Wednesday, August 5, 2020

Dutch banking firm ING Step into the Blockchain industry

Dutch banking firm ING has sat down at the table of an association attempting to grow best practices for the digital money industry.

  • Declared Thursday, ING joins Global Digital Finance (GDF) and will co-seat its Custody Working Group.
  • As co-chair, ING will help manage the improvement of a set of principles standards for authority and overseers close by co-seat Onchain Custodian.
  • GDF is an excellent resource industry body working with notable names, for example, global expert administration firm EY, undertaking blockchain tech organization R3, U.S.- based cryptocurrency exchange Coinbase & information investigation firm Messari.

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  • ING’s blockchain activity led to digital resources Herve Francois, who said the bank put stock in giving an industry system to help the care and transportation of excellent support, which is imperative for an “establishment grade environment.”
  • In 2019, the Working Group introduced a deliberate set of accepted rules, guided by guidelines called “Standards for Custody – Custodial Wallets.”The gathering is about building up a guardianship guide, intending to be agreeable with late changes.

    READ MORE: China is using Blockchain Technology as record Court Hearings

  • Activities encompassing the reception of the Financial Action Task Force’s “Travel Rule.”
  • The ING Group is a worldwide banking and money related administration organization headquartered in Amsterdam.
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Dolly Deval
Dolly Deval
Dolly Deval is a journalist based in Delhi, INDIA. She has years of experience in writing for a number of print and digital platforms, ranging from sport to technology and of course, Cryptocurrencies.

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