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JP Morgan Creates First US Bank-backed Crypto

CNBC reports that J.P. Morgan Chase has created the first cryptocurrency from a major US bank. Dubbed “JPM Coin” for now, it will be used as a settlement token for transactions between its wholesale payments clients. The token operates similarly to a stablecoin, with each JPM Coin redeemable at $1 USD. Anything that currently exists […]

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Business
Technology

ING Bank Signs 5-Year Blockchain Unlimited License Deal with R3

R3 published a press release today stating that ING Bank and R3 had signed an agreement to deploy R3’s enterprise blockchain technology, Corda. The licensing deal is slated to be for 5 years, and comes with unlimited license seats. The licenses enable ING Bank to deploy and use CorDapps, applications built with the Corda Enterprise […]

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Business
Finance
Trading

HSBC settled $250B of Forex Trades with Blockchain in 2018

An article by Reuters reports that HSBC used blockchain technology to settle $250 billion USD worth of forex trades in 2018. Last year, HSBC made over 150,000 payments and settled over 3 million forex trades using its enterprise blockchain. HSBC states that blockchains are helping them remove external dependencies, reduce latency and improve processes. In […]

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