Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, the Financial Stability Board does not see digital assets as a threat to financial stability and has proposed a framework for regulation.
The Switzerland-based Financial Stability Board has proposed a framework for regulation. The international financial watchdog does not believe digital assets pose a risk to global financial stability. It is conducting a survey of major banks across the world to monitor digital asset exposures.
Major consulting firm Accenture will update Thales Groups supply chain infrastructure with Hyperledger. The solution will be able to track, trace and authenticate parts through its entire life from manufacturing to installation.
IBM has partnered with Stronghold to launch a stable coin pegged to the U.S. Dollar. Stronghold USD is a stable coin backed by FDIC insured USD held at Prime Trust. IBM will look at ways to facilitate transfers between financial institutions to process payments more quickly.
A group of seven banks including HSBC and Standard Chartered will work with the Hong Kong Monetary Authority to implement a blockchain platform for trade finance. The group aims to update a manual and paper oriented process reducing the risk of error.
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