In collaboration with three Japanese banks, GU Technologies has initiated a proof-of-concept to develop a stablecoin-issuing system for financial institutions. The project will be deployed on the Japan Open Chain, an Ethereum-compatible public blockchain which is fully compliant with Japanese law.
Of the two biggest US crypto banks prior to last November’s meltdown at FTX, Silvergate is reportedly now negotiating a route with the FDIC to avoid imminent closure, while rival Signature has made moves to significantly cut back on its crypto exposure. What exactly has gone wrong?
Deutsche Bank, has successfully completed its proof of concept known as Project DAMA, with technical partner Memento Blockchain. The project aims to show how a permissioned platform can provide a one-stop-shop solution to facilitate digital fund management and investment servicing.
With a certain sense of inevitability, the current explosion of hype around all things AI, initially spurred by the ever-growing buzz around the ChatGPT platform, has started to attract interest from some rather less-welcome parties.
Although the European Central Bank is still undertaking its investigative stages concerning a potential Euro-Zone CBDC, it already seems to be tying itself in knots trying to limit potential disruption to the status quo as far as commercial banks are concerned.
The securities provider, which has over €360 billion in assets under management, last week announced a partnership with Swiss crypto custody firm, METACO, to offer digital assets products to both institutional and retail clients.
LevelField Financial, a U.S. digital assets platform aiming to unite crypto services and traditional banking, took one step closer to achieving that goal by announcing its acquisition of FDIC-insured Illinois state-chartered Burling Bank.
