Dutch Bank ABN AMRO Launches Blockchain Inventory Tracking Platform ‘Forcefield’

Dutch bank ABN AMRO announced that it is launching a blockchain inventory tracking platform dubbed Forcefield in a press release published on May 17. Per the announcement, the platform is an Internet of Things solution that allows the monitoring of physical trade inventories with sensors and near-field communication chips. Forcefield was developed over the past year as a stand-alone product […]

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Ripple CEO: Even the Banking Goliaths Will Have to Embrace Crypto, Blockchain Innovation

Ripple CEO Brad Garlinghouse has argued that the biggest banks have a strong reason to embrace crypto and blockchain innovation, despite the apparent threat it poses to their current oligopoly. The CEO made his remarks during an interview on the Recode Decode podcast with Kara Swisher on May 20. Throughout the interview, Garlinghouse underscored that Ripple’s approach is to work […]

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Circle Releases Another Attestation Report on Stablecoin USDC’s USD Reserves

Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). The company reported the update in a blog post published on May 17. USD Coin is an Ethereum-based token compliant with the ERC20 standard that was first announced in May last year and released in September. Per this week’s announcement, the audit of the coin’s […]

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European Central Bank: Crypto Does Not Have Tangible Impact on Real Economy

The European Central Bank (ECB) stated that cryptocurrencies do not have implications on monetary policy or factor into the real economy in a May report. In the report dubbed “Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures,” ECB looks into the potential impact of digital currencies on economic developments and monetary policy. The bank specifically states […]

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London markets rally after lowest unemployment in 45 years

London equities were on a tear on the heels of Monday’s sharp declines, as the U.K. reported the lowest unemployment figures in 45 years. The U.K.’s FTSE 100 UKX, +0.85% jumped 0.9% to 7,225.3 on Tuesday, more than erasing Monday’s loss of 0.6%. The pound GBPUSD, -0.2238% was 0.1% lower at $1.2949. On Monday it was down 0.4%. The U.K.’s unemployment […]

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There's a New Medici Bank After 500 Years, And This Time It's Crypto-Friendly

Prince Lorenzo de’ Medici – a descendant of the famed Renaissance-era Italian banking family, the House of Medici – has opened a bank in Puerto Rico. Medici Bank, “born out of frustration with the current financial services landscape,” aims to offer faster, cheaper and more transparent services, according to an announcement Wednesday. Notably, the new institution will serve cryptocurrency firms, […]

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Elon Musk owes $507 million to banks helping Tesla raise capital

SAN FRANCISCO (Reuters) – Tesla Inc Chief Executive Elon Musk personally owes $507 million to Wall Street banks involved in Tesla’s stock and debt sale, backed by his stake in the electric car maker, a company filing showed on Thursday. The lending was disclosed in Tesla’s prospectus on Thursday to raise up to $2.3 billion with new shares and convertible […]

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Four banks hit by online glitch as customers unable to log in

Two banking groups have apologised after customers experienced problems accessing their online accounts. Users banking with Lloyds Banking Group, which includes Lloyds Bank and Halifax, were among those affected by issues with internet and mobile banking services on Monday morning. RBS, which owns NatWest and Royal Bank of Scotland, also said a small number of its customers may have experienced […]

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