Tag: Digital

German DZ Bank adds digital currencies into asset management services

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DZ Bank, Germany’s second-largest bank in terms of asset size, will fully integrate digital currencies into its asset management services in collaboration with the digital asset firm Metaco. According to the announcement sent to Cointelegraph, DZ Bank selected Metaco’s custody platform Harmonize to offer digital currencies to its institutional clients. Nils Christopeit, an executive at DZ Bank, said that the Metaco Harmonize platform suits their requirements in terms of security and scalability. “With the offering, we can build by using this technology, we trust to create a durable and fast-growing…

US lawmaker introduces bill aimed at limiting Fed’s authority on digital dollar

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Minnesota Representative Tom Emmer has introduced legislation in the United States House of Representatives that could limit the Federal Reserve from issuing a central bank digital currency, or CBDC. In a Feb. 22 announcement, Representative Emmer said he had introduced the ‘CBDC Anti-Surveillance State Act’ in an apparent effort to protect Americans’ right to financial privacy. According to the Minnesota lawmaker, the bill could prohibit the Fed from issuing a digital dollar “directly to anyone”, bar the central bank from implementing monetary policy based on a CBDC, and require transparency…

Chaos Labs Secures $20 Million Funding Led by PayPal and Galaxy Digital

Chaos Labs said that it will use these funds to boost the security of the DeFi protocols through its services like capital efficiency and risk optimization, streamlined risk assessments, spend optimizations, and much more.  Despite these tumultuous times in the market, crypto firms continue to secure fresh funding. On Tuesday, February 21, Chaos Labs announced securing $20 million in funding led by PayPal and Galaxy Digital. Chaos Labs Funding The funding round also saw participation from other market players like Coinbase, Lightspeed, Uniswap, Bessemer, Hashkey and top investors such as…

Bank of Japan to Launch Digital Yen CBDC Pilot Later This Year – Bitcoin News

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The Bank of Japan is preparing to launch a pilot test for a digital yen, its central bank digital currency (CBDC), later this year. Shinichi Uchida, executive director of the Bank of Japan, explained that the goals of this new pilot are to test the technical feasibility of the currency and to include private businesses in its design process. Bank of Japan to Continue Digital Yen CBDC Experimentation The Bank of Japan is advancing in its research for the issuance of a hypothetical Japanese central bank digital currency (CBDC), the…

Digital Assets & Surge of Cryptocurrency

As a result of cryptocurrencies’ potential to revolutionize the conventional financial system, the accompanying difficulties are receiving increased regulatory attention. In the past few years, crypto-assets and the many products and services that go with them have grown quickly and are becoming more and more connected to the regulated financial system. Policymakers appear to be finding it difficult to monitor the risks posed by a sector where the majority of operations are either uncontrolled or only minimally regulated. The International Monetary Fund warns that in some nations financial stability problems…

US regulatory crackdown leads to $32M digital asset outflows: CoinShares

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Institutional investors may have gotten the jitters on crypto in the wake of the regulatory crackdown in the United States, with digital asset investment products seeing the largest weekly outflow of 2023.  On Feb. 20, institutional crypto fund manager CoinShares reported that digital asset investment products saw outflows totaling $32 million last week, the largest outflow of the year. This week in Fund Flows, by our Head of Research @jbutterfill : Digital assets see US$32m in outflows, but rising prices push AuM to highest since August 2022. Read the full…

Bank of Russia to Start Testing Digital Ruble With Real Users on April 1 – Finance Bitcoin News

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The Central Bank of Russia plans to launch test operations with digital ruble transactions between real customers at the beginning of April. More than a dozen banks will join the upcoming stage of the pilot project, a high-ranking representative of the bank announced to Russian media. Russia’s Monetary Authority to Trial Actual Settlements With Digital Ruble The Central Bank of the Russian Federation (CBR) is going to proceed to the next phase of the digital ruble pilot project on the first day of April. Testing will involve real transactions with…

5 ways to monetize your digital art with NFTs

Nonfungible tokens (NFTs) offer a new way to sell and distribute digital art, and they have the potential to unlock new revenue streams for artists in the digital age. Here are five ways to monetize your digital art with NFTs. Fractionalized ownership This involves splitting the ownership of an artwork into smaller parts and selling them as tokens, allowing multiple investors to own a stake in the artwork. For example, an artist can create 100 tokens for a piece of art and sell them to 100 different buyers, each of…