Trade Finance Survey 2019: Asia finds a block in blockchain
After much talk and little action, the use of blockchain in trade finance is picking up, and Asia-Pacific is at the heart of that change – but despite progress, the many different consortia need to agree on some common ground to get things moving.
CLS payment netting service goes live with Goldman Sachs and Morgan Stanley
CLSNet – a new payments netting service for FX trades – aims to reduce costs and increase liquidity for market participants.
FX: Blockchain seen as the solution to enhanced post-trade efficiency
Under-investment in post-trade infrastructure is driving interest in distributed ledger technology as a means of reducing back-office costs.
Can blockchain fight trade finance commodities fraud?
Banks and traders tout efficiency and the trust benefits of a new fintech platform, but key absentees mitigate the hoped-for 'network effect'.
Blockchain-based platform for letters of credit goes live
Eight banks have gone live with the Voltron initiative, an open platform for documentary trade.
Blockchain? What blockchain?
Why blockchain is not the only answer for transaction banking.
Two blockchain start-ups offer very different bets on the future of bitcoin mining
Argo offers state of-the-art crypto mining as a service to the little guy but COTI’s trustchain may do away with miners altogether.
Banks rush to join JPMorgan’s blockchain-based interbank information network
With 75 banks signed up in late September, IIN is already approaching 100 banks convinced that blockchain is the best, safest and quickest way to resolve blocked cross-border payments.
New technologies transform cross-border payments space
The world of cross-border payments in undergoing a digital transformation, which is set to eradicate long delays, friction and high transaction costs.
The Philippines: UnionBank takes a digital journey into the unknown
For decades, Union Bank of the Philippines has been a worthy medium-sized lender, but little more. Now, it has shaken off its shackles and is investing heavily in technology, with a view to supplanting DBS as the best digital bank in Asia. Can it succeed?
Ping An ups the digital stakes in China and beyond
The insurance firm has armed itself to the teeth with fintech, but can it really take on internet champions such as Alibaba and Tencent?
Regulated exchanges for crypto security tokens could transform equity capital markets
New efforts to execute equity transactions on blockchain are emerging, for now concentrated in private equity, as disruptors seek to build investor and regulatory confidence in security tokens.
World Bank launches first bond on blockchain
With a modest-sized two-year Aussie dollar transaction, the World Bank may have ushered in a new era of speed, efficiency and transparency in debt capital markets, with deals announced, order books built and bonds priced and allocated on blockchain.
Banks investing more in blockchain than tech companies
Banks were once sceptical about blockchain technology, but now – having recognised it as an existential threat to their businesses – they are leading the way in its development and implementation.
Trade finance: we.trade banks to support multiple platforms
Those behind blockchain-based trade finance platform we.trade, which completed its first round of transactions this month, have acknowledged that banks will have to support multiple platforms to offer a rounded digital trade service.
Dunedin picks up GPS and looks to Asia
Private equity house takes stake in UK payments processor.
Polish banks to put millions of confidential records on blockchain
Distributed ledger technology could be answer to GDPR for banks worried their legacy systems will struggle to cope with customer rights over their records.
Trade finance on blockchain moves to full commercial production
A soybean trade between two arms of Cargill using letters of credit from HSBC and ING shows the R3 Corda platform is finally set to scale up.
Energy market might beat banking onto blockchain
Banks are proving so slow to collaborate on blockchain protocols that could reduce costs in financial markets that it almost looks as if they wish to profit from persistent inefficiency.
KYC reform catches up with tech evolution
IHS Markit has recently announced it is to collaborate with Cambridge Blockchain to look into ways to take the information on its database onto the distributed ledger (DL).
Tend token sale points to a regulated future for ICOs
The luxury-asset investment platform is to raise funds by selling tokens that mirror participation certificates under Swiss law, with full KYC and AML checks on buyers.
Primary debt capital markets have been remarkably slow to embrace technology. Vested interests are at play: lucrative underwriting fees will not be wrested from the banks without a fight. But automation is coming, partly driven by regulators looking into dysfunctional allocation.China's Leaders in Fintech 2017
Wealth management blockchain platform promises new standard for ICOs
Trade finance: Clients prove slow to embrace digital
Middle East transaction banking debate: Providers push new services as region’s economies bounce back
A bridge to blockchain scepticism
I realize my mistake within minutes of sharing with a colleague the notice from Dentacoin of the first blockchain solution for the global dental industry, including its own cryptocurrency token to pay for dental care products on a new trading platform.
Banking jumps to post blockchain
Tearing out the old plumbing of the global payments system and switching to distributed ledger is an enormous and potentially risky transition that could take a decade or more, but there may be an easier way to capture efficiency.
Optimism dominates in Washington despite geopolitical worries
Corporate treasurers see the benefits of blockchain
Trade finance moves toward digitization
Trade finance has long been in need of a move way from paper documentation. With a number of digital solutions based around distributed ledger technology (DLT) in development the foundations look to be in place.
Blockchain set to transform loan trading and collateral markets
After breakthrough proofs of concept in the spring, two large projects are now quietly moving forward into pilot production that could see blockchain technology transform wholesale markets at the core of the global financial system.
For years, much of the hype in payments has been around mobile payments and blockchain technology. But the innovation that has done the most to change British shopping habits has been contactless cards, which launched in 2007 but have really come of age in recent years.
FX: Cobalt fends off blockchain competition
Despite the progress of other projects applying blockchain technology to FX, Cobalt’s CEO remains confident that his post-trade processing network can reach critical mass.
Ripple reaps benefits of payments focus
Ripple has come to be the dominant name for payments in the distributed ledger (DL) space, thanks largely to the decision to consolidate its efforts.
Pilot projects to transact on distributed ledgers are starting to deliver lower costs, higher speeds and improved efficiency to bank customers. Blockchain may be the biggest shake up in market share the banking business has ever seen.
E-commerce treasurers look for alternative payment options
E-commerce needs a strategic rethink in how payments are collected to increase efficiency and reduce clearing times. PSD2 is one possible resolution, with social media also starting to play a role.
Blockchain: Collaborate to innovate
Robert Palatnick of the DTCC says that with so much activity occurring across the industry, it is critical that all parties place standards at the heart of their DLT initiatives.
Regulation and innovation thrive together in the FCA’s sandbox
The Financial Conduct Authority’s (FCA) regulatory sandbox has been a hit with market participants and regulators alike, giving firms whose services were never anticipated by existing rules the chance to test out new features without fear of fines or enforcement action. As the regulator sifts through applications for the second phase of the programme, some of the FX and blockchain-related firms from the first cohort outline here the value of the regulatory insight gained from their participation.
Some of Europe’s biggest banks have joined behind KBC’s blockchain prototype to help SMEs increase trade across the continent.
Trade finance modernization turns towards blockchain
Treasurers are looking for digitized trade finance solutions; blockchain may be the answer.
DTCC puts blockchain at heart of $11 trillion credit derivatives market
Taking post-trade processing onto distributed ledger could be the first big step, with clearing and settlement and even payments to follow.
Federal Reserve raises concerns over blockchain
The Fed’s white paper on blockchain shows the extent of concerns about instability in the $12.6 trillion-a-day US payments system as it adapts to new technology. It also puts tech providers on warning of bank-like regulation.
BitLicense not template for UK, say experts
While accepting that regulation can help increase consumer and business confidence in cryptocurrencies, providers and industry analysts agree that the BitLicense model is not the way forward for the UK.
R3 releases Corda as blockchain strains start to show
Fintech creeps up on the capital markets
Fintech: Blockchain landmarks point to transformation of trade finance
First international test; regs and compliance must catch up.
Blockchain allows for invoice securitization
As Applied Blockchain and Tallysticks progress with their invoices-on-blockchain project, the prospect of a new form of short-term capital markets funding for companies emerges.
Blockchain could revive gold’s role as a payments currency
The days of using gold for everyday transactions have long since passed, but could the blockchain change that?
The mysterious potential of the blockchain
Sponsored – September, 2016
While banks are still unsure of how the blockchain will affect their businesses, there is a widely held feeling that it has transformational potential. But it is still early days for the technology, and a lot more work must be done developing the blockchain before it will be clear how it can improve the banking industry.
Cobalt DL tests solution for blockchainization of FX trade settlement
Passengers have Uber, tourists have Airbnb, now Cobalt DL is beta testing the solution that aims to bring the benefits of the shared economy to FX trade settlement.
Banks takeover the blockchain
Everything you thought you knew about blockchain is wrong. Rather than wait for the blockchain to re-engineer banking, the banks are going to re-engineer the blockchain. It will not be public, it will be private. And across the shared ledger there will not be that much sharing. In an atmosphere somewhere between excitement and paranoia, banks are trying to turn an existential threat into a competitive advantage.
Banks’ experimentation with blockchain, or distributed ledger technology, is gathering pace in a fevered atmosphere.
Blockchain disrupts transactional accounting
Treasurers have much to gain from the integration of decentralized ledger technology into traditional accounting environments.
Banks begin blockchain payment integration
Banks are taking tentative steps to integrating blockchain technology, but so far they have focused on following established payment processes.
The Euromoney Blockchain Forum 2016: The next step for global banking
Fintech 2016: Applying the blockchain
Starting by transforming the workflows around invoices, Applied Blockchain is developing practical uses for shared ledger technology on private networks.
Fintech 2016: The fintech revolution gathers momentum
After a record year for fund raising, large fintech companies are now emerging in marketplace lending and payments, with many more newcomers deploying venture capital money raised in $25 million to $50 million chunks to transform capital markets and traditional banking mainstays such as mortgage lending. The fintech start-ups are building revolutionary applications for blockchain, attacking every specialist niche in the financial world and keeping the image of fintech clean with business ventures aimed at inclusion.
Blockchain moves from hullabaloo to hard graft
In the second half of 2015 hype around the potential for shared ledger technology to transform banking rose to a peak. Now comes the hard work as banks and fintech companies seek to put test cases into actual use. As the first practical applications begin to emerge, Euromoney surveys the banking market to ask what’s next for the blockchain.
Year in data 2015: Blockchain
Interoperability rather than exclusivity appears to be the likely path to success for corporate blockchain services.
Banks have suddenly cottoned on to the power of the blockchain technology beneath Bitcoin. Inside their own treasuries and innovation labs, and increasingly in collaboration, banks are testing uses for rebranded distributed ledgers to replace their costly, proprietary systems.
Enthusiasts see banks creating a new fabric for payments transfer and financial markets, an internet of money. Doubters sense it’s all hype. Big challenges remain, but markets from private equity and syndicated loans to corporate bonds and derivatives may go on private blockchains within months.
Regulation: The benefits of blockchain
Banks are suddenly obsessed with potential of the distributed ledger in financial markets, but regulators must make sure it is used in ways that remove collusion and wrongdoing.
Bitcoin: Jury is still out on derivatives
Bitcoin is riding high after a recent European Court of Justice ruling that users in Europe are not liable to pay value-added tax when trading the cryptocurrency. But regulators worldwide are divided on whether it is a commodity or a currency and are still probing the advent of bitcoin derivatives as exchanges flourish to satisfy traders' demand for a wider range of products.
Challenging times: Real-time payment systems
The number of countries with real-time payment systems continues to rise, raising the importance of addressing issues such as fraud detection and prevention, and collaboration.
Exit Bitcoin, enter block-chain technology
Negative publicity around cryptocurrencies such as Bitcoin has deflected attention from the potential of the underlying technology to facilitate real-time – and therefore much cheaper – international payments.
Bitcoin market starts to mature
Interest and use of cryptocurrency bitcoin has undergone a meteoric rise in the past year, but it is now moving away from speculative investments into the real world of cross-border business transactions.
The CureCoin Forum has teamed up with Stanford University to launch a new ethical cryptocurrency that aims to find cures for common, life-threatening illnesses, such as cancer and Alzheimer’s, by bringing together science and the craze for cryptocurrencies.