Palestinian economy that Israel won't be able to block. During his first appearance on Palestine TV, after first taking office in April, he reportedly said: “The Palestinian economy has about 25 billion shekels circulating in the local economy, but we're not forced …