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Abu Dhabi Bank Partners with Ripple for Cross-Border Payments

Abu Dhabi’s largest bank has begun offering a new cross-border transaction service in partnership with distributed ledger startup Ripple. The National Bank of Abu Dhabi (NBAD), the emirate’s biggest bank and one of the largest in the UAE, said today that it has integrated Ripple’s technology into its own systems, allowing for intrabank transfers for NBAD customers.  Vineet Varma, NBAD’s managing director ... Read More »

Dubai’s Government Launches Blockchain Trade Finance Trial With IBM

Dubai’s government is testing blockchain tech for trade finance in partnership with IBM. Dubai Customs, the emirate’s customs office, and Dubai Trade, an electronic trade services hub operated by the government, are helping spearhead the initiative, announced today. Several private companies are involved, including Emirates NBD and Banco Santander, two major banks that have tested the tech in the past. Du, a UAE-based telecom, and ... Read More »

CoinDesk Acquires Lawnmower

CoinDesk, the leading media & events business in the bitcoin and blockchain industry, announced that it has acquired Lawnmower, a blockchain data and research platform. The full Lawnmower team will join CoinDesk in its New York office. Founders Pieter Gorsira and Patrick Archambeau, who built Lawnmower’s popular digital currency portfolio tracking application, will lead CoinDesk’s engineering team, while co-founder Alex ... Read More »

Brexit Blues: Why Dublin is Turning Into a Haven for Blockchains

Following the UK’s leave vote, Dublin was found to be the second most attractive financial center in Europe by a PwC survey – and although London still topped the poll, uncertainty over the terms of Britain’s exit from Europe make the Irish challenger more appealing by the day. Besides a specialization in financial services, Ireland is already the European outpost for many ... Read More »

Blockchain Proven to be Faster than Wire Transfers in Banking Payment Test

According to the Asian Nikkei Review, the unnamed “megabanks,” the Deloitte Tohmatsu accounting group and the Bitcoin exchange bitFlyer have been running Blockchain tests for a considerable part of 2016, with the final tests concluding in September. The goal was to see if Bitcoin’s Blockchain technology (distributed ledger technology) could hold up to the rigors and speed requirements of the current currency ... Read More »

Blockchain R3 Funding: Most R3 Members Will Invest in Funding Effort

More than 30 R3 member banks are expected to invest in the blockchain consortium startup as part of its ongoing $150m funding round according to Coindesk. The funding round would find R3 Partners (the startup’s capital vehicle) retaining 40% of the company, with member banks allotted the remaining 60% of the venture.  R3 members reportedly had until last Friday to declare non-binding ... Read More »

KYCK Launches Know Your Customer Platform on IBM’s High Security Business Network on Secured LinuxOne Servers

KYCK! is a first level KYC platform with remote onboarding capabilities that raises the quality of first level KYC, at a higher level of convenience. In essence KYCK claims to be a one-stop digital identity wallet.  KYCK believes in data security.  A primary reason why the company has collaborated with IBM to store identities on a private, permissioned blockchain network. ... Read More »

Blockchain Consortium R3 Faces Defections by Investment Banks

Morgan Stanley is said to be pulling out of the R3CEV blockchain consortium, according to reports. Reuters and The Wall Street Journal indicate that the bank doesn’t plan to take part in the startup’s ongoing funding effort, aimed at raising $150m. Earlier this week, it was revealed that Goldman Sachs and Banco Santander had moved to withdraw from the consortium, though at press time, neither bank has publicly ... Read More »

Digital Federal Credit Union Joins Digital Trade Group Digital Chamber

Digital Federal Credit Union (DCU) has joined the Chamber of Digital Commerce, the Washington, DC-based blockchain trade organization. DCU claims to be the largest credit union in the New England region by total assets. Founded in the late 1970s, it boasts more than 500k members throughout the US. The Massachusetts-based credit union is the first of its kind to join the organization, which was established in ... Read More »

Chain Open-Sources its Blockchain Tech

Chain is officially open-sourcing its blockchain platform, Chain Protocol, at Money2020 (according to Adam Ludwin, founder and CEO), at which point the technology the startup has built with select partners (and first announced as ChainOS) will be freely available to developers worldwide to download and install. Released as part of the package are actually two pieces of technology.  The first is the Chain ... Read More »