Understanding the systemic shift from digitization to tokenization of financial services
Another hurdle financial services and institutions need to address is mainstream digital asset adoption. Go to Source Powered by WPeMatico
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Zimbabwe’s Biggest Bank Looks at Methods to ‘Leverage Cryptocurrencies’
One of Zimbabwe’s biggest financial institutions, CBZ Holdings says it is looking at ways it could “leverage cryptocurrencies and other emerging digital innovations.” According to the financial institution’s chairperson, Marc Holtzman, CBZ “is open-minded about new innovations, as these could open up new opportunities going forward.” Innovations Opening up New Markets Speaking in an interview … Read more
Tokenization at center of digital money ‘format wars,’ says CitiBank exec
The digital money format war could be won or lost on the battleground of tokenization. Go to Source Powered by WPeMatico
Blockchain-based fintech firm Figure raises $200M
Figure Technologies brings its valuation to $3.2 billion with a new round of funding. Go to Source Powered by WPeMatico
Kenyan Regulator Commends Its Regulatory Sandbox— Says the Test Phase Enables It to Have Interactions With Innovators
According to a new report published by the Capital Markets Authority (CMA) of Kenya, the country’s regulatory sandbox has now received 24 applications, queries, and proposals since March 2019. From this total, only seven firms have been admitted into the sandbox, and “a few more (are now) in the final stages of review.” However, just … Read more
Polkadot announces Kusama is ‘finally ready to host parachains’
The rollout of the Polkadot protocol has been ongoing since August, when the project launched its Rococo testnet. Go to Source Powered by WPeMatico
Kenya Based Technology Firm Switches to Pancakeswap, Cites High Gas Fees on Uniswap
In its bid to help users avoid high gas fees on Uniswap, a Kenya-based fintech firm, UTU, recently launched a liquidity pool on the decentralized exchange (dex), Pancakeswap. This launch enables prospective UTU coin buyers to acquire the token “with low fees and fast confirmation times.” In a statement posted on the firm’s blog, UTU, … Read more
UK will likely need to issue a digital currency, says BoE deputy governor
The Bank of England’s deputy governor has argued that, with the possible rise of non-bank actors issuing currency, public money in digital form could serve as a crucial anchor for confidence in money as a social convention. Go to Source Powered by WPeMatico
Mastercard Payment Index: More Consumers in Three African Countries Plan to Use Crypto Based Payment Methods
According to a recent Mastercard payment index report, the Covid-19 related lockdowns helped spread the use of cryptocurrency in three African countries, namely Nigeria, Kenya, and South Africa. The report also reveals that a greater number of consumers from these countries are “likely to use one emerging payment method in the coming year.” More Respondents … Read more
Bank of Russia Tests Services Related to Cryptocurrencies
Russia’s central bank has examined three platforms offering crypto-related services. The projects have been tested in its regulatory sandbox in the course of 2020. Bank of Russia has received dozens of requests to pilot various financial services since it created the closed regulatory environment around three years ago. CBR Pilots 3 Crypto Projects in 2020 … Read more