Tag: Digital

Swiss Bankers Association proposes deposit tokens to develop digital economy

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The Swiss Bankers Association released a white paper on how Swiss banks can support the development of the country’s digital economy. A Swiss franc “joint” deposit token is the solution the group settled on.  Stablecoins have limited penetration in the Swiss financial system, even as end-to-end digitization is becoming more common in business models, and no Swiss stablecoins are accessible by the general public, the paper says. The authors of the paper suggest a variety of stablecoins — that is, a deposit token “issued by regulated and adequately supervised intermediaries”…

Judge’s Order for Binance.US Acquisition of Voyager Digital Reaffirmed

When the financial woes of FTX also lead to the exchange’s bankruptcy, the deal could not proceed, pitching Binance.US as the next major favorite to bail out the company. Judge Michael Wiles, the presiding Judge over the Binance.US and Voyager Digital acquisition case with the United States Securities and Exchange Commission (SEC) has reaffirmed his order for the deal to proceed. The Judge canceled the petition from the SEC to halt the proposed sale of the bankrupt crypto brokerage company to Binance.US on the grounds that such deals will be…

Digital Assets Worth 2 Billion Rubles Issued in Russia in Less Than a Year – Bitcoin News

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Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the following year. Volume of Digital Assets Increases in Russia as Investors Seek Alternatives to Traditional Instruments Less than a year since Central Bank of Russia (CBR)-approved entities began issuing digital financial assets, these have issued DFAs for 2 billion rubles (over $26 million). The data was announced by Ekaterina…

Developed markets lagging behind in digital payments: BlackRock CEO

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The CEO of American investment company BlackRock, Larry Fink, highlighted the potential of digital assets and tokenization for the asset management industry in his annual chairman’s letter to the company.  The letter was published on March 15 and addressed various topics of interest to the firm over the last year, including digital assets. Fink highlighted the rising and sustained interest in these types of assets despite the FTX catastrophe. He said beyond the hype, “interesting developments” are happening in the space. He especially noted the “dramatic advances” in the digital…

European Parliament votes to form final law on EU digital wallet

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European lawmakers are moving forward with the introduction of a European Union-wide digital wallet by passing a plenary vote on moving the initiative to interinstitutional negotiations. The European Parliament on March 15 voted in favor of negotiating a mandate for talks with the EU member states on the revision of the new European Digital Identity (eID) framework, according to an official announcement. The plenary vote resulted in 418 votes in favor and 103 votes against the initiative, with 24 parliament members abstaining from the vote. Following the plenary’s endorsement, the…

AllianceBlock, ABO Digital to Offer Tokenized Structured Products

ABO Digital – the digital-asset investment arm of ABO Group, which provides private financing for publicly traded companies – will help negotiate and structure the financial instruments based on a project’s capital and liquidity goals. AllianceBlock will tokenize the assets and turn them into compliant “actively managed certificates,” which is a type of structured product that lets an investor track and benefit from an underlying asset without having direct ownership. Source

Fidelity Digital Assets Expands ‘Fidelity Crypto’ to Public amid Banking Crisis

Fidelity Digital Assets expanded its crypto service to the public amid the collapse of Silvergate and Signature Bank. After Fidelity Digital Assets announced an early waitlist for crypto trading in November 2022, Fidelity Crypto is now accessible to the public. The asset manager quietly opened access to the new offering, allowing users to trade Bitcoin and Ether. With millions of users globally, commission-free trading has begun via Fidelity Crypto, according to the digital assets management company. People familiar with the matter revealed that the complete launch of the crypto trading services rolled out over…

India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions – Regulation Bitcoin News

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India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India and UAE,” India’s central bank explained. India and UAE Collaborate on CBDCs India’s central bank, the Reserve Bank of India (RBI), announced Wednesday a collaboration with the Central Bank of the United Arab Emirates to…

Anchorage Digital Sends Home 75 Employees amid Crypto Regulatory Uncertainty

Anchorage Digital was the first federally chartered crypto bank in the United States after it raised $350 million at more than $3 billion valuation in 2021. Anchorage Digital, an institutional-grade cryptocurrency platform, has reportedly sent home 75 employees, representing 20 percent of the total workforce. According to a report by Bloomberg, Anchorage Digital cited the uncertain crypto regulatory landscape in the United States as the top reason for laying off part of its workforce. Moreover, the United States has not formulated clear crypto regulations, with the Securities and Exchange Commission…

Maggi Launches Digital Collectibles in OneRare Foodverse

The co-founder of OneRare expressed his company’s thrill at partnering with Maggi. International seasoning brand, Maggi, is set to launch its first-ever digital collectible in the OneRare Foodverse. Maggi couldn’t have chosen a better time to launch. After a turbulent 2022, NFTs have started to bounce back in 2023. According to the press release, Maggi will launch recipes made with Maggi Noodles, Masala-ae-Magic, and MAGGI Hot & Sweet, as Digital Collectibles that are usable in the Foodverse. The Foodverse, which is designed to bring the Global F&B Industry to the…