Author: Walter Stanish 2011-11-16 03:11:55
Published on: 2011-11-16T03:11:55+00:00
Payward Inc. has submitted a draft to the Internet Engineering Task Force (IETF) proposing an Internet IBAN (IIBAN). This IIBAN would identify an internet-based financial endpoint in a way that is compatible with the existing European Committee for Banking Standards (ECBS) International Bank Account Number (IBAN) standard [ISO13616]. The proposed IIBAN would be a superset of the current IBAN standard, which was created to facilitate international transactions and identify bank accounts. The IIBAN would provide additional functionality, allowing it to identify internet-based financial endpoints. Payward Inc. is the company behind Kraken, a popular cryptocurrency exchange. The submission of this draft suggests that Payward may be looking to expand its offerings beyond cryptocurrency and into traditional financial services. Overall, this proposal could have significant implications for the global financial industry, particularly as more transactions move online and the need for secure and reliable identification methods becomes increasingly important.
Updated on: 2023-06-04T21:22:47.884568+00:00