Cointelegraph reported about a pilot forex forward transaction using a blockchain. Commerzbank, a German bank and ThyssenKrupp teamed up to perform this demonstration. The transaction value was placed at €500,000. Live Trader, an FX trading platform operated by Commerzbank managed the transaction after ThyssenKrupp initiated it on Wednesday. A…
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Banks
CFO of well-known Australian bank leaves his mainstay for cryptocurrency
The CFO of a prominent Australian bank has announced that he is leaving the financial institution to take a job in the field of cryptocurrency. Rob Jesudason tendered his immediate resignation as CFO of Commonwealth Bank of Australia on May 14, 2018. Jesudason has been tapped to become the CFO…
The National Bank of Ukraine Addresses Cryptocurrency
In August 2017, the National Bank of Ukraine made an official statement on cryptocurrencies. Ukraine's central bank pointed out that only the country's official currency could be used for payments. Then the bank mulled creating a digital version of Ukraine's official currency, the hryvnia, in January 2018. Like most countries,…
A large cryptocurrency account was closed in 2017. Here's why
Nordea Bank closed the account of Bitmynt AS toward the end of 2017. Bitmynt AS is a Norwegian-based cryptocurrency exchange with a fairly large user base. In December 2017, its founder, Sturle Sunde, sued Nordea Bank for the illegal closure of its account. Months went by as the case developed,…
Venture Capitalists Have a Growing Interest in Blockchain Technology
Blockchain technology has evolved during the first two decades of the 21st century, and startups in the field have recently garnered attention from the venture capital units of international commercial enterprises. Comcast Ventures is one such unit. The outfit's Managing Director, Gil Beyda, relayed his company's bullish Bitcoin and blockchain…
A perspective on ICO's and cryptocurrencies.
The backlash against ICOs for new cryptocurrencies has taken another dramatic turn. Capital Group has amended its policies to prohibit its associates and their family members from investing in ICOs and IPOs. The new policy from one of the oldest investment groups in the United States took effect on April…