Visa Incubator to Test Blockchain for Interbank Payments
Visa’s London-based innovation lab has announced its latest blockchain trial will focus on interbank payments. Visa Europe Collab revealed today it has partnered with Toronto-based BTL Group to explore how the startup’s interbank settlement system can leverage blockchain and smart contracts to streamline domestic and cross-border payments between banks. In statements, Hendrik Kleinsmiede, co-founder of Visa Europe Collab, said the two partners are now inviting European banks to participate in trials that would see them using the emerging technology for live payments to better explore its....
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American multinational financial services corporation, Visa, is inviting lenders to test its interbank transfer system that sends money over a blockchain. Visa’s New Blockchain Project. Hendrik Kleinsmiede, co-founder of Visa’s innovation hub, Visa Europe Collab, said in the announcement that the project is designed to “reduce the friction of domestic....
Visa Europe has announced it is working on a proof-of-concept for a blockchain-based remittance service. Created through Visa Europe Collab, the trade organization's innovation initiative, the proof-of-concept is being built in collaboration with Epiphyte, an enterprise blockchain services firm that recently graduated from San Mateo incubator Boost VC. Though details on the proof-of-concept were limited, the companies said they are working in a "controlled test environment" that is seeking to simulate real-world remittance transactions. A press release by Visa Europe Collab indicated the....
VISA and blockchain-technology partner BTL will invite a select group of European banks to participate in a blockchain project that will see inter-bank payments made via transfers over the ledger. Hot on the heels of the likes of R3, Visa will experiment its own blockchain-based payments platform with a select group of banks who will send money over a blockchain. The proof-of-concept project will use Interbit, a cross-border blockchain remittance and settlement platform developed by industry startup BTL. Launched earlier this year, the Interbit platform is seen by Visa as the solution to....
Bank of Canada is seriously looking into blockchain technology. At the same time, the Canadian payment ecosystem is expected to see some changes in the coming months. Speaking of alternative currency and technology associated with it, the bank of Canada is looking into the use of blockchain technology seriously. The new came out recently after the Senior Deputy Governor of the Bank of Canada, Carolyn Wilkins mentioned that the central bank will be making use of the distributed ledger technology to test interbank payments. During the same session, Wilkins also made it clear that the country....
With the launch of the “Global Payments Steering Group”, blockchain startup Ripple has revealed details of a new interbank group that will create the first “rules-based blockchain payments network” for global money transfers. In an announcement today, blockchain and Fintech startup Ripple has revealed that banks are getting closer toward uniform policies and governance for the transfer of money over blockchain. The Global Payments Steering Group (GPSG) sees six founding members and will be the first interbank group for global payments based on blockchain technology. Its founding numbers....