Porsche Arranges $170m Loan Using BBVA’s Blockchain Platform

Prestige car-maker Porsche has arranged a loan to back its proposed strategic acquisitions using Spanish-bank BBVA’s ever-developing distributed ledger technology (DLT) platform. The loan, valued at €150 million (the equivalent of nearly $170 million USD) is, says a press release from BBVA: “The first acquisition term loan ever arranged through blockchain technology.” Acquisition term loans

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Pro-Crypto Fintechs Robinhood & Revolut Aim to Replace Bitcoin-Hostile Banks

Earlier today, two of the world’s hottest fintech startups, the US-based Robinhood and the UK-headquartered Revolut, separately announced new product offerings that could greatly benefit the crypto industry over the long-term and put pressure on bitcoin-hostile banks to begin modernizing their service lines. Bitcoin-Friendly Fintech Startups Want to Replace Banks Revolut, which recently achieved a

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Pro-Crypto Trading App Robinhood Launches Checkings & Savings Accounts

Menlo Park-based Robinhood has launched savings and checking accounts for its US customers, according to a company blog post. The new accounts would follow the similar trend that we have become accustomed to: “fee-free, commitment-free and surprise-free” were the words used lavishly on the company’s website. Robinhood, which operates a crypto trading platform in addition to

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Bitcoin-Friendly Revolut Receives European Banking License, Aims to be ‘Amazon of Banking’

Revolut, a digital banking alternative that features an in-app bitcoin and cryptocurrency exchange, has received a European banking license as it seeks to expand its offerings and position itself as the “Amazon of banking.” Revolut to Offer Bank Accounts in Europe The London-based unicorn, which remains one of the hottest fintech startups in the United

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Dutch Central Bank Wants to Regulate Crypto Companies to Stem Money Laundering

The Dutch Central Bank, De Nederlandsche Bank, wants to regulate crypto companies by requiring them to get licenses in order to operate. The bank claims the measure will deter money laundering and the use of cryptocurrencies to fund terrorism, according to a short brief in Dutch daily newspaper De Telegraaf. To qualify for a license, crypto

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Chilean Supreme Court Backs Bank’s Closure of Crypto Exchange Account

The Third Chamber of the Chilean Supreme Court has rejected the appeal of cryptocurrency exchange Orionx, which means that the account of the company with state-owned BancoEstado will continue to remain closed, local news outlet reports. Earlier this year, Chilean banks Itau Corpbanca, Bank of Nova Scotia, and state-owned Banco Estado decided to shut down

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Deutsche Bank’s Money Laundering Scandal Underlines Poor Narrative Against Crypto

Germany’s largest financial institution Deutsche Bank had its Frankfurt headquarters raided by the local authorities under the suspicion of money laundering. While crypto continues to be targeted by the press for the alleged usage of decentralized systems by criminals, a growing number of banks are being investigated for processing payments for criminal organizations. On November

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Chinese Crypto Miner to Launch Remittance-Friendly Digital Peso in Philippines in H1 2019

Huaren Capital had entered the Philippines’ business territory to expand its crypto mining business. But the Chinese firm has found another purpose on the sideways. The crypto giant plans to launch a digitized version of Philippino Peso called “Digital Peso” in the first half of 2019, reported Inquirer. The coin, whose per unit value would

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Goldman Sachs Still Can’t Hold Crypto on Behalf of Clients Despite Growing Demand

Nearly three months have passed since Goldman Sachs, a $73 billion investment bank based in the US, said that it is not ready to facilitate the delivery of “physical Bitcoin” to its clients. The banking giant is still not able to hold cryptocurrencies on behalf of its clients, despite growing demand from clients. At a

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‘Fat-Finger’ Error Costs Norwegian Bank Storebrand Nearly $12 Billion in Value

Storebrand, a leading Norwegian financial services group worth more than $81 billion shed 14 percent of its share value on Wednesday morning after falling victim to a phenomenon known as a “fat-finger” error. The term refers to an erroneous keyboard or mouse input that places a buy or sell order that is magnitudes larger than

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