Fintech

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.”

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.

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.”