One of the largest bank in terms of total assets in Japan, the Sumitomo Mitsui Banking Corporation (SMBC) will be launching blockchain-powered trade finance services. The managing director of Marco Polo, Danie Cotti explained, “Today, we have the resources and technology to transform the way banks serve their trade finance customers and enable easier access to credit while minimizing risk and increasing transparency.”
An API platform for the development of FinTech, Sila has launched a Beta program with vision to become a connecting bridge of Ethereum blockchain and the existing payment system. The CEO of Sila, Shamir Kakal commented, “Blockchain has provided a revolutionary method to transfer value, but the industry still needs to connect to existing banking facilities to move forward.”
Blackmoon Financial Group (a FinTech & Blockchain Firm) has partnered with Daneel.io, Plato Technologies Inc., Dr. Werner & Partner, Jarvis International Ltd., Rivver and FintechSauce to create a showcase of investable Exchange Traded Indexes (ETxs) that track the performance of a multitude of products, services and sentiment indexes that these firms offer.
A popular messaging app in Asia Line plans to enter into digital payment and other fintech services. Jungho Shin, the founder of Line, said that, “My biggest priority is to ensure that the company is in a constant position to deliver innovation. As many cases in the US and Europe show, the fear is that we will become big and sluggish.”
As an effort in gaining more information and understanding regarding the emerging technology of Blockchain, SEC has shared that they’re going to organized a public forum on fintech and blockchain. The public forum will be organized on this coming May 2019 at the SEC’s Washington D.C headquarters and will become the second one of its kind.
A consultation paper that targeted the FinTech community, market participants, and crypto investors have been published by two Canadian financial authorities. The Canadian Securities Administrators (CSA) then explained, “We have heard directly from these platform operators, that a regulatory framework is welcomed, as they seek to build consumer confidence and expand their businesses across Canada and globally.”
A collaboration made between Token.io that is also the fintech stellar start-up with a global payment provider, Mastercard with the aim in building the “open banking hub”.The Senior VP of Mastercard, Jim Wadsworth expressed his optimism towards open banking by describing that it has the potential to revolutionise how we all interact with financial services.
Vienna-based fintech start-up, Transpaygo to use xRapid (XRP-blockchain) for Mexico and Philippines transfer payment. Its Founder, Mirko Kinigadner explained, “Thanks to Ripple, we can tap the promising markets of Mexico and the Philippines in a whole new way for money transfer. In this cooperation, we see the future: even safer and cheaper money transfers abroad. And in a few minutes.”
tZero, a company is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of FinTech based on blockchain has appointed Alan Konevsky as its chief legal officer (CLO). Konevsky, who was most recently a senior vice president at Mastercard, will oversee tZERO’s expanding legal, regulatory, public policy and compliance functions.