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Tether to launch GBPT stablecoin pegged to British pound sterling
22.6.2022
Tether expects to be part of industry innovation in the United Kingdom as the country is planning to adopt stablecoins as a means of payment
Report: Lebanese Pound Exchange Rate Against Dollar Plunges to All-Time Low
31.5.2022
After relative calm for a few months, the Lebanese pound has plunged to an all-time low of 35,600 per dollar, a report has said. The currency’s latest slide is expected to worsen Lebanon’s economic challenges. Pound Depreciation In a sign that Lebanon’s ongoing economic crisis...
While Stocks Rebound, Analysts Discuss Bitcoin’s Decoupling, Gold Markets Remain ‘Under Pressure’
27.5.2022
U.S. equities markets jumped on Thursday as stock traders saw some relief after a number of weekly losses. All the major stock indexes rebounded after falling for nearly eight weeks in a row, while the crypto economy took some losses on Thursday, losing roughly 4% against the U.S. dollar during...
Report: Lebanon Planning to Devalue Currency by 93%, Depositors to Lose $38 Billion
9.2.2022
The Lebanese government is reportedly planning to devalue the local currency by up to 93% in a desperate bid to receive funding from the International Monetary Fund (IMF). As part of the plan, a major portion of foreign currency deposits in the banking system will be converted into local currency...
Bank of England Hikes Bank Rate to 0.5%, Governor Andrew Bailey Hints at Wage Restraints
4.2.2022
The Bank of England (BOE) raised the country’s benchmark bank rate from 0.25% to 0.5% this week in order to curb rampant inflation. “We face a trade-off between strong inflation and weakening growth,” the British central bank’s governor Andrew Bailey told the press....
British Lawmakers Say a CBDC Is Likely to Hurt Financial Stability — Digital Pound Benefits Overstated
14.1.2022
According to British lawmakers, a central bank digital currency (CBDC) is likely to raise the cost of borrowing while hurting financial stability. They insist the touted potential advantages of a digital pound are being overstated. Erosion of Privacy British lawmakers have said the use of a central...
UK Economic Affairs Committee unconvinced by prospect of retail CBDC
13.1.2022
A new report highlights private-sector innovation and greater financial inclusion with CBDCs, but raises concerns around the descending hegemony of the U.S. Dollar
Axi’s UK Branch Ends FY21 with £1.9m Net Profit & 46% Growth
10.12.2021
AxiCorp Ltd, Axi’s London-based subsidiary, recently released its funds report for the fiscal year 2021. The report covered the period till June 30th and showed a whopping 46% growth. As a result, the company generated over 1.9 million pounds for business in the UK. Moreover, the company’s turnover...
Bank of England sees CBDCs as a revolution for the future of money
23.11.2021
The Bank of England estimates that 20% of retail and consumer deposits could potentially move toward CBDCs
UK Treasury and central bank will consult on CBDC, potentially launching by 2030
9.11.2021
"The earliest date for launch of a U.K. CBDC would be in the second half of the decade,” said the Bank of England, adding no final decision has yet been made
Pound and Euro Receive Focus on the Economic Calendar
25.10.2021
The economic calendar witnessed a quiet week as there were hardly any statistical changes in market dynamics. The price of the Aussie Dollar has increased to $0.7470, while the value of the Kiwi Dollar dropped to $0.7153. The price of the Japanese Yen fell by 0.05% against the price of the...
Digital Pound Foundation launches to promote CBDC development in the UK
14.10.2021
The think tank wants to ensure the United Kingdom keeps pace with the developments in the emerging digital landscape
Bitfury Is Said To Be Valued 'In Billions' as IPO Rumors Reemerge
11.10.2021
ank" rel="noopener noreferrer" href="https://www.telegraph.co.uk/technology/2021/10/10/bitcoin-mining-giant-plots-billion-pound-float/">reported, claiming it has obtained information suggesting the offering could have a “price tag in the billions of pounds.”Bitfury, which is headquar
CMC Markets Expecting 126 Million Pound Operational Income
8.10.2021
CMC Markets is a UK-based brokerage group founded in 1989. It offers trading instruments and betting solutions to clients. The trading can be done in forex, cryptocurrencies, shares, commodities, etc. As per 2021 CMC Market reviews, it is a well-known and established broker in the UK, listed...
New NFT Collections Loot for Adventurers, MAYC, Inertial Moment Make Serious Headway in Sales
5.9.2021
During the last few weeks, non-fungible token (NFT) collections like Cryptopunks, Axie Infinity, Art Blocks, Bored Ape Yacht Club (BAYC), and Meebits have been seeing massive volumes. However, a number of new NFT collections are making headway in sales and the Ethereum-based roleplaying game called...
Poll shows Brits concerned over prospect of digital pound
24.8.2021
In a recent survey, British adults expressed concerns of personal privacy and government interference on the prospect of a government-backed digital currency
Lebanese Economy Crashes to New Lows – In Less Than Two Years Nation’s Currency Lost 90% Against the US Dollar
14.6.2021
The Lebanese pound dropped to a new low on Sunday against the greenback trading in the low 1,500s range to the U.S. dollar. Lebanon’s currency has been in a downward spiral since 2019, as the pound has lost 90% of its value since then. Reports note that Lebanese citizens are facing shortfalls...
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
Can a digital pound CBDC retake London’s financial hub status post-Brexit?
9.4.2021
Could a digital pound accelerate Britain's growth post-Brexit and retake London's status as the European financial hub?
The Economics of the Poet Ezra Pound: What Is Money For?
31.1.2021
Ezra Pound in 1920. The American poet Ezra Pound was never short of things to say, especially with regard to economics. While his literary contributions are unmatched, his economic ideas were largely discarded by his contemporaries, especially as he began to lean towards fascism in the latter part...