Enterprise

Enterprise

Mitsubishi UFJ Financial Group Announces Blockchain Payment System

Source: BTCNN

Mitsubishi UFJ Financial Group, a Japanese bank that ranks as one of the world's largest, plans to launch a blockchain-based payment system. The system, which will stem from a partnership between the bank and Akamai Technologies, will be called "Global Open Network Inc." and is expected to launch in early 2020.

JPMorgan Launches 'JPM Coin,' First Cryptocurrency From a Major U.S. Bank

JPMorgan Chase & Co. has announced the creation of its own cryptocurrency, "JPM Coin," set to make up a small fraction of the trillions of dollars in value that it moves around the world daily through its wholesale payments service.

South Korea's Biggest Foreign Exchange Bank Applies for 46 Blockchain Patents

Korea Exchange Bank, South Korea's largest foreign exchange bank, has filed 46 patent applications for blockchain-related business models. These include systems for purchasing foreign products, offering digital asset services and issuing IOUs using blockchain technology.

XRP-Based Remittance Platform SendFriend Raises $1.7 Million From MIT Media Lab, Barclays, the Mastercard Foundation, Ripple

Source: SendFriend

SendFriend, a remittance service that leverages Ripple's xRapid product, has announced a $1.7 million raise from institutional investors including Ripple, the Mastercard Foundation, MIT Media Lab and Barclays. SendFriend is focused on allowing users to send money to the Philippines with lower fees than traditional cross-border options, converting USD to XRP and then to Philippine pesos (PHP) quickly.

Credit Suisse and Banco Best Complete Fund Transactions on a Blockchain

According to a press release, global investment bank Credit Suisse and Portuguese financial services provider Banco Best completed live end-to-end fund transactions on the blockchain-based platform FundsDLT. The success of the transactions, from delivery of orders to completion of trades, demonstrated an efficient and scalable model for cross-border distribution of investment funds.