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A U.S. license allowing transactions with key players in Russia’s financial system expires on Oct. 12. This could make it harder and more expensive for Russian businesses to trade with China in yuan. The yuan is currently the most traded foreign currency in Russia after Western sanctions and Russia’s de-dollarization efforts. Chinese banks are wary … Read more
The Reserve Bank of Zimbabwe (RBZ) has devalued the Zimbabwe Gold (Zig) by 44%, causing the currency to plummet from 13.98 to 24.3 against the U.S. dollar. This drastic move addresses rising exchange rate volatility and inflationary pressures that have plagued the economy since August. According to RBZ Governor John Mushayavanhu, the decision was necessary … Read more
Blackrock has announced its backing of a new stablecoin, UStb, launched by Ethena Labs. Supported by Blackrock’s BUIDL fund, UStb is designed to provide a reliable alternative in the stablecoin market, leveraging investments in U.S. dollars, short-term Treasury bills, and repurchase agreements. Ethena Labs has partnered with Securitize to facilitate the launch, aiming to enhance … Read more
Dubai’s Virtual Assets Regulatory Authority (VARA) has implemented stricter regulations for crypto companies to enhance investor protection and ensure transparency. The new rules require firms to include risk warnings in marketing materials, obtain necessary licenses, and adhere to compliance standards. These measures aim to inform investors about the risks and volatility of cryptocurrencies, while fostering … Read more
Worldcoin, the biometric identification project, and its parent company, Tools For Humanity (TFH), have been fined by the Personal Information Protection Commission (PIPC), South Korea’s data protection agency, for violating the Personal Information Protection Act. According to local media, Worldcoin did not inform data collection subjects about the collection and use purposes, retention and use … Read more
According to a Chainalysis report, the Middle East & North Africa (MENA) region has emerged as a significant player in the global crypto market, ranking seventh globally with $338.7 billion in on-chain value received between July 2023 and June 2024. Türkiye leads the region, driven by high consumer engagement and stablecoin adoption amidst inflation, while … Read more
Check Point Research (CPR) has uncovered a new threat: a mobile crypto drainer app found on Google Play. This app, deceptively posing as the legitimate WalletConnect tool, exploited the growing popularity of digital assets and targeted users directly on their mobile devices. Over five months, it achieved more than 10,000 downloads and stole around $70,000 … Read more
Visa has launched the Visa Tokenized Asset Platform (VTAP), a new product designed to help banks issue fiat-backed tokens on the Ethereum blockchain. This platform aims to digitize and automate the trading of real-world assets, such as commodities and bonds, using smart contracts. VTAP provides financial institutions with the tools and infrastructure needed to tokenize … Read more
BitcoinOS (BOS) has open-sourced its BitSNARK verification protocol, marking a significant advancement in blockchain technology. This protocol, which successfully verified the first zk-SNARK proof on the Bitcoin blockchain, enables zero-knowledge cryptography without altering Bitcoin’s core protocol. By facilitating decentralized atomic swaps, cross-chain transfers, and 2-way pegging, BitSNARK opens up new possibilities for Bitcoin to interact … Read more
Piero Coen, co-founder and CEO of Osmo, a Latam-focused bitcoin and lightning network wallet, has announced that they are now bringing their full suite of financial services for customers in Costa Rica. Costa Ricans can top up their wallet using Sinpemovil, a quick cellphone-linked fiat payment method, debit and credit cards. In addition, wallet users … Read more