Already, the country's DNB bank has stopped handling cash, with Trond Bentestuen, group executive vice president of wealth management and insurance at the bank, telling local media as far back as 2016, that only 6 percent of Norwegians use cash on a
Asset management house Schroders is taking a minority equity stake in Singapore-based digital wealth services outfit WeInvest. Terms of the deal, set to be completed in June, have not been disclosed.
ITC is currently being used by the banks for a pilot project, using the blockchain-based solution to, a release states, increase automation and transparency, and help manage risks in trade and supply chain financing.
The people said the planned fund would likely draw a wider pool of investors than the first one, in which most of the contributions came from sovereign wealth funds in Saudi Arabia and the United Arab Emirates.