BANKING FOCUSSED

1) BTC Today $:

Open: 3,612
Close: 3,502
High: 3,647
Low: 3,470
Volume 5,020,968,740
Marketcap: 61,004,445,982

(Days of Nuclear Winter Continues)

2) BBVA: BBVA multinational Spanish banking group, successfully completed the first global corporate loan transaction using blockchain technology from the negotiation of the deal to its signing, in line with their close collaboration to leverage cutting-edge technologies to streamline business processes. The pilot enabled the closing of a €75 million loan using a solution developed by BBVA based on distributed ledger technology (DLT). This demonstrates how BBVA continues to incorporate innovative and disruptive technology into its customer solutions, including those products that up to now have been limited digital innovation, as is the case with wholesale finance.

3) Loans: Banking giants Itaú Unibanco Holding SA and Standard chartered have partnered and raised $100mn to develop a blockchain platform named club loans, Its aimed for small syndicated loans with small group of lenders in Latin America. The use of blockchain in the banking industry is expected to reduce the risk of fraud in financial transactions, as well as cut down complexity and costs, the banks said. 

4) ICD: The Islamic Corporation for the Development of the Private Sector (ICD) in collaboration with i-Fin-Tech Solutions (IFTS) plans to introduce a blockchain-based product to help Islamic banks manage their liquidity needs. CEO said “IT will always play an important role for the financial system. We will consistently pursue our strategy of service orientation and help our partners with innovative Sharia-compliant FinTech solutions. “We are keen to work with ICD *in the Fintech industry to promote the i-Trade Platform and help the banking sector through providing an innovative solution to operate and supply better services for the final user and clients.”

5) Barclays: Barclays will launch an ‘AvTech’ Eagle Lab at Cranfield University, a co-working space for ambitious entrepreneurs to scale and grow. Barclays has put aside an investment fund of £370m investment fund for small businesses in the Midland. The focus of Eagle Lab is to help accelerate UK scale-ups, promote collaborative innovation across the entire ecosystem and enable access to, and training on, new and emerging technologies such as AI, blockchain and the Internet of Things which make up ‘Industry 4.0’ – the fourth industrial revolution.