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The latest Bank for International Settlements (BIS) survey reveals that 94% of central banks are exploring central bank digital currencies (CBDCs). There has been a notable increase in wholesale CBDC experiments, especially in advanced economies. Central banks are examining various factors for retail CBDCs, including holding limits and offline functionality. 94% of Surveyed Central Banks … Read more
Tether, the issuer of the USDT stablecoin and a leading player in the digital asset industry, has made a strategic investment of $18.75M in XREX Group, a fully regulated, blockchain-enabled financial institution. The investment aims to drive innovation in the digital asset industry and facilitate USDT-based cross-border payments in emerging markets. XREX will use the … Read more
As Project mBridge enters its MVP phase, BIS is inviting private sector firms to propose new solutions and use cases to further develop and showcase the platform’s potential. Go to Source
Financial giant Mastercard has initiated its first real-world application of the Crypto Credential system, a system aimed at facilitating easier and more secure peer-to-peer (P2P) cryptocurrency transactions. The service, which allows users to transfer cryptocurrencies using simple aliases, has gone live across several exchanges in Europe and Latin America. Mastercard Launches Crypto Credential, Aiming for … Read more
Better regulations, greater enforcement and AI are going to be the focus of the Treasury’s fight against illicit finance. Go to Source
The fiat and bitcoin payments app, Strike, has launched its “first fully-featured region outside the U.S.” According to Jack Mallers, the founder and CEO of Strike, the African continent presents “immense opportunities for financial innovation and economic freedom.” High Inflation and Costly Remittances Render Africa a Favorable Market for Strike Strike, a payments app supporting … Read more
A BRICS common currency will be challenging to initiate and maintain, though efforts to dethrone the US dollar could have an impact on Bitcoin, says investment strategist Lyn Alden. Go to Source
Among the 300 payment leaders surveyed across 45 countries, 97% believe that blockchain will play a crucial role in faster payment systems within the next three years. Go to Source Powered by WPeMatico
While the adoption and use cases of China’s e-CNY are expanding, the digital yuan still only represents 0.16% of China’s monetary supply. Go to Source Powered by WPeMatico
Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits to operators employing crypto in foreign trade transactions, he indicated. Russia Plans to ‘Experiment’ With Cross-Border Crypto Payments Amid Sanctions … Read more
