European Investment Bank reportedly to issue bonds with blockchain tech

The European Investment Bank, an international financial institution owned by European Union member states, is reportedly exploring blockchain technology for issuing digital bonds. According to a Tuesday Bloomberg report, the EIB has hired major global banks like Goldman Sachs, Banco Santander and Societe Generale to look at a potential deal involving a euro-denominated bond issued on a blockchain.  Citing a person familiar with the matter, Bloomberg states that the EIB is planning to deploy blockchain technology for the registration and settlement of digital bonds. Investor meetings for the inaugural sale…

Major Thai bank experimenting with decentralized finance

Kasikornbank, or KBank, one of Thailand’s largest banks has begun experimenting with DeFi services as part of its business expansion plan. According to a report by Bangkok Post, the bank’s DeFi exploration is being spearheaded by Kbank’s tech subsidiary Kasikorn Business Technology Group, or KBTG. Commenting on KBank’s DeFi plans, KBTG chairman Ruangroj Poonpol said: “DeFi is a key exploration for KBank Group this year […] The project is being explored through KBTG under the second phase of the company’s digital transformation programme.” According to Poonpol, DeFi could hold the…

SEC Blocked From Seeing Ripple Execs’ Personal Bank Records

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Pakistan’s central bank is ‘carefully studying’ CBDCs, says governor

The governor of the State Bank of Pakistan, Reza Baqir, has indicated that the institution is carefully studying the possibilities opened by central bank digital currencies. In an interview with CNN reporter Julia Chatterley on Thursday, Baqir noted that countries, such as China, are “already showing the way” when it comes to CBDC issuance, further outlining the motivations behind the central bank’s interest in CBDCs: “The benefit for us is twofold: Not only does [potential CBDC issuance] give another boost to our efforts for financial inclusion but, second, if the central…

Sri Lanka’s central bank warns public against risks of crypto investment

Sri Lanka’s central bank has taken the 2021 crypto bull market as an opportune time to warn the public against the risks associated with cryptocurrency investments. In a public notice published on April 9, the Central Bank of Sri Lanka, or CBSL, flagged up three types of crypto activities: cryptocurrency mining, investment in initial coin offerings and trading via cryptocurrency exchanges. All these, CBSL warns, expose investors to significant risks. As there are no regulatory safeguards in place for crypto activities in Sri Lanka, the institution has identified four main areas…

America’s 2nd Oldest Bank Building Bitcoin Trading Platform

Key Takeaways State Street’s Currenex will help Pure Digital build a cryptocurrency trading platform. It’s due to launch in 2021. State Street has plans to “explore” crypto space and may begin trading on the platform. The bank joins BNY Mellon, Morgan Stanley and others in making a move towards adopting crypto. Share this article The United States’ second-oldest bank, State Street, is just the latest to join the crypto boom.  State Street Makes Crypto Play  The company’s trading technology provider, Currenex, will be providing infrastructure for a new crypto trading…

C.R.E.A.M. launches Iron Bank flash loans, eyes cross-chain capital efficiency

In a press release today, C.R.E.A.M. Finance announced a new feature for (and, by proxy, an unofficial relaunch of) Iron Bank, the protocol-to-protocol lending platform designed for flash and undercollateralized loans.  C.R.E.A.M., which founder Leo Cheng describes as “the yolo-est Compound fork,” is a money market designed to cover assets that are “underserved” and allow for greater capital efficiency for decentralized finance (DeFi) power users, listing assets such as Yearn vault tokens and liquidity pool tokens. “We’re adding assets that people want to have, but others may be scared of,”…

Sweden’s central bank completes first phase of digital currency pilot

After completing the first phase of its digital currency pilot project, Sveriges Riksbank has found some critical issues that must be addressed before Stockholmers can buy coffee and kanelbullar with e-krona. In a recent study, Sweden’s central bank presented the first results of its central bank digital currency pilot on a network based on R3’s Corda blockchain. The Riksbank simulated core aspects of a potential CBDC system, including liquidity supply via the Riksbank’s settlement system, RIX, and network members serving as e-kronor distributors. The central bank also simulated participants, end-users and payment instruments…

After breaking $100 billion TVL, DeFi is now the equivalent of a top 40 U.S. bank

According to decentralized finance (DeFi) ecosystem tracker DeFiLlama, early this morning the DeFi ecosystem breached $100 billion in total value locked for the first time — rising 7% from $94.7 billion yesterday to $101.33 billion at the time of publication. Aside from the psychologically significant 9th digit, the figure is notable both for the speed with which it was attained (the ecosystem sat at $20.74 billion total on January 1st, 2021) as well as the sheer quantity of assets the upstart financial vertical now represents. Per Wikipedia, at $100 billion…

Bank of Japan begins first digital currency proof of concept

The Japanese central bank has launched a proof of concept for its central bank digital currency, or CBDC, according to an official announcement on Monday. Following initial preparations to test the technical feasibility of core CBDC functions and features in early 2021, the Bank of Japan is beginning CBDC testing in its first phase today. During this phase, the bank plans to develop a test environment for the CBDC system and conduct experiments on basic functions related to payment, issuance, distribution and redemption of a CBDC. According to the announcement,…