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Crypto

XRP turns weak after 50 percent surge as banks expand their own payment networks

XRP is losing momentum after a sharp rise, as large banks expand blockchain-based systems that reduce the need to pre-fund cross-border payments without using separate cryptocurrencies. XRP rose 49.4 percent over the past week but fell 2.2 percent over 24 hours. JPMorgan is broadening its Kinexys platform, while Citigroup is linking dollar clearing with token services. Swift is also connecting bank-issued digital deposits, adding competitive pressure.

Crypto

BlackRock tokenises stakes in European money market funds, enabling 24-hour transfers in pound, euro and dollar

BlackRock will offer tokenised stakes in some European money market funds, issuing units in pounds, euros and U.S. dollars via JPMorgan\'s blockchain platform Kinexys. Each token represents one underlying fund unit and can be transferred 24 hours a day between approved digital wallets. The tokenised assets are part of BlackRock\'s Institutional Cash Series, which has about $311 billion in assets overall. Executives said demand is tied to efficient collateral and corporate payments.

Crypto

KB Kookmin Bank to launch import-export payments using JPMorgan Kinexys blockchain network

KB Kookmin Bank said on Saturday it will launch next month a corporate payment service for import and export firms using JPMorgan Kinexys\' blockchain-based payment network. The service follows a memorandum of understanding on blockchain remittances for cross-border payment innovation. The bank said it is the first time a South Korean financial company has used Kinexys for payments to import-export firms. The service will be available at domestic branches and its Singapore branch, initially supporting U.S. dollar remittances to 10 countries.