U.S. crypto-asset exchanges Coinbase and Gemini, both known for aggressively seeking regulatory approval, have been accepted as JPMorgan Chase customers, breaking through an important glass ceiling in the financial industry. This is the first time any major U.S. bank has accepted clients from the crypto world since they began shunning the Bitcoin business several years ago.
Cambodia’s New DLT Payments Network Aims to Undermine US Dollar
The National Bank of Cambodia will launch a DLT-based network to enable greater interoperability in the country’s payments sector and to mitigate dollarization. Consumers will be able to make near instant payments via the platform, currently in pilot mode, using a mobile app and QR codes. The NBC is also developing a remittance-focused cross-border payment project with Malaysia’s Maybank.
Accredited Investors on CoinList Pour $10M Into Celo Token Sale in Roughly 12 Hours
Silicon Valley blockchain startup cLabs just raised $10 million for the Celo project through a token sale to accredited investors on the CoinList platform. Roughly 109 investors from dozens of countries participated in the auction, paying an average of $5 per Celo Gold (cGold) token. The average buyer spent $519 on these tokens and often earned 50 bonus tokens for referrals.
The role of blockchain in banking
In this digital report, OMFIF and CCBU investigate the effects of blockchain and distributed ledger technology on financial institutions’ business models. It finds that payments solutions are set to become the dominant use case, though banks still face regulatory and scalability issues. Regulatory approaches to blockchain in financial services are incomplete, and significant upgrades are required, both at global and domestic level.
Central bank digital currency can be safe and private, claims CipherTrace
Blockchain forensics firm CipherTrace wants to expand its business to central banks. A new initiative aims to help central banks launch their own digital currencies in a safe, private, and regulatory compliant manner. CipherTrace, funded by DARPA, already works with banks and governments around the world.
Posted from Diigo: https://www.diigo.com/user/kiffmeister/Fintech