Four top tier financial institutions are collaborating on the use of distributed ledger technology to revive the market for mortgage-backed securities, the reviled financial instruments which precipitated the global banking crisis in 2008.
Draper Esprit has led a whopping £56 million Series B investment round in Paris-based cryptocurrency wallet and blockchain security outfit Ledger.
Standard Chartered has created a new business unit, SC Ventures, to invest in promising fintech startups and accelerate innovation initiatives across the group.
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.
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.
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.
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.
The craze for cryptocurrency mining is putting increasing strain on electrical grids, raising concerns about capacity around the world and the prospect of a migration of coin mining operators to new jurisdictions.
Shares in MoneyGram gained on Thursday on news that the old-school money transfer player has teamed up with Ripple to pilot the blockchain startup's XRP digital currency in its payments flows.
As new technologies such as AI and DLT transform the capital markets landscape, the World Federation of Exchanges (WFE) has called on regulators to hold new fintech entrants to the same standards as established players.
© Finextra Research 2018