Tag Archives: Capital Markets

Russia’s Sberbank Uses Smart Contract to Settle Three-Way Repo Deal

State-owned Russian bank Sberbank has completed a repurchase agreement, or repo, using blockchain technology. The bank announced Thursday that, with participation from Region Brokerage Company and the country’s National Settlement Depository (NSD), it settled the “world’s first” three-way over-the-counter (OTC) repo using a smart contract. In a repo, securities are sold to an entity, with the seller agreeing to… Read More »

4 Banks Complete €100K Commercial Paper Transaction on R3’s Corda

Four European banks – Commerzbank, ING, Natixis and Rabobank – have settled a live transaction for a short-term debt instrument on the Corda platform developed by blockchain consortium startup R3. According to a report from FinTech Futures on Thursday, the transaction involved an issuance of a one-day maturity euro commercial paper (ECP) worth €100,000 (or $1,13,432) at a… Read More »

Bitcoin ETF Seekers Cite Precedent in SEC Presentation on Monday

Members of VanEck, SolidX and the Cboe BZX Exchange met with U.S. Securities and Exchange Commission (SEC) staff earlier this week to present a new argument on why the bitcoin market is ready for an exchange-traded fund (ETF). In the latest push to convince the regulator to approve a rule change which would open the door for the country’s… Read More »

ConsenSys Backs $2.1 Million Funding Round for Ethereum Privacy Startup

ConsenSys Labs has led a $2.1 million seed round for AZTEC, a startup that’s working to make ethereum transactions private so financial institutions can comfortably use the second-largest blockchain. Announced Thursday, other investors in the round include Entrepreneur First, Samos Investments, Jeffrey Tarrant (Mov37) and Charlie Songhurst. AZTEC, created by the mathematician Tom Pocock and nuclear physicist Zachary… Read More »

Blockchain Oil Trading Platform Backed by Shell and BP Is Now Live

A blockchain platform built by Vakt Global, a consortium venture set up by major firms including Shell and BP, has launched to bring new efficiencies to energy commodities trading. According to a tweet from the company Thursday, the platform is now ready to facilitate the trade in crude oil between commodity firms, claiming to be the “first enterprise… Read More »

Coinbase Quietly Opened Its OTC Crypto Trading Desk This Month

U.S.-based cryptocurrency exchange Coinbase opened its over-the-counter (OTC) crypto trading desk earlier this month. In an interview with news source Cheddar on Tuesday, Coinbase head of sales Christine Sandler said that the firm launched the OTC desk as a complement to its exchange business because institutions are using OTC as an “on-ramp for crypto trading” In an OTC… Read More »

Goldman, Morgan Stanley Go Live With CLS’ IBM-Powered Blockchain

CLS, the bank-owned currency trading utility, and IBM have gone live with their blockchain-based payment netting service after more than two years in development. Investment banking giants Goldman Sachs and Morgan Stanley are the first companies to use the newly launched CLSNet, with six more participants from North America, Europe and Asia, including Bank of China (Hong Kong), committed… Read More »

Bloomberg: Nasdaq Still Planning Bitcoin Futures Launch in 2019

U.S. stock exchange operator Nasdaq is reportedly sticking with plans to launch bitcoin futures contracts early next year. A Bloomberg report on Tuesday, citing “people familiar with the matter,” said that Nasdaq will likely still list its own bitcoin futures contracts Q1 2019, despite the weak crypto markets over the last year. It’s currently working through regulatory issues… Read More »

Abu Dhabi Bank Settles $500 Million Bond on a Blockchain

Abu Dhabi-headquartered Al Hilal Bank has carried a blockchain-based transaction for an Islamic bond worth $500 million. The bank, an investment arm of the Abu Dhabi government, announced Monday that it settled the Islamic, shariah-compliant bond, or sukuk, worth $500 million on the secondary market, using blockchain tech. The bond is maturing in September 2023. On the tech… Read More »

Nearly 500 Crypto Startups Bank at Silvergate, IPO Filing Reveals

The California-based parent of Silvergate Bank has detailed its relationships with the cryptocurrency industry as part of its IPO filing with the Securities and Exchange Commission (SEC). Touting itself as “The Banking Platform for Innovators” in its S-1 prospectus, filed with the SEC on Nov. 16, Silvergate Capital disclosed that the bank now serves 483 crypto clients, with… Read More »