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Reserve Bank of Fiji Says Crypto Not Recognised as Legal Tender


The central bank of the Pacific island country of Fiji has released a note to the public cautioning that investment in cryptocurrencies and virtual assets such as Bitcoin, Ethereum, Tether are not recognised as legal tender in the country. The post Reserve Bank of Fiji Says Crypto Not Recognised...

Bank of Russia Supports Cryptocurrency Usage for International Settlements


The Bank of Russia has announced that it will support accelerating the adoption of cryptocurrency payments for international settlements. According to Elvira Nabiullina, governor of the Bank of Russia, these crypto-based payments must be launched in a sandbox-style experimental regime. In contrast...

HSBC Looks To Broaden Tokenized Asset Offerings after Gold Token Launch


HSBC, one of the world’s largest banking services, intends to broaden its array of tokenized assets. CEO Noel Quinn said the bank will ensure these offerings are firmly anchored in reality. The post HSBC Looks To Broaden Tokenized Asset Offerings after Gold Token Launch appeared first on Cryptonews

Uncertainty Over Fed Rate Cuts Intensifies With Sticky Inflation Metrics


As each day unfolds, analysts, economists, Wall Street institutions, and Fed watchers have increasingly postponed their forecasts for when the U.S. Federal Reserve will reduce the benchmark interest rate. Current data suggest that a rate cut in June is unlikely, with odds standing at 50-50 for...

HBAR Foundation shares how Shinhan Bank and SB Group used the network


HBAR Foundation has shared insights about how Shinhan Bank and Standard Bank Group leveraged their capabilities to drive the pilots of stablecoin. The Foundation is majorly known for hosting the Hedera Governing Council. The Council’s core functions include network governance, node...

Clearstream ventures into DLT for bank money clearing in ECB trials


Clearstream has recently become a part of ECB(European Central Bank) trials to explore DLT for money settlement. They are the only depository to join the first phase of the trials. These tests are conducted in the current context of the advance of a digitally powered Euro. Digital post-trade...

Brazilian BV Bank Tests Tokenized Model for Vehicle Sales


BV Bank, a Brazilian bank leader in vehicle loans, is running a pilot that uses tokenization to manage vehicle financing and sales operations. The first phase of the tests involves automating consumer-to-consumer vehicle sales processes, including the delivery of tokenized money in exchange for...

Hong Kong’s ZA Bank to Offer Custody Accounts for Stablecoin Issuers


ZA Bank, a virtual bank in Hong Kong, will offer cash custody accounts for institutions that want to issue stablecoins. The organization is in talks with several parties seeking to issue their stablecoins, and this service would be available for them after receiving a license from the Hong Kong...

Russian Fintech Startups Join Digital Ruble Pilot


Russian fintech firms have begun joining the country’s rapidly progressing digital ruble pilot as the Central Bank looks to widen the scope of its CBDC project. The post Russian Fintech Startups Join Digital Ruble Pilot appeared first on Cryptonews

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