Blockchain

The nine banks in the group are experimenting with lending, secondary market and payments activities on the Provenance blockchain as they seek ways to perform basic banking tasks more efficiently.

To create sensible rules around decentralized finance, regulators have to have an open discussion with businesses in the industry. To do that, they must create a path for collaboration.

Banks need to come together to create interoperable tokenized deposits, as part of an effort to bridge the gap between traditional finance and blockchain.

The New York City bank bets that claiming space in virtual reality now will pay off down the line.

The two San Francisco-based companies are seeking to provide a one-click cryptocurrency checkout system to simplify digital shopping.

BCC Group, BCware and Synadia will jointly develop Web3Link, which the companies say will help banks deploy smart contracts that work with their existing technology and decentralized finance environments.

The new group will provide technical assistance for cloud clients’ blockchain-based platforms.

It's easy for banks to get caught up in the hype around cryptocurrency, but instead of rushing in they should take time to assess how the technology will best meet their own needs and those of their customers.

Figure Technologies, the startup co-founded by Mike Cagney, created a platform to help private companies raise and trade equity using its blockchain technology.

The blockchain startup Figure Technologies and other firms held talks with U.S. regulators about how to issue a stablecoin that satisfies watchdogs amid deep Washington skepticism over the fast-growing corner of the cryptocurrency market.

Crypto firms that offer stablecoins, blockchain-based decentralized finance apps and services supporting peer-to-peer transactions may be required to keep tabs on their users’ identities and funds as a way of preventing money laundering and terrorism financing, the Financial Action Task Force said.

Nonfungible tokens, which provide proof of ownership in the digital world, are booming. Payment companies are betting they will require payment rails to fund high-value purchases and attract new customers for loyalty marketing.

The partnership with Stellar Development Foundation will integrate MoneyGram’s network with the Stellar blockchain to facilitate payments using Circle Internet Financial’s USD Coin. 

Finance that relies on smartphones and smart contracts can lower costs for banking services and promote financial inclusion, proponents say. But a look at who is using the technology tells a different story.

CEO Thomas Cangemi is pushing to modernize a bank that for decades was focused largely on multifamily lending. The company has already agreed to buy the mortgage lender Flagstar Bancorp and its partnership with Figure Technologies, a blockchain-focused fintech, has the potential to make that acquisition more productive.

New York Community Bancorp says it will invest in Figure Technologies, which has developed an open source distributed ledger. The bank plans to use the technology to cut costs in mortgages and payments and promote financial inclusion.

CoinFund, a blockchain-focused investment firm, hired Christopher Perkins from Citigroup as managing partner and president to help bridge the gap to the traditional finance sector.

The blockchain company's new lead on the Continent, Sendi Young, discusses its plans to foster real-time and cross-border transactions between banks and fintechs in ways that aren't possible on legacy networks.