According to Coindesk, Bank of America has filed a patent for a shared network of ATMs that utilize blockchain technology, potentially allowing the bank to accelerate the transaction speeds of cash withdrawals, deposits and gift registries.
The Financial Times reports that BBVA and two partners completed the first successful syndicated loan using blockchain technology.
NatWest is integrating a new blockchain-based platform that aims to dramatically transform and streamline the global syndicated loans market. The new platform is set to go live from November 2018.
PNC Treasury Management became a member of RippleNet, which will allow PNC’s commercial clients to receive real-time cross border payments via blockchain.
Like personal computers, smartphones and the internet, cryptocurrencies are here to stay. For the secured lender, the blockchain technology that protects the privacy of the borrower can present an obstacle to securing collateral and receiving repayment. Alan Rosenberg provides a detailed explanation of the technology and a guide for lenders to protect themselves in cybercurrency transactions.
According to a KPMG report, investment in U.S.-based fintech companies surged to $14.2 billion across 427 deals during the first half of 2018.
The SEC charged T.J. Jesky and Mark F. Stefano with profiting from illegal sales of stock of a company claiming to have a blockchain-related business. The pair agreed to return approximately $1.4 million of allegedly ill-gotten gains and pay $188,682 in penalties.
Repsol and BBVA completed the first transaction involving a revolving credit facility using distributed ledger technology as part of a pioneering pilot project in corporate finance for the industrial sector.
HSBC and ING Bank successfully executed a live trade finance transaction for international food and agriculture conglomerate Cargill using R3’s Corda scalable blockchain platform.
CFO reported that banks are increasing their use of blockchain technology, in part, because it enables them to more efficiently manage foreign exchange transactions.