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Banks complete 25 million euros securities transaction on blockchain platform

NEW YORK: Credit Suisse Group AG and ING Groep NV have completed a 25 million euros (22.2 million pounds) securities lending transaction using blockchain-based software, the companies said on Thursday, as more projects involving the nascent technology behind cryptocurrencies get closer to yielding results. The transaction involved the banks swapping baskets of securities through an application from financial technology company HQLAx built with a type of blockchain created by bank consortium R3, the companies said. The…

Tech firm raises $118 million in virtual coin offer to fund blockchain phone

Technology firm Sirin Labs said on Thursday it had raised $118 million in an initial coin offering (ICO) to support the development of an open source blockchain smartphone. ICOs allow startups founded on cryptocurrency technologies such as blockchain to quickly raise capital by issuing virtual tokens to investors. Such offerings have become more common in the past year, but Europe’s top markets regulator warned last month they were “extremely risky and highly speculative investments.” Read More: The SEC just issued a…

IBM launches enterprise-ready blockchain service to allow businesses build apps

NEW YORK: International Business Machines Corp has launched a service that will allow businesses to build applications on its cloud using blockchain code from the Hyperledger Project, the cross-industry group led by the Linux Foundation. The US technology company said on Monday its new product called IBM Blockchain was the first service for developers to build enterprise-grade technology using Hyperledger Fabric, the first code set to be released by the open source group. The Fabric blockchain can process more than 1,000…