finance

Deutsche Boerse, Swisscom Settle Securities with Corda and Hyperledger

German securities marketplace Deutsche Boerse and Swiss state-run telecom Swisscom have settled securities transactions using different blockchain protocols. In a joint proof-of-concept (PoC) involving a number of banks, the participants exchanged money in the form of cash tokens against tokenized shares, Deutsche Börse officially announced on Nov. 19. Based on blockchain technology, the joint PoC …

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Swiss Crypto Bank SEBA Launches With Range of Services

<header class=”article__header”> </header> <strong>SEBA Bank is now fully operational with a range of services to bridge the gap between the crypto world and traditional banking. Licensed in Switzerland, the bank’s crypto services include asset management, trading, custody, and financing. Its wallet app, e-banking, and card enable customers to convert between cryptocurrencies and traditional investments such …

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Holders of the Digital Yuan Will Not Be Paid Interest

</header> <strong>China has been sending mixed signals about its preparedness to issue a national crypto. Despite the new blockchain push, there is still no timeframe for the anticipated launch of the digital yuan and few details have been revealed so far. However, a senior official from China’s central bank pulled the curtain back slightly this …

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Crypto-Friendly Silvergate Bank IPO Debuts on NYSE

<header class=”article__header”> </header> <strong>The U.S. Securities and Exchange Commission (SEC) has declared the IPO of pro-crypto Silvergate Bank effective. Its shares started trading on the New York Stock Exchange on Thursday. The crypto-friendly bank works with 756 customers in the crypto space, including Coinbase, Gemini, Circle, Bitstamp, Kraken, and Bittrex. The bank has attributed significant …

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New Hire to Head Digital Currency Research at the US Fed

</header> <strong>The United States Federal Reserve is looking to employ a Manager, Retail Payments, part of whose responsibilities will be to oversee the research of digital currencies and distributed ledgers. The job ad has been published amid pressure from Capitol Hill to explore the possibilities of issuing a digital dollar. </strong> Also read: Why Central …

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CME Group Publishes Bitcoin Options Specifications

</header> <strong>In mid-September, the foreign exchange company CME Group announced the launch of options on its bitcoin futures contracts in Q1 2020, pending regulatory review. CME Group executive Tim McCourt said there was “increasing client demand” for the firm’s bitcoin derivatives and now the company has published specifications for the options products.</strong> Also Read: French …

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SBI’s Crypto-Focused Venture Capital Arm Sees Major Turnaround On Year

SBI Securities’ trading revenue surged 19.2% in 2019, largely due to the inclusion of the company’s crypto investment wing, which turned a $7.1 million loss into a $30 million profit over the year. Japanese financial services giant SBI Holdings released its new financial report on Oct. 30. The report analyzed results for the six-month period …

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Indian Crypto Trading Volumes Accelerate on Positive Sentiments

<header class=”article__header”> </header> <strong>Cryptocurrency trading volumes in India have accelerated despite regulatory uncertainty and banking restrictions imposed by the Reserve Bank of India (RBI). Global trading platforms and service providers have also been expanding their operations to serve Indian users.</strong> Also read: Mistakes Crypto Owners and Traders Should Avoid Strong Trading Volume Growth Banking services …

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McKinsey: Majority of Banks May Not Be Economically Viable

<header class=”article__header”> </header> <strong>Management consulting firm McKinsey & Company has published a global banking review and found that a majority of banks worldwide may not be economically viable. More than half of them still do not generate their cost of equity 10 years after the crisis and may not survive an economic downturn.</strong> Also read: …

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Number of Americans Owning Crypto Doubled in 2019: Finder

The number of Americans who own cryptocurrencies has almost doubled in 2019, from 7.95% in 2018 to 14.4%, according to a new survey by Finder. 36.5 million Americans own crypto Finder, an Australia-based financial services firm, has surveyed 2,068 Americans to figure out that 36.5 million people in the United States own some form of …

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