• Suadi Aramco has invested in North Sea oil post-trade settlement firm Vakt
    Technology

    Vakt wins backing of oil giant Saudi Aramco

    The world’s largest oil producer invested $5 million and plans to use Vakt’s blockchain-based post-trade settlement platform down the road

    Saudi Aramaco subsidiary Aramco Trading Company joins firms like BP and Shell in using Vakt’s settlement platform for North Sea crude oil. Vakt plans to expand its platform to other oil markets.

  • Accompanies an article on the World Economic Forum
    Cryptocurrencies

    WEF group wants to write the rules for digital currencies

    Facebook’s Libra proposal forced central bankers to wake up to the need for a common set of rules governing stable coins and other cryptocurrencies

    The World Economic Forum has established a global consortium focused on creating a framework for the governance of digital currencies, including government-backed stablecoins pegged to an underlying asset, such as the yen, euro or the U.S. dollar. 

  • Brad Garlinghouse Ripple XRP Davos
    Ripple,  XRP

    Garlinghouse hints hard Ripple will go public

    Speaking at the WEF in Davos, Ripple CEO Brad Garlinghouse strongly suggested that the payments and settlement firm will go public with a stock offering this year

    Speaking at the World Economic Forum in Davos, Switzerland, on Friday, Ripple CEO Brad Garlinghouse more or less said outright that Ripple wants to go public with a traditional stock market initial public offering this year.

  • Japan lawmakers to propose digital yen
    Cryptocurrencies,  Politics

    In Japan, a digital yen may be on the horizon

    Lawmakers for the country’s ruling party say they are working on a proposal for a state-backed digital currency

    Japanese lawmakers are working on a proposal for the country to issue its own digital currency, according to a report in Reuters Friday. A digital yen could be a collaboration between the government and private companies, a key lawmaker in the country told Reuters Thursday.