The global messaging network Swift and its fintech challenger, Ripple, have been vying for bankers’ hearts and minds for more than a year. Whoever prevails, their latest moves could bring needed change to how international banking is done.
Using a program built by Ripple, BBVA has transferred about 50 euro-denominated payments to Mexico from Spain in seconds. Such transactions normally take up to four days to clear, the bank said.
JPMorgan Chase & Co.’s head of new technologies has been hired by LendingClub Corp. as the peer-to-peer lending pioneer seeks to rebuild business following a scandal over its corporate controls.
Coordinators of a financial-industry backed blockchain project say they have successfully demonstrated that the distributed ledger technology can be used to syndication, trade and make payments on leveraged loans.
Blockchain Capital wants to raise $10 million by issuing its own digital token, a method the firm says is the future for startups, VCs and everybody else.
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