The Bank of England and the Bank for International Settlements (BIS) Innovation Hub London Center have tested a distributed ledger technology-powered settlements system between the institutions. The insights of the project will be used by the Bank of England in its real-time gross settlement (RTGS) system. On April 19, BIS published a report about the joint pilot project with the Bank of England called Project Meridian. According to the 44-page document, the banks have successfully purchased houses in Wales and England through the synchronization network using distributed ledger technology (DLT).…
Tag: Bank
Israel’s central bank says CBDC could be issued if stablecoin use increases
The Bank of Israel says it’s preparing an action plan for the potential issuance of a central bank digital currency (CBDC),though a formal decision has yet to be made. On April 17, the Bank of Israel Steering Committee on the Potential Issuance of a Digital Shekel outlined possible scenarios for the development and deployment of a CBDC, a digital shekel called “SHAKED.” It provided several scenarios that could lead to the issuance of a digital shekel, among them was increased stablecoin activity. Increased adoption of stablecoins may “impair the payment…
Ripple Had ‘Some Exposure’ to Silicon Valley Bank, Says CEO
Ripple, currently engaged in a lawsuit with the Securities and Exchange Commission over the status of the cryptocurrency XRP, stored some of its cash reserves at the now-failed tech lender, Garlinghouse said. He declined to quantify the amount stuck in limbo. Author: Danny Nelson Source link
Crypto Bank Silvergate Announces ‘Voluntary Liquidation’
The bank took out approximately $4.3 billion in loans from the Federal Home Loan Bank of San Francisco, a federal banking entity that provides this type of loan for banks. Still, the fact Silvergate’s situation warranted these loans should have sparked concern from the FDIC months ago, a banking industry veteran told CoinDesk. Author: Nikhilesh De Source link
National Australia Bank Becomes Second Australian Bank to Build Stablecoin: Report
The purpose of AUDN would be to allow its customers to settle transactions on blockchain technology in real-time using Australian dollars, NAB said. AUDN could also be used for several other purposes including “carbon credit trading, overseas money transfers and repurchase agreements,” NAB’s Chief Innovation officer Howard Silby told AFR. Author: Amitoj Singh Source link
Aussie ‘Big 4’ bank mints stablecoin for carbon trading and remittances
National Australia Bank (NAB) is set to become the second “Big 4” Australian bank to launch an Australian dollar-pegged stablecoin on the Ethereum network. Set to launch sometime in mid-2023, the AUDN stablecoin is aimed at streamlining cross-border remittances and carbon credit trading, according to a Jan. 18 report from the Australian Financial Review (AFR). NAB’s chief innovation officer Howard Silby said the decision to mint the AUDN stablecoin on Ethereum — which is backed 1:1 by the Australian dollar (AUD) — was based on their belief that blockchain infrastructure…
Bank of England governor questions need for digital pound
Andrew Bailey, the Bank of England (BoE) governor, expressed skepticism on the need for a digital pound shortly after finance ministers from eurozone countries backed further work on a digital euro. The BoE governor recently questioned the need for a wholesale central bank digital currency (CBDC), citing that there already is a “wholesale central bank money settlement system with a major upgrade.” In addition, Bailey also expressed that there are no plans to abolish cash regarding retail use. The BoE governor does not believe that retail payments need to change…
French Central Bank Head Wants Crypto Licensing Ahead of MiCA Standards: Bloomberg
The current turmoil in the crypto markets shows the need for such requirements as soon as possible, the banking chief said. Author: Nelson Wang Source link
Blockchain.com gets regulatory nod from Singapore’s central bank
Blockchain.com becomes the second crypto exchange in two days to receive preliminary approval to provide crypto services within the growing crypto hub. Author: Luke Huigsloot Source link
Las criptomonedas continúan actuando como activos de riesgo, según el Bank of America
La semana pasada, estas entradas alcanzaron US$490 millones, 58% más que la semana anterior, según el informe, ya que “se adoptan casos de uso reales del mundo, como pagos/órdenes de pago, y los proveedores de datos del mundo real, como redes descentralizadas, aumentan la funcionalidad”. Author: Will Canny Source link