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Technology

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  • A new digital blockchain platform for promissory loan notes has launched, with four German banks hoping their offering will be able to jostle for a place in an increasingly crowded digital market.
  • Two issuance platforms are approaching readiness: one in bonds, one in loans. Both promise time and cost savings by replacing multiple systems with a single platform for issuers, dealers and investors, and automating documentation and payments.
  • Metro Bank shareholders are nursing losses of around 70% since the start of the year. But if this is the worst of UK banking’s problems right now, the sector is in pretty good shape as it faces Brexit and digital disruption.
  • The European Commission should work on setting protocols and standards to allow European-wide co-operation on fintech, according to Vilius Sapoka, Lithuania’s finance minister.
  • Bitfinex, the often and rightly criticised cryptocurrency exchange, is in a standoff with the New York Attorney General’s office (NYAG), which has accused it of a $850m fraud.
  • Chicago-based exchange ErisX has launched a spot market in cryptocurrencies after closing a third round of fundraising from venture capital investors.