Distributed ledger technology

A number of large banks, the Federal Reserve of New York and Swift participated in a proof of concept of a shared ledger that would allow cross-border transactions to settle instantly in U.S. dollars — with regulators literally in the loop. 

A blueprint for a shared ledger for digital money would include central bank digital currencies, bank deposits and e-money from companies like PayPal — but not unsupervised cryptocurrencies.

Customers Bank, Cogent Bank and Western Alliance bank settled 400  transactions among themselves in real time, over the course of eight hours.

Distributed ledger projects in banking are few and far between — many have stalled and others remain experiments. Robert Townsend, who has worked with banks around the world and written a book about blockchain technology, explains some of the ways financial institutions could be using it, for instance in small-business lending and supply chain finance.

Olaf Carlson-Wee, founder and CEO of the cryptocurrency hedge fund Polychain Capital, discusses which digital currencies and blockchain technologies are reshaping payments and which are “nonsense projects.”

The digital currency and related distributed-ledger technologies could "enhance the efficiency, effectiveness and stability of the provision of payments," according to an interpretive letter issued by the Office of the Comptroller of the Currency.

Founder Caitlin Long says the blockchain bank plans to issue a virtual currency and help hedge funds and family offices trade digital assets now that it has a special-purpose banking charter in Wyoming.

After selling the rights to its Ethereum-based technology, the bank is rebranding a venture related to cross-border payments and creating a new umbrella group to oversee all blockchain-related efforts.

After selling the rights to its Ethereum-based technology, the bank is rebranding a venture related to cross-border payments and creating a new umbrella group to oversee all blockchain-related efforts.

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

The bank will outsource future development of Quorum to the software firm.

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

The agency sought industry feedback on a host of potential changes to ensure that rules are “sufficiently flexible and clear in light of the technological advances that have transformed the financial industry over the past two decades."

An innovative approach to settling trades pioneered by the bank and the tech firm Paxos Trust could start a wave of real-life use of distributed ledgers on Wall Street.

MyCUID, an identity-verification tool launched in early 2018, has a new identity of its own.

The largest digital token has posted gains of more than 9,000,000% since July 2010, according to data compiled by Bloomberg.

A new system uses biometrics and distributed ledger technology to safeguard call centers from identity theft attacks.

A digital currency firm has been accused of recruiting actors to pretend to be Comerica and Mastercard employees, writing a fake prospectus and taking other steps to make it look like the two U.S. companies were its partners in an investment venture.

It's not a reaction to JPM Coin, the banks says, but a way to speed up international payments for corporate clients.

It's created a new digital assets and distributed ledger group, trades bitcoin futures and is funding a crypto exchange.