A firm that invests in Bitcoin and blockchain technology companies is relocating its headquarters from New York City to Stamford and is expected to create more than 300 new jobs over the next five years, Gov. Ned Lamont announced Monday.
As the price of Bitcoin sky rockets, credit unions are plunging deeper into the world of crypto-currencies, with the belief that investing in the block chain technology may pay off in the long run.
Commerzbank, Bank of Montreal, Erste Group Bank and CaixaBank have joined an initiative launched by UBS Group and IBM Corp. aimed at building blockchain-based technology to support trade finance transactions.
Tech giant IBM is building a blockchain-based platform for seven big European banks, including HSBC and Deutsche Bank, that is aimed at simplifying trade finance transactions for small- and medium-sized companies.
As financial institutions and fintechs size each other up, what should not go overlooked is the opportunity for fintechs to create efficiencies in some of banking’s most critical functions, say industry observers.
