Tag: Digital

Here’s how much digital yuan used at Olympics, according to PBoC

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The 2022 Winter Olympics participants, visitors and organizers could be spending more than $300,000 in China’s digital yuan every day, according to new reports citing officials from the People’s Bank of China. The e-CNY, China’s central bank digital currency (CBDC), is being used to make 2 million yuan ($316,000) or more worth of payments each day, PBoC’s Digital Currency Research Institute director-general Mu Changchun said. The official provided the data during a webinar hosted by the Atlantic Council, Reuters reported Tuesday. “I have a rough idea that there are several,…

Berkshire Hathaway Invests $1B in Brazilian Digital Bank Nubank, Reduces Mastercard, Visa Positions

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 in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…

Digital ruble trial goes live as Bank of Russia insists on Bitcoin ban

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Amid more reports on the Bank of Russia rejecting the finance ministry’s proposal of cryptocurrency regulation, the central bank has kicked off trials of its own digital currency. The Russian central bank has officially launched the digital ruble trial, successfully completing the first central bank digital currency (CBDC) transfers among citizens, the Bank of Russia announced Tuesday. The launch aligns with the bank’s plans to debut the first digital ruble transactions in early 2022. Three banks out of 12 financial institutions in the digital ruble pilot group have already integrated…

CoinFund Joins $9M Round for Digital Infrastructure Inc’s Bid to Decentralize Vehicle Data

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 in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…

FQX Partners with Switzerland’s SIX Digital Exchange

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SIX Digital Exchange (SDX), a wholly-owned subsidiary of Switzerland-based SIX, and FQX, a Zurich-headquartered fintech and blockchain startup, announced today that the companies have agreed to collaborate on blockchain-based short-term debt instruments. Backed by prominent financial technology investors, FQX is a SIX Fintech Ventures’ portfolio company. The firm has more than 20 employees in Europe and Asia. According to FQX, it is using blockchain technology to revolutionize the global debt infrastructure. The international short-term financing markets are growing rapidly. An estimate indicates that the annual global transaction volumes related to…

ECB Chief Lagarde Says Digital Euro Will Not Replace Cash — But Could Offer Convenient, Cost-Free Means of Payment – Regulation Bitcoin News

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The president of the European Central Bank (ECB), Christine Lagarde, says that a digital euro will not replace cash but would complement it. “A digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion,” the ECB explained. Digital Euro to Complement Cash ECB President Christine Lagarde talked about the digital euro at the plenary session of the European Parliament Monday on the 20th anniversary of the introduction of euro banknotes and coins. “Last year, we launched…

States’ crypto rights and the influx of digital money into analog politics, Feb. 7–14.

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Several storylines that had been long in the making dominated last week’s news cycle in the cryptocurrency policy and enforcement department. The Russian government has made another huge step on the path toward creating a tailored regulatory framework for digital assets, unveiling its consolidated view that crypto is to be treated as currency rather than swept under the rug of a blanket ban. While this movement in the direction of crypto’s formal legitimization is a welcomed development, a host of questions persists related to both the exact shape of the…