Capital Markets

China Is Exploring Blockchain and AI Use Cases in International Trade Financing

China is reportedly looking into the various use cases for blockchain tech and artificial intelligence (AI) in international financing, with a special focus on risk management procedures.  The country intends to further liberalize its financial markets, a veteran foreign exchange regulatory official confirmed on October 26. The recent comments made by Lu Lei, deputy head...
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Traditional Financial Exchanges Oppose UK Crypto Derivatives Ban for Retail Investors

news The World Federation of Exchanges (WFE) has asked UK regulator Financial Conduct Authority (FCA) not to ban the sale of crypto derivatives to retail investors. A proposed ban would envelop regulated exchanges and CCPs who operate under stringent regulations to provide pre- and post-trade risk management standards that are designed tot foster safe and...
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Australia’s Gold Mint Is Backing a Crypto Token Based on Ethereum

news Australia’s only bullion mint is backing a new digital token aimed to allow investors to trade the precious metal in real time. The Perth Mint Gold Token (PMGT) was launched by InfiniGold on Friday, and is backed 1:1 by GoldPass certificates issued by The Perth Mint. The digital certificates are 100% gold backed and guaranteed by the Government...
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Liquidity Provider B2C2 Launches Gold Derivative Settled in Bitcoin

news Crypto liquidity and OTC provider B2C2 has launched a gold derivatives product that synthetically trades against bitcoin in what the firm says is an important evolution in the safe-haven asset trading space. Launched in 2015 and receiving regulatory approval for crypto derivatives in the U.K. earlier this year, B2C2 offers bulk crypto purchases through...
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London Stock Exchange-Backed Nivaura Hires Senior HSBC Banker

news Nivaura, a London-based regulated fintech startup backed by the London Stock Exchange Group, has hired senior banker Chris Jones from HSBC, the company said. The company helps users process capital market legal documents. The marquis hire will advise on product features and leverage city relationships to mainstream use of Nivaura’s blockchain-based system. In February, Nivaura...
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Foreign Exchange Giant CLS Admits: No, We Don’t Need a Blockchain for That

Blockchain technology is nice to have, but it’s hardly a must for rewiring the global financial markets.   So says Alan Marquard, chief strategy and development officer at CLS Group, the global utility for settling foreign exchange trades, owned by the 71 largest banks active in that market. Nearly a year ago, it went live with...
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It Took 18 Months, But This Blockchain Securities Firm Got the Nod From FINRA

Wall Street’s self-regulatory organization (SRO) has green-lit a new blockchain-powered securities trading platform. The Financial Industry Regulatory Authority (FINRA) has approved the membership application of IOI Capital and Markets, which plans to act as a placement agent for privately placed, digital securities on a permissioned Hyperledger Fabric blockchain. Co-founders Rashad Kurbanov and Hamid Gayibov have been...
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BitGo Hires Sales Chief From Crypto Custody Rival Xapo

Cryptocurrency custodian BitGo has announced the addition of Xapo‘s Pete Najarian to its executive team. Joining as the chief revenue officer, Najarian is tasked with global sales strategy. Najarian was senior vice president of institutions at bitcoin service provider Xapo before joining BitGo. Coinbase Custody announced its acquisition of Xapo’s institutional business last week. Speaking...
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