JP Morgan rebrands blockchain payment network and adds new features

JP Morgan has announced the launch of Liink, a rebadging of its blockchain-based Interbank Information Network (IIN), alongside new applications around payment information validation.

Liink, originally launched in 2017, is aimed at utilising blockchain technology to alleviate delays in cross-border payments. The company says more than 400 financial institutions have signed up to participate, as well as more than half of the world's top 50 banks across 78 countries.

The...

PayPal opens up to Bitcoin, Ethereum and Litecoin – but with minimal functionality for now

PayPal has launched a new service enabling its customers to buy, hold and sell cryptocurrency direct from their PayPal account.

The company cited the Covid-19 pandemic as driving migration towards digital payments, as well as the increased interest in digital currencies from central banks and consumers, as behind the move.

Cryptocurrencies on the initial list include Bitcoin, Ethereum, Bitcoin Cash and Litecoin, with plans to expand to Venmo and 'select international...

PwC: Blockchain technologies could boost global economy to tune of $1.7 trillion by 2030

A new analysis from PwC estimates blockchain technologies could spark a $1.7 trillion boost in the global economy by 2030 - with the UK set to benefit to the tune of £57 billion ($72bn).

The findings come from a report which is part of a series exploring the economic impact and use cases for emerging technologies. PwC said its analysis 'showed the potential for blockchain to support organisations in how they rebuild and reconfigure their operations', particularly in the...

National Stock Exchange of Australia building blockchain system with new partnership

The National Stock Exchange of Australia has announced that it has partnered with fintech firm iSignthis in order to develop a blockchain-based settlement and clearing system called ClearPay.

The system will help to offer digital asset trading as well as settlements in real-time. It could also be used to make fractional trading—the option to say, buy a fraction of an Apple stock—possible. ClearPay is expected to be launched in early 2021 after which the National Stock...

Mastercard, Binance X and Xpring join Blockchain Education Alliance in ‘significant’ move

The Blockchain Education Alliance has announced the joining of several new members, including Mastercard, Binance X, the innovation arm of major crypto exchange Binance, Ripple's accelerator Xpring and cryptocurrency exchange KuCoin.

Other members to join the Alliance are smart contract platform NEO, IoT startup IoTeX, blockchain security firm Quantstamp and big data blockchain service Constellation Labs.

The Blockchain Education Alliance was launched in October 2019 by...

Paystand raises $20m in series B funding in aim to become ‘Venmo for enterprise transactions’

California-based Paystand has raised $20 million in its latest series B funding round that will help the cloud-based PaaS payment network to expand its products and services.

The secured funds will also help the firm to expand sales, marketing, success, and engineering teams at its California and Mexico offices.

Paystand simplifies complex commercial transactions and payments for enterprises, with the company claiming it wants to do for enterprise transactions what...

OverFuture launches IPO of tokenised shares on blockchain in Swiss first

Switzerland-based OverFuture SA is said to be the first Swiss firm that has been allowed to incorporate for an initial public offering (IPO) of tokenised shares on blockchain.

According to OverFuture’s IPO prospectus, an offering of 8,399,000 “common equity share security tokens” on the Ethereum blockchain, with smart contracts provided by with European digital assets exchange, EURO DAXX, will see the offering price at €1.25 ($1.38) per share.

OverFuture’s...

Lancashire Cricket launches blockchain-secure ticketing

Lancashire County Cricket Club has claimed to become the first organisation in the UK to have activated blockchain secure mobile tickets for all types of domestic and international matches at the Emirates Old Trafford stadium in 2020.

It will be leveraging a new blockchain mobile tickets platform, called TIXnGO, which will aim to ensure that only genuine supporters get tickets and will help curb the problem of counterfeit merchandise.

The TIXnGO platform was finalised...

SecuX launches crypto POS payment ecosystem to complement hardware wallets

Meet SecuX. The company, a provider of blockchain-based security solutions based in Taiwan since 2018, has expanded its offering with the launch of a cryptocurrency point of sale (POS) payment ecosystem.

The launch, which was made exclusively at Blockchain Expo North America yesterday, means the company moves beyond its previous product line around hardware wallets. Attendees were able to see a demonstration of the POS system and how users can pay using the app on either vending...

Juniper predicts blockchain-based B2B cross-border payments to surpass $4.4 trillion by 2024

A new report from Juniper Research has argued the total value of B2B cross-border payments immutably stored on blockchains will hit $4.4 trillion (£3.41tn) by 2024 – and ranks IBM as the primary vendor.

The report, titled ‘Blockchain: Key Vertical Opportunities, Trends & Challenges 2019-2030’, also noted blockchain will help financial institutions save $7bn by the same year, due to the automation of ‘know your customer’ checks, allied to the involvement of...