Banking

Standard Chartered Completed a Letter of Credit Transaction on the Voltron Blockchain Trade Platform

Standard Chartered Completed a Letter of Credit Transaction on the Voltron Blockchain Trade Platform

  • Standard Chartered used the Voltron blockchain platform to digitise and simplify the exchange of information between all participants.
  • A Letter of Credit transaction usually takes up to 5 days to complete, but using blockchain technology it took less than 12 hours.
Central Banks Could Begin Issuing Digital Currencies in The Future

Central Banks Could Begin Issuing Digital Currencies in The Future

  • The General Manager of the Bank for International Settlements has said that BIS is supporting the world's central banks in their efforts of researching and developing digital currencies.
  • A recent report from the International Monetary Fund shows that several central banks are already considering implementing some form of Central Bank Digital Currency (CBDC).
Tall buildings as seen from the ground.

J.P. Morgan Will Begin Customer Trials of Its “JPM Coin”

  • J.P. Morgan Chase will reportedly start trials of its "JPM Coin" with several of its corporate clients, which remain unnamed.
  • The "JPM Coin" was revealed in mid February, with the coin being presented as a stablecoin tethered to the U.S. dollar.
Blockchain Payments Network to be Launched by Japan's Largest Bank

Blockchain Payments Network to be Launched by Japan’s Largest Bank

Japan's largest financial group and the world's fifth largest bank, Mitsubishi UFJ Financial Group (MUFG), will be...