Tag Archives: Banks

Ripple to add 5 More Banks & Fintechs Will Use XRP Cryptocurrency

Ripple announced today that a total of 13 more financial institutions had joined RippleNet, putting the total at over 200. Of these, five of them will use the ripple (XRP) cryptocurrency for liquidity. Institutions named in the press release are: JNFX, SendFriend, Transpaygo, FTCS, and Euro Exim Bank. While they will use XRP to access liquidity on demand, the 8 others will not. Continue reading Ripple to add 5 More Banks & Fintechs Will Use XRP Cryptocurrency

Financial Watchdog Warns Two Banks Over Poor Crypto Transaction Management

A South Korean financial authority has warned two major domestic banks about their lack of management of cryptocurrency transactions and anti-money laundering (AML) regulation, local online media outlet The Daily reports Dec. 4. Continue reading Financial Watchdog Warns Two Banks Over Poor Crypto Transaction Management

Infosys sets up blockchain-based trade network in India with 7 banks

Infosys today said it has set up India Trade Connect, a blockchain-based trade network in India, in partnership with seven lenders, including Axis Bank, ICICI Bank, IndusInd Bank and RBL Bank. The other partner banks include Kotak Mahindra Bank, South Indian Bank and Yes Bank. Continue reading Infosys sets up blockchain-based trade network in India with 7 banks

Appalling Regulations on Cryptocurrency By RBI

The Reserve Bank Of India has come up with certain policies on Thursday’s meeting under Urjit Patel. RBI has banned buying cryptocurrency via banks or e-wallets with immediate effect. So, you will not be able to buy cryptocurrency via banks or e-wallets etc. in India anymore. Reserve Bank of India (RBI) has banned crypto with immediate effect from “dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies”. The central bank has repeatedly cautioned users, holders and traders of virtual currencies, including Bitcoins, regarding various risks associated with dealing with such virtual currencies. Continue reading Appalling Regulations on Cryptocurrency By RBI