By CCN: According to Reuters sources, about 12 banks are investing in a blockchain ledger complete with digital cash. While it’s unclear which banks are currently participating in the $50 million project, a spokesman for Barclays told the news organization that “the Research & Development phase is coming to an end.” R&D Phase Ending The rarely discussed project began in 2015 with little...
The Court of Justice in São Paulo, Brazil, has recently ruled Banco Santander has to unfreeze the account of a local cryptocurrency exchange, Mercado Bitcoin, with over 1.35 million reals ($350,000) in it. This, after determining a “lack of regulations doesn’t make [something] a criminal activity”. According to local news outlet Portal do Bitcoin, judge Renata Barros Souto Maior Baião ruled in...
On October 2, Ripple Labs announced the integration of RippleNet into OnePay FX, a mobile application for cross-border payments developed by $80 billion banking giant Banco Santander. The strategic partnership between Ripple Labs and Santander was announced in March of 2018, but at the time, the intricacies of the collaborative work between the two companies were not disclosed to the public...
A report has been published on the current fintech market at the request of the ECON Committee. It analyses competition issues in the sector and cryptocurrencies were featured in it. The European Parliament Committee on Economic and Monetary Affairs, also known as ECON, is a committee overseeing the decisions made by the European Central Bank (ECB). At its request, the Police Department for...
The Ripple price rallied by 20 percent on Friday following the announcement that Santander had tapped Ripple technology for its new blockchain-based payment app. Ripple Price Posts 20 Percent Rally The cryptocurrency markets made a unified advance for the second consecutive day on Friday, with most coins posting single-day gains in excess of 10 percent. Among large-cap coins, none achieved a...
Spanish banking giant Banco Santander has announced the launch of its international payments app for retail customers in four countries using xCurrent, Ripple’s blockchain technology. Santander is laying claim as the “first bank to roll out a blockchain-based international payments service to retail customers in multiple countries simultaneously” with the launch of One Pay FX, in a statement...
Spanish banking giant Banco Santander is set to roll-out a personal payments app for retail customers powered by Ripple’s blockchain technology in Q1 2018. In what could become the earliest major retail use cases of blockchain technology in the banking system, Santander is set to launch a personal payments app for international payments powered by Ripple’s blockchain tech. First reported by...
Paul Schaus, CEO at CCG Catalyst, a bank management consulting firm, argues in American Banker that banks' investments in blockchain technology will come to full fruition in several years due to regulatory uncertainty, but it will provide some benefits short term in improving internal operations. He argues that banks must have realistic and long-term expectations. Schaus noted that an IMB survey...
Banco Santander, one of the early participants of the R3 blockchain consortium has abandoned the working group, joining investment banking institution Goldman Sachs in departure. The Spanish banking giant’s decision to let its R3 membership lapse is the second high-profile exit from the working group and comes in the months after it roped in Blythe Masters for a blockchain advisory role at the...
Santander bid to make history today as the first multinational bank to use ethereum’s public blockchain to transform central bank issued money into digital currency. One of the biggest bank in the world, Santander, aims to allow its customers to turn bank account funds into ethereum based tokens, starting a new stage in digital currencies and beginning a move towards mainstream use. They have...
Santander, one of the biggest global banks with almost 200,000 employees and yearly revenue of more than $12 billion announced today the gold sponsorship of Devcon2, one of the biggest event of the year in the blockchain space to be held in just over three weeks. The sponsorship follows Santander’s participation in the Universal Settlement Coin project, an Ethereum based private blockchain that...
The U.K.’s Financial Conduct Authority (FCA) is thinking about approving a number of blockchain companies as it actively encourages businesses to utilize bitcoin’s underlying technology. Despite the fact that some regulators are cautious over the use of blockchain technology, the U.K.’s FCA is known as the most forward-thinking. It comes as no surprise then, that in an interview with the...
Spanish banking group Banco Santander has announced that Digital Asset Holdings CEO Blythe Masters will see a new role as the group’s senior blockchain advisor. Spain-based global banking group Santander has announced several new roles for Digital Asset Holdings (DAH) CEO Blythe Masters. In a press release, the banking group revealed Masters’ new position as the banking group’s senior adviser on...
Santander has begun using an app for international payments using Ripple Labs’ blockchain technology, according to Ripple on its Ripple Insights website. The pilot app makes Santander the first U.K. bank to use Ripple technology for cross-border payments. Santander is introducing the app as a staff pilot, with the intention to expand the technology. Once the app is downloaded, Santander staff...
Imperial College Business School in London has teamed with Citigroup Inc. to explore digital currencies, following similar partnerships between other schools and MasterCard and Santander, according to BusinessBecause, a news site for business schools. Imperial College is among those teaching MBAs about cryptocurrency and has also announced the opening of a center for global finance and technology...