PYMNTS

OCTOBER 17, 2019

In today’s payments news, China has allowed PayPal to operate in the country with its purchase of a majority stake in GoPay. Also, Mastercard has outlined its intentions with blockchain following its high-profile Libra Association exit. Mastercard Outlines Blockchain Principles After Leaving Libra.

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PYMNTS

MARCH 20, 2019

The idea that blockchain can be divorced from the crypto realm and used to trade and store assets is quickly gaining, well, currency. Blockchain for Trading . Trading protocols that operate across the blockchain, he said, are non-custodial, which means “sovereignty over your assets.

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AUGUST 23, 2019

Blockchain firm Pundi X has announced that Venezuela’s largest chain of department stores will implement the XPOS, the blockchain-powered point-of-sale device, across its 49 stores around the country. It is the first compliance alerts solution available across 15 cryptocurrencies.

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PYMNTS

JANUARY 18, 2019

Unlike B2C eCommerce, B2B transactions require heightened visibility within supply chains — the ability to move large sums of money at set times, generation and management of invoices, purchase orders, payment contracts and more. Betting On Blockchain. The concept of a blockchain-managed digital identity is not new.

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PYMNTS

FEBRUARY 22, 2019

Office of the Comptroller of the Currency (OCC), over deficiencies that the OCC identified in the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The OCC identified the deficiencies in the bank’s branches in New York, Los Angeles and Chicago. MUFG Bank said the OCC recognized improvements the bank made to its U.S.

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PYMNTS

JANUARY 6, 2019

The China Banking Association (CBA) has announced the launch of a blockchain-based platform for trade finance. In other news, Vaishali Mehta, who worked as a senior compliance manager at Coinbase, has left the company to become the head of compliance for TrustToken , which produces the TrueUSD stablecoin.

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PYMNTS

MARCH 11, 2019

CULedger , a credit union, has inked a partnership with IBM to create blockchain services geared toward credit unions. According to a report in Fintech Futures , the idea behind the project is to use permission-based blockchain technology so credit unions can reach more members that don’t have access to financial services.

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PYMNTS

JUNE 29, 2018

Through a four-day test of a know-your-customer (KYC) compliance system, a group of 39 participants were able to make 300 transactions in 19 countries with an app from Synechron built on R3’s Corda blockchain platform. Rutter said in a statement. In addition, customers can either approve or deny bank access to their data.

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PYMNTS

JUNE 1, 2017

Cross-border B2B payments company PayCommerce is strengthening its compliance position through a new partnership with Dow Jones. PayCommerce said Wednesday (May 31) that it is working with Dow Jones Risk & Compliance to add enhanced screening and compliance features to its global corporate payments offering.

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PYMNTS

FEBRUARY 14, 2018

Spending on blockchain technologies will ramp up to $9.2 Its latest Worldwide Semiannual Blockchain Spending Guide also calculated a compounded annual growth rate (CAGR) of blockchain spend of 81.2 2018 will be a crucial stage for enterprises as they make a huge leap from proof-of-concept projects to full blockchain deployments.

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PYMNTS

JANUARY 7, 2020

China’s Guangdong province has launched a blockchain financing platform for small and medium-sized businesses, backed by OneConnect , a Chinese FinTech recently listed on the New York Stock Exchange, according to a press release. . In other crypto news , cryptocurrency tax automation software TaxBit has raised $5 million in funding.

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OCTOBER 1, 2018

In the age of blockchain, all manner of physical assets are making the leap to bits and bytes. Blockchain can track transactions of all sorts and create a connected record — and that blockchain is rapidly cleaving from the cryptocurrency clamor to which it was once inextricably linked. percent pure.

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PYMNTS

OCTOBER 2, 2017

The company announced news on Friday (Sept. The solution is developed to provide enterprises with artificial intelligence (AI) and blockchain technology to reduce the cost and manual processes of global trading, including international payments and securities settlements.

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JULY 5, 2018

It seems that blockchain may never leave the lab and enter the real world. And, indeed, this week’s Blockchain Tracker continues its coverage of ongoing tests and trails of blockchain solutions. Take a look at the ongoing tests — and the projects that made it out of the lab — in the breakdown below. Testing Continues.

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PYMNTS

JANUARY 15, 2018

Chinese companies are flocking to blockchain and cryptocurrency technology despite regulators’ efforts to contain risks, reports in Reuters said Friday (Jan. The publication highlighted stock rallies amongst companies that recently disclosed their involvement in the blockchain space.

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PYMNTS

MARCH 6, 2018

Payments and commerce so often boil down to giving consumers what they want, and the same is looking to be true for blockchain , the popular distributed ledger technology underlying cryptocurrencies such as bitcoin, Ethereum and Litecoin. Industry giants are starting to think about jumping on the blockchain bandwagon.

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PYMNTS

SEPTEMBER 24, 2020

Treasury management technology provider BELLIN has revealed it is the first treasury management solution provider to secure the Compatible Application SWIFT gpi for Corporates label. As FIs dabble in blockchain-based payment technologies, financial services technology firm Apifiny is also seeking to drive adoption of blockchain.

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PYMNTS

OCTOBER 27, 2016

Blockchain technology could have major implications for B2B payments, and some of the top use cases for distributed ledger include cross-border payments and smart contracts. According to the firm, it offers businesses an alternative to the notaries and auditors that generally manage payment certification. ” . ” .”

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DECEMBER 26, 2019

Chinese technology company Tencent has announced it’s going to start researching cryptocurrency and its implications for an ongoing project in blockchain, according to reports. The purpose is to introduce a brand new program for users that’s geared toward the diamond industry. The apps must comply by Dec.

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MARCH 3, 2020

The blockchain for the Marshallese sovereign (SOV) digital currency will be developed with Algorand technology, according to an announcement. Algorand created a permissionless, open source and pure proof-of-stake blockchain technology. The supply of SOV will be set to increase at 4 percent yearly to stop inflation from occurring.

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PYMNTS

MARCH 16, 2018

Even at its smoothest, supply chain management is never the easiest of endeavors. Add to the equation the growing burdens of regulatory compliance stretching across anti-money laundering and know your customer efforts … and record-keeping can become daunting even with the best of efforts.

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OCTOBER 11, 2018

In news that may be separated from the vagaries of cryptocurrency trading, Banco Santander said this week that it will use Ripple’s ledger, bringing payments across the bank’s OnePay FX platform. In terms of the blockchain, there are 14 nodes across that platform. In just over a week, the price has slipped 20 percent.

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PYMNTS

MAY 3, 2019

Blockchain payments company Pundi X has announced plans to launch Open Platform, a tool to enable developers and businesses to create blockchain solutions. The firm’s compliance team will review all custom tokens designed on the platform. “There will be a review process to list the digital assets.

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PYMNTS

SEPTEMBER 5, 2019

Whether it be facilitating faster payments to suppliers across the border, adopting blockchain-powered trade financing, or wielding API integrations or smart contracts to digitize the mounds of paper involved in global trade, there is no shortage of opportunity for technology to disrupt this industry.

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MARCH 26, 2018

This can lead to the administrative costs associated with vendor management exceeding the cost of the vendor’s services. “It Candex brings the speed and ease of consumer payment apps to large businesses, leveraging a private blockchain to ensure compliance and massively streamline financial system records.”.

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DECEMBER 12, 2019

JPMorgan Chase has been using artificial intelligence (AI) and machine learning to process expense reports and check them for compliance, according to Bloomberg. We basically have eliminated manager approvals,” Beer said. By using AI, the company is “taking some bureaucracy out of our managers’ hands.”.

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Insights on Business

SEPTEMBER 17, 2016

Perhaps nowhere does this saying apply as well as it does to the growing interest and adoption of blockchain technology in the global banking industry. I’m as sure as I can be that blockchain represents an important new technology. You want to be part of the discussion as blockchain standards are set for the banking industry.

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SEPTEMBER 5, 2019

Integrated cloud and platform services provider Oracle is collaborating with Trinamix, a member of its PartnerNetwork, to develop enterprise supply chain management apps. 4), noting that their joint initiative will lead to the latest release of Oracle Supply Chain Management Cloud.

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BankInovation

NOVEMBER 24, 2021

Banks should look to expand their product portfolios and incorporate more services such as payments while embracing new technology, including blockchain, to increase customer retention.

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OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. However, Swiss officials recently took steps to get ahead of the regulatory uncertainty surrounding the world of blockchain, focusing on a particularly large hurdle for companies in the industry.

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PYMNTS

OCTOBER 31, 2018

A press release this week said the firm landed $5 million in Seed funding from Craft Ventures , which will be used to bolster WAYV’s supply chain management and logistics offerings, the company said. WAYV’s marketplace streamlines fulfillment, integrates compliance with payment terms and provides real-time product tracking.

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PYMNTS

APRIL 26, 2019

CBD isolate extractor Mile High Labs is targeting friction in the CBD supply chain through the launch of supply chain management solutions offered by Chain.io, the company said in an announcement on Thursday (April 25). CEO Brian Glick in a statement.

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JULY 12, 2019

“As required of all MSBs, persons and entities dealing in virtual currencies would need to fulfill all obligations, including implementing a full compliance program and registering with FINTRAC ,” the government said, according to Hard Fork.

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SEPTEMBER 12, 2019

The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. were equally split between regulatory compliance (69 percent) and reputational risk (69 percent), though reputation was a larger motivation among larger companies. Cloud-based KYC activities were among the new technologies most used by U.S.

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PYMNTS

JANUARY 23, 2019

22) a five-year agreement with blockchain company R3 allowing the financial institution to access an unlimited number of licenses from the Corda Enterprise platform. The agreement signals a significant push within blockchain for ING. ING Bank announced Tuesday (Jan. In another statement, R3 CEO David E.

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PYMNTS

AUGUST 7, 2017

The company announced news on Friday (Aug. This partnership will focus on Traydstream’s trade compliance offering to help businesses tackle the management of digital information. The firm deploys machine learning, artificial intelligence and blockchain to streamline trade document management.

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PYMNTS

SEPTEMBER 13, 2018

As FinTechs step into the cross-border payments and foreign exchange (FX) management space, there are more solutions available than ever before for corporates seeking to gain speed and security in payments – and manage risk along the way. Adopting real-time business processes has led them to embrace real-time FX management.

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