FinTech Trends - JP Morgan's successful trial of blockchain adoption on settlements, IMF chief seems constructive on Singapore's FinTech symposium

We have seen technological advancements and the new regulatory policies in the FinTech trend, and ever demanding clients restructure the banking industry’s landscape. Maldonado, state economist, IE business school professor and advisor to the IFC (a wing of the world bank focused on driving private investment in developing countries) mentions that the relationship between banks and ‘Fintech’ start-ups has evolved from qualm to alliance and now the banks have reached themselves to such an extend that they are able to execute fintech projects.

Recently, International Monetary Fund head, Christine Lagarde said central banks across the globe should consider issuing digital currencies, she also glimpsed at the changing nature of money and the FinTech revolution.

"I believe we should consider the possibility to issue digital currency,"Ms Lagarde stated in a speech at a symposium for FinTech festival in Singapore. "There may be a role for the state to supply money to the digital economy."

While a blockchain ecosystem, called ‘Interbank Information Network’ (IIN), has executed primary settlement transactions and exhibited its significant results.

The renowned investment bank, ‘JPMorgan Chase’ has successfully piloted its blockchain-based payment system, and back-tested IIN.

Currency Strength Index: FxWirePro's hourly BTC spot index was at -38 (which is bearish), while hourly USD spot index was at 23 (mildly bullish) at 10:08 GMT.

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