Addressing the views of the Department of Treasury, the CFPB, and the SEC on the regulation of the fintech industry in the US.
BBVA has announced the completion of “the first real-life implementation of an international money transfer using Ripple’s new distributed ledger technology (DLT)”. The transaction, which ran on BBVA infrastructures with real money, resulted in money moved between Spain and Mexio “in a matter of seconds”.
The US Securities and Exchange Commission (SEC) again has denied the listing and trading of Bitcoin, the decentralised digital currency. Meanwhile, the European Central Bank (ECB) has determined that whilst distributed ledger technology (DLT)/blockchain, has its advantages, it is not an option for the Eurosystem’s financial framework.
Distributed ledger technology (DLT) consortium R3, together with five of its members and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers. The solution is based on R3’s flagship platform, Corda, and is “an operating model for a digital collateral receipt (DCR) lending marketplace”.
An overview of the current fintech regulation in the US by the prudential regulators: the OCC, the FDIC, and the Federal Reserve.
SIX Securities Services, Switzerland’s post-trade market infrastructure says it has developed – “and intends to deploy” – a new bond issuing solution based on the distributed ledger technology (DLT).
Alphapoint, a San Francisco-based financial services infrastructure firm, has completed a blockchain proof-of-technology trial for Scotiabank, leveraging its Alphapoint Distributed Ledger Platform.
The Depository Trust and Clearing Corporation (DTCC) announced that the proof-of-concept to improve the netting process for repo transactions using distributed ledger technology (DLT) has been successfully completed.
The committee on payments and market infrastructures at the Bank for International Settlements (BIS), an international financial institution owned by central banks, has issued an analytical framework on distributed ledger technology (DLT) in payment, clearing and settlement.
There is pressure for CEOs to decide how distributed ledger technology (DLT) fits into their business strategy. Regulators also recognise that blockchain could advance their own processes. So what is all the excitement about? Blockchain is an exciting innovation but the technology has flaws…