In a bold step, BNP Paribas Securities Services has struck a partnership with renewable energy crowdfunding providers Lendosphere, Enerfip and Lumo to enable private companies to issue mini-bonds through distributed ledger technology (DLT). The platform, which is set to launch at the end of the year, aims to have transactions conducted more securely as well… Read More >>
Cobalt DL Wants to Take Ops Out of the Dark Ages
Financial technology vendor Cobalt DL has kick started the beta testing on its distributed ledger network, which it hopes will streamline post-trade processes and create a singular database for foreign-exchange (FX) transactions. Spearheaded by former Citi and Deutsche Bank executive Andy Coyne, the platform, which is backed by eight of the world’s largest players in… Read More >>
SEC Rewards Whistleblower with $22 Million
SEC Awards a Total of $107 Million to Whistleblowers The SEC has given a whistleblower “more than $22 million” for a “detailed tip and extensive assistance” that allowed the regulator to halt “a well-hidden fraud at the company where the whistleblower worked,” according to officials. “The $22 million-plus award is the second-largest total the SEC… Read More >>
BNY, Deutsche Bank, ICAP Back UBS Digital Cash Push
BNY Mellon, Deutsche Bank, ICAP and Santander are throwing their support behind the Utility Settlement Coin (USC) concept from UBS and newcomer Clearmatics Technologies that could lead to digital cash-based payment and settlement operations that exploit distributed ledger technology (DLT). The USC effort is intended to result in “an asset-backed digital cash instrument implemented on… Read More >>
Blockchain/DLT: A Behind-the-Scenes Revolution?
Despite massive media hype, the blockchain/distributed ledger technology (DLT) that constitutes the Bitcoin cryptocurrency will lead to radical operational overhaul spinoffs that are likely to be hidden from view, according to a new report from the World Economic Forum, the foundation for public-private cooperation and sponsor of the Davos conferences. “The financial services infrastructure will… Read More >>
Barclays Pushes to Keep its Blockchain/DLT Edge
Although there have been a host of reports questioning the viability of blockchain, banks are still forging ahead, reviewing different ways to deploy cutting-edge, systems that exploit distributed ledger technology (DLT), if the recent Smart Contract Templates Summit is anything to go by. Barclays, for example, is striking partnerships with start-ups and testing its own… Read More >>
IBM, Singapore to Build R&D Hub for Blockchain
IBM is throwing more weight behind distributed ledger technology (DLT) with the news that the IT systems and software giant plans to launch the first IBM Center for Blockchain Innovation in Singapore via a collaboration with governmental authorities. IBM’s efforts are in line with expectations that securities trading firms and financial technology vendors are likely… Read More >>
Wall Street to Spend $1B on Blockchain/DLT Projects
Securities trading firms and financial technology vendors are likely to spend $1 billion or more exploring blockchain/distributed ledger technology (DLT), underscoring how important they think the DLT push has become. “Financial service firms and technology providers around the world will spend more than $1 billion in 2016 in the race to bring blockchain to capital… Read More >>
ESMA Explores Blockchain’s Risks and Promise
It was only a matter of time before regulators wanted to lift the lid on blockchain and look deeper into the potential opportunities and challenges in the financial services sphere. The European Securities and Markets Authority (ESMA), an EU financial services watchdog, is throwing down the gauntlet with its recent discussion paper for public consultation… Read More >>
Nasdaq Launches ‘Watershed’ Blockchain Framework
The Nasdaq Stock Market reports the launch of its Nasdaq financial framework (NFF), a new software solution that bundles “business functionality across the trade lifecycle” — and that includes a blockchain. The NFF is immediately available to its more than 100 market operator clients who maintain and run the infrastructure of the world’s capital markets,… Read More >>
