70% of Central Banks are Working on Digital Currencies, No Hurry to Issue Them: BIS

A survey commissioned by the bank of central banks, the Bank of International Settlements, has disclosed that even though Central Bank Digital Currencies (CBDC) are being researched by a big number of reserve banks, the work is mostly conceptual. Consequently, only a handful of them have any intentions of issuing a CBDC in the near The post 70% of Central Banks are Working on Digital Currencies, No Hurry to Issue Them: BIS appeared first on CCN

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Robinhood Didn’t Consult Regulators on New Checking & Savings Account Products

Robinhood, the crypto-friendly stock trading application, recently launched a plan to offer checking and savings accounts. The accounts have a minimum 3% interest. It is part of their plan to become the world’s most used financial technology application. Co-CEO Baiju Bhatt said to CNBC at the time of the announcement: “If we roll this product The post Robinhood Didn’t Consult Regulators on New Checking & Savings Account Products appeared first on CCN

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Marshall Islands President Faces No Confidence Vote amid Plans for a National Cryptocurrency

Marshall Islands President Hilda Heine is under fire and is facing a vote of no confidence amid a bold plan led by her administration to introduce a national cryptocurrency dubbed the Sovereign (SOV). The vote will reportedly occur next week after a group of eight senators including Senator Casten Nemra introduced the motion on Monday with The post Marshall Islands President Faces No Confidence Vote amid Plans for a National Cryptocurrency appeared first on CCN

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Mongolia Issues First Digital Currency License under New Payment System Law

Mongolia has taken a significant step forward toward bolstering its fintech sector, with the East Asian country’s central bank authorizing a local telecom operator to issue a digital currency under the country’s recently-passed national payment system bill. As first reported by state-owned news agency Montsame, the Bank of Mongolia on Friday issued its first-ever digital The post Mongolia Issues First Digital Currency License under New Payment System Law appeared first on CCN

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BitPesa, SBI Remit Partner for Blockchain Payments Between Japan And Africa

BitPesa, a digital treasury management solution that leverages blockchain settlement to lower the cost and improve the speed of payments to and from frontier markets, has teamed with SBI Remit, Japan’s largest remittance service provider, to make it easier for Africans to buy Japanese products.   The two firms are leveraging blockchain technology to reduce The post BitPesa, SBI Remit Partner for Blockchain Payments Between Japan And Africa appeared first on CCN

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The Petro Probably Doesn’t Exist, Nor the Oil Reserves Backing It: Report

A month after Venezuelan president Nicholas Maduro announced the creation of the Petro, a state-backed cryptocurrency that would supposedly bring the country out of six-figure hyperinflation, the only place the Petro seems to exist is in the media. A Reuters special report recently documented the situation in the oil-rich savanna region around the town of Atapirire, The post The Petro Probably Doesn’t Exist, Nor the Oil Reserves Backing It: Report appeared first on CCN

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America’s Oldest Central Bank, Bitcoin Startup Partner to Explore Digital Currency

The Central Bank of Curacao and Sint Maarten (CBCS) has announced a partnership with blockchain technology firm Bitt aimed at exploring the issuance of a digital currency for Curacao and Sint Maarten island nations. Per the chief executive of Bitt, Rawdon Adams, a digital currency will be especially relevant to the two countries, which are The post America’s Oldest Central Bank, Bitcoin Startup Partner to Explore Digital Currency appeared first on CCN

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Hong Kong Trade Finance Will Fight Fraud With a Blockchain-Based Platform

The Hong Kong Monetary Authority (HKMA) has partnered with Chinese Ping An to release a blockchain-based trade finance platform. The joint effort is expected to speed-up the process and prevent fraud. CCN first reported the Hong Kong’s de facto central bank’s initiative back on March 30. At the time, the bank unveiled a proof-of-concept (PoC) The post Hong Kong Trade Finance Will Fight Fraud With a Blockchain-Based Platform appeared first on CCN

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