Blockchain

Raiffeisen Among 18 Banks in First Global Tokenized Collateral Trial

single-image

bitbond bitcoin lending

Twenty-eight organizations including Raiffeisen and 17 other banks have participated in the successful completion of the Ivno Global Tokenized Collateral Trial. This is the first global token trial on the R3 Corda platform, hosted on Microsoft Azure, as reported on Oct. 17.

Efficiencies in tokenized collateral

The trial, conducted by London-based Ivno, saw the participating organizations create $18 billion of Trial Tokens, and transfer them through the Ivno network. This was a live demonstration of how mobile collateral tokens can be used for instant settlement, collateral management and effective cash transfer.

Ivno’s platform is designed to improve efficiency and create new business opportunities while reducing the infrastructure costs of inefficient legacy post-trade processes.

First large scale trial on R3 Corda

This represents the first global-scale trial on R3’s Corda platform. R3 CEO, David E Rutter explained the significance:

“The number and caliber of participants we have seen take part in the Ivno token CorDapp trial is testament to blockchain’s growing use cases.”

Ivno Co-Founder, Daniel Halstead, backed this up, saying that, “The size, scale and success of the Ivno Global Trial validated Ivno’s technology and financial design and confirmed the desire and demand for live deployment.”

Whilst a representative of Raiffeisen Bank further praised the trial, saying, “Liquidity management will enter a new era once products and services like Ivno go live.”

Raiffeisen originally joined the R3 Corda network in May, along with Brazilian bank, Bradesco, and three major French banks.





Source

Leave a Reply

avatar
  Subscribe  
Notify of

You may also like

Blockchain

Ukraine Passes Law on Money Laundering With Crypto Policy Based on FATF

single-image

bitbond bitcoin lending

The Ukranian government has approved the final version of a money laundering law that will handle virtual assets and virtual asset service providers (VASPs) per FATF guidelines.

On Dec. 6, the Rada, Ukraine’s legislative body, published a final version of the law that considers virtual assets to be a store of wealth, while also recognizing its potential use in financial crimes, such as money laundering, fraud, and the financing of terrorists.

Applying verification to both sender and receiver

The new law includes some guidelines on how the government intends to monitor and regulate the trading of cryptocurrencies. One of the guidelines focuses on individual crypto transactions worth less than 30,000 hriven ($1,300), from which the government will only collect the public key of the sender for the purpose of financial monitoring. 

However, once the transaction exceeds that amount,…


View More Article
Bitcoin

Börse Stuttgart Digital Exchange Opens to All Users Based in Germany

single-image

bitbond bitcoin lending

Following the start of trading platform for selected investors in September, Börse Stuttgart Stock Exchange (BSDEX) has now opened to all interested users with residence in Germany. Börse Stuttgart made its announcement in a press release on Dec., 6. 

Trading venue open — under certain circumstances

First of all, users will have to limit themselves to deposits and withdrawals as well as trading bitcoins against euros. In the future, BSDEX will also list other cryptocurrencies and digital assets like security tokens. 

Users will have to prove their identity digitally and fulfill certain requirements. To connect directly to BSDEX, users must hold a German bank account and be at least eighteen years old, resident in Germany and a national of a country in the European Economic Area (EEA).

First regulated token trading platform in Germany

BSDEX meets the regulatory requirements…


View More Article
Blockchain

‘Blockchain Is A Rapidly Maturing Technology in China’

single-image

bitbond bitcoin lending

Forkast Insights, the research arm of Asia-based Forkast, took an in-depth, comprehensive look at how blockchain technology is integrated in China.

On Dec. 5, Forkast Insights presented its first report on how blockchain is being applied by the Chinese government and companies across the country. According to the report, blockchain technology is rapidly maturing and has a slew of “real-world, practical use cases that are far beyond the experimental stage.”

Forkast Insights included the in-depth analysis and insights from top China-based blockchain insiders, academics, and leaders to see how one of the world’s largest economy is experiencing this innovative technology.

The report takes a closer look at how blockchain implementation in China compares to the rest of the world, how firms use blockchain and how Chinese consumers experience it in their daily lives, how China takes the lead…


View More Article
Bitcoin

Brazil’s Tax Authority Fines Those Who Fail to Declare Bitcoin and Crypto

single-image

bitbond bitcoin lending

Brazil’s tax agency, the Department of Federal Revenue (RFB), published a new tax code that specifies fines for taxpayers who fail to declare their Bitcoin (BTC) and cryptocurrency transactions.

On Dec. 6, Cointelegraph Brasil reported that the new crypto tax code is a further follow-up to provisions made by the RFB in August that require Brazilian citizens to report all transactions involving cryptocurrencies, in accordance with rules established by Normative Instruction 1,888 introduced in May 2019.

The already implemented tax code applies to individuals, companies and brokerages, and includes all crypto-related activities, including buying and selling, as well as donations, barters, deposits, withdrawals and others.

Those who fail to file a statement on their crypto transactions will be subject to penalties ranging from 500 Brazil reals (BRD) to 1500 BRD, or from $120 to $360. 

In August, Cointelegraph reported that RFB believes that…


View More Article
Blockchain

Blockchain and 3D Printing Are Reinventing Aerospace Supply Chains

single-image

bitbond bitcoin lending

Blockchain, like many other emerging technologies, is enthusiastically touted as a solution to many of the world’s problems. Perhaps because of its relation to cryptocurrency or the narrative prophecies that surround them both, blockchain draws both criticism and praise from a staggering array of sectors.

However, with the big blockchain push from Chinese President Xi Jinping along with many tech, finance and industry giants piloting blockchain implementation, the number of use cases grows with each passing day. While cryptocurrency more often draws ire from the mainstream financial world, it seems that for blockchain, the sky’s the limit — but not for long.

A combination of blockchain and 3D printing for aircraft parts may launch the technology into the stratosphere. Cointelegraph spoke to major players in aerospace, including Ernst & Young’s global blockchain leader about blockchain’s vast potential to impact global business through 3D…


View More Article
Bitcoin

Crypto Pyramid Scheme in Uganda Steals Employees’ Money and Closes

single-image

bitbond bitcoin lending

An alleged cryptocurrency pyramid scheme in Uganda has fled after defrauding dozens of victims that invested in and worked for the scheme.

Dunamiscoins Resources Limited opened in Masaka last month and started inviting individuals to invest and become part of its “digital currency network,” independent Ugandan newspaper Daily Monitor reports Dec. 5. The firm’s offices closed down covertly just a month after opening, with employees reportedly coming to the office to find it empty.

Dunamiscoins required employees to pay to start work

A businessman who worked next to Dunamiscoins’ closed offices reportedly said that Dunamiscoins was convincing people to join its firm by promising 40% returns on cash investments. According to the witness, the firm was apparently working with money transfer companies in the city to recruit new people to the scheme.

Additionally, Dunamiscoins allegedly asked each applicant to pay 20,000…


View More Article
Bitcoin

Bitcoin Price Showing Hidden Signs of Reversing — Next Target $8.2K

single-image

bitbond bitcoin lending

This week Bitcoin (BTC) continued to trade within a tightly defined range and at the time of writing the price is flat. The bulls and bears have been throwing the market back and forth with moments of high volatility on the lower timeframes, all of which are often a sign of a larger move simmering beneath the surface.

The wider market remains in a similar position, although some altcoins like XRP have slightly outperformed Bitcoin over the past 24 hours. 

Cryptocurrency market daily view. Source: Coin360 Cryptocurrency market daily view. Source: Coin360

Watch the weekly chart

BTC USD Weekly chart. Source: TradingViewBTC USD Weekly chart. Source: TradingView

Analyzing the weekly chart shows that Bitcoin has fundamentally…

View More Article