US non-profit group Accion International and VC Quona Capital have raised $141 million from an array of institutional investors to support fintech startups that improve the quality and availability of financial services for the underserved.
IBM and transport and logistics outfit Maersk have unveiled 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.
Deutsche Bourse's new dedicated fintech venture fund, DB1, is hoping to make up to five investments this year, focusing on startups that use technologies such as blockchain and machine learning to rebuild the rails on which financial markets are built.
Canada's Scotiabank has spent the last few months testing a distributed ledger platform from tech firm AlphaPoint.
Distributed ledger technology has huge potential but has not yet reached the stage where it can fully replace current centralised systems, says a senior Bank of Japan official, who also warns FS firms against leaving the development and understanding of the tech to outside vendors.
The Stock Exchange of Thailand (SET) is planning to launch a blockchain-based marketplace for startups later this year.
Former UBS and Sap CIO Oliver Bussmann is leading a Government-backed initiative to position Switzerland as a global hub for blockchain and cryptographic development with the support of multiple blue chip partners, including UBS, Thomson Thomson Reuters, PwC, Consensys and Luxoft.
Reflecting the growing trend for banks to partner with young technology companies, Spain's Banco Sabadell is highlighting its activity in the entrepreneurial ecosystem over the past three years, supplying funding for 2300 growth companies and investing EUR96 million in startups.
Following a successful proof-of-concept, the Depository Trust & Clearing Corporation (DTCC) is pushing ahead with plans for a distributed ledger-based system for the clearing and settlement of US repurchase agreements (repos).
Japan's Mizuho says it has successfully completed trials that used distributed ledger technology for cross-border document sharing and a custom digital currency.
© Finextra Research 2017