Though critics of a central bank digital currency have said it could amplify bank runs, the Office of Financial Research says it may actually help. Source
Digital Dollar Could Be Good for Financial Stability, US Federal Researchers Say
Tag: Digital
Report urges central banks to work together on digital currency interoperability
International agencies are urging central banks to consider interoperability early in the design of central bank digital currencies (CBDCs). The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures, the BIS Innovation Hub, the International Monetary Fund and the World Bank released a report Monday that looked at three options for cross-border interoperability that address challenges including high costs, low speed, limited accessibility and thelack of transparency. The present publication was a response to a 2020 Committee on Payments and Market Infrastructures report that identified 19 building blocks…
Dutch bank ING sells digital asset tool Pyctor to GMEX
ING Group, Dutch multinational banking and financial services corporation, has spun out its digital asset business Pyctor to multi-asset trading infrastructure firm GMEX. GMEX has acquired ING’s institutional-grade digital asset custody solution Pyctor in a multi-million dollar deal, the companies said in a joint announcement on Monday. The Pyctor offering compliments GMEX’s MultiHub service, an institutional cross-platform business launched last year with the mission to bridge the gap between centralized finance (CeFi) and decentralized finance (DeFi), GMEX CEO Hirander Misra told Cointelegraph. Pyctor expands MultiHub with a number of digital…
Russian Sberbank Conducts First Digital Asset Trade on its Blockchain Platform
Sberbank, a Russian majority state-owned bank, announced on Saturday that it has conducted the first digital financial asset transaction on its own platform. The lender said that through the use of its smart contract-based blockchain platform launched in March, it has carried out the first transaction, with its subsidiary, Sber Factoring, executing a 1 billion rouble (about $16 million) whose issuance is set to mature in the next three months. Sber plans to issue and circulate cryptocurrencies and other digital assets on the platform, which has been built with blockchain…
Two Under-the-Radar Altcoins Listed on Digital Assets Exchange Crypto.com
Singapore-based digital asset exchange Crypto.com is announcing the listing of two under-the-radar altcoins. The crypto exchange is rolling out support for the native token of the AIOZ Network (AIOZ), a layer-1 blockchain-based content streaming delivery platform. Using the AIOZ token as a reward, the project aims to build a network of nodes that provide bandwidth and computational power to continue to store and distribute media content for AIOZ’s ecosystem of decentralized applications. The project’s website says it’s fully interoperable with the Ethereum (ETH) and Cosmos (ATOM) blockchains and can provide instant finality and low transaction…
A recovery period for digital assets
When investing in financial markets, people often underestimate the possibility that, over a period of time, the investment may lose its value, and it will take time to recover temporary losses. The deeper the loss becomes, the more energy required to recover the losses increases out of proportion. If I invest $100 and lose 10%, I end up with $90 (whether I keep the investment or liquidate it). So, to get back to $100, which returns do I have to make? I have to make 11% because, with a base…
Marathon Digital Continues to Hodl All Bitcoin, but Hints at Strategy Change
Marathon bought $150 million of bitcoin with a NYDIG fund in January of 2021. Original
FDIC reportedly scrutinizing Voyager Digital marketing; complex SBF ties come to light
Some Voyager Digital account holders were surprised when they discovered that their deposits did not have the protection they thought they did after the crypto brokerage and lender filed for bankruptcy Tuesday. This could mean additional consequences for Voyager Digital. Voyager Digital filed for bankruptcy under Chapter 11, citing debts of up to $10 billion to 100,000 creditors in a crisis brought on after Singaporean hedge fund Three Arrows Capital (3AC) default on a loan of 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) a week earlier. According to…
Galaxy Digital Hires Credit Suisse Veteran as Global Head of Distribution
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CryptoX employees, including editorial employees, may receive exposure to DCG equity…
Galaxy Digital Names Credit Suisse Veteran as Global Head of Distribution
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…