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Just in time for the implementation of stringent new regulatory requirements, some of the largest banks in the world have revealed a pilot designed to simplify compliance using ethereum. Described internally as the Massive Autonomous Distributed Reconciliation platform, or Madrec for short, the project led by Swiss banking giant UBS, with help from Barclays, Credit Suisse, KBC,...

One of the longest-running cryptocurrency-only exchanges is taking steps to bring its customer registration processes in line with the wider industry. Announced on Dec. 27, U.S.-based exchange service Poloniex revealed it will soon disable all legacy accounts, that is unless these users complete the same verification process as its newer account users who must complete know-you...

Bank of America may be looking into cryptocurrency exchange services for its corporate clients – or at least keeping its options open should they become interested.In a patent awarded by the U.S. Patent and Trademark Office on Tuesday, the second-largest bank in the U.S. outlined a potential cryptocurrency exchange system that would convert one digital currency into...

CULedger, a consortium of credit unions developing distributed ledger technology (DLT) systems, has announced the appointment of a new chief executive officer.The new hire, John Ainsworth, who was previously Mastercard's executive vice president of North America markets, will be joining the company as president and CEO effective Dec. 18, a company announcement states....

Blockchain technology could represent a major shift in how companies conduct their business, according to Deutsche Bank's  chief investment officer.In a slide presentation this month, Christian Nolting, also the bank’s global head of wealth, and Marcus Muller, global head of the CIO office, explained how digital currencies and blockchains work and predicted where they wo...