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foreign exchange

CDCROP: Chinese yuan money (Shutterstock)

Wells Fargo, HSBC Add Offshore Yuan to Blockchain Foreign-Exchange System

The banking giants have settled over $200 billion in transactions using the blockchain-based system.

By Jamie Crawley

Nov 17, 2022 at 11:16 a.m. UTC

Nov 17, 2022

Wells FargoHSBCBlockchainForeign Exchange

CDCROP: Climate Activists Call On Federal Reserve And Citigroup To Divest From Fossil Fuels (Michael M. Santiago/Getty Images)

CBDCs Could Reduce FX Transaction Speeds to 10 Seconds, NY Fed Says

The New York Fed simulated foreign exchange transactions using a distributed ledger to test for improvements over the current system.

By Nikhilesh De Jesse Hamilton

Nov 4, 2022 at 2:00 p.m. UTC

Nov 4, 2022

regulationsNew York Federal ReserveCBDCsFederal ReserveForeign Exchange

CDCROP: Aerial View of Singapore skyline (Getty Images)

France, Switzerland, Singapore to Test DeFi in Forex Markets

The countries' central banks started Project Mariana because they think decentralization could be the future of finance.

By Jack Schickler

Nov 2, 2022 at 9:12 a.m. UTC

Nov 2, 2022

regulationsBISCBDCCBDCsForeign ExchangeCross-Border PaymentsDeFi

CDCROP: Growth Economy Markets Indices (Pixabay)

Dollar Reversal Could Bring Inflationary Pressure, Former US Treasury Secretary Larry Summers Warns

Speculation is mounting over when the Federal Reserve might pivot dovish. But economists, including Summers, warn any such move might lead to weakness in the U.S. dollar versus other global currencies, in turn driving up prices for imports.

By Helene Braun

Nov 1, 2022 at 4:59 p.m. UTC

Nov 1, 2022

EconomicsMarketsFederal ReserveBitcoinInflationForeign ExchangeTradingInvesting

(Neilson Barnard/Getty Images for New York Times, modified by CoinDesk)

Podcasts

The breakdown

As Bank of England Intervenes, Druckenmiller Sees Crypto Renaissance

Have we officially hit the “things are breaking” stage in markets?

By Nathaniel Whittemore

Sep 28, 2022 at 9:42 p.m. UTC

Sep 28, 2022

The BreakdownPodcastsBank of EnglandForeign ExchangeInflation

(John M Lund Photography Inc/Getty Images, modified by CoinDesk)

Podcasts

The breakdown

The Dollar Is Our Currency and Your Problem

Why the dollar’s strength represents such a problem for the rest of the world.

By Nathaniel Whittemore

Sep 27, 2022 at 8:38 p.m. UTC

Sep 27, 2022

The BreakdownPodcastsDollarForeign Exchange

Markets

Bitcoin Starting to Lead FX Markets, Analysis of Tesla Reaction Shows: Report

EUR/USD, the most liquid currency pair globally, tracked bitcoin higher following the Tesla news.

By Omkar Godbole

Feb 12, 2021 at 1:10 p.m. UTC

Feb 12, 2021

MarketsForeign Exchange

Business

Bny mellon

Vanguard to Go Live on Symbiont's Blockchain Platform for Foreign Exchange in Q3 2020

Mutual fund giant Vanguard has completed another blockchain pilot that aims to change the risk profile of foreign exchange transactions.

By Nate DiCamillo

Jun 26, 2020 at 8:45 p.m. UTC

Jun 26, 2020

BNY MellonSymbiontState StreetForeign ExchangeFranklin Templeton

Markets

Banks

Goldman, Morgan Stanley Go Live With CLS' IBM-Powered Blockchain

CLS, the bank-owned currency trading utility, and IBM have gone live with their blockchain-based payment netting service after more than two years in development.