DBS Bank pilots blockchain-based government grants
The blockchain-based solution builds on DBS Bank’s participation in Project Orchid, an effort by the Monetary Authority of Singapore to test the benefits of tokenization. Go to Source
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Execs at crypto-friendly Evolve Bank leave amid regulatory crackdown: Report
The bank services several crypto-friendly financial technology companies. Go to Source
RBI Report Highlights India’s Central Bank Digital Currency Development
India’s central bank, the Reserve Bank of India (RBI), published its August bulletin on Monday. The report discusses several aspects of central bank digital currency (CBDC) and its implications. The RBI is actively involved in developing CBDC initiatives to enhance cross-border payments, improve financial inclusion, and mitigate risks posed by private digital instruments. The RBI’s … Read more
Hong Kong issues generative AI guidelines for consumer protection
The HKMA introduces new principles for using generative AI, emphasizing governance, transparency, and data protection in consumer-facing applications. Go to Source
Mastercard and Scale Partner to Accelerate Fintech Deployment in Africa
Mastercard, the American multinational financial giant, recently revealed it has partnered with the fintech firm Scale to accelerate the deployment of fintech firms in Africa and the Middle East. Amnah Ajmal praised the partnership with Scale, saying it moves her organization closer to its goal of narrowing the digital gap. Narrowing the Digital Gap The … Read more
Chaos Labs Secures $55M Series A Funding to Bolster Defi Risk Management Solutions
Chaos Labs has raised $55 million in a Series A funding round, led by Haun Ventures, to advance its onchain risk management platform for decentralized finance (defi). The company plans to use the funds to further enhance its technology, which automates real-time protocol parameter recommendations to improve the security and efficiency of defi protocols. Chaos … Read more
Hong Kong launches generative AI Sandbox for finance sector
The HKMA collaborates with Cyberport to launch a generative AI sandbox, targeting fintech innovations in finance. Go to Source
Ripple and SBI Digital Community Partner to Advance Web3 With XRP Ledger
SBI Digital Community Co. Ltd. has partnered with Ripple Labs Inc. to promote the use of the XRP Ledger in the Web3 space. The partnership will also involve issuing non-fungible tokens (NFTs) on the XRP Ledger and rewarding creators in XRP, aiming to enhance consumer experiences and make Web3 technologies more accessible. SBI Digital Community … Read more
IBM’s new ‘Lightweight Engine’ could be a game changer for fintech
JP Morgan just rolled out ChatGPT to 60,000 employees, demonstrating the demand for generative AI in the financial services sector. Go to Source
Xapo Bank Enters UK Market, Offers Interest-Bearing USD and Bitcoin Account
Xapo Bank has entered the UK market, becoming the only licensed banking group to offer a combined interest-bearing USD and bitcoin account. “We’re proud to announce we have successfully passported our banking license into the UK. This means we are allowed to offer our banking services directly to the UK market,” said the CEO of … Read more
