Chinese multinational tech group ByteDance is seeking a virtual banking license in Singapore as a means of entering digital finance. ByteDance, the Beijing-based multinational tech group behind Tiktok, is looking into adding banking to its line of products and services. It is currently bidding for a digital bank licence in Singapore, according to the Financial […]
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Ledger’s Glen Woo believes that China’s central bank digital currency could be deployed using existing payment rails without citizens noticing the change. China has emerged as the world’s leader in central bank digital currency, or CBDC, development, driving speculation surrounding the country’s domestic and international ambitions for its CBDC. Speaking to Cointelegraph, Glenn Woo, Ledger […]
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Chinese banks are clarifying that they are not shutting down any legal crypto accounts. Rumor has it that Chinese banks are freezing client accounts that have a history of buying and selling cryptocurrencies. According to a Chinatimes report on June 13, banks in China have clarified that they are not shutting down any legit fiat […]
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An article published by Yonhap suggests that South Korean merchants are open to accepting digital yuan as a payment method in the near future. South Korean media outlets suggest that local merchants could accept the upcoming digital yuan as a payment method once the COVID-19 pandemic passes, and Chinese tourist flow increases in the […]
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Crypto pundits believe that central bank digital currencies based on public-private partnerships could see the light of day much sooner, as many solutions under development use the approach. On May 26, Tommaso Mancini-Griffoli, a representative from the International Monetary Fund, stated that moving forward, the best way to harness the potential of central bank digital […]
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The future is digital and bank-free, said Andreessen Horowitz general partner Katie Haun in a recent interview. Andreessen Horowitz, or a16z, expects more Libra competitors to enter the space, seeing “an opportunity for a new financial network.” As the venture firm’s general partner Katie Haun told Bloomberg in an interview published June 1, a16z expects […]
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Research Fellow Martin Chorzempa argued that China’s blockchain strategy is entirely focused on domestic objectives during Consensus. Martin Chorzempa, a research fellow at the Peterson Institute for International Economics, provided insight into the motivations and objectives underpinning the development of China’s state-backed Blockchain Service Network (BSN) while speaking at Consensus:Distributed on May 12. Chorzempa highlighted […]
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A former President of China’s central bank says the digital yuan will be able to eventually replace cash if four key conditions are met. Former Bank of China President, Li Lihui, has revealed the launch of the digital yuan is imminent, and that the currency can replace cash if four key conditions are met. The […]
Continue ReadingVeChain, Mastercard and Alipay are among the heavy hitters backing the new APAC Provenance Council, focused on Australia’s $76 billion of exports to China. VeChain, Mastercard and Alipay are among the heavy hitters backing the new APAC Provenance Council, which has already secured millions in funding for supply chain tracking and financing pilots throughout the […]
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Distributed ledger technology is being leveraged by the coupon industry to provide transparency for the digital coupon market. Coupons, typically thought of as pieces of paper used at grocery stores to redeem discounts, have gained traction throughout the years. It’s been noted that coupons were first used in the mid-1890s by Coca-Cola. Since then, the […]
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