Calastone Moving Entire Settlements System to Blockchain
A London-based operator of a transaction network for investment funds, Calastone is planning to move its entire settlements system to a Blockchain platform by May next year.
Calastone provides services to more than 1,700 companies including majors such as JP Morgan Asset Management. And according to the company, if this plan is executed and processes that are currently manual are automated, it will save the industry (excluding the US market) almost £3.4 billion (~$4.3 billion) in fund distribution costs.
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Ping An Modifies its eTradeFinance Blockchain
The Chinese insurance giant, Ping An is modifying its eTradeFinance platform to give its 12 member banks greater control over customer relationships. Ping An’s fintech company’s Blockchain division’s head Frank Lu told reporters that his team was revising the manner in which businesses were submitting their data on the network for the purpose of trade financing. Rather than going through a central portal, businesses would now have to sign up through individual banks.
The major banks that have been participating in eTradeFinance are HSBC, BNP Paribas, Standard Chartered, Bank of East Asia as well as the Hong Kong divisions of all the four government owned banks of China.
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IsDB Developing Interbank Blockchain Tools
The Islamic Development Bank Group (IsDB) of Saudi Arabia is partnering with a startup from Tunisia called iFinTech Solutions to develop interbank Blockchain tools. This project will be carried out by IsDB’s private sector subsidiary called the Islamic Corporation for the Development of Private Sector (ICD). It will focus on improving the Islamic financial institutions’ liquidity management processes while also improving overall efficiencies of processes.
The reason for looking at a Blockchain solution lies in the fact that currently Islamic banks have a disadvantage in relation to banks on the global stage since their institutions are restricted from offering funding options like those that can be provided by international banks.
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Total Market Cap: Dec 03
The cryptocurrency market is trading down on the first day of the week, with a market capitalization of $130.91 billion and trading volumes of $14.04 billion.
Bitcoin Price Analysis: Dec 03
Bitcoin is trading just above the $4k mark at this time, at $4030.35 per token, which is a drop of 3.65% from yesterday. The crypto’s market worth is $70.14 billion and trading volumes are $5.22 billion.
Ethereum Price Analysis: Dec 03
Ethereum’s price is now $113.87 per token, which is a 3.11% decline from yesterday. The market capitalization is now $11.79 billion and trading volumes are $1.85 billion.
State of the Top 10 Cryptocurrencies: Dec 03
The top ten digital assets are once again all in the red in trading so far today. The biggest losses have been experienced by Bitcoin Cash, which is down by 6.32%, followed by Stellar, which is down by 5.46% and Bitcoin SV, which has lost 5.14%, in trading today.
- Bitcoin’s trading price is $4030.35, slipping 3.65% since yesterday. The worth of the token is $70.14 billion.
- Ripple’s trading price is $0.362466, slipping 1.94% since yesterday. The worth of the token is $14.61 billion.
- Ethereum’s trading price is $113.87, slipping 3.11% since yesterday. The worth of the token is $11.79 billion.
- Stellar’s trading price is $0.156391, slipping 5.46% since yesterday. The worth of the token is $2.99 billion.
- Bitcoin Cash’s trading price is $166.47, slipping 6.32% since yesterday. The worth of the token is $2.91 billion.
- EOS’s trading price is $2.84, slipping 4.01% since yesterday. The worth of the token is $2.57 billion.
- Litecoin’s trading price is $32.26, slipping 5% since yesterday. The worth of the token is $1.91 billion.
- Tether’s trading price is $0.995180, slipping 0.25% since yesterday. The worth of the token is $1.84 billion.
- Bitcoin SV’s trading price is $95.30, slipping 5.14% since yesterday. The worth of the token is $1.66 billion.
- Cardano’s trading price is $0.040750, slipping 1.80% since yesterday. The worth of the token is $1.05 billion.