Financial data firm Bloomberg has added three more cryptocurrencies to its Terminal service, alongside bitcoin: ether (Ethereum), XRP (Ripple) and Litecoin. Sources say the addition is aimed at forex traders seeking to explore the new instruments.
The Australian Securities Exchange (ASX) has announced that it will replace its post-trade settlement system with blockchain technology developed by startup Digital Asset. The decision represents a key milestone as ASX becomes the first mainstream exchange in the world to migrate its core services to a blockchain-based system.
ASX To Become World’s First Blockchain-Based Stock Exchange
The Commonwealth Bank of Australia has revealed plans to issue a blockchain bond. CommBank's head of blockchain indicated that the bond would be transferred and paid for over a blockchain-based system, and confirmed that the bank is also considering the technology for use with equities, syndicated loans, and other areas with 'high levels of friction'.
Australia's CommBank to Issue Blockchain Bond
Nasdaq plans to launch bitcoin futures as early as the second quarter of 2018, according to exchange officials. The CBOE and the CME have also announced plans to launch futures tied to the cryptocurrency in the near future.
Nasdaq to Launch Bitcoin Futures in Second Quarter of 2018
What has FinTech brought to the wealth management industry? The short answer is AI. Thompson Reuters suggests that cognitive software platforms, which provide the tools to analyze, organize, access, and provide advisory services based on a range of structured and unstructured data, will attract investment of nearly $2.5 billion in 2017 alone.
How FinTech Is Transforming the Wealth Management Industry
The prospect of blockchain technology remaking financial services just moved a step closer to reality, after banks including Goldman Sachs and JPMorgan completed a successful six-month test in the $2.8 trillion equity swaps market.
Blockchain Gets a Wall Street Win: ‘We Know the Thing Works Now’
CME Group, the world’s largest derivatives exchange, plans to launch bitcoin futures contracts, making it the second U.S. exchange to offer bitcoin derivatives to institutional traders. Earlier this month, LedgerX launched its own institutional trading and options platform, experiencing larger-than-expected volumes.
World’s Largest Derivatives Exchange to Launch Bitcoin Futures
After months of speculation and conflicting messages, ministers have announced the Russian Federation is to issue its own official cryptocurrency – the CryptoRuble. The landmark development will make Russia the first government in the world to officially implement digital currency.
Vladimir Putin Endorses Russia's New CryptoRuble
JPMorgan today announced their new Interbank Information Network (IIN), developed in partnership with Royal Bank of Canada and New Zealand Banking Group, and designed to "minimize friction" in global payments by using blockchain technology to streamline common procedures. JPMorgan said it expects more banks to support the network in the coming months, allowing them to increase efficiency by cutting down on transaction delays. The network is powered by JPMorgan's Ethereum-based Quorum blockchain technology.
JPMorgan Announces New Payments Network Based on Blockchain Technology
The Royal Bank of Canada (RBC) is trialling blockchain technology for fund transfers to and from the U.S. Built using open-source tech from the Hyperledger consortium, the new system was deployed about a week ago as an underlying layer to RBC's existing payments system.
Canada's Largest Bank Tests Blockchain for Cross-Border Payments
Professor David Yermack from NYU Stern School of Business argues that it’s only a matter of time before Central Banks withdraw banknotes from circulation and put their national currency onto a blockchain, rending other banks “unnecessary”.
Central Bank Blockchain Could Make Other Banks Obsolete
Technological advancements require that regulators become more inventive in how they monitor financial transactions. Blockchain technology is increasingly being viewed as a key component to enhance regulators’ digital capabilities for the oversight of financial markets.
CFTC Chairman: Government Must Ditch 'Analog Regulation,' Embrace Blockchain
The Bank of International Settlements (BIS) has published a new report that recommends the use of distributed ledger (blockchain) technology to help central banks replace their aging payment systems. Various central banks are already experimenting with applications of blockchain tech, including the Bank of Canada, the Central Bank of Brazil, the Monetary Authority of Singapore, and the Bank of England.
'End of Life Cycle': BIS Report Positions DLT as Needed Banking Update
SETL and four French fund managers are aiming to go into production in 2018 with a pan-European fund record-keeping platform based on blockchain technology. Designed to provide investors, asset management firms, distributors and wealth management advisers with straightforward access to fund units, the system manages KYC processes, handles subscription / redemption instructions, and settles transactions and record positions.