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Decentralization is the final frontier for CBDCs
25.4.2021
Decentralized CBDCs will most likely pique the interest of the masses much more than their centralized counterparts
OCC Grants Crypto Firm Paxos ‘Conditional Approval’ for US Bank Charter
24.4.2021
The digital currency and stablecoin issuer Paxos has been granted conditional approval for a bank charter under the Paxos National Trust in New York. The U.S. Office of the Comptroller of the Currency issued a preliminary conditional approval which means the regulating entity still has to authorize...
Paxos receives ‘preliminary conditional approval’ for US bank charter
23.4.2021
The stablecoin issuer has nabbed a banking license, but it doesn't mean they'll be doing any banking in the traditional sense
Norway to start digital currency tests after four years of research
23.4.2021
The Norwegian central bank aims to find a preferred CBDC solution through new technical tests
Egypt’s Growing P2P Volumes Being Driven by Crypto Traders Under the Age of 34
23.4.2021
A recent market report by Localbitcoins suggests that traders or holders under the age of 34 are driving crypto volumes in Egypt. This rise in Egyptian crypto transactions is evidenced by P2P data which shows the crypto asset’s weekly traded volumes averaging $205,000 in much of Q1 of 2021....
Nigerians Shun Local Currency— Seek to Protect Wealth From Inflation and Currency Depreciation with Foreign Currency
23.4.2021
Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use...
Report: Banking Giant Natwest to Refuse Service to Businesses That Accept Cryptocurrencies
23.4.2021
The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk” and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has...
Wallex Bank: Launching The Next Level Asset and Digital Asset Ecosystem
22.4.2021
Wallex Trust & Custody, a fintech company based in the USA and Europe that offers trust and custody services among its clients across borders notably in Europe, Asia, and Africa, has announced it has received a banking Crypto and Insurance license issued by the Comoros International Banking...
Another UK bank serves anti-crypto notice to customers
22.4.2021
U.K. commercial bank NatWest says it does not want to do business with clients and customers who deal in crypto
China's digital yuan could be a fatal blow for Macau casino junkets
22.4.2021
Macau's casino junket operators have already been on the rocks during the coronavirus pandemic, and some fear that they could be “faded out” following the introduction of a fully traceable digital yuan
Binance has appointed new head of ‘Greater China’
21.4.2021
It’s not entirely clear when Terence Zeng assumed his leadership role, though the appointment appears to have been recent
Expert explains why Britain needs a digital pound
21.4.2021
One of the contributors to the Bank of England's preliminary CBDC research tells us why a digital pound is neccessary in the United Kingdom
Another South African Company Reveals Plans to List a Crypto ETF on Local Stock Exchange
21.4.2021
Fresh reports from South Africa suggest another local company, Sygnia, is set to apply to the Johannesburg Stock Exchange (JSE) to list a new cryptocurrency exchange-traded fund (ETF). This application will be the second time Sygnia has attempted to list the crypto ETF. A similar application...
Nigeria Money Printing Controvesy: CBN Governor’s Remarks Attacked, Government Denies It Financed Deficit via Money Printing
21.4.2021
The fallout sparked by reports that the Central Bank of Nigeria (CBN) printed over $150 million for states’ funding continued a few days after the allegations were initially made. In the latest twist, the opposition People’s Democratic Party (PDP) vice-chairman Dan Orbih said the...
First Bank Caps Remittances in Bid to Block Kimchi Premium Opportunists
20.4.2021
One of South Korea’s biggest commercial banks, Woori, has fallen into line with government efforts to restrict the flow of money overseas in crypto purchases by imposing limits on remittances made to individuals and companies based in China.
Woori was the first to blink after the government...
Oracle Service API3 Partners With the Open Banking Project, Plans to Connect 400 Banking APIs to Blockchain
20.4.2021
On Monday, the oracle provider API3 announced a ten-year partnership with the Open Bank Project in order to connect more than 400 banking APIs to blockchain smart contracts using API3’s Airnode. The collaboration between API3 and the Open Bank Project aims to bridge conventional banking with...
Morgan Stanley Says Central Bank Digital Currencies Not a Threat to Cryptocurrencies
20.4.2021
Major investment bank Morgan Stanley believes that central bank digital currencies are not a threat to the existence of cryptocurrencies. The bank believes that both types of digital currencies can coexist because they serve different purposes and have different appeals. Cryptocurrencies and CBDCs...
Federal Reserve Bank President Says Bitcoin Is Clearly a Store of Value
20.4.2021
The Federal Reserve Bank of Dallas president says bitcoin is clearly “a store of value.” Emphasizing the differences between cryptocurrencies, like bitcoin, and central bank digital currencies, he said the latter “won’t necessarily be a store of value.” Fed Bank Chief...
China Calls Bitcoin and Stablecoins ‘Investment Alternatives’ for the First Time Since Crypto Crackdown
20.4.2021
After the well-known crypto crackdown launched by the Chinese government four years ago, it seems there is now a change in the tone from the country’s central bank. At least that’s what has been suggested recently by the deputy governor of the People’s Bank of China (PBoC)....
Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce
19.4.2021
Her Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC. UK Entities Invoke a CBDC Taskforce to Explore a Central...