The digital renminbi is legally compensatory to China’s fiat currency. China’s central bank digital currency (CBDC) known as the digital yuan should be regulated in line with cash-related laws, according to a senior exec at the country’s central bank. In an opinion article on Sept. 14, Fan Yifei, a deputy governor of the People’s Bank of China […]
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Jamaica’s central bank has invited technology solution providers to develop and test a potential CBDC. The Bank of Jamaica invited technology solution providers to develop and test potential central bank digital currency, or CBDC, solutions. According to a statement published July 17, interested companies have been requested to submit the details of their solutions to […]
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Coinbase and Gemini reportedly had their accounts approved with JPMorgan Chase in April. JPMorgan Chase, the United States’ largest bank, has reportedly taken on U.S. cryptocurrency exchanges Coinbase and Gemini as customers. A report from the Wall Street Journal on May 12 cited unnamed sources apparently familiar with the matter, who highlighted that the move […]
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Stock and cryptocurrency trading platform Robinhood has withdrawn its bank charter application with the U.S. Office of the Comptroller of the Currency. Stock and cryptocurrency trading platform Robinhood has withdrawn its bank charter application with the Office of the Comptroller of the Currency. As CNBC reported on Nov. 27, Robinhood voluntarily decided to withdraw its […]
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The People’s Bank of China will pilot a restriction on large-scale cash transactions in three different regions, possibly paving the way for its upcoming digital currency. The People’s Bank of China (PBOC) announced that it will pilot a restriction on large-scale cash transactions in three different regions across the country, with one expert calling the […]
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Germany’s largest bank, Deutsche Bank, has joined JPMorgan’s blockchain-based network, the Interbank Information Network. Germany’s largest bank, Deutsche Bank, has joined JPMorgan’s blockchain-based network, the Interbank Information Network (IIN). Two years in operation Launched as a pilot in 2017, the JPMorgan-led blockchain initiative now has a network of 320 banks that have entered the platform […]
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X5 Retail Group and Alfa-Bank jointly launched a Waves enterprise blockchain-based liquidity management service in Russia. Alfa-Bank and X5 Retail Group partnered to launch a blockchain liquidity management service in Russia. According to a press release published by the bank on Sept. 12, the service — dubbed Distributed Treasury and Cash Management (DTCM) — enables […]
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As the People’s Bank of China reveals new details of its future cryptocurrency, more users are getting concerned about its partial decentralization. The People’s Bank of China (PBoC) has completed the development of a prototype for issuing a national cryptocurrency, as Cointelegraph reported on Aug. 11. As it turned out, it will be powered by a […]
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An Arizona startup is testing its stablecoin payments platform for the medical marijuana industry through the state’s fintech sandbox. The state of Arizona has accepted a blockchain-based, cannabis industry-oriented payments solution into its fintech sandbox. According to a recent press release from the Office of the Attorney General, the company — called Alta — is […]
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HSBC has deployed tokenization tech in its receivables infrastructure for corporate clients in India. Major global banking group HSBC has implemented tokenization technology into its receivables infrastructure for corporate clients in India, according to an announcement on June 18. The British multinational financial services company has reportedly launched its Digital Accounts Receivable Tool (HSBC DART), […]
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