JPMorgan’s Blockchain Lead Is Now in Charge of Ethereum-Based Interbank Infor...

A major government-owned bank, the State Bank of India, has become the first Indian bank to join JPMorgan’s blockchain network Liink. The State Bank of India, or SBI, a major Indian government-owned bank, is looking to improve cross-border payments with a blockchain solution by American investment bank JPMorgan Chase.According to a Feb. 23 report by The Economic Times, the SBI has joined Liink, a new blockchain-based interbank data network developed by JPMorgan. By integrating the technology, the bank expects to reduce transaction costs and improve cross-border payments for its....

Some of JPMorgan’s new blockchain-related job applications seek candidates with experience in Bitcoin, Ethereum and proof-of-stake consensus mechanisms. Major American investment bank JPMorgan is upping its blockchain hiring spree by posting a series of new blockchain-related job applications.JPMorgan has opened multiple positions to pursue its global blockchain development efforts including job postings targeting blockchain-focused software developers, engineers, marketers and auditors. According to the company’s open positions on LinkedIn, many of these new blockchain-related job....

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....

Research from Tyr Capital Arbitrage SP refutes JPMorgan’s claim that a Bitcoin ETF holds negative connotations for BTC's price. Strategists at JPMorgan Chase caused quite the stir in January when they informed clients that the approval of a Bitcoin (BTC) exchange-traded fund, or ETF, would be a short-term headwind for the digital asset. A United Kingdom-based cryptocurrency hedge fund manager is attempting to pour cold water on those claims, asserting that JPMorgan’s analysis isn’t based on quantitative analysis or in-depth research.The crux of JPMorgan’s argument is that a new....

The operator of China’s interbank trading system has joined the R3 blockchain consortium. The China Foreign Exchange Trade System (CFETS), founded in the early 1990s, functions directly under the auspices of the People’s Bank of China, the country’s central bank. As such, it functions as the platform for interbank trading between Chinese banks and those based abroad. As part of the consortium, CFETS officials will work with other financial institutions worldwide on blockchain development initiatives. Zaiyue Xu, executive vice president of CFETS, said in a statement: “CFETS is committed to....