Pompliano Joins Board of Blockchain-Based Lending Firm After $103M Raise

The raise brings Figure’s total funding to more than $225 million and values it at $1.2 billion, according to a company press release. Aside from Morgan Creek, which led the round, and MUFG, participants included DCM, Digital Currency Group, HCM Capital, Ribbit Capital, RPM Ventures and The Partners at DST Global. While the size of the round was disclosed in a securities filing last month, the other details were not revealed until now. Source link

BNY Mellon Aims to Go Live ‘ASAP’ on Trade Finance Blockchain Marco Polo

BNY Mellon chose Marco Polo because the blockchain works well for open account financing, which makes up around 85 percent of trade finance, and works well for large corporates, Kim said. (In open account transactions, the goods are shipped and delivered before payment is due; with letter-of-credit financing, the bank guarantees a buyer’s payment ahead of time).  Source link

China Central Bank to Set Standards for 17 Fintech Categories, Including Blockchain

The People’s Bank of China (PBoC) has an agenda to set industry standards across the financial sector, including blockchain, a senior official from the bank said on Wednesday.  Speaking at a meeting of the National Technical Committee, PBoC vice president Yifei Fan said the bank aims to better regulate new technologies applied across the financial […] Source link