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Tag Archives: hsbc

Libra Adds Another Banking Expert to Its List of Executives

Facebook-backed Libra has issued another “major” announcement. It is bringing former HSBC executive Ian Jenkins on board to serve as the new chief financial officer of a division in the company designed to manage the Libra payment system.Libra Brings Ian Jenkins AboardJenkins initially served as a former business finance head and general group manager for HSBC. He also has experience working with other major financial institutions such as Santander and Credit Suisse.The big question following...

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SEBA: Banque de France announced the candidates for testing the integration of a Central Bank Digital Currency (CBDC) for interbank settlements

SEBA Bank, a FINMA licenced Swiss Bank providing a seamless, secure and easy-to-use bridge between digital and traditional assets, today announces that they have been selected by Banque de France for experiments with Central Bank Digital Currency (CBDC). Banque de France announced the overview of candidates for their experiment. SEBA Bank is proud to see that Banque de France selected SEBA Bank...

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Libra Association: HSBC-Banker wird CEO

Libra Association Es geht nun doch endlich was mit der von Facebook gegründeten Libra Association. Gemäss einer Medienmitteilung von gestern Mittwoch wird ein hoher HSBC-Banker CEO der Libra Association. Und es ist wahrscheinlich auch kein Zufall, dass Stuart Levey, der neue CEO der Libra Association einen juristischen Background hat. Denn die Libra Association kämpft mit...

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Fintech Firm Monzo CEO Says Big Banks Are Set Up to ‘Kill’ Change

Monzo CEO Tom Blomfield believes that big traditional banks are killing the changes that ambitious companies are trying to bring to the fintech industry.The CEO and co-founder of Monzo Bank Ltd, a financial institution based in the United Kingdom, Tom Blomfield, has stated that big banks are set up to prevent fintech change. He also claimed that they are hunting out change and attempting to kill it.The British fintech entrepreneur does not believe big banks will ever experience a digital...

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Citi and Goldman Sachs Launch Blockchain-Based Equity Swap via Axoni

The Ethereum-alike blockchain network from Axoni is under development and usage among Goldman Sachs and Citigroup members. Two banks conducted the first equity swap on a new blockchain.This is a milestone in the development of corporate blockchains. Citigroup has already conducted transactions with Goldman Sachs via the secretive blockchain. The first deal occurred on January 28.The blockchain solutions company Axoni launches a distributed ledger network. It was founded in 2013, gathered...

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Standard Chartered Invests in Rebranded Finance Trade Startup Contour

Previously named Voltron Blockchain, now known as Contour, the firm gains the undisclosed sum from one of the biggest bidders of the world. R3‘s Asia Chief Carl Wegner became the startup’s CEO and will lead the company to the successful launch of its innovative letter-of-credit (LoC) service.The company reduced the time needed for the LoCs from 2 weeks to 24 hours max, in several test projects. Lisa Robins is serving as Head of Transaction Banking at SC. She says that thanks to the Corda...

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Bank of England and Five Other Central Banks to Assess Benefits of CBDC

It has become known that United Kingdom premier Boris Johnson’s government has lost its first parliamentary votes since the snap general election because the House of Lords applied three defeats over Brexit legislation.The upper chamber voted in favor of giving physical documents as proof of their right to stay to EU citizens who live in the UK to be, once the country has left the bloc. On January 17, European Parliament Brexit coordinator Guy Verhofstadt said that the country will not...

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Sanofi Acquiring Synthorx for $2.5B to Strengthen Immuno-Oncology Portfolio

French multinational company Sanofi SA stated on Monday that it will buy biotechnology company Synthorx Inc. for a combined equity value of approximately $2.5 billion. In other words, it will be $65 per share.The acquisition is expected to close in the first quarter in 2020 and the company believes it will strengthen Sanofi’s existing immuno-oncology portfolio.Paul Hudson, who is the CEO of Sanofi, said:“This acquisition fits perfectly with our strategy to build a portfolio of high-quality...

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Blockchain Arm of Ping An Insurance OneConnect Gives Details for its IPO Valued at $468M

OneConnect Financial Technology which is the artificial intelligence and blockchain arm of Ping An Insurance that is easily one of the largest insurance firms in China has come forth with the terms for its IPO valued at $468 Million. Sources indicate that based on the F-1 Filing of its prospectus with the United States Securities and Exchange Commission (SEC), the firm intends to conduct the initial public offering which is aimed at raising between $432 million and $504 million via issuing...

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Robinhood Stock-Trading Startup Officially Abandons Plan to Become a Full Bank

Popular stock-trading startup Robinhood has decided that it is no longer interested in becoming a federally insured bank. Months ago, the company applied for a bank charter with the Office of the Comptroller of the Currency (OCC), in an effort to become a fully-fledged bank but has now decided to shelve said plans.According to the statement, the company has taken this step to shift its attention away from banking to its own core business directed at improving the efficiency of the financial...

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