Santander Vies to Become First Bank to Issue Cash on Blockchain
Spanish banking giant Santander is working on a project that explores how it could digitize customer cash using the public ethereum blockchain. Revealed today during a panel talk at Devcon2 by Ether.camp founder and ethereum Java client developer Roman Mandeleil, the news was confirmed by representatives of Santander. In statements, Santander said its goal is to open up its bank-issued funds to a community of innovators as a way of tapping additional efficiencies. Given the recent deluge of proofs-of-concepts and consortium announcements, Santander's move to potentially issue digital cash....
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Santander, a part of the Spanish Santander Group is now using the Ethereum Blockchain to develop a public digital cash system using the Ethereum Blockchain. Santander officials confirmed this project which will make the bank the first to use an existing public Blockchain for issuing digital currency. The project was announced by Ethereum developer and founder of Ether.camp, Roman Mandeleil at Devcon-2 during a panel talk on Sep 20. Santander’s goal is to issue digital bank notes to the Blockchain community to encourage development and use of the token. This digital cash should be....
Banco Santander UK has made available to its staff a mobile application which uses Blockchain to transfer money. In the battle among bankers to implement blockchain solutions to cut costs, has Banco Santander taken the lead? Ed Metzger, head of innovation technology and operations at Santander U.K., says to Bloomberg: “It’s the first time a U.K. bank has sent payments of this type via Ripple and launched it as a commercial service. Many people are doing lab style experiments, the key difference here is about getting real people to send real money for real purposes. I just paid my wife, who....
After releasing a paper covering 20 to 25 uses of blockchain technology, Santander is reportedly ready to invest in a cryptocurrency startup to sustain their initiatives. Santander is the tenth largest bank in the world, according to a list by Forbes. The bank has come up with Santander InnoVentures, which is the banking giant's $100 million fintech investment fund. This was launched last year and has made three investments so far. Blockchain Technology Startups. "We're very excited about distributed ledgers and blockchain technology. They really have the potential to disrupt many of the....
Santander Bank in the U.K. has become the latest high street bank in the country to block fund transfers to cryptocurrency exchange Binance. Recently, Barclays and Natwest banks reportedly made a similar move. A number of Santander Bank customers reported on social media that they have received an email from the bank stating, “We’re stopping payments to Binance for your protection,” beginning on July 8. The bank explained: This follows the Financial Conduct Authority (FCA)’s recent warning to consumers and is to help protect you from fraud. For now, we want to be....
Santander UK has put a per transaction limit as well as a total monthly restriction on the amount that users can transfer to crypto exchanges. Santander UK Bank Says Investing In Crypto Can Be High Risk The United Kingdom branch of the banking giant Banco Santander yesterday posted a notification for its customers, where it […]