Remittance fintech app Minit Money launches money sending to Zambia

Blockchain remittance app Minit Money has opened its first Southern Africa remittance corridor, enabling Zambians living in South Africa to easily and affordably send money home.

Minit Money co-founder and CEO, Angus Brown, said: “We’re delighted to announce the launch of Minit Money’s ability to serve the Zambian diaspora community in South Africa. We have experienced significant growth in our existing corridors of Ghana, Nigeria, Uganda, Cameroon, Senegal, Benin, Ivory...

6 November 2023 | Blockchain

Blockchain Expo Europe: Unearthing the catalysts for institutional crypto adoption

In a fireside chat at Blockchain Expo Europe, James Morek, Co-Head of Institutional Sales EMEA & APAC at Coinbase, and Nick Philpott, CEO of Zodia Markets, shared their insights on what is needed for institutional crypto adoption.

The conversation delved into critical topics such as regulatory collaboration, the role of decentralised technology, and the impact of blockchain and stablecoins on financial transactions.

Regulatory collaboration and frameworks

The...

26 September 2023 | Banking

LBank launches global first unlimited crypto credit card

LBank, a cryptocurrency exchange, is soon to launch what it says is the world’s first unlimited cryptocurrency credit card, aiming to break down the barriers of cryptocurrency payments.

The card, available in both virtual and physical forms, allows users to make any consumer payments directly with cryptocurrency through LBank’s credit, and also supports local cash withdrawals. 

LBank’s nearly 9 million users are expected to begin using this card in Q3 2023,...

5 July 2023 | Blockchain

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

Mastercard launches Mastercard Crypto Credential to boost trust in blockchain

A Mastercard and Visa card in a wallet.

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

SWIFT progresses CBDC project after strong pilot results

Bank

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...

10 March 2023 | Banking

Moscow Credit Bank issues on-chain guarantee in Chinese yuan

Chinese Yuan

Moscow Credit Bank, a commercial Russian bank, has issued the country’s first blockchain-based guarantee to use Chinese yuan as currency.

The transaction was made using Russia’s national blockchain network, Masterchain, which is built to transfer digital assets between the country’s institutions. The guarantee was for more than 100 million yuan (£12m).

In a statement from Moscow Credit Bank (MCB), it said: The advantage of a digital bank guarantee is that the...

3 March 2023 | Banking

National Australia Bank to launch 1:1 AUD stablecoin

Australian Flag

National Australia Bank (NAB) plans to launch an Australian dollar-pegged stablecoin on the Ethereum network in mid-2023.

The move would make National Australia Bank the country's second ‘Big 4’ bank to launch such a coin, after rival bank ANZ minted 30 million tokens of its A$DC stablecoin in March 2022.

Much like ANZ’s coin, NAB plans to use its AUDN stablecoin to streamline cross-border payments and support carbon credit trading, according to a report from...

19 January 2023 | Banking

Italy selects Algorand for national banking guarantees platform

Italy

Italy has chosen Layer-1 blockchain Algorand to support the development of an “innovative digital guarantees” platform for the country’s banking and insurance sectors.

With a launch date pegged for early 2023, this will be the first time a European Union member state has used blockchain technology for banking and insurance guarantees, according to an Algorand announcement.

Bank or insurance guarantees are when an institution that gives out loans promises to cover...

14 December 2022 | Banking

NatWest Markets establishes new blockchain team

Teamwork

NatWest has created a new digital team within its capital markets business to upscale its blockchain strategy.

Leading the team will be Chris Agathangelou, who was recently appointed as NatWest’s head of digital capital markets.

The team will focus on delivering credit and rates products to issuers and investors through digital channels and currencies that are underpinned by distributed ledger technology.

With financial markets increasingly embracing...

17 January 2022 | Banking