SendFriend, a New York-based blockchain startup specializing in international money transfer to the Philippines, has raised $1.7 million in pre-seed funding from a group led by MIT Media Lab, Mastercard Foundation, Ripple and Barclays. Other investors include Techstars, Mahindra Finance, 2020 Ventures and 8 Decimal Capital. The blockchain-based platform, set to launch service from New Jersey and expand to other U.S. states, will allow customers, mostly overseas Filipino workers, to transfer funds back home for about 65 percent less than what is currently on the market, according to David Lighton, co-founder and CEO………………
In the journey to digitalizing trade, blockchain and distributed ledger technology (DLT) have emerged as powerful technologies promising to bring tremendous new opportunities for trade finance. At the 2018 Singapore Fintech Festival, experts discussed the many opportunities that blockchain brings to the table, with Jim Sullivan, deputy assistant secretary for services at the US Department of Commerce of International Trade Administration, citing two core areas for blockchain: trade finance and supply chain. Sullivan spoke about an advisory committee for the US Secretary of Commerce that is working to evaluate different standards across the world and the feasibility of leveraging blockchain in trade finance…………
– Crypto Update https://www.pivot.one/share/post/5c499dd31d57e76b64b94075?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV
A bill has been introduced in Wyoming’s state legislature to establish financial technology sandbox in order to boost innovation in this space. Introduced last week, the “Financial Technology Sandbox Act” seeks to create a financial technology sandbox for the testing of financial products and services in the state of Wyoming.
Italy’s Ministry of Economic Development has brought together 30 experts in a bid to boost the country’s blockchain strategy, CoinDesk reported.In September, the ministry had launched a call for applications for the selection of up to 30 members of a group of experts for the drafting of a national strategy on distributed ledger technologies (DLTs) and blockchain.