A startup which bills itself as “blockchain’s financial district” has launched its network — and says its debut heralds “the beginning of true financial freedom.” WORBLI enables businesses and individuals to enjoy “seamless access to financial services,” and paves the way for developers to build their own applications on its network. Its ecosystem uses EOSIO software, with the startup’s team saying this unlocks a series of benefits. Firstly, users benefit from fast and feeless transactions, allowing applications on the network to operate without bottlenecks and delays — and they also have the ability to amend nefarious transactions and recover accounts, …

American trading-communications firm IPC Systems has partnered with enterprise blockchain software consortium R3, according to a press release shared with Cointelegraph Dec. 3. IPC is a trading technology service company known for producing trading turrets, which are communications systems used by financial traders on their trading desks. Through the Partnership, IPC plans to support the consortium’s Corda blockchain networks on its Connexus platform. Connexus Cloud is a financial markets cloud-based platform for data, voice, and business communications and compliance. The product includes financial industry firms, liquidity revenues, energy firms, and market data and clearing companies. The Corda blockchain network uses …

The Swiss Financial Market Supervisory Authority (FINMA) has released guidelines for their new “FinTech” license, according to a FINMA official press release released Dec. 3 The Swiss financial regulator revealed that license pursuants, which can be blockchain-related and crypto-related firms, will be able to apply for the fintech license with the state authority starting from 2019. The license, which FINMA notes has “relaxed requirements” under the country’s banking ordinance, allows fintech companies to accept public deposits of up to 100 million Swiss francs (CHF), or around $100 million. Within the terms of the license, companies are neither allowed to invest …

On Nov. 16, Switzerland’s primary stock exchange, SIX Swiss Exchange, announced that it will list the world’s first multi-crypto-based exchange-traded product (ETP). Exchange-traded products (ETP) are derivatively priced securities that are traded on a national securities exchange. Their pricing derives its value from other investment instruments, most commonly found in the form of commodities, stocks and indexes. The first global multi-crypto ETP has the backing of Swiss startup Amun AG and will be listed under the ticker symbol HOLD. According to the announcement, the ETP will track five of the sector's biggest cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin …

26 French companies and five major banks have completed a Know Your Customer (KYC) test based on blockchain, according to a press release by the entrant firm RCI Bank and Services released Dec. 3. RCI Bank and Services, a French automotive financing and insurance firm unveiled details of a customer knowledge-focused blockchain solution trialed in partnership with blockchain consortium R3. According to the press release, the Proof-of-Concept (PoC) test has been conducted in cooperation with the Association Française des Trésoriers d'Entreprise (AFTE), a local network of treasury and finance professionals. As revealed by a participant of the test, RCI Bank …

On Nov. 6, the post-trade market infrastructure behemoth, the Depository Trust & Clearing Corporation (DTCC), announced that it is entering the test phase of its attempt to replatform its Trade Information Warehouse (TIW) via the use of distributed ledger technology (DLT). DTCC enters active trial phase for TIW replatforming The move to a blockchain platform comes at a time when many financial institutions are trialling the technology. In early November, Morgan Stanley released a report updating its clients about Bitcoin and blockchain, documenting several industry giants who have either already implemented blockchain or are in the process of trialling it. …

Blockchain will “probably take a little longer” to develop than the internet, because it is “much more complicated,” ConsenSys creator Joseph Lubin told German media outlet t3n in an interview, Cointelegraph auf Deutsch reported Nov. 9. Lubin, who is also the co-founder of Ethereum (ETH), told reporters that blockchain technology is developing in a similar way to the web, citing its exponential growth with “hundreds of projects that are already practical for humans” to date. Based on blockchain’s use case for decentralized cryptocurrencies, the digital entrepreneur also suggested that distributed ledger technology (DLT) will be able to “permeate society more …

A startup is aiming to attract social networks, gaming companies and mobile payment providers through a “full-service platform” that eliminates the headaches associated with using blockchain technology to reach customers. Aerum says its offering is geared towards entrepreneurs and businesses that create DApps (decentralized apps) based on the Ethereum protocol. According to the company, its infrastructure tackles the high transaction costs, lack of scalability and long processing times which have made blockchain an impractical choice for many firms – hampering its progress to become a mainstream force in the global economy. Through its platform, Aerum claims it can offer transactions …

Major South Korean cryptocurrency exchange Bithumb has reportedly signed a deal with an American fintech firm in an effort to open a securities token exchange in the U.S., South Korean Yonhap News agency reported Nov. 1. Citing individuals familiar with the matter, Yonhap reports that Bithumb signed an agreement with American crowdfunding platform SeriesOne. A Bithumb official purportedly told the news agency: "SeriesOne actively sought to strike a deal with Bithumb after assessing it as the most suitable partner. Bithumb will ramp up efforts to develop into a global financial firm as the blockchain-based asset tokenization is expected to spread …

Multinational holding conglomerate Berkshire Hathaway – which counts outspoken crypto critic Warren Buffett as its CEO and chairman – has invested around $600 million in two fintech payment firms focused on emerging markets, the Wall Street Journal (WSJ) reported Oct. 29. Both investments are said to have been spearheaded by one of Berkshire’s two portfolio managers, Todd Combs. In August, Berkshire is reported to have bought a roughly $300 million stake in the parent company of Paytm, India’s largest mobile-payments service. The second investment was made just this past week, through the purchase of shares in an initial public offering …

A new commissioner at U.S. regulator the Commodity Futures Trading Commission (CFTC) repeated called for handling fintech – including blockchain and cryptocurrency – with an “open mind” in a speech Thursday, Oct. 25. Speaking at the 2018 International Swaps and Derivatives Association (ISDA) Annual Japan Conference in Tokyo, Rostin Behnam, who has now held the post for a year, revealed he had spent much of that time focusing on issues related to disruptive fintech. “I am surprised by the amount of time I spent examining issues related to bitcoin, crypto assets, distributed ledger technology (DLT), artificial intelligence, and cloud-based programming,” …

The Reserve Bank of Australia (RBA) assistant governor Michelle Bullock said that the bank has not been convinced of the need to create a digital Australian dollar, local business and finance news outlet The Australian Financial Review reported Oct. 24. Speaking at the Sibos 2018 banking and financial conference in Sydney, Bullock reportedly said that she is “interested to consider what frictions these technologies are designed to address [but] in many cases I just don't see what the point is." Among “touted” benefits digital currency could provide to central banks, Bullock cited the possibility to technically leapfrog the monetary policy …