Citi, Nordea Select Bitcoin Compliance Firm for Accelerators
As global financial institutions become more interested in bitcoin and blockchain technology, some are beginning to invest and work with startups they believe will empower them with the tools to one day engage with the industry. Today, this means partnerships like that between UK banking giant Barclays and bitcoin compliance startup Chainalysis. The two companies announced in October that Barclays would work with Chainalysis, a graduate of its New York-based FinTech accelerator, to allow its financial crimes division to better understand the technology. Now, there are signs that this....
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Financial innovation firm R3 continues to draw powerful allies in its blockchain consortium; the latest ones to join it are three banks namely Mizuho Financial Group, Nordea and UniCredit. Blockchain is the technology behind virtual currency Bitcoin and it continues to draw powerful admirers. All have joined this consortium to design and apply the distributed ledger technology, blockchain, for the global financial markets. Interest in the initiative amongst the international banking community has continued to grow at a rapid pace ever since its launch with the backing ofnine financial....
Distributed ledger startup R3CEV has gained an additional three banking partners, raising the number of total banks involved to 25. Japan's Mizuho Bank, Nordea Bank - which operates in Northern Europe - and Italian bank UniCredit join the likes of Citi, HSBC, Barclays and Goldman Sachs in R3CEV's blockchain project which sets out to spread the use of the technology across the world's financial markets. David Rutter, R3CEV CEO, said in a statement:
The United Kingdom, is often one of the friendlier places when it comes to Bitcoin legality, especially when compared to US regulation, such as the New York BitLicense. Citi, a global banking and financial corporation, recommended that the UK take its acceptance one step further with the creation of a UK cryptocurrency. In a document submitted by Citi to the British government, Citi noted the risks involved with digital currency. However, Citi also mentioned the untapped possibilities that digital currencies like Bitcoin can offer:
Nordea, a financial services group in the Nordic and Baltic region, continues its hunt for AI and blockchain breakthroughs. Later this year it is launching its Fintech accelerator in Stockholm and Helsinki. 200 startups applied to join the 3-month program that will be led by Nordea and its partners, including IBM, Tata Consultancy Services and Nestholma Venture Accelerator. Nordea’s accelerator program goal. The main goal of Nordea’s accelerator program is to hunt for developments in both Artificial Intelligence and Blockchain technologies. Presently, only 35 startups have made it through....