#CryptoCorner: Signature Bank (Nasdaq: $SBNY) Partners with Prime Trust for Institutional #Blockchain Solution, IBM (NYSE: $IBM) Announces Blockchain-Powered “Thank My Farmer” App at CES
#CryptoCorner:
Signature Bank (Nasdaq: $SBNY) Partners with Prime Trust for Institutional #Blockchain
Solution, IBM (NYSE: $IBM) Announces Blockchain-Powered “Thank My Farmer” App
at CES
South Korean
Presidential Commission Pushes #Crypto
Point Roberts, WA, Delta BC January 6, 2020
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Stocks discussed: (NasdaqGS:SBNY) (NYSE:IBM)
New York-based
commercial bank Signature Bank (NasdaqGS:SBNY) and tech-driven financial
institution Prime Trust have partnered to provide “real-time payment and
settlement services” to institutional clients. According to the press
release,
the companies will pursue this through Prime Trust’s Prime Settlement Network,
described as “one of the most advanced multi-asset counterparty settlement
platforms in the world”, leveraging Signature Bank’s Signet platform, described
as “a revolutionary blockchain-based digital payments platform.” Whitney White,
Prime Trust’s Chief Operating Officer, Chief Technology Officer and Executive
Trust Officer, commented:
“Forging a client relationship with Signature Bank and
capitalizing on the advantages of Signet will prove valuable to our company and
clients. Signature Bank has established a proven track record in the blockchain
payment space and is now recognized for the outstanding services it brings to
digital asset traders and exchanges. We look forward to creating new
efficiencies for our clients in conjunction with Signature Bank and the Signet
team.”
IBM (NYSE:IBM) announced a new consumer
mobile application called "Thank My Farmer” at the 2020 CES (Consumer
Electronics Show) that leverages blockchain “to help increase traceability,
efficiency and fairness in the coffee supply chain.” The app enables consumers
to trace their coffee to its farm of origin and “presents sustainability
projects in coffee communities and an opportunity for consumers to support
them.” Raj Rao, General Manager, IBM Food Trust, said:
"This project is another example of how blockchain
technology can enable a channel for real change. Blockchain is more than
aspirational business tech, it is used today to transform how people can build
trust in the goods they consume. For business, it can drive greater
transparency and efficiency."
Business
Korea
reports that South Korea’s 4th Industrial Revolution Presidential Commission is
pushing for the government to allow financial institutions to launch
cryptocurrency-related products. Among the Commission’s suggestions were the
listing of Bitcoin directly on the country’s stock exchange, launching Bitcoin
(BTC) derivatives, and
introducing business licenses or guidelines for crypto-asset exchanges. A
statement from the Commission reads:
"Participants in the traditional capital market
such as securities firms and banks should develop and introduce domestic
custody solutions to handle crypto assets so that the Korean crypto-asset
custody market will not depend on foreign countries. The Korean government has
to gradually allow institutional investors to deal in crypto assets and promote
over the counter (OTC) desks dedicated to institutional investors’ trade."
Sam Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin,
Blockchain and Digital Currency Stocks Directory
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