5 Years Ago

Union bank in the Philippines is to launch a network of Cash machines/ATMs that will allow one to convert Pesos to Crypto or Crypto to Pesos.

The Philippines central bank has been allowing Crypto payments since 2017 as well as regulating Crypto Exchanges as it aims to ensure that these assets do not attract the wrong users – hence regulation. This is another sign of how Asia seems to be embracing the Digital Asset and follows the lead of a number of South American countries who also have a network or ATMs that handle Crypto currencies.

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https://www.investinblockchain.com/union-bank-p...rypto-atm/
ING’s Zero-knowledge range proof solution (ZKRPS) could validate that a new client lives in a country that belongs to the European Union, without revealing the country.

Simply put, this technology allows information to be shared without revealing contextual details. Annerie Vreugdenhil, head of Wholesale Banking Innovation at ING said “Our overall goal with distributed ledger technology and specifically blockchain is to create solutions that empower our clients to transform their business models,” One of the key elements in this process for clients is how to deal with data and privacy, ZKRPS is the next step in this journey.”

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http://ftreporter.com/ing-blockchain-might-impr...a-privacy/
The number of Governments using Cryptocurrencies seems to be gathering pace, with the announcement that Iran has been in discussions with Austria, Bosnia, France, Germany, Russia, South Africa, and Switzerland.

Iran is looking to launch a state-backed Cryptocurrency called Peyman, Persian for covenant. Four Iranian banks are involved, Bank Mellat, Bank Melli Iran, Bank Pasargad, and Parsian Bank. The over-the-counter exchange Iran Fara Bourse will offer the ability to trade the new currency. Initially, the Peyman will only be available for institutions, as Iran looks to accelerate the speed of banking transactions and facilitate payments globally as a way around US-led sanctions. Having been removed from SWIFT last year Iran has struggled to efficiently deal in global financial markets.

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Cryptocurrency
https://www.ccn.com/iran-launches-gold-backed-c...-sanctions
Swiss private bank Falcon have are now offering the custody of certain Digital Assets and for clients to swap their holdings with each other.

The ability to for clients, who hold Digital Assets to trade directly with each other without the need to use an exchange is a potential threat for Digital exchanges but is another example of how Blockchain technology is able to disintermediate. Falcon can now allow private and institutions to transfer cryptocurrencies with each other as well as convert into fiat as well as offer.

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Digital Assets
https://www.globenewswire.com/news-release/2019...ncies.html
If Western Union will deal in cryptocurrencies could this mean you do not need digital exchanges?

The president of Western Union Global Money Transfer has claimed the company is “ready to adopt any kind of currency,” potentially including cryptocurrencies. Odilon Almeida stated there is no big difference between cryptocurrencies and regular digital payments, the likes of which Western Union has been handling for years. Almeida believes that the firm’s long-term stance makes it potentially ready to launch any type of currency, including blockchain-based ones. However, Almeida thinks that in order to achieve mass adoption, cryptocurrencies have to solve problems with volatility, governance, and compliance. As per the Western Union exec — hinting at the concept behind some stablecoins — the issue with volatility in crypto markets can be addressed by pegging coins to some “strong currencies, such as the [United States] dollar.”

Apart from cryptocurrencies, Western Union is also exploring the use of blockchain. According to a press release accompanying the video, the firm has already partnered with Ripple to “test whether sending payments by blockchain was faster and less expensive,” adding that the “tests are ongoing.”


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Cryptocurrency
https://altcointoday.com/western-union-consider...a560076-l/