A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
March 21, 2022
On the web
Euroclear Joins Bank-backed Blockchain Payment System
U.S.
“Securities settlement house Euroclear said on Monday it had joined a consortium of banks building a payment system for tokenised assets in the latest sign of established institutions teaming up with newcomers in crypto tech.Securities settlement house Euroclear said on Monday it had joined a consortium of banks building a payment system for tokenised assets in the latest sign of established institutions teaming up with newcomers in crypto tech.”
December 16, 2020
On the wires
ASC X9 Issues First Blockchain Terminology Standard
“Today the Accredited Standards Committee X9 Inc. ( X9 ) announced the publication of X9.138 — Distributed Ledger Technologies Terminology, a much-needed standardized glossary of the most important common terms and definitions used with distributed ledger technology (DLT). The highest-profile example of DLT is bitcoin. The new standard is available for download at no charge.”
July 9, 2020
On the web
LocalGlobe and TransferWise’s Taavet Hinrikus back ‘frictionless finance’ startup Radix
TechCrunch
“Radix , a U.K. startup that’s building a decentralised finance protocol on which new financial apps can connect and be built on top of, has raised $4.1 million in new funding. Backing the company, which counts the Ethereum network and a number of other “DeFi” projects as competitors, is London-based seed-stage VC LocalGlobe and TransferWise co-founder Taavet Hinrikus.”
March 31, 2020
On the web
Santander to Extend Ripple-powered Payments Solution to Mexico This Year
FXStreet
“Major Spanish bank Santander plans to roll out its Ripple-powered international payments system One Pay FX in Mexico in 2020. In a Form 20-F filed with the United States Securities and Exchange Commission on March 6, the bank revealed that Mexico will be offering the service in early 2020.”
January 2, 2020
On the web
National Payments Corporation of India Unveils Blockchain Platform for Automated Payment, Clearing and Settlement – TokenPost
TokenPost
“Called Vajra Platform, the distributed ledger technology (DLT)-based system has been designed or automating payment clearing and settlement processes of NPCI products. It is essentially a permissioned network, meaning that only those parties that have been approved by the Network Administrator can be a part of the network.”
April 25, 2019
On the wires
FIS Integrates Into Visa B2B Connect Platform
businesswire
“Visa Inc. and FIS are joining forces to enable FIS’ commercial financial institution clients to quickly and securely access the Visa B2B Connect platform globally. Visa B2B Connect will be available to FIS’ customers who are looking for an innovative, fast and transparent way to process high-value corporate, cross-border payments. Visa B2B Connect is a distributed-ledger based, non-card platform. Its unique distributed-ledger based architecture enables significantly shorter transaction times, from weeks to one-to-two days.”
January 22, 2019
On the web
ING Bank, R3 Ink Deal for ‘Unlimited’ Corda Blockchain Deployment
CoinDesk
“R3 announced Tuesday that the deal will provide ING with an “unlimited” number of licenses for the Corda platform, allowing the bank to deploy its blockchain tech and “production-ready” CorDapps (or Corda Distributed Applications) across its international business operations. CorDapps cover various financial services activities, including trade finance, identity, insurance and capital markets, according to the announcement.”
January 15, 2019
On the web
HSBC Settled Over $250bn Using DLT Technology in 2018
TokenMarket
“HSBC, one of the world’s largest bank institutions, has revealed that throughout 2018 it settle more than $250 billion in transactions using distributed ledger technology (DLT). In a press release, the bank stated that it had been using it’s “FX Everywhere” platform in order to complete over 3 million foreign exchange (FX) transactions and made an additional 150,000 payments utilising the same technology. HSBC went on to reveal that it had been using the platform in order to “orchestrate payments across HSBC’s internal balance streets creating significant efficiencies and opportunities.””
November 13, 2018
On the web
Singapore Exchange and regulator in cross-DLT settlement breakthrough
Banking Technology
“The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) have developed delivery versus payment (DvP) capabilities for the settlement of tokenised assets across different blockchain platforms. As reported in August, the pair signed a collaboration to develop this DvP. Anquan, Deloitte and Nasdaq were appointed as technology partners for this project. It was one of two spin-offs from Project Ubin.”
July 30, 2018
On the web
IBM And FX Giant CLS Team Up To Launch Blockchain App Store For Banks
CoinDesk
“Even private and permissioned blockchains need to build ecosystems and achieve network effects, just like their permissionless, public counterparts. At least, that’s the thinking behind LedgerConnect, a financial blockchain “app store” that aims to make it easier for banks to access distributed ledger technology (DLT) solutions from fintech and software providers, and for those vendors in turn to reach bank customers. Announced Monday, LedgerConnect is the offspring of bank-owned currency trading utility CLS and enterprise software giant IBM, and counts major banks Barclays and Citigroup among its founding members.”
July 18, 2018
On the web
Hong Kong Regulator, Banks Launch Blockchain-based Trade Finance Platform
Reuters
“Hong Kong’s banking regulator and seven banks, including HSBC Holdings PLC and Standard Chartered PLC, on Tuesday said they will jointly launch a trade finance platform in September using blockchain technology.The platform will be one of the largest examples globally of a government-led, cross-bank effort to reform the multi-billion dollar trade finance sector using the distributed ledger technology that underpins digital currencies such as bitcoin.”
July 13, 2018
Top Post
Advances In Real Time (Case Study)
MIT Press Journals (PDF)
“[T]he rise of digital financial services has changed the nature of payments and payment platforms in many ways. Customers can transfer money across great distances with a few taps on their mobile phones, with low or no associated fees. Providers can reach customers they weren’t able to before—namely, people with very limited assets who are either unbanked or underserved by predigital financial services. In emerging economies, telecoms and other non-bank institutions are stepping in to take advantage of this opportunity by offering digital payment services, such as mobile money.”
June 15, 2018
On the web
Banks Unlikely To Process Payments With Distributed Ledgers For Now, Says Ripple
Reuters
“Banks are unlikely to use distributed ledgers to process cross-border payments for now because of scalability and privacy issues, according to Ripple, one of the most prominent startups developing the technology. “I will concede, we haven’t gotten there yet,” Ripple’s chief cryptographer David Schwartz said in an interview. Banks have been vocal about taking steps toward deploying the technology originated from cryptocurrencies to make processes like international payments faster and cheaper.”
June 6, 2018
On the web
Why Blockchain Could Revolutionise Trade Finance Documentation
BankingTech
“These processes suffer greatly from built-in inefficiencies and it is not surprising at all that escrow payments, trade finance and processing and document store have all been identified as potentially benefitting from the application of blockchain. Fuelled by smart contracts to mediate payments, goods delivery and shipment updates, an new solution is being crafted by the industry, which is much more suitable for modern day trade financing. Corporates, banks and financial technology companies are now endeavoring to develop proof of concepts (POCs). These efforts are concentrated on using smart contracts to digitalise trade documents and registering these new documents into the blockchain or distributed ledger.”
May 14, 2018
On the web
Ripple Is Going After Startups To Build An Ecosystem Around The XRP Cryptocurrency
TechCrunch
“Former head of Facebook’s developer network leads ‘Xpring’ initiative to expand the $28B cryptocurrency. Ripple is making a push to expand the use of the XRP cryptocurrency it created into new verticals and segments beyond the payment and banking space where the company is focused.”
March 12, 2018
On the web
Why Blockchain Will Survive, Even If Bitcoin Doesn’t
Wall Street Journal (Paywall)
“Take logistics. Already, 1.1 million items sold or on sale at Walmart are on a blockchain—including chicken and almond milk—helping the company trace their journey from manufacturer to store shelf. Global shipping giant Maersk uses the same technology from IBM to track shipping containers, making it faster and easier to transfer them and get them through customs.”
March 9, 2018
On the web
Blockchain Proof Of Concept Completed By SWIFT
Block Tribune
“The PoC sought to answer a number of questions surrounding DLT: whether the technology, combined with SWIFT assets, would meet industry-level governance, security and data privacy requirements; whether DLT could bring concrete benefits over other architectures; and to check the technology’s current level of maturity to serve as a production-grade application within a mission-critical global infrastructure.”
Payments News
Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.
Top Stories from Payments News
Glenbrook Payments Boot camp®
Register for the next Glenbrook Payments Boot Camp®
An intensive and comprehensive overview of the payments industry.
Train your Team
Customized, private Payments Boot Camps tailored to meet your team’s unique needs.
OnDemand Modules
Recorded, one-hour videos covering a broad array of payments concepts.
Glenbrook Press
Comprehensive books that detail the systems and innovations shaping the payments industry.