100 million XRP transferred from escrow wallet by Ripple
Although Ripple (XRP) has been replaced by the US dollar-backed stablecoin, Tether (USDT) as the third-largest digital currency, this hasn’t stopped the millions of dollars XRP moved. Digital currency exchanges, including Ripple itself, recently moved a large amount of cryptocurrency. Ripple moved 125.5 million XRP According to Whale Alert, a digital currency transaction tracker, the […]
Marshal Island establishes self sovereign identity
Marshal Island is seeking to establish a digital currency as its sovereign currency. SOV, the name of the project is meant to be a gamechanger and could pioneer how state governments respond to pandemics. According to Marshal Island advisor for crypto, the SOV project still faces stiff challenges but the team promised to make it […]
Digital payments infrastructure: DeCurret to join the top three Japanese banks in digital payments exploration
The three largest Japanese banks are setting up a study group to explore digital payments infrastructure. Japanese cryptocurrency exchange platform DeCurret will lead the group and organize the group’s events, such as the group meetings, which are scheduled to take place twice a month. Japan is considering the option of creating a common digital payments […]
China’s digital currency could undermine Bitcoin, US dollar, and payment systems
The authorities in China are significantly testing and preparing the launch of their long-awaited digital currency (DCEP), although no official date has been announced yet. However, many observers are speculating that China’s digital currency could possess threats against the US dollar, Bitcoin, and other payment systems in the country. China is intensely preparing for DCEP […]
Caitlin Long’s Avanti crypto bank bags $5M in angel round
The Avanti crypto bank or the Avanti Financial Group, a crypto bank formed by one of US’ most pro-crypto politicians, Caitlin Long, has managed to raise $5 million in its angel round funding, an official press release reported on Tuesday. The University of Wyoming Foundation spearheaded this funding round for the Cheyenne-based corporation along with […]
ICE puts $5M bounty on Venezuelan Petro mastermind
The U.S. Immigration and Customs Enforcement’s (ICE), a unit of the Homeland Security Investigations (HSI) New York has put the Venezuelan Petro Mastermind on America’s Most Wanted list with a $5M bounty for whoever has information that can lead to his arrest. This was announced on Monday. Joselit Ramírez, the Venezuelan Petro mastermind, is believed […]
Bitfinex hackers move 800,000 dollars worth of stolen Bitcoin
Bitfinex hackers have moved another portion of the stolen 120,000 Bitcoin from the hack to another Bitcoin wallet. Whale Alert’s Twitter handle reported that Bitcoin worth nearly 800,000 dollars ($796,638) was transferred from Bitfinex hack to an unknown wallet. The exchange was hacked in 2016 and nearly 120,000 BTC were stolen from the exchange. Bitfinex […]
Tether announces OMG-based USDT to ease burden on Ethereum
The US dollar-backed stablecoin, Tether (USDT), has been reportedly launched on the OMG Network, previously dubbed OmiseGo. Through OMG-based USDT, Tether hopes to reduce the stress on the major blockchain, Ethereum, while also running with a cheaper transaction fee. Bitfinex delegates some volume of USDT to OMG Network Based on plasma, OMG Network is a […]
Consumer payments: Central banks set to adopt stablecoins
With a larger part of the United States of America population still awaiting their COVID-19 stimulus paychecks, suggestions have been flying around as to why a central bank digital currency is not yet in use across the country. The Economic Impact Payment, the firm saddled with the responsibility of making sure everyone gets their stimulus […]
Chinese digital currency to launch early as post-COVID-19 stimulus
The launch of the Chinese digital currency could be geared up to serve as a stimulus for the residents amid the Coronavirus pandemic. Part of the reason for the early launch of the digital currency is also to curb the potential threats by the United States on the country’s financial institutions. China digital currency to […]
France becomes first country to debut a Blockchain based digital euro trial
Amid the ongoing pandemic that is escalating across the globe, central banks are doing what can be classified as the toughest times of their lives. Aside from the fact that they have to work overtime to pump cash into the economy to salvage it from the biting consequences, they have been saddled with the responsibility […]
Facebook Libra project boosted by Singapore Temasek and 2 other Investors
The Facebook Libra project continues to gain more traction after Singapore-based investor Temasek joined its platform. The Libra stablecoin is designed to be backed by several fiat currencies. The project has not gone too well as regulators fear of disruption in the current financial industry. Temasek Holdings becomes the latest investor to support the controversial project. […]
Visa digital dollar patent application revealed
Visa digital dollar is in the offing, the U.S. Patent and Trademark Office has revealed. Visa is working towards creating a digital currency that will be powered by a decentralized computer. This will ride on the blockchain technology and the patent will not only cater to the dollar but other major fiat currencies. If granted, […]
Mauritius CBDC pilot check to begin soon
Harvesh Seegolam, governor Bank of Mauritius, has said at a distributed virtual conference that the country would begin its pilot check to launch a Central Bank Digital Currency (CBDC) soon. He said currently, before Mauritius CBDC, the bank is working on a project and will soon make an announcement as regards a potential CBDC. The […]
ECB to focus more on retail CBDCs, and not for business case, Mersch
The European Central Bank will focus more on the release of retail CBDCs than any other business aspect attached to it. Yves Mersch, one of the bank’s board members, revealed the development on Monday during the virtual Consensus 2020. According to Mersch’s statement, the central bank’s plan to release a digital currency is originally not […]
Paul Tudor Jones: Seriously focus on bitcoin, a green light for investors?
Paul Tudor Jones, one of Wall Street’s seasoned hedge fund managers, recently revealed in an interview that one of his funds holds a low single-digit percentage in Bitcoin futures. He recently advised people to “stop thinking of old ways of doing things and seriously focus on Bitcoin”. Paul Tudor Jones tip for other investors Jones […]
Stablecoins set to ramp up cross-border transactions
In a recent interview with Pymnts.com Gilded CEO Neal Roche said that stablecoins are ramping up the cross-border transactions as stablecoins continue to simplify the transition to new technology. Today, easing of global trading restrictions make it very easy for any business to go global. And any company that manages an international workforce or engages […]
Swipe debuts Samsung crypto payment via new partnership
Samsung, the electronics giant company, has announced support for cryptocurrency payment on its digital payment platform dubbed Samsung Pay. The new Samsung crypto payment support was achieved in partnership with Swipe, a digital currency payment platform. Samsung crypto payment support Per the announcement, Swipe inked the partnership on May 1. With the latest Samsung crypto […]
Coronavirus inspires small Italy town to create own currency
Owing to the drastic economic effect of coronavirus in Italy and also a way to survive these hard times, a small Italy town, Castellino del Biferno, with 550 residents, began minting their local currency. The currency dubbed “Ducati” was developed primarily to support the economy of the small Italy town now that COVID-19 pandemic ravages. […]
Digital wallet adoption boosted by COVID-19, former Trump advisor
Digital wallet adoption is set to explode thanks to the lessons learned from the current COVID-19 scourge. According to Gary Cohn, a former Trump advisor; the pandemic is set to speed virtual currency usage. However, he cautions that this will take some time but adds that crypto adorers are turning to adopters Formerly the U.S. […]
Nasdaq partners with R3 to use Corda blockchain for digital assets management
American stock exchange Nasdaq has entered a partnership with r3 to utilize its Corda blockchain for digital assets management. The tech-heavy exchange has become the latest traditional stock market giant to adopt blockchain technology for management of digital assets. The exchange intends on utilizing R3’s Corda ecosystem to develop a marketplace for issuance, trading, and […]
ECB explores Digital Euro as COVID-19 crisis continues
The European Central Bank (ECB) is exploring options to develop its payments infrastructure and is studying solutions both with blockchain and without. The main cause of this exploration has been the COVID-19 outbreak, which has caused the ECB to worry about its stimulus cash. The ECB is looking for a solution that can ensure that […]
Drop token sale: SEC alleges Dropil founders for defrauding investors in its token sale
The United States Securities and Exchange Commission (SEC) alleged in a Friday announcement that three California residents, Jeremy McAlpine, Patrick O’Hara, and Zachary Matar defrauded their investors by lying about the success of their DROP token sale. The SEC alleged that the three falsified financial information about Dropil and lied about the profitability of the […]
LG facial recognition platform to power payments
LG facial recognition platform that revolutionizes how payments are done has been unveiled. The global brand and South Korea electronics manufacturer has been working behind the scenes on digital currency. Backed by an LG digital token, the platform is using the user face to make contactless payments. The pilot project comes at a time when […]
Digital Euro: Dutch central bank wants to play “leading role” in CBDC development
The central bank of the Netherlands, De Nederlandsche Bank (DNB), wants to become the proving ground for the digital Euro. The bank released a 45-page report saying that it was ready to “play a leading role” in the research and the development of its own and a Europe-wide digital currency. Digital Euro A digital dollar […]
Digital currency craze catches up with Dutch Central Bank
The digital currency craze has caught up with the Netherlands Central Bank (DNB). The bank wants to be part of developing and testing the digitalized Euro. There is a significant shift from using fiat and the central bank digital money is planned to cash in on the anticipated boom going forward. Crypto usability has played […]
Facebook Libra revamp insufficient, warns U. S. lawmaker
The Libra Association’s thinned strategy to echelon digital disparity of the current currencies has not satisfied at least one United States lawmaker. The Facebook Libra revamp has not pleased Rep. Sylvia Garcia, who is a member of the Home Monetary Companies Committee. She claimed that the new game plan does not solve the issues she […]
South Africa crypto regulation: Codify 2 international baselines
The financial watchdog has recommended firm South Africa crypto regulations through a road-map which is seemingly what could become the country’s first comprehensive cryptocurrency laws. Additionally, the watchdog suggests that digital currencies “remain without legal tender status.” South Africa’s Intergovernmental Fintech Working Group (IFWG) published a policy paper regarding the flourishing cryptocurrency sector. According to […]
China’s digital currency to be tested with 50% subsidy
Apparently, China is close to launching its digital currency, as many cities are beginning trials. Per the report by Global Times on Thursday, Xiangcheng district is planning to test DC/EP, China’s digital currency, starting with the civil servants. Government employees in Xiangcheng, Suzhou city, will be receiving the country’s digital currency as commuting subsidies. It […]
49 cryptojacking Chrome extensions axed by Google
Google has removed 49 cryptojacking Chrome extensions from its web store which posed as authorized digital currency wallets applications. The extensions contain a harmful code that steals the user’s crypto wallet private keys mnemonic sentence and other raw private data. According to ZDNET, the 49 cryptojacking Chrome extensions were unearthed by the Director of […]
DeFi market dips as crypto industry negatively reacts to COVID-19
As the novel coronavirus pandemic spreads across the world, the DeFi market dips responding to the impacts of the epidemic on the global economy. The entire amount of Ethereum (ETH) under decentralized finance applications is plummeting as the virus ravages the world. Per DeFi Pulse, a decentralized finance data aggregator, the total market cap of […]
Dutch crypto industry incurs $1.8 million in extra costs
The Dutch Ministry of Finance has requested the country’s Central Bank to help in keeping track of the Dutch crypto industry activities. This exercise is not only excessive but also very costly. As members of the European Union enforce the fifth anti-money laundering directive (AMLD5) into law, some of its member nations are exceeding the […]
China blockchain committee of 15 set up for digital yuan standard
The Chinese government together with its federal governments are getting much involved in blockchain technology to accelerate innovation in the entire nation. Recently, the Chinese government published an official notice claiming they had set up an official China blockchain committee, made up of 15 organizations to conceive standards for China’s blockchain and DLT. Moreover, the announcement […]
Japan-based DeCurret crypto exchange rolls out $25 million in new shares
Japan-based DeCurret cryptocurrency exchange, the firm behind the campaign on using digital currencies as a mode of payment for Japan’s giant transportation system, has just restructured its capital. Through a press release published on April 10, DeCurret announced it had rolled out new shares valued at roughly $25 million, in an arbiter allotment of shares. […]
Bitcoin and Asian Market: Two sides of the coronavirus coin
The Bitcoin and Asian market go a long way back, ever since a vibrant ecosystem of Bitcoin ETFs and cryptocurrency derivatives came into existence, gradually reducing the Western dominance on cryptocurrency markets. While there is no denying that the Western hemisphere did enjoy prominence in the mainstream asset market initially, several studies involving extensive cryptocurrency […]
BIS researchers forecast adoption of digital payments amid Covid-19
Bank for International Settlements (BIS) researchers have reiterated reports that the coronavirus could be spread through physical cash; hence, it could eventually result in the adoption of digital payments. Coronavirus pushes adoption of digital payments In accordance with the Bulletin recently released by BIS, the researchers noted that the impact of the virus is slowly […]
Digital dollar warning: Opposite of what crypto is all about – Demirors
Meltem Demirors, the chief strategy officer at Coinshares has issued a digital dollar warning, saying that the digital dollar is totally opposite of what crypto is and what it stands for. It is completely ‘different’ to what the crypto enthusiasts think. Unlike BTC or ETH, the digital dollar will be completely centralized and will be […]
Hawaii introduces digital currency sandbox to draw more investments
On 17th March 2020 Hawaii set its first-ever pilot program for digital currency sandbox in motion to lure more investments in the field. The successful launch was the result of a collaboration between the Department of Commerce and Consumer Affairs, Hawaii Technology Development Corporation (HTDC), and the Division of Financial Institutions (DFI). We are in […]
