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Bahrain’s Electronic Network for Financial Transactions (Benefit) is designing and implementing a Know Your Customer (KYC) utility that incorporates blockchain technology, in partnership with Fenergo, a provider of digital Client Lifecycle Management (CLM) solutions, reports Henry Vilar of Fintech Futures (Finovate’s sister publication). The utility platform will support sectors including retail and corporate banking and Read more…
Just weeks after launching in the U.S., trading and investment platform eToro announced plans to purchase Copenhagen-based blockchain firm Firmo. The terms of the deal, which marks eToro’s first acquisition, were not disclosed. With today’s purchase, eToro aims to grow tokenized financial assets on its platform. To facilitate that growth, the Israel-based company is specifically interested Read more…
IBM has unveiled a global blockchain network, Blockchain World Wire, that will offer near real-time cross-border payment exchange and international settlement. Blockchain World Wire can transfer funds in 47 currencies to locations in 72 countries, and the company is calling it the first blockchain network of its kind to integrate payment messaging, clearing and Read more…
Crypto exchange Coinbase is in a buying mood again with the acquisition of Milan-based blockchain intelligence platform Neutrino, reports Antony Peyton of Fintech Futures (Finovate’s sister publication). Financial details were not disclosed. According to Coinbase, blockchain intelligence is “increasingly important” in the crypto ecosystem, and is “necessary to achieve our mission of bringing the open Read more…
Finovate has curated an additional summit day that will take place the day after FinovateFall on September 27. The exclusive summit day kicks off at 8am and will focus on two of the technologies that are driving fintech innovation forward in the 21st century: Artificial Intelligence and Blockchain Technology. Be sure to register if you’re interested Read more…
You’ve heard of smart contracts–but what about smart guarantees? That’s what London-based banking giant Standard Chartered is setting out to do: leverage the blockchain to alter the traditionally paper-intensive process of trade finance guarantees. The bank has partnered with the financing arm of Siemens and digital trade provider TradeIX to fully digitize trade finance, from the initiation Read more…
Digital identity management innovator identitii is innovating in another way this week. The company joins fellow Finovate alum Kyckr as the second blockchain company to launch an IPO on the Australian Stock Exchange. Kyckr, which demonstrated its corporate identity blockchain technology at our developers conference, FinDEVr Silicon Valley 2016, raised $5.2 million in its blockchain IPO Read more…
One month after launching Hydro, a blockchain-based security and identity management mobile app, development platform Hydrogen has introduced a new entity. The Financial Industry Decentralization Initiative (FINDI), unveiled this week, will “facilitate a more open, transparent, and decentralized global financial system” – all powered by public blockchains. The goal of the consortium is to Read more…
Supply chain payments company Tradeshift has always aimed to help businesses get paid faster. Today, it’s doubling down on that mission by partnering with MakerDAO to leverage the blockchain to speed up payments. MakerDAO is the creator of Dai, a decentralized stablecoin based on the Ethereum blockchain, as well as the Dai Credit System. Through the partnership, Read more…
Could blockchain technology revitalize mortgagetech? Blockchain and smart contract technology innovator Symbiont has teamed up with Ranieri Solutions to explore ways to use its smart contract platform to “systematically improve all aspects of the mortgage industry,” according to an announcement today. Ranieri Solutions is a financial services technology investment firm founded by securitized mortgage market Read more…
For all the buzz around blockchain technologies, few companies have seized the moment like Ripple. And this week, the enterprise blockchain solution provider announced a new partnership with FLEETCOR Technologies. The two firms will launch a pilot program to test the viability of Ripple’s digital asset XRP to improve the efficiency of international payments. Cambridge Read more…
Digital currency wallet Blockchain has appointed Marco Santori as its new president and chief legal officer. The role of President was formerly held by Blockchain co-founder Nicolas Cary, who has assumed the role of vice chairman. Santori comes to the U.K.-based company from Cooley LLP, where he worked as a partner, leading the law firm’s global financial Read more…