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A consortium of Spanish banking, energy and teleco heavyweights have established Blockchain-based national network dubbed Alastria. The non-profit world’s first regulated national network based on Blockchain, will develop distributed ledger technology (DLT), which it believes is set to become the new data exchange ecosystem. As reported previously, this same group created Red Lyra, the first [...]

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Corporates are under increasing pressure to be more efficient and their expectations of their banks are changing as a result. Banks need to be innovative to meet client expectations. Virtual accounts can be part of the solution for banks in meeting the needs of their corporate clients, as well as addressing their own internal strategic [...]

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Square says it plans to submit an application to form a wholly-owned bank based in Utah. The unit, to be called Square Financial Services, would offer loans and deposit accounts to small businesses and be capitalised with $56 million in cash. Square would be the third financial-technology company to pursue a banking licence in recent [...]

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The Payment Systems Regulator (PSR) and Bank of England (BoE) have announced that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to deliver against the mandate that the regulators tasked it with. Following the appointment of Melanie Johnson as its first chair, work will continue at pace to deliver the New [...]

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Nets is rumoured to be nearing a deal that is expected to value the company’s shares at more than DKr31.3 billion ($5 billion) with US private equity firm Hellman & Friedman (H&F) the front runner in the race to acquire it. The board of Nets, which only went public via a Copenhagen listing last year, [...]

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