The tokens will be a form of electronic money backed by the country’s gold reserves, which will be held by the central bank. RBZ wants people holding Zim dollars to be able to exchange their money for the gold-backed token to help them hedge against the volatility of the local currency. Source
“Adding the DTI standard to the FIX Protocol was an easy decision as the DTI extends the existing functionality to the world of digital assets, which helps the market evolve to work with this asset class,” Jim Kaye, executive director at FIX, said in the press release. “We can see many benefits of adding the DTI, including making it easier for the industry to audit their transactions and increase transparency, thereby bringing more efficiencies to the market.” Source
The Reserve Bank of Zimbabwe is set to introduce a gold-backed digital currency to serve as a legal tender in the country. The move is a government initiative to stabilize the local currency from its depreciation against the United States dollar. According to a report from local media Sunday Mail, the move will allow small amounts of Zimbabwe dollars to be exchanged to the digital gold token, enabling more Zimbabweans to hedge against the currency volatility. Central bank governor John Mangudya said the plan intends to “leave no one and…
Changshu City in Jiangsu Province, East China, will begin paying all public sector personnel in e-CNY, better known as digital yuan, from May 2023. This is important in promoting the digital yuan, China’s official digital money. The decision will affect government personnel, teachers, healthcare professionals, journalists, technicians for accredited media outlets, and staff members of state-owned businesses. The introduction of digital yuan payments in Changshu City is a part of China’s more extensive initiatives to advance its centralized digital currency. Changshu City has been promoting digital yuan pilot programs, and many consumption…
A notice issued by authorities governing the Chinese city of Changshu stated that all civil servants in its jurisdiction will be paid their full salaries in digital RMB or digital yuan from May 2023. According to the notice issued by local Chinese authorities, Changshu Local Financial Supervision Bureau and the Changshu Municipal Bureau of Finance, civil servants including public service personnel, public institution personnel and personnel of state-owned units at all levels in the city will be compensated in digital RMB payment. An on-site staff member of a local hospital…
The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled. Digital Ruble Platform to Support Integration With Other CBDCs, Bank of Russia The system underpinning the issuing and circulation of Russia’s central bank digital currency (CBDC) may well work with the digital legal tenders of other nations, representatives of the Russian monetary policy regulator indicated this…
The GroveToken protocol has a number of innovative products and services that are designed to return maximal value to all of its users. Every digital currency has its basic fundamentals and one of the emerging projects in the space GroveToken is aiming at making the world greener and more sustainable. The GroveToken is designed to be a different crypto project with respect to its core investments and ecosystem focus. While many blockchain protocols are solely hinged toward the benefit they have to offer their community, the GroveToken project is first…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Mattel has partnered with the Rarible NFT platform and Flow blockchain to launch a peer-to-peer (P2P) digital collectibles marketplace for its users. The NFT marketplace is scheduled to go live on April 27. Mattel unveils P2P NFT marketplace Mattel Inc., an American multinational toy manufacturer established in 1945, has launched its P2P digital collectibles marketplace to complement the Mattel Creations Virtual Collectibles platform. The new digital collectibles marketplace, developed in collaboration with Rarible, Magic, and Flow,…
Patrick McHenry and Glenn Thompson are at the forefront of the new market structure effort. United States’ first major crypto legislation is currently in the works and from all indications, might even not be far from becoming law. In line with this, members of the House and Senate are already working in collaboration to make the new rules. Proponents of the new rules will seek to prioritize the concerns of top regulators and put them into consideration. Recall, for instance, that the Commodities Futures Trading Commission (CFTC) and the Securities…
Digital banking, also known as online banking or e-banking, refers to the delivery of financial services through digital channels such as the internet, mobile devices and automated teller machines (ATMs). Digital banking has become increasingly popular in recent years, but its origins can be traced back several decades. Here’s a brief history of digital banking. Early automation (1960s to 1980s) The first forms of digital banking can be traced back to the 1960s, when banks began using mainframe computers to automate various banking functions such as check processing and customer…