New Settlement Layer to Offer Asian Crypto Institutions Local Alternative to Silvergate Bank
The new settlement layer is intended save Asian institutional traders from taking the "scenic route" via U.S. banking regulations.
The JPMorgan subsidiary has agreed to repay most of $2.5 million it took in credit card fees for cryptocurrency purchases.
The bank has signed on to a blockchain-based trade finance network from Contour with the aim of bringing corporate settlements into the digital realm.
Custody tech provider METACO and forex trading platform Cobalt want to rewire the financial system to handle cryptocurrency.
The trial seeks a faster, more transparent clearing system and involves some of the country's largest banks.
First Digital Trust has won backing from Taiwan-based Nogle for its upcoming Asia-focused crypto settlement solution for institutions.