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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 bank digital currency when making regular payments could … Read more
The cryptocurrency firm FTX has announced the launch of a $2 billion venture capital fund called FTX Ventures. The fund’s focus will be on advancing blockchain and Web3 technology alongside investments in “social, gaming, fintech, software, and healthcare.” FTX Reveals $2 Billion Venture Capital Fund, Hires Lightspeed Partner Amy Wu FTX Trading Limited has announced … Read more
Revolut, a leading fintech platform and neobank, has received a special banking license to operate in Spain. User deposits are now insured up to €100K, with the coverage being provided by Deposit and Investment Insurance, a Lithuanian state company. The company, which now has over 800,000 customers in Spain, expects to grow its userbase with … Read more
The British payment platform said it will use funds to further crypto payment processing. Go to Source Powered by WPeMatico
Fintechs account for nearly two-thirds of the $4.9 billion that was raised by African technology firms during the past year. Fintech groups also dominate in terms of funding that exceeds $50 million, with a 40% share of the total number of tech firms. The Covid-19 Factor Out of the $4.9 billion in funding that was … Read more
On Monday, January 10, the Argentina-based mobile wallet company Belo announced that the platform has added support for the Lightning Network by partnering with the bitcoin payment processor and infrastructure provider Opennode. The mobile application allows users to trade and transact in pesos and now users can transact with bitcoin payments going forward. Belo Partners … Read more
N26 co-founder says rushing for a global expansion has caused N26 to drop behind in crypto and equities trading. Go to Source Powered by WPeMatico
China’s social media giant, Wechat has said it will support the digital yuan in a move that is expected to increase the of Chinese residents that use the central bank’s digital currency (CBDC). Wechat’s support of the digital yuan potentially avails the digital currency to the social media’s 800 million active users. New App Provides … Read more
The Jamaican central bank successfully completed the pilot testing of its central bank digital currency, a statement from the bank has said. The statement however reveals that only one payment service provider participated in the pilot. Only One Payment Provider Participated in the Pilot The Bank of Jamaica (BOJ) recently revealed that it had successfully … Read more
SWIFT, the Belgian-based cooperative that serves as an intermediary and settlement executor of financial transactions between banks worldwide is planning to experiment with asset tokenization in 2022. In a blog post about the subject, SWIFT notes that it will be working with firms like Clearstream, Northern Trust, and SETL to explore “the feasibility and benefits” … Read more