Blockchain in banking news
Here are some recent news articles and updates on blockchain in banking:
1. JPMorgan Chase Launches Blockchain-Based Payment System
JPMorgan Chase has launched a blockchain-based payment system called JPM Coin, which allows for faster and cheaper cross-border payments. The system uses a digital currency to facilitate transactions, reducing the need for intermediaries and increasing efficiency. (Source: Coindesk)
2. Bank of America Files Patent for Blockchain-Based Identity Verification
Bank of America has filed a patent for a blockchain-based identity verification system that uses a decentralized ledger to store and manage user identities. The system aims to improve security and reduce the risk of identity theft. (Source: The Block)
3. Santander Partners with Ripple to Launch Blockchain-Based Payment Service
Santander, a Spanish bank, has partnered with Ripple to launch a blockchain-based payment service called One Pay FX. The service allows customers to make international payments in real-time, reducing the need for intermediaries and increasing efficiency. (Source: Finextra)
4. Blockchain-Based Lending Platform Raises $100 Million in Funding
A blockchain-based lending platform called BlockFi has raised $100 million in funding from investors, including Galaxy Digital and ConsenSys Ventures. The platform uses blockchain technology to facilitate lending and borrowing, reducing the need for intermediaries and increasing efficiency. (Source: Forbes)
5. Mastercard Launches Blockchain-Based Cross-Border Payments Solution
Mastercard has launched a blockchain-based cross-border payments solution called Mastercard Blockchain Payments. The solution uses a decentralized ledger to facilitate transactions, reducing the need for intermediaries and increasing efficiency. (Source: Business Insider)
6. Blockchain-Based Trade Finance Platform Raises $20 Million in Funding
A blockchain-based trade finance platform called Trade Finance Global has raised $20 million in funding from investors, including the International Finance Corporation. The platform uses blockchain technology to facilitate trade finance transactions, reducing the need for intermediaries and increasing efficiency. (Source: The Trade Finance Times)
7. Bank of China Launches Blockchain-Based Supply Chain Finance Platform
The Bank of China has launched a blockchain-based supply chain finance platform called the "Blockchain-based Supply Chain Finance Platform". The platform uses blockchain technology to facilitate supply chain finance transactions, reducing the need for intermediaries and increasing efficiency. (Source: China Daily)
8. Blockchain-Based Insurance Platform Raises $10 Million in Funding
A blockchain-based insurance platform called B3i has raised $10 million in funding from investors, including the Swiss Re Group. The platform uses blockchain technology to facilitate insurance transactions, reducing the need for intermediaries and increasing efficiency. (Source: Insurance Business)
9. Blockchain-Based Securities Settlement Platform Launches in Singapore
A blockchain-based securities settlement platform called the "Singapore Exchange (SGX) Blockchain Platform" has launched in Singapore. The platform uses blockchain technology to facilitate securities settlement, reducing the need for intermediaries and increasing efficiency. (Source: The Business Times)
10. Blockchain-Based Digital Identity Platform Raises $5 Million in Funding
A blockchain-based digital identity platform called Self-Sovereign Identity (ERC-725) has raised $5 million in funding from investors, including the Ethereum Foundation. The platform uses blockchain technology to facilitate digital identity verification, reducing the need for intermediaries and increasing efficiency. (Source: Coindesk)
These are just a few examples of the many recent news articles and updates on blockchain in banking. As the technology continues to evolve, we can expect to see even more innovative applications of blockchain in the financial industry.