Month: June 2023

European Commission aims for universal acceptance with digital euro proposal

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On June 28, the European Commission announced it had proposed a legislative plan for a digital euro, aiming to make it a widely accepted and easily accessible form of payment. The announcement emphasized that allowing individuals to obtain digital euros through their banks upon request ensures easy accessibility and prevents citizens from being left behind. The proposal also includes provisions for free basic digital euro services, privacy protection and offline payments. In a separate proposal, the commission suggested that banks, insurers and funds should share customer data with fintech companies in…

Paxos and MercadoLibre partner up to bring USDP to Mexico

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Blockchain fintech company Paxos and online marketplace MercadoLibre have entered a partnership to bring the Pax Dollar (USDP) stablecoin to Mexico via the MercadoPago payment service on June 28.  According to a press release shared with Cointelegraph, USDP will be available to all MercadoPago customers throughout Mexico. While the company is based in the United States — with offices in New York, London and Singapore — more than 60% of its active wallets support customers throughout Latin America. Mexico currently boasts a 9.3% penetration rate for cryptocurrency use, with more…

Tether signs MoU with Georgia to develop Bitcoin P2P infrastructure

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Stablecoin issuer Tether has signed a memorandum of understanding (MoU) with the government of Georgia to develop Bitcoin and peer-to-peer focused infrastructure in the country. The Strategic collaboration between the stablecoin issuer and the Georgian government will focus on building key infrastructure for a thriving startup ecosystem in Georgia.  The collaborative effort between the two parties aims to attract international attention and investment towards the nascent decentralized space. The partnership will aim at flourishing the P2P technology at a state level and help build financial tools around it. Some of…

Bankrupt Voyager Digital Incurs $1.1M Legal Fees in April

Kirkland & Ellis is currently the legal representative of many crypto exchanges that are faced with bankruptcy. Legal advisor Kirkland & Ellis has charged bankrupt crypto brokerage firm Voyager Digital the sum of $1.1 million in legal fees for their work in April. The fund is for fees and expenses related to its work on the erstwhile brokerage firm’s bankruptcy process. According to the documents, some of Kirkland & Ellis’ highest-paid partners charged as high as $2,000 per hour for their part of the litigation. Some other lawyers billed the…

A brief history of the internet

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The internet has become an integral part of our daily lives, revolutionizing how we communicate, access information and conduct business. It has evolved over several decades, starting from humble beginnings as a research project and evolving into a global network that connects billions of people worldwide. This article presents a timeline of the Internet’s evolution, highlighting key milestones that have shaped its development. The birth of ARPANET (1969) The United States Department of Defense created the Advanced Research Projects Agency Network (ARPANET) in the late 1960s, which is when the…