Non-digital currencies issued and backed by the jurisdictions of various regions. Examples include the US dollar, British pound, Euro, Chinese Yuan, and Japanese Yen.
Related Posts (Tag: fiat currency)
South Korea Passes Comprehensive Law Officially Legalizing Cryptocurrency Trading And Holding
A day after India’s Supreme Court lifted the ban on cryptocurrencies, South Korea has followed in their footsteps as the nation’s National Assembly has amended the Act on Reporting and Use of Specific Financial Information. This move fully legalizes cryptocurrencies in South Korea.
US Court Indicts Alleged Lazarus Group Members in $250 Million Crypto Exchange Theft
Two Chinese nationals, Tian YinYin and Li Jiadong were sanctioned yesterday by the US Government yesterday for their alleged involvement in laundering stolen cryptocurrency from a 2018 cyberattack. The pair have been charged with stealing nearly $250 million in virtual assets and laundering the money through converting BTC to USD and Chinese Yuan as well as through iTunes gift cards.
Insurance Firms in China and Hong Kong Count on Blockchain to Fast Track Wuhan Coronavirus Claims Amid Outbreak
Xiang Hu Bao, an online mutual aid platform, a subsidiary of Ant Financial, is a “collective claims-sharing mechanism built on blockchain that offers basic health plans to its 104 million participants.” Most of its users are Chinese citizens from lower-tier cities, and in rural areas. By utilizing blockchain technology, settlements have been made more efficient, and fraudulent claims have been reduced.
R3 Corda Reignites Enterprise Blockchain Race with Own Token Standard
Powered by R3, Corda announced the launch of Token SDK 1.0, which allows the creation of native tokens on the Corda blockchain platform. Corda’s medium reported on 15 July.
Ethereum Co-Founder on Facebook Libra: “A Centralized Wolf in a Decentralized Sheep’s Clothing”
Ethereum co-founder Joseph Lubin is the latest critics on the centralization concern of Facebook’s Libra coin.
Exclusive: How to Reach the Unbanked for Financial Inclusion?
One of the main visions for using blockchain is to facilitate financial inclusion, which can be achieved by reaching the unbanked population! However, it’s not easy to reach them even for giants like Amazon! Darren Lu, CEO of Vodi explained to us the challenges in reaching the unbanked and how Vodi facilitates financial inclusion. He also revealed the latest plan of Vodi going forward!
Withdrawing Fiat in UK ATMs Using Coinbase Card!
Coinbase – a major American cryptocurrency exchange has partnered with Apto Payments to launch a new Visa debit card (Coinbase Card), which allows users to withdraw fiat currency via ATMs in the UK!