Qatar Commercial Bank Completes International Money Transfer Blockchain Pilot
Commercial Bank, a private Qatari bank has revealed the successful completion of an initial blockchain pilot enabling international funds transfers with a number of banks in the region and beyond. The offering could have a significant impact on outward remittances in a country that houses a large population of working immigrants from a number of regional nations. Doha-based Commercial Bank, which lays claim to being Qatar’s first private bank, has announced the completion of a blockchain pilot in partnership from its regional alliance. Hosted on a cloud-based blockchain, the platform sees....
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Santander U.K. has announced its introduction of blockchain technology for international payments through a new app that is currently being rolled out as a staff pilot. The bank plans to make the application, which is only available on Apple’s iOS, available to consumers after it completes the pilot program. The announcement makes Santander the first bank in the U.K. to use blockchain for international payments. The new Santander app connects to Apple Pay, where users can confirm payments securely using Touch ID. It lets users transfer between £10 and £10,000, and payments can be made from....
The Oversea-Chinese Banking Corporation (OCBC), a publicly-listed banking corporation headquartered in Singapore will begin inter-bank payments powered by blockchain technology in Southeast Asia. The announcement, revealed by regional publication FintechNews Singapore, follows a successful duo of pilot payment transactions conducted between the bank and a regional and an international banking partner. The pilot utilized a blockchain platform jointly developed by OCBC Bank and BCSIS, a local payments startup in Singapore. Two blockchain pilot payment transactions were revealed. First, a....
ICICI Bank and three other financial services platforms have partnered with Stellar cryptocurrency platform to enable blockchain based fund transfer. The Indian fintech sector has lately been in the news a lot. In yet another milestone achievement, one of the leading banking institution — ICICI has partnered with Stellar blockchain platform. In the latest release, Stellar has announced partnerships with not one but four different entities across the world. In addition to ICICI Bank, other platforms include Coins.ph — a Philippines-based mobile financial services provider; Flutterwave — a....
Qatar Central Bank is presently examining the possibility of issuing a digital currency as well as digital bank licensing, an official has said. The official adds this study will help the central bank get an understanding of what its area of focus should be.
The Growing Significance of CBDC
An official with the Qatar Central Bank (QCB) has said the institution is presently studying digital bank licensing as well as digital currencies. The official, Alanood Abdullah Al Muftah, the head of the bank’s fintech division, adds the study will enable the QCB to gain a better....
The Central Bank of Colombia has announced its involvement in the first blockchain bond pilot program in the country, with the participation of the Interamerican Development Bank (IDB) and Davivienda, a private commercial bank. The proof of concept will use the Lacchain blockchain platform developed by the IDB, which will handle the operative part of the issuance. Central Bank of Colombia Joins Blockchain Bond Pilot Program The Central Bank of Colombia has announced its participation in the first blockchain bond program in the country. Issued by Davivienda, one of the most important....