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Switzerland’s Sygnum Crypto Bank Launches Swiss Franc-Backed Stablecoin to Facilitate Trading of Financial Assets
Sygnum, a Swiss-based crypto bank, has launched a fiat-based stable coin, DCHF token, tied to the Swiss Franc, in an effort to increase transaction efficiency by enabling faster payment when trading financial assets.
Central Bank of Nigeria Bans Cryptocurrency Transactions, Says Crypto Breeds Illegal Activities
The Central Bank of Nigeria (CBN) has once again doubled down on its efforts to ban cryptocurrency transactions stating they are a breeding ground for illegal activities.
Fed Slashes Interest Rate to Near Zero and Launches 700Bn QE, Bitcoin Hovers Near $5k
In an attempt to stimulate U.S. economy amid coronavirus pandemic, the Federal Reserve (“the Fed”) decided to slash the main interest rate to near zero together with the purchase of $700 billion Treasury securities.
Estonia's Central Bank Launches Research Project into CBDC
Estonia’s Central Bank also known as Eesti Pank has launched a multi-year research project into central bank digital currencies.
Utrust Joins Hand With Alternative Airlines To Ensure Secure Crypto Payments For Users
Utrust, a blockchain-powered payment technology that enables online businesses to accept cryptos.
Ghana Confirms Its Interest in Piloting Central Bank Digital Currency
Ghana has confirmed that it is on the hunt for a Central Bank Digital Currency (CBDC). The Bank of Ghana’s deputy governor, Dr. Maxwell Opoku-Afari, recently revealed that the country’s central bank remains committed to piloting a national digital currency. He made such remarks during a virtual stakeholder workshop on payment systems and services as reported by GhanaWeb local news outlet.
Coinbase Custody Launches New International Institutional Grade Crypto Service to European Clients
With its operations based in Dublin, Ireland, Coinbase Custody launched its institutional-grade crypto asset storage service to clients in Europe. The cryptocurrency exchange launched Coinbase Custody in 2017 for institutional clients such as hedge funds and family offices. Its assets under management have over $7 billion in cryptocurrency assets, with its acquisition of Xapo’s institutional custody business in August 2019.
National Bank of Egypt Delves into Blockchain-Powered Inward Remittances with Ripple Partnership
Egypt’s biggest and oldest bank, the National Bank of Egypt, seeks to revamp its inward remittances with blockchain technology. As a result, the bank has entered a partnership with Ripple to use its blockchain-powered payments network RippleNet to offer cost-friendly and quicker cross-border payments.
Hong Kong’s Central Bank and Bank of Thailand Announce Results of Blockchain-Based CBDC Study
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand published the results in a research report of the Project Inthanon-LionRock, by the two central banks on the application of central bank digital currencies (CBDCs) on cross-border payments. In May 2019, the two authorities signed a Memorandum of Understanding (MoU) on fintech collaboration, as Thailand is one of Hong Kong’s top 10 principal trading partners.
Mastercard Launches Virtual Platform to Help Governments Test CBDCs
Payment giant Mastercard has unveiled a virtual platform that will enable central banks to assess and explore Central Bank Digital Currencies (CBDCs).
Bank of Lithuania Launches First Blockchain-Based Digital Collector's Coin As Test for CBDC
The Bank of Lithuania has launched the first central bank-produced digital collectors coin dubbed “LBCOINS” as part of its trial of blockchain technology and testing in its development of central bank digital currencies.
Malaysia’s Largest Bank Signs Blockchain Partnership for Remittance
The largest bank in Malaysia Maybank partnered with the National Bank of Cambodia to sign MoU for cross-border remittance using NBC’s blockchain-based Bakong payment system.
