Foreign Exchange
Wells Fargo, HSBC Add Offshore Yuan to Blockchain Foreign-Exchange System
The banking giants have settled over $200 billion in transactions using the blockchain-based system.
CBDCs Could Reduce FX Transaction Speeds to 10 Seconds, NY Fed Says
The New York Fed simulated foreign exchange transactions using a distributed ledger to test for improvements over the current system.
France, Switzerland, Singapore to Test DeFi in Forex Markets
The countries' central banks started Project Mariana because they think decentralization could be the future of finance.
Dollar Reversal Could Bring Inflationary Pressure, Former US Treasury Secretary Larry Summers Warns
Speculation is mounting over when the Federal Reserve might pivot dovish. But economists, including Summers, warn any such move might lead to weakness in the U.S. dollar versus other global currencies, in turn driving up prices for imports.
Bitcoin Starting to Lead FX Markets, Analysis of Tesla Reaction Shows: Report
EUR/USD, the most liquid currency pair globally, tracked bitcoin higher following the Tesla news.
Vanguard to Go Live on Symbiont's Blockchain Platform for Foreign Exchange in Q3 2020
Mutual fund giant Vanguard has completed another blockchain pilot that aims to change the risk profile of foreign exchange transactions.
Goldman, Morgan Stanley Go Live With CLS' IBM-Powered Blockchain
CLS, the bank-owned currency trading utility, and IBM have gone live with their blockchain-based payment netting service after more than two years in development.
British FX Firm Currencies Direct Pilots Ripple Tech
Foreign exchange brokerage Currencies Direct successfully completed several international transfers using Ripple's xRapid product.
