Major crypto-currency exchange Binance recently shocked financial markets with the news that it suffered a “large-scale security breach” on May 7 that led to the theft of 7,000 bitcoins (BTC), valued at $40 million in total. The security breach comes as market interest in crypto-currency trading appears to be hitting its stride, according to a… Read More >>
CFTC Wary of Futures Markets’ Embrace of Bitcoin-based Instruments
Bitcoins, the digital “crypto” currency that in 2017 became one of the world’s fastest growing assets, reaching a high of more than $11,000, an increase of more than 900 percent for the calendar year, may still have its detractors, who compare its sudden popularity to Dutch Tulip Mania in the 17th century, or to the… Read More >>
BNY, Deutsche Bank, ICAP Back UBS Digital Cash Push
BNY Mellon, Deutsche Bank, ICAP and Santander are throwing their support behind the Utility Settlement Coin (USC) concept from UBS and newcomer Clearmatics Technologies that could lead to digital cash-based payment and settlement operations that exploit distributed ledger technology (DLT). The USC effort is intended to result in “an asset-backed digital cash instrument implemented on… Read More >>
Mizuho and Cognizant Launch ‘Record-Keeping’ Blockchain Project
Cognizant, a Teaneck, N.J.-based provider of information technology, consulting, and business-process outsourcing services, reports a strategic agreement with Mizuho Financial Group, based in Japan, to develop a “blockchain solution for secure record-keeping of documents among Mizuho Financial Group companies around the world.” Under the agreement, Cognizant will “design and develop a blockchain solution for Mizuho’s… Read More >>
Digital Asset Lands A-List Backers and $50M in Funding
Digital Asset Holdings, LLC, a New York City-based developer of distributed-ledger technology for the financial services industry, reports that it has “raised more than $50 million in funding” from several prominent financial industry players. The company’s new investors are: ABN AMRO, Accenture, ASX Ltd., BNP Paribas, Broadridge Financial Solutions, Inc., Citi, CME Ventures, Deutsche Börse… Read More >>
Ops Gets on the Blockchain Revolution Bus
Bitcoin, a so-called crypto-currency, may fade before anyone really understands what it was or how it could actually have prevailed in financial services. However, out of Bitcoin’s ashes has risen the humbly named Blockchain technology. The distributed ledger technology that has been propping up Bitcoin has come to the attention of major industry players. This… Read More >>
FIS CEO: Get Ready for ‘Massive Disruption’
(Editor’s note: This is the second part (click here for part I) of a FTF News Q&A with Gary Norcross, president and CEO of banking and payments technology provider Fidelity National Information Services (FIS), which is acquiring financial products and services giant SunGard for $9.1 billion. In this installment, Norcross addresses the importance of disruptive… Read More >>
