IBM to Create Fiat-Backed Stablecoins for 6 Banks with Stellar’s XLM

IBM to Create Fiat-Backed Stablecoins for 6 Banks with Stellar’s XLM

IBM is taking its banking clients a step closer to cryptocurrency with IBM’s Stellar-powered money wiring service on which six major international banks will launch their own fiat currency-backed stablecoins. According to Jesse Lund, Vice President of IBM Blockchain and Stellar co-founder Jed McCaleb, as many as 44 international banks are using the IBM’s payment network, IBM Blockchain World Wire, and many of them have signed the letters of intent to launch their own stablecoins…

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Top Banking Authority: Growth of Crypto Assets Could Pose a Threat to Banks

Top Banking Authority: Growth of Crypto Assets Could Pose a Threat to Banks

The Basel Committee on Banking Supervision (BCBS), the international banking supervisory authority, has issued a warning statement on March 13th citing that the robust growth of crypto assets such as Bitcoin, Ethereum, etc. can become a potential threat to the global financial stability and banks which currently have very limited direct exposure to the cryptos. The Committee has also provided a list of minimum requirements for banks which are in the process of acquiring crypto…

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IDC Report: Global Blockchain Spending to Touch New Highs of $2.9 Billion in 2019

IDC Report: Global Blockchain Spending to Touch New Highs of $2.9 Billion in 2019

According to a recent report titled “Worldwide Semiannual Blockchain Spending Guide” published by International Data Corporation (IDC), the global spending on blockchain solutions will reach a new mark of $2.9 billion in 2019, up by 88.7 percent from the previous year’s spending of $1.5 billion. Leading market intelligence and advisory firm IDC is also expecting the worldwide blockchain spending, for the period from 2018-2022, to grow at 5-year compound annual growth rate (CAGR) of 76%…

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Report: Conventional Banking Giants Deny Access to Crypto and Blockchain Firms

Report: Conventional Banking Giants Deny Access to Crypto and Blockchain Firms

Amid all sorts of regulatory pressure, firms in the blockchain and cryptocurrency industry are also still struggling to open bank accounts. Not only big banks such as HSBC or JPMorgan Chase deny regular banking operations from crypto and blockchain companies, but also the majority of small banks as well. It has been a decade now since the launch of Bitcoin and thereafter other altcoins, but it seems as if in many banks across the globe,…

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Will JPM Coin Prompt a Shift from Public Blockchain to Private Blockchain?

Will JPM Coin Prompt a Shift from Public Blockchain to Private Blockchain?

It is no news that the traditional financial market is being gradually disrupted by the advent of cryptocurrency; but the main point of interest in the crypto market right now as J.P. Morgan launched a its own stablecoin JPM Coin, is whether or not this new digital coin by an enormous tradtional financial institution will disrupt the existing financial markets and, perhaps more importantly, the stablecoin market. Despite the crypto wariness and skepticism of the…

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Analyst Lisa Ellis Says Crypto will Disrupt the Payment System in the Future

Analyst Lisa Ellis Says Crypto will Disrupt the Payment System in the Future

The use of cryptocurrency on a daily basis does not make any sense pragmatically as of today, at least not yet. One of the reasons why cryptocurrency has failed to kick off in recent time is the fact that the usage of these digital assets is not very straightforward. Additionally, they do incur an extra fee for each transaction that you make. Sometimes, these fees happen to be more than the actual transaction amount itself….

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Fintech Startup Nivaura Gets $20 Million Injection from London Stock Exchange and Banco Santander

Fintech Startup Nivaura Gets $20 Million Injection from London Stock Exchange and Banco Santander

The London Stock Exchange Group (LSEG) has invested an unknown amount in the acquisition of a minor equity stake in London-based Fintech startup called Nivaura; it led a $20 million dollars (15 million pounds) funding round, which was followed by the venture capital arm of Banco Santander, Santander InnoVentures. Nivaura is a blockchain startup that lets companies issue bonds and other financial instruments on blockchain. Launched in November 2017, Nivaura became the world’s first Fintech…

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JPMorgan CEO Jamie Dimon: JPM Coin Could See Consumer Use One Day

JPMorgan CEO Jamie Dimon: JPM Coin Could See Consumer Use One Day

A couple of weeks ago, the banking giant JPMorgan launched its own cryptocurrency called JPM Coin and became the first major US bank to do so. The move by the one of the largest financial institution in the world came as a surprise to many since not too long ago, the CEO of JPMorgan Chase, Jamie Dimon, has criticized cryptocurrencies and went as far as to call Bitcoin a fraud. The launch of JPM Coin…

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Ukraine Completes Pilot Project for a National Digital Currency ‘E-Hryvnia’

Ukraine Completes Pilot Project for a National Digital Currency ‘E-Hryvnia’

Progressive countries all over the globe are rushing to launch their own versions of cryptocurrencies to take advantage of the relatively young market. Cryptocurrencies we’ve seen so far have been from private companies, disconnected from any regional or national currencies. However, a new wave of cryptocurrencies is starting. These are the cryptocurrencies that are backed by government bodies and thus considered legitimate in their relative regions. Just this week Ukraine’s central bank has successfully completed…

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Mizuho Financial Group Rolls Out the ‘J-Coin Pay’ Stablecoin to Enter the Crypto Payment Race

Mizuho Financial Group Rolls Out the ‘J-Coin Pay’ Stablecoin to Enter the Crypto Payment Race

As the new kid in the block, there is always the question of what you have to make you stand out in a block crowded already. And that is the question on everyone’s lips as the Japan-based Mizuho Financial Group joins the many digital currency outlets in Japan. The company announced on Feb. 21 that it is set to release a Yen-pegged digital currency stablecoin that it has in the works for quite some time….

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