Sweden’s Financial Supervisory Authority (FSA), ’Finansinspektionen’, has fined Swedbank a record sum of 4 billion Swedish krona ($386M) for breaching anti-money laundering regulations on a large scale. Around $5.8 billion had been funneled between suspected accounts in Swedbank and Danske Bank in the Baltics, the latter already fined large amounts for previous money-laundering activities. Also...Read More
Mastercard revealed its participation in the Marco Polo blockchain project, a collaboration of R3 and TradeIX. The initiative provides a multi-asset class platform that offers broker-dealer services and multicurrency transactions, among other services. American financial services titan Mastercard announced they’ve partnered Marco Polo, a trade finance network on R3’s Corda blockchain platform. Together with more...Read More
Sub-zero interest rates have become the norm in some countries, especially in Europe. Nordic nations such as Sweden and Denmark have been in negative territory for a while and a growing number of banks in the region are now charging depositors for keeping their money. Saving in fiat right now, unlike cryptocurrencies lately, leads to...Read More
