Financial cryptocurrency consortium R3 Blockchain has expanded with the addition of the National Bank Of Egypt in the Middle East. The NBE joins well over two hundred financial service firms, central banks, technology companies trade associations and regulators in the global blockchain initiative. “We can better assess the value this technology...
Bitcoin rose approximately 5% on news of a potential rescue for hacked cryptocurrency exchange Coincheck by financial services company Monex. Tokyo-based Coincheck suffered when hackers stole over US$520 million worth of NEM cryptocurrency from in January, the largest-ever breach in the space. Some suggested that North Korea might have been...
The world’s 10th largest banking group Santander has announced plans to launch international payments using blockchain technology from cryptocurrency firm Ripple. The multinational banking group plans to launch a new app this spring and aims to be the first large retail bank “to carry out cross-border payments at scale with blockchain technology”...
Spanish banking giant BBVA has completed a series of international money transfer tests using the cryptocurrency Ripple and reports "significant progress" towards wider implementation. BBVA completed the first real-life implementation of an international money transfer using Ripple’s new Distributed Ledger Technology (DLT). The transaction, running on BBVA infrastructures with real money,...
Authorities in Venezuela have confirmed that they will use NEM blockchain for a new planned cryptocurrency, backed by the state.  The proposed Petro currency will use free and open blockchain technology, created by the NEM Foundation. "We have signed two fundamental agreements for El Petro to circulate in the...
Rising oil production worldwide may further outstrip demand in 2018, according to the latest figures from the International Energy Agency. The global economy is slowly recovering from historically high imbalances thanks to efforts by OPEC to limit production however the IEA highlighted that this trend may not continue for long. ...
Bank of China is reportedly making plans to implement cryptocurrency XRP, developed by FinTech firm Ripple, for international payments. The state-owned bank is of China's "Big Four" state-owned commercial banks and fifth largest in the world by total assets and if implemented, the unconfirmed plans would signal strong support for...
Infrastructure giant Carillion has seen its share price hit new lows as the UK government has admitted that it has put contingency plans in place for the contractor’s collapse. Carillion shares fell below £0.13, bringing the firm market cap to a measly £55.8 million on reports that Ernst & Young...
Sustained selling in bond markets around the world continued today as investors watched Asian central banks for signs of recovery. A first round of sell-offs were triggered by Bank of Japan and many investors now see a downturn for the long-running bond bull market. U.S. 10-year Treasury yields reached almost 2.6%, the highest...
Mass rail strikes across five major UK train companies are set to hit workers travelling to and from the City of London this week. Employees of Southern, South Western Railway (SWR), Arriva Rail North (Northern), Merseyrail and Greater Anglia are leading the strike action over pay and conditions. Members of the Rail,...