Banking cooperative Swift has signed an MoU with seven central securities depositaries (CSDs) to explore how distributed ledger technology (DLT) can be used to improve post-trade processes such as corporate actions, proxy voting and trade processing.
Bank of America has filed for or received more blockchain-related patents in the US than any other firm, beating out Mastercard and IBM for the top spot, according to research from law firm EnvisionIP.
Blackhawk Network Holdings, a US fintech outfit specialising in prepaid gift cards, has agreed to be acquired by PE firm Silver Lake and hedge fund P2 Capital Partners in an all-cash deal worth around $3.5 billion.
IBM and transport and logistics outfit AP Moller-Maersk are setting up a joint venture that will build a blockchain-based cross-border supply chain programme to manage and track the paper trail of tens of millions of shipping containers across the world.
One of China's senior financial regulators has stated that the government will only support fintechs that serve the real economy, casting further doubt on the future of virtual currencies and related technologies within China.
Having racked up nearly two million users in Austria and the Czech Republic, Erste Group is rolling out its PSD2-ready digital banking platform, George, in Slovakia.
Features and analysis
A London court has heard testimony from a fired Barclays FX trader about his use of the bank's FX algorithmic trading system in his bid to win his job back, reports Bloomberg.
The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers.
The largest commercial bank in Russia, Alfa Bank, is developing a new digital cash service where all transactions will be transmitted and cleared via the blockchain.
As it books a $3.25 billion fourth quarter pre-tax charge related to the misselling scandal, Wells Fargo says it plans to make savings by closing around 900 branches by 2020.