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The list of failed and obsolete fiat currencies is a lot longer than most people would expect. When it comes to obsolete currencies, there are quite a few to choose from. The following examples are ranked in reverse order of longevity, and failed to make any real impact in the end. #6 Albanian Lek Valute … Read more
An eastern South Korean province plans to issue its own cryptocurrency to replace the local currencies of its nine cities, according to local media. An exchange will be established for the new crypto. The coins can be used for payments within the province and merchants can accept them using smartphone QR codes. Also read: Yahoo! Japan … Read more
Fiat currencies have a far more troubled past than consumers give them credit for. More specifically, some of these currencies have disappeared from the face of the earth in spectacular fashion. World War II, a gruesome and terrible multi-year period, was also responsible for wiping out several currencies. Below are some examples, ranked in terms … Read more
There is a very strong focus on the potential failure of Bitcoin and other cryptocurrencies. As unlikely as that may seem, there are numerous precedents for failed currencies. The following national government-backed currencies, ranked by reversed longevity, have all failed due to hyperinflation issues. 6. Yugoslav 1994 Dinar As the first fiat currency to succumb … Read more
According to the institutional cryptocurrency storage platform Kingdom Trust, the company is now insured by the world’s largest insurance marketplace, Lloyd’s of London. The Kentucky-based alternative asset custody service, Kingdom Trust, claims to hold assets worth $12B that consist of 30 digital currencies under its wing. Also Read: Crypto-Backed Lending Platform Blockfi Approved to Operate in … Read more
Morgan Creek Digital, an asset management firm backed by multi-billion dollar investment advisor Morgan Creek Capital Management, has announced the launch of the Digital Asset Index Fund in partnership with Bitwise Asset Management. Also Read: The Daily: Chinese Crackdown Continues, ICO Head Faces 15 Years in Prison Opening Up Crypto for Pension Funds According to … Read more
Back in July, news.Bitcoin.com reported on the cryptocurrency-backed USD lending platform, Blockfi, which raised $52.5m from investors in an investment round led by Michael Novogratz’s Galaxy Digital. On Monday, Blockfi announced the firm is now servicing residents from California and the latest expansion leads to the crypto-lending service being available in 44 states. Also Read: Novogratz’ … Read more
The Bank of America Corporation has filed with the U.S. Patent and Trademarks Office for a secure means for the storage and custody of cryptocurrencies. The filing describes a system for recording and storing data pertaining to cryptocurrency transactions designed for enterprises. Also Read: UK Banks Freeze Company’s Accounts After Owner Traded on Localbitcoins Bank of … Read more
Japan’s top financial regulator says it does not intend to excessively curb the crypto industry. Licensed Japanese crypto exchange Quoine is launching a new platform with “enhanced price matching and deeper liquidity.” Meanwhile, a new association has been established for crypto practitioners. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Quoine Launches New Platform … Read more