Tag: Paribas

BNP Paribas Joins IBM Cloud for Financial Services

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BNP Paribas has committed to joining the IBM Cloud for Financial Services as its anchor client in Europe. It is the first step in creating an ecosystem for the platform on the European continent.  Technology giant IBM (NYSE: IBM) has revealed that several financial institutions have joined the IBM Cloud for Financial Services Platform. Among those institutions is BNP Paribas SA (EPA: BNP). The technology giant made this known in a press release. BNP Paribas is one of Europe’s biggest banks, its joining the IBM Cloud for Financial Services serves as a…

BitMEX Operator HDR Global Hires Former BNP Paribas Exec

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BitMEX parent firm HDR Global Trading has hired a former executive of French banking group BNP Paribas as the group’s general counsel. 28 years of legal expertise Derek Gobel, who served at BNP Paribas for more than 19 years, will now oversee HDR Global’s legal function and help the company move forward in a constantly evolving regulatory environment, according to a blog post on BitMEX on Sept. 11. A member of the Legal 500’s 2017 GC Powerlist in China and Hong Kong, Derek will bring 28 years of experience working…

BNP Paribas Venture Arm Among Investors to Inject $16.5M in Fintech Firm Token

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Fintech firm Token has received a $16.5 million injection from investors including the venture arm of banking giant BNP Paribas, a news release announced on June 18. The self-described open banking platform says it will use the capital to further develop its TokenOSTM operating system — and “accelerate new ways of innovating payments with digital money and ID solutions.” According to the company, its ecosystem enables banks, customers and developers to complete transactions securely, instantly and with less friction. Token claims more than 4,000 banks have connected to its platform, with Mastercard recently coming…

BBVA Leads Blockchain-Based Syndicated Loan of $150 Million with BNP Paribas and MUFG

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Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), has carried out a blockchain-based syndicated loan of $150 million, U.K.-based global financial news agency Finextra reports Wednesday, Nov. 7. The syndicated bank transaction has been conducted on a private blockchain network through a group of three funding banks including French banking group BNP Paribas, Japan’s bank holding Mitsubishi UFJ Financial Group (MUFG), and BBVA. Acting as the sole underwriter of the transaction, BBVA also secured the participation of a partly state-owned Spanish company Red Eléctrica de España, as well as…

HSBC, BNP Paribas, StanChart, Others Launch Hong Kong Blockchain Trade Finance Platform

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A new blockchain trade finance platform developed by a dozen banks, among them HSBC, BNP Paribas, and Standard Chartered, launched this week in Hong Kong, Reuters reported Oct. 31. The platform, dubbed eTrade Connect, aims to improve efficiency in the financing of international trade by reducing the time needed to approve trade loan applications from thirty-six to just four hours. HSBC is reported to have earned $2.52 billion in trade-finance revenue in 2017, making it one of the global banking leaders in the industry. As of 2017, trade finance transactions…