Bahrain’s Bank ABC using JPMorgan’s Onyx blockchain for cross-border payments

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

United States News News

United States Latest News,United States Headlines

Bahrain-based Bank ABC is initiating limited U.S. dollar payment services on JPMorgan’s Onyx Coin Systems after two years of experiments, it announced.

Bahrain-based Bank ABC will use JPMorgan’s Onyx Coin Systems for blockchain-based cross-border payments in a soft, or limited, launch. The new service will be more cost effective and reduce settlement times relative to traditional solutions.

Bank ABC will at first use the U.S. dollar in transactions involving Bahrain, the United States, United Kingdom, Singapore and Hong Kong. The partners are planning more locations and transactions with the euro as well. Programmable payments are also in the works.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Deborah Roberts Named Co-Anchor at ABC News’ ’20/20′ (EXCLUSIVE)Deborah Roberts has been named co-anchor of ABC News' long-running '20/20' newsmagazine
Source: Variety - 🏆 108. / 63 Read more »

'Dancing with the Stars' season 32 to premiere as scheduled, ABC says'Dancing with the Stars' season 32 will premiere as scheduled on Sept. 26, ABC announced Monday.
Source: ABC - 🏆 471. / 51 Read more »

ABC Moves Forward With ‘Dancing With the Stars’ Premiere After Considering DelayThe show will go on Tuesday after the network considered postponing the reality series amid striking writers targeting the production.
Source: THR - 🏆 411. / 53 Read more »

ABC's Raddatz: Poll Showing Trump Ahead of Biden a 'Tough One to Spin'ABC News anchor Martha Raddatz said Sunday on 'This Week' that a new ABC/Washington News poll showing President Joe Biden trailing former President Donald Trump by 10 points was a 'tough one to spin.' | Clips
Source: BreitbartNews - 🏆 610. / 51 Read more »