Blockchain Banking | Blockchain Technology News

Web 3.0, the metaverse and NFTs are capturing UK consumer interest

Toluna, a global insights technology and panel provider, today revealed key UK insights from its worldwide consumer study, 'A new age of the internet: Web3, the metaverse, and NFTs'.

With blockchain technology ushering in a new digital era in the form of Web 3.0, the research study explores consumer perceptions of emerging Web 3.0 concepts – such as non-fungible tokens (NFTs) and the metaverse. Toluna’s research aims to decipher how consumers view and interact with these...

5 September 2023 | Banking

Coinbase’s CEO shares his top 10 most exciting Web3 ideas

Coinbase co-founder and CEO Brian Armstrong is basking in the glow of a successful week as the value of his company's stocks soared, riding on the rising hopes for a Bitcoin spot Exchange-Traded Fund (ETF).

Armstrong kept the good vibes going by sharing the 10 ideas he’s “most excited about” in the Web3 space.

"We're actively developing numerous projects at Coinbase, but considering the vast landscape, it's not possible to tackle everything. Therefore, I thought...

31 August 2023 | Altcoins

TSB and FinTech Scotland open applications for annual Innovation Labs programme

TSB is taking applications for fintechs to participate in its third annual TSB Innovation Labs programme – as the bank and Fintech Scotland encourage a new round of fintech collaboration.

Under the programme, winning fintechs will officially partner with TSB to offer innovative services and money-saving solutions to customers, as the Bank expands its fintech partnership programme.

The scheme also helps boost the UK’s fintech sector – as between...

15 August 2023 | Banking

Technology used in Bank of England’s CBDC project now available to any business

Quant, the blockchain for finance pioneer, has unveiled Overledger Platform: the infrastructure used in Project Rosalind - the Bank of England and Bank for International Settlements’ retail CBDC project – available to all via software-as-a-service.

Overledger Platform makes the same enterprise-grade technology, the same interoperability core, the same secure smart contracts and the same issuance, secure bridging and atomic settlement functionality that have underpinned...

28 June 2023 | Banking

Fujitsu launches blockchain collaboration tech to build Web3 services

Fujitsu has confirmed the successful completion of a year-long pilot project which began in January 2022 for its proprietary ConnectionChain blockchain technology with the Asian Development Bank, blockchain vendor ConsenSys Software, R3 and SORAMITSU, demonstrating its effectiveness in streamlining and enhancing the safety of cross-border transactions of financial securities.

The trials integrated ConnectionChain to realise a system that can connect multiple blockchains to...

19 June 2023 | Banking

Blockchain Expo: The opportunities of Web3

During a session at this year’s Blockchain Expo, we heard from IDC Research Director Phillip Silitschanu about the opportunities of Web3 and the journey that lies ahead.

Silischanu shared his insights, based on vast experience, on the applicability of blockchain services and the potential of Web3. He discussed the opportunities and challenges presented by these technologies and their impact on various sectors.

Web2 vs Web3

Web2, also known as the social web, marked...

18 May 2023 | Banking

Deloitte and BNP Paribas join consortium in creating blockchain network for financial market

Digital Asset and leading market participants have unveiled plans to launch the Canton Network, the industry’s first privacy-enabled interoperable blockchain network designed for institutional assets and built to responsibly unlock the potential of synchronised financial markets.

Canton Network participants include 3Homes, ASX, BNP Paribas, Broadridge, Capgemini, Cboe Global Markets, Cumberland, Deloitte, Deutsche Börse Group, Digital Asset, The Digital Dollar Project, DRW,...

11 May 2023 | Banking

Mastercard launches Mastercard Crypto Credential to boost trust in blockchain

Mastercard has introduced Mastercard Crypto Credential, a set of common standards and infrastructure that will help verify interactions among consumers and businesses using blockchain networks.

Mastercard Crypto Credential aims to provide a foundation for financial institutions, governments, brands, and crypto players, ensuring that those interested in interacting across web3 environments are meeting defined standards for the types of activities they’d like to...

2 May 2023 | Banking

HSBC acquires Silicon Valley Bank’s UK arm in £1 rescue deal

Global banking firm HSBC is acquiring the UK branch of the recently collapsed Silicon Valley Bank, SVB UK.

The company announced on 13 March that its subsidiary, HSBC UK Bank, would be acquiring SVB UK for £1.

HSBC said in its announcement that SVB UK had outstanding loans of approximately £5.5 billion and held deposits of £6.7 billion as recently as 10 March.

In the financial year ending 31 December 2022, SVB UK recorded profits of £88 million before tax,...

13 March 2023 | Banking

SWIFT progresses CBDC project after strong pilot results

Global banking system SWIFT is moving to the next phase of its central bank digital currency (CBDC) testing after positive results in the pilot stages.

The interbank network said its project to connect different nations’ CBDCs with one another offers “clear potential and value” in a statement on 9 March.

Lewis Sun, global head of domestic and emerging payments at HSBC, said: “While interest in CBDCs is growing, so is the risk of fragmentation as a widening range...