– South Korea will increase government support for domestic blockchain companies
– Switzerland has taken steps to help blockchain companies access the traditional financial system
– PNC bank will use Ripple’s blockchain solution xCurrent to speed up international payments for its customers
– Ripple could launch a commercial version of its payment platform xRapid “in the next month or so”
– FATF is getting closer to the establishment of a global set of anti-money laundering standards for cryptocurrencies
The South Korean Ministry of Science and Information Communications Technology has pledged to increase government support for domestic blockchain companies to speed up the growth of the industry within the country.
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In an effort to maintain its status as a cryptocurrency hub, Switzerland has taken steps to help blockchain companies access the traditional financial system by making it easier for them to open corporate bank accounts.
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IBM has applied to patent a system that would use blockchain technology to tackle privacy and security concerns for drones.
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PNC, which is ranked among the top ten U.S. banks with 8 million customers and retail branches in 19 states, will use Ripple’s blockchain solution xCurrent to speed up international payments for its customers.
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Ripple could launch a commercial version of its payment platform xRapid “in the next month or so” according to Sagar Sarbhai, head of regulatory relations for Asia-Pacific and the Middle East at Ripple.
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The Financial Action Task Force (FATF), an international organization established in 1989 at the initiative of the G7 in order to develop policies and standards to fight money laundering, said it is getting closer to the establishment of a global set of anti-money laundering (AML) standards for cryptocurrencies.