Blockchain tech could purportedly reduce the timeline of bank guarantees processes by days. Three of the “big four” Australian banks are forming a new company called Lygon to digitize bank guarantees using blockchain technology. Bank guarantees are an official contract between a debtor and a financial institution. It ensures the debtor and the debt provider […]
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Turkish are losing faith in its local fiat currency, with confidence in the lira falling 20% this year. Rampant inflation is affecting Turkish residents’ confidence in the lira fiat currency. According to a Reuters report on August 14, locals are dumping lira and converting it to dollars and buying gold. Even with market interventions and […]
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As Bitcoin reaches a new yearly high of $12,470, its market cap is now greater than Bank of America’s and New Zealand’s fiat currency. As Bitcoin gets more support from first-time investors, its market capitalization has risen past Bank of America’s market valuation, and put it within striking distance of PayPal’s. According to AssetDash data […]
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Revolut’s losses in 2019 surged over 200% due to investment in international expansion, Revolut founder and CEO says. Revolut, a crypto-friendly trading app and one of the biggest fintechs in Europe, reportedly tripled its losses in 2019 despite growth in revenue and new customers. The London-based company reportedly posted a total loss of more than […]
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The tale of hacked exchange Cryptopia’s extended liquidation is poised to see new legal action from a major creditor and token issuer. On July 21, legal representation for GNY, a firm focused on artificial intelligence and the issuer of LML, filed a final notice of liquidators’ failure to comply with duties. The liquidator in question […]
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New Zealand-based crypto data firm Brave New Coin has partnered with a new Canadian options exchange to develop indexes for its forthcoming crypto markets. Digital asset data firm Brave New Coin (BNC) has inked a multi-year deal with the Toronto Futures Options Swaps Exchange (tFOSE) to power its crypto options trading. BNC’s data will enable […]
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Experts are of the opinion that governments need to work hand-in-hand with encryption-centric service providers to combat illegal activities on their platforms. Encrypted messaging services have always presented a tough challenge for government agencies all over the world. On one hand, they allow for freedom of speech, but on the other, they enable miscreants and […]
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Binance added support for the new currencies through a partnership with crypto asset and fiat money institutional custodian Etana Custody. Major cryptocurrency exchange Binance has added support for deposits in 15 additional fiat currencies to its platform. According to a July 7 announcement, Binance added support for the United Arab Emirates dirham, Australian dollar, Canadian […]
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Authorities across Europe take down an organized crime syndicate that used an encrypted chat network to coordinate their illicit activities. Law enforcement authorities throughout Europe arrested over 800 individuals that allegedly were using an encrypted chat network to coordinate their illicit activities. 60,000 members EncroChat was using modified Android devices to provide its users “worry […]
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Blockchain initiatives are being applied by large companies to reduce intermediaries and costs in the travel industry. The word “blockchain” is no longer perceived as something exotic and super innovative, partly because large companies have found various uses for this technology and customers have begun to understand how it works. On the other hand, the […]
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