A group of financial services companies are using a blockchain-powered post-trade prototype built by Axoni to test equity swaps. JP Morgan, Barclays, Credit Suisse, Citigroup, Thomson Reuters, IHS Markit, and Capco all participated in the test.
Allianz, Aegon, Munich Re, Swiss Re, and Zurich, European insurance and reinsurance companies, have partnered to create the Blockchain Insurance Industry Initiative, or B3i. The goal, like most of the consortiums, is to create proofs of concept and test use cases that could have a material impact on their primary businesses.
In an effort to further legitimize its ETF, the Winklevoss Bitcoin Trust chose State Street, a 224-year-old bank to oversee the back office mechanics of the ETF. It has also named Burr Pilger Mayer as the auditor of the ETF. BPM will be required to conduct a monthly proof of control to show that the ETF has the bitcoin.
Corda, the blockchain platform that was developed by the R3 consortium, is going to be made open source on November 30th. R3's goal by contributing the code to the Hyperledger project is for it to become the industry standard. The hope is that banks will build on top of the platform rather than building their own platforms.
ViaBTC is one of the newest mining pools, but quickly became one of the largest. It also decided that it would support Bitcoin Unlimited, which is an alternative client that allows blocks to be larger than 1MB. However, by doing this, it makes Segregated Witness a more difficult battle.
Visa has announced the launch of Visa B2B Connect, using Chain's technology, to do large and complex cross-border payments between businesses. While businesses use Visa credit cards domestically, they turn to banks for international transactions. Visa is hoping to change this and make them instant for their clients.