New Zealand’s CBDC is undergoing a multi-stage and multi-year process, and the country has not decided to issue one yet, the consultation paper said. It would be denominated in New Zealand dollars, swappable 1:1 with physical cash, and would be available 24/7. Source
The Bank of Russia has announced that it will support accelerating the adoption of cryptocurrency payments for international settlements. According to Elvira Nabiullina, governor of the Bank of Russia, these crypto-based payments must be launched in a sandbox-style experimental regime. In contrast, payments with national digital assets will be launched without similar precautions. Bank of […] Source
Fiji’s central bank has issued a warning against crypto investments promoted in the region, citing legal tender laws and potential penalties under local regulations. The Reserve Bank of Fiji (RBF) has issued a public warning, cautioning users from investing in crypto-related campaigns promoted in the region. In a press release on Apr. 15, the central bank emphasized, including Bitcoin (BTC) and Ethereum (ETH) are “not recognized as legal tender in Fiji” and can’t be used for payments of goods and services, in accordance with local rules. Reserve Bank of Fiji…
Germany’s largest federal bank is set to launch crypto custody services in collaboration with crypto exchange Bitpanda, targeting institutional and corporate clients. Germany’s biggest state-backed lender with over $350 billion in assets under management, Landesbank Baden-Württemberg (LBBW), will launch crypto custody services for its institutional and corporate clients in the second half of 2024 in a move aimed at boosting the local market of virtual assets. New partnership alert: Bitpanda x LBBW 🤝 Landesbank Baden-Württemberg, Germany’s largest federal state bank will enhance their digital asset offering in partnership with Bitpanda!…
“By offering crypto-asset custody, we are positioning ourselves with a clear added value for our corporate clients – while ensuring the highest security standards,” Stefanie Münz, member of the LBBW board of directors responsible for finance, strategy and operations, said in a press statement. “Bitpanda provides the necessary technical and regulatory infrastructure to offer our customers innovative and, above all, secure solutions in the area of digital assets.” Source
A new Deutsche Bank survey found that over half of respondents expect cryptocurrencies to become an important asset class and a method of payment. In addition, 10% of respondents expect the price of bitcoin to be above $75,000 by year-end. Deutsche Bank’s Crypto Survey A recent Deutsche Bank survey of over 3,600 consumers, published this […] Source CryptoX Portal
Elvira Nabiullina, head of the Russian central bank, has stated that the mass launch of the digital ruble will take five to seven years. This appears to contradict recent suggestions by the chairman of the State Duma Committee on the Financial Market that the launch will begin next year. No Decision Before 2025 Elvira Nabiullina, […] Source CryptoX Portal
The Central Bank of Nigeria has barred the use of foreign exchange as collateral for local currency loans. In its April 8 letter addressed to banks, the CBN warned of severe consequences for banks that fail to comply with the latest directive. Halting the Slide of the Naira Hamstrung by ongoing shortages of U.S. dollars, […] Source
Nevertheless, the survey showed that retail investors are not overly optimistic about the outlook for the world’s largest cryptocurrency, with only 10% of people saying they expect it to exceed $75,000 by year-end. Bitcoin was trading over 2% lower over 24 hours at around $69,000 at publication time. Original
BV Bank, a Brazilian bank leader in vehicle loans, is running a pilot that uses tokenization to manage vehicle financing and sales operations. The first phase of the tests involves automating consumer-to-consumer vehicle sales processes, including the delivery of tokenized money in exchange for the ownership of the vehicle. Brazilian BV Bank Pilots Tokenization Model […] Source BitcoincryptoexchangeExchanges CryptoX Portal