Blockchain

The speed at which money transfer payments are evolving from legacy, paper-based systems to digital platforms couldn’t be more stark at Western Union, where Sheri Rhodes has just been named executive vice president and chief technology officer.

The bank’s distributed ledger for private equity deals can now provide nodes to auditors, so they can easily access documents and data for their annual reviews.

Doubling down on its surprise pivot to blockchain technology, the former parent company of Long Island Iced Tea—now Long Blockchain Corp.—is buying a U.K. tech firm specializing in distributed ledger technology and cryptocurrency.

How do you get to the top of the payments stack at one of the nation’s preeminent digital-forward banks? You reach for every challenging opportunity you see, according to Reetika Grewal, head of payments strategy and solutions at Silicon Valley Bank.

Federal Reserve warns that nonbank lenders pose risks to the financial system; Swift says the technology needs more work.

Ripple, the U.S. digital payments company, is working with 61 Japanese banks on an application that will enable customers to settle cash transfers instantly around the clock, the latest effort to apply blockchain technology in finance.

At CUNA’s GAC, one credit union leader explained that CUs need blockchain and distributed ledger technology now for the same reason they needed websites in the '90s -- even if the technology is confusing, it's going to be a big deal sooner than you think.

State-level support will give the digital assets industry much needed footing, said Caitlin Long, a former managing director at Morgan Stanley.

Banks are putting the concept of securities lending on a blockchain-inspired platform to the test.

Momentum is continuing unabated for blockchain projects and initial coin offerings as the potential for blockchain continues to be realized.