Category: banks

Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban

Iran has been developing its own cryptocurrency, a project which has yielded an experimental local crypto, despite the country’s central bank banning banks from dealing with cryptocurrencies. Iran’s Information and Communications Technology Minister has shed light on the project, commented on its alleged use to evade sanctions, and clarified the central bank’s action. Also read: Yahoo!

Indian ICICI Bank Enlists 250 Corporates To Int’l Trade And Finance Blockchain Platform

ICICI Bank, India’s largest private sector bank by consolidated assets, onboarded over 250 corporates to its Blockchain platform for trade finance transactions. Indian banking giant ICICI Bank has consigned more than 250 corporates to its Blockchain platform for domestic and international trade finance transactions, according to a press release published April 17. ICICI Bank started

Bank of Japan Turns Back on State-Issued Cryptocurrency

The Bank of Japan has become the latest government financial institution to recognize the risks of state-issued cryptocurrencies. According to its Deputy Governor Masayoshi Amamiya, a national digital coin may jeopardize the traditional financial system established in developed countries. The Japanese central bank has no plans to issue its own crypto, he said. Also read:

US Stablecoin Project Basis Raises $133 Mln From Major VC Firms

New proposed stable cryptocurrency project Basis raises $133 mln from big name VC investors. The US-based Blockchain project Basis (formerly known as Basecoin), which claims to provide a non-volatile cryptocurrency or stablecoin, has recently raised $133 mln in funding from big name investors, according to an official blog post published today, April 18. Basis announced

Banks and the Crypto Industry: Asia

What to expect for the future of banking and fintech Bitcoin captured global curiosity when its’ value skyrocketed in 2017. Yet, financial institutions have been slow to add operational value to the crypto market.   The common denominator among places where governments and banks have restrained digital markets is the lack of transparency and control they