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HSBC, StanChart, others launch trade finance platform

HSBC, StanChart, others launch trade finance platform

Reading Time: 1 minuteeTrade Connect, the platform developed by HSBC, Standard Chartered and 10 other banks, was launched in Hong Kong on Wednesday set to make the multi-billion industry of international trade more efficiently. Agricultural Bank of China and BNP Paribas were among the participants in the development of the platform. The industry is heavily paper-oriented and manual....

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JP Morgan to use Quorum Blockchain to Digitise Gold

JP Morgan to use Quorum Blockchain to Digitise Gold

Reading Time: 1 minuteQuorum is an enterprise-focused Ethereum-based blockchain developed by JP Morgan. Umar Farooq, JP Morgan’s Head of Blockchain Initiatives, expressed his belief in Ethereum and tokenization of assets at Sibos 2018. “They wrap a gold bar into a tamper-proof case electronically tagged, and they can track the gold bar from the mine to endpoint – with...

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Coinbase Won’t Go Public Anytime Soon, COO Asiff Hirji Said

Coinbase Won’t Go Public Anytime Soon, COO Asiff Hirji Said

Reading Time: 1 minuteIn his interview with Bloomberg Coinbase Inc. President and Chief Operating Officer discussed the exchange’s latest investment round which raised its evaluation to $8 billion and denied rumours of IPO, contrary to many speculations. ‘At some point, yes, we will go public, but that’s not even close to the top of the list of the...

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Binance Freezes WEX Assets amid Suspicions of Money Laundering

Binance Freezes WEX Assets amid Suspicions of Money Laundering

Reading Time: 1 minuteControversial exchange WEX.nz had multiple accounts that received 93,000 ETH shut down by Binance after claims of money laundering. ‘We will do what we can’, Binance CEO Changpeng Zhao wrote in a tweet. The infamous BTC-e’s heir, Russian-led WEX began exhibiting shady behaviour almost immediately after its launch when users began to have difficulties with...

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Canadian crypto exchange hacked, or is it an exit scam?

Canadian crypto exchange hacked, or is it an exit scam?

Reading Time: 1 minuteFollowing a reported hacking of Canadian-based crypto exchange, MapleChange, the exchange closed, and then reopened their social media accounts. News of both the hack and the exchange shutting down their social media fostered rumors that the exchange was enacting an exit scam.  Since shutting down their social media accounts, Maple Exchange’s Twitter account has come...

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Korean experts are pushing their authorities to the legalisation of ICOs on their local market 

Korean experts are pushing their authorities to the legalisation of ICOs on their local market 

Reading Time: 1 minuteLast September Korean government initiated a ban on the investments in ICOs, considering it’s a fraudulent and speculative market.   Though the authorities, i.e. the Office for Government Policy Coordination (OGPC) and Financial Services Commission (FSC) stay opposed to ICOs, the experts and the politicians start speaking loud in it’s favour. 

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