Visa to boost B2B Connect with Hyperledger Fabric

Posted 23 October, 2018

Visa unveils more details regarding digital identity to be integrated into its blockchain payment service in early 2019.

According to the company press release, the brand new service will be a blockchain-based cross-border payment solution that will see the light in Q1 2019. 

“This one-of-a-kind distributed ledger-based platform is designed to give financial institutions a simple, fast and secure way to process cross-border business-to-business payments globally,” reads the document.

For identity tokenization, the B2B Connect system is said to use the company’s banking details and account numbers, which will get a unique identifier that can be used to facilitate transactions on the platform.

As the company commented:

“B2B Connect’s digital identity greatly reduces the opportunity for fraud that might otherwise exist with checks, ACH and wire transfers today, while also helping companies remain compliant as part of the regulated financial ecosystem.”

The new instrument will be based on Hyperledger Fabric, the result of the Linux-IBM cooperation. IBM representative believes this system may be a great example of blockchain payment transformation.

Visa is said to enter into a partnership agreement with  Bottomline Technologies, under which clients of the latter will become able to use B2B Connect. Moreover, Thailand’s  Kasikornbank has recently joined the project as well.

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24 October, 2018 11:19

← US dollar posts modest upturn during Asian trading

The US dollar shows moderate strengthening at Asian trading in the midweek. At the same time, the Japanese currency loses grounds, as risk assets regain demand. The US Dollar index was recorded at 95.94. The euro-to-US dollar exchange rate decreased to $1.1434, while yesterday's session was closed at $1.1471. However, the euro had been stronger vs the yen reaching 129 but then weakened to some 128.66. The US dollar-to-yen rate stands at 112.54 (112.44 yesterday). The market also keeps track of sterling, especially given the planned speech of Theresa May to the Conservative party. The Japanese currency gained 0.3% vs the euro and US dollar benefiting from stronger demand for protective assets fueled by stock index plunge. According to the released data, US indexes dropped by 0.4-0.5%, European and Asian ones – more than 1% down and 2% respectively.

US dollar posts modest upturn during Asian trading

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23 October, 2018 13:47

Yen stronger seeing better demand for protective assets →

The yen has got stronger on the back of better demand for safety assets fueled by the political risks observed in the world now. The American currency has trimmed gains vs the majors. On Tuesday, the US Dollar index decreased to some 95.60. The US dollar-to-yen exchange rate decreased to 112.34. For reference, the Japanese currency enjoys stronger demand during the period of political or financial instability in the world. The euro also weakened vs the yen reaching 128.95.  At the same time, it went up against the greenback – the exchange rate stands at $1.1482.  The sterling also gained grounds the US dollar to 1.2985.  At the same time, the rate dropped by almost 1% yesterday affected by the Brexit fears.

Yen stronger seeing better demand for protective assets
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