“No major central bank intends to implement a retail CBDC in the near term. However, the debate about wholesale CBDCs has moved on from questions of feasibility to practical considerations,” the report read. Majority Prefers Wholesale CBDC IBM and OMFIF rested the survey on how wholesale CBDC could be developed, tested and issued on a …
Mongolia has taken a significant step forward toward bolstering its fintech sector, with the East Asian country’s central bank authorizing a local telecom operator to issue a digital currency under the country’s recently-passed national payment system bill. As first reported by state-owned news agency Montsame, the Bank of Mongolia on Friday issued its first-ever digital …
To many, cryptocurrency is a way of securing financial independence from banks and governments. Those interested in going off-grid, distancing themselves from authority, and even “preppers” who believe that major catastrophe is coming any day share many of the values of hardcore crypto advocates. One point of contention is blockchain’s reliance on the power grid …
BitPesa, a digital treasury management solution that leverages blockchain settlement to lower the cost and improve the speed of payments to and from frontier markets, has teamed with SBI Remit, Japan’s largest remittance service provider, to make it easier for Africans to buy Japanese products. The two firms are leveraging blockchain technology to reduce …
Just like has already happened with the US Dollar and the Euro, among others, Australia is about to get its first Aussie-backed stablecoin. This will be made possible by a partnership between Bit Trade, one of the oldest cryptocurrency exchanges in Australia, and blockchain employment platform, Emparta. The two firms will collaborate in designing and …
The Central Bank of Curacao and Sint Maarten (CBCS) has announced a partnership with blockchain technology firm Bitt aimed at exploring the issuance of a digital currency for Curacao and Sint Maarten island nations. Per the chief executive of Bitt, Rawdon Adams, a digital currency will be especially relevant to the two countries, which are …
The New York State Department of Financial Services (DFS) has stated its opposition to the U.S. Department of Treasury’s endorsement of regulatory “sandboxes” for fintech companies that essentially allow fintechs to receive special bank charters, according to a statement on its website by Maria T. Vullo, DFS superintendent and overseer for the state’s BitLicense regime. The …
The Hong Kong Monetary Authority (HKMA) has partnered with Chinese Ping An to release a blockchain-based trade finance platform. The joint effort is expected to speed-up the process and prevent fraud. CCN first reported the Hong Kong’s de facto central bank’s initiative back on March 30. At the time, the bank unveiled a proof-of-concept (PoC) …
If established cryptocurrency exchanges didn’t take notice when commission-free trading app Robinhood started offering free cryptocurrency trading earlier in the year, they are likely to now. According to a job advert which appeared on the website of recruitment consultants, Greenhouse, Robinhood is reportedly working on a cryptocurrency wallet of its own. This would allow Robinhood’s …
Join our community of 10 000 traders on Hacked.com for just $39 per month. Iran and Russia could turn to cryptocurrency as a solution to evade Western financial sanctions and reduce their dependence on the US dollar. Iran has been struck by a monetary crisis in recent months after its fiat currency, the rial, plunged …