Category: Digital Currency

Ant-backed MYbank to help China expand digital yuan trial

February 22, 2021

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Tencent-backed WeBank and Ant Financial-backed MYbank will reportedly be the first private banks to join China’s digital yuan pilot. 8208 Total views 29 Total shares China’s central bank is pushing exposure to its ongoing national digital currency pilot by enlisting two major private banks in the project. According to a Monday Bloomberg report, MYbank and […]

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The Bahamas gets a card for its sand dollar national digital currency

February 17, 2021

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The Central Bank of the Bahamas partnered with Mastercard and digital payment startup Island Pay to launch a card for its central bank digital currency. 3946 Total views 23 Total shares The Bahamas is moving to make its national digital currency more accessible by launching a prepaid card for the “sand dollar.” The Central Bank […]

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Sweden extends digital krona digital currency pilot until 2022

February 17, 2021

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Sweden’s exploration into CBDCs will continue until 2022 as the nation’s central bank seeks to construct a digital version of the krona. 12887 Total views 25 Total shares Sweden’s central bank, the Riksbank, recently announced that it has extended an ongoing pilot aimed at creating a digital version of the Swedish krona until 2022. In combination […]

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China’s blockchain project BSN to pilot global CBDC system in 2021

January 15, 2021

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China is building a new system to integrate international central bank digital currencies as part of its national blockchain project, the BSN. 2695 Total views 18 Total shares The Chinese national blockchain project, the Blockchain Service Network, is planning to pilot integration with global central bank digital currencies. According to a Jan. 15 blog post, […]

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Japan Gearing Up to Launch Its Own Digital Currency: Report

December 24, 2020

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Dec 24, 2020 at 3:49 p.m. UTCUpdated Dec 24, 2020 at 4:10 p.m. UTC Japan Gearing Up to Launch Its Own Digital Currency: Report Japan is gearing up to launch a digital currency in both the public and private sectors as it trails China, which is in the trial stage of launching its own. According […]

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Traditional banks offer digital asset custody amid compliance legislation

December 22, 2020

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More and more traditional banks have started announcing support for digital assets as the price of Bitcoin (BTC) continues to make headlines for record-breaking all-time highs. Even major banks like JPMorgan Chase, which previously frowned upon Bitcoin, have taken a newfound interest in the cryptocurrency. Contrary to what Goldman Sachs stated recently, JPMorgan’s strategists have noted […]

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Traditional crypto custodians ramp up security to accommodate institutional demand

December 19, 2020

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Institutional investors are paying close attention to digital assets as Bitcoin (BTC) continues to soar past record-breaking levels, almost reaching the valuation of $24,000 for the first time in its history. Recent findings from a Bank of America–Merrill Lynch survey conducted between Dec. 4 and 10 show that about 15% of fund managers with $534 […]

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Sweden is studying a potential transition to the e-krona CBDC

December 11, 2020

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Sweden is examining the risks and consequences of moving its economy to its e-krona digital currency. 5801 Total views 31 Total shares The Swedish government is progressing with its central bank digital currency, or CBDC, by launching a formal review of a potential transition to the digital currency. According to a Bloomberg report published Friday, the […]

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Ensuring trust in crypto is tough, but audits and transparency go a long way

December 9, 2020

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On Dec. 9, the total market capitalization of cryptocurrencies soared past $535 billion. This is a significant increase from last year, when the cumulative market capitalization of cryptocurrencies was just over $199 billion.  With such impressive growth underway, it shouldn’t come as a surprise that companies operating in the cryptocurrency sector are taking additional measures […]

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Digital ruble will undercut bank profits but help businesses: Bank of Russia

December 7, 2020

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Russia’s central bank wants the digital ruble to help businesses by cutting out financial middlemen. 1466 Total views 23 Total shares Russia’s digital ruble is expected to reduce business costs but could also cut profits for commercial banks, according to Elvira Nabiullina, chairwoman of the Bank of Russia. At a Thursday meeting of “Opora Russia,” a […]

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