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Crypto.com has secured a payment service provider (PSP) license from the Central Bank of Bahrain (CBB). This license allows the crypto exchange to offer e-money and fiat-based payment services, including its prepaid cards, in the region. The approval adds to Crypto.com’s growing list of regulatory approvals worldwide, further solidifying its global presence. Meanwhile, Amber Group’s … Read more
The DLT Science Foundation (DSF) has announced its support for the launch of the MiCA Crypto Alliance, with Hedera, Ripple, and Aptos Foundation as founding members. This industry association aims to streamline and enhance compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulation, fostering a sustainable and compliant crypto ecosystem. The MiCA regulation, set … Read more
Crypto-friendly digital bank Revolut is set to launch its own stablecoin, marking a significant expansion of its crypto offerings. This move positions Revolut alongside major players like Paypal, Ripple, and Bitgo in the highly competitive stablecoin market. The London-based fintech company, which holds a UK banking license, aims to ensure compliance and safety with this … Read more
Chinese authorities’ recent actions to define crypto as a money laundering tool could influence the performance of its billion-dollar gaming industry. SCMP’s Hugh Harsono argues that these measures may affect games like Metacene, which has introduced cryptocurrencies as in-game currency. In addition, games that include play-to-earn components and non-fungible tokens (NFTs) could also be impacted … Read more
A U.S. lawmaker is calling for the release of a detained Binance executive in Nigeria. Representative James Hill believes the executive, Tigran Gambaryan, has significantly contributed to combating cybercrime in the U.S. and should not be abandoned. Hill expressed concern that the continued detention could strain diplomatic ties between the U.S. and Nigeria. Hill urged … Read more
DBS Bank, Singapore’s largest bank, has announced plans to launch over-the-counter (OTC) crypto options trading and structured notes for institutional clients in Q4 2024. This new offering will allow institutional investors to gain exposure to bitcoin and ethereum, the two largest cryptocurrencies by market capitalization. The initiative aims to provide sophisticated tools for managing digital … Read more
On Wednesday, the U.S. Federal Reserve lowered its benchmark interest rate for the first time since March 2020. The Sept. 18, 2024 rate cut amounted to 50 basis points (bps), a notably bigger adjustment than many analysts anticipated. According to the Federal Open Market Committee (FOMC) press release, the central bank remains focused on reaching … Read more
Non-Fungible Token (NFT) project Doodles has announced a collaboration with Spin Master to celebrate the 50th anniversary of the Rubik’s Cube. This partnership will introduce a “pack ripping” fan experience, where participants can unlock both physical and digital collectibles. Among the collectibles is a unique diamond-encrusted Rubik’s Cube from Eliantte & Co. The initiative also … Read more
Bitgo plans to launch its new stablecoin, USDS, in January 2025, offering a unique model that rewards liquidity providers. The announcement was made by Bitgo CEO Mike Belshe during an interview with Coindesk at the Token2049 event in Singapore. The stablecoin will be backed by U.S. Treasury bills, overnight repos, and cash, aiming to create … Read more
BNB Chain has announced new developments aimed at becoming the core infrastructure for stablecoin payments and digital financial transactions. This initiative focuses on gasless transactions across centralized exchanges, wallets, and bridges, making stablecoin payments faster, cheaper, and more accessible. Gas-free transfers for USDT, USDC, and FDUSD will be supported. Key partnerships with exchanges like Binance, … Read more