Russia to Allow Foreign Residents to Own and Use Digital Ruble

The central bank of Russia intends to ensure that the digital ruble is convertible to foreign currencies and can be used by non-residents. In a document devoted to the digitalization of the Russian financial sector, the regulator reiterates its concerns over the risks associated with cryptocurrencies and insists that state-issued digital currencies are safer. Bank … Read more

Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC Trial

Bank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have successfully tested the application of wholesale central bank digital currency in cross-border payments. The project used distributed ledger technology and was realized with help from private firms. France and Switzerland Explore Direct Transfer of Euro, Swiss Franc Wholesale Digital Currencies … Read more

Visa Launches Crypto Advisory Services — Says ‘Digital Currencies Are Taking Greater Hold in Popular Consciousness’

Payments giant Visa has launched global crypto advisory services. The company’s executive says: “We’ve seen a material shift in our clients’ mindset in the last year, from a desire to explore and experiment with crypto, to actually building a strategy and product roadmap.” Visa’s Global Crypto Advisory Services Payments giant Visa announced Wednesday the launch … Read more

Amex, Visa, Citi, Paypal Invest in Crypto Transaction Monitoring and Forensics Platform

American Express’ Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.), and Paypal Ventures are among investors in the latest funding round of crypto transaction monitoring and forensics platform TRM. Amex, Visa, Citi, Paypal Invest in TRM Platform Crypto transaction monitoring and forensics platform TRM announced Tuesday investments … Read more

Bank of Russia Rejects Provision of Crypto-Related Financial Services

Russia’s central bank has voiced opposition to the provision of financial services related to cryptocurrencies. The monetary authority believes such offerings would go against the interests of Russian investors as they are highly risky. Central Bank of Russia Unwilling to Allow Financial Services for Crypto Assets The Central Bank of Russia (CBR), known for its … Read more

El Salvador’s President Tells Peter Schiff Benefit of Switching Gold Reserves to Bitcoin

The president of El Salvador, Nayib Bukele, has revealed that his country holds 44,106 oz. of gold in its reserves that has lost some value over the past year. He told gold bug Peter Schiff that if El Salvador had sold its gold and bought bitcoin last year, it would now be worth $125 million … Read more

ECB Paper Marks Success Factors for CBDCs, Digital Euro

A paper published by the European Central Bank (ECB) discusses various conditions for successful implementation of central bank digital currencies (CBDCs) such as the eurozone’s own digital euro. The authors also point to different risks that such projects entail, like the danger of crowding out the private sector. ECB: Digital Euro Should Be Widely Used … Read more

Blockchain.com Acquires Latin American Crypto Investment Platform Sesocio

On November 30, the crypto firm Blockchain.com announced it acquired the Argentina-based investment platform Sesocio. According to the firm, the acquisition will give the company’s global workforce an aggregate headcount of 400 Blockchain.com employees worldwide. Blockchain.com’s Global Headcount Grows to 400 After Acquiring the Crypto Investment Platform Sesocio At the end of March, Blockchain.com raised … Read more

Grayscale Launches Solana Trust — Company Now Manages $54 Billion Across 16 Crypto Investment Funds

Grayscale Investments has launched a solana trust. The company now has nearly $54 billion in total assets under management. The new trust, which is the company’s 16th crypto investment product, will solely invest in solana (SOL). The CEO of Grayscale said that investors are increasingly “diversifying their exposure beyond digital assets like bitcoin and ethereum.” … Read more