Tag: Digital

China opens industrial park for digital yuan CBDC development in Shenzhen

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China opened an industrial park dedicated to developing the digital yuan ecosystem on Oct. 11, according to Chinese press reports. This is the first such park dedicated to the central bank digital currency (CBDC), which is also referred to as the e-CNY. The industrial park is located in the Luohu district of Shenzhen adjacent to Hong Kong. It is opening with nine residents. According to reports, the district government has announced ten “initiatives to boost the development” of the digital yuan ecosystem that involve payment solutions, smart contracts, hard wallets…

CFTC announces lawsuit against Voyager Digital and former CEO

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The United States Commodity Futures Trading Commission (CFTC) has filed a complaint against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. In an Oct. 12 announcement, the CFTC said it had filed a lawsuit in the U.S. District Court for the Southern District of New York against Ehrlich and Voyager for alleged fraud and “registration failures” connected to the platform and its “unregistered commodity pool.” The commission said it planned to seek restitution, disgorgement, civil monetary penalties, and permanent trading and registration bans. “Ehrlich and Voyager falsely…

Japanese yen-backed digital currency, DCJPY, to go live in July 2024

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On Oct. 12, digital currency and electronic payments firm DeCurret Holdings published a white paper on its cryptocurrency project, the “DCJPY.“ The organization intends to launch the coin in July 2024. According to the white paper, the DCJPY network will consist of two areas: the Financial Zone and the Business Zone. The former will include banks, minting bank deposits as digital currency on the blockchain, while the latter will be reserved for transactions. The Business Zone will provide space for issuing non-fungible tokens (NFT), security tokens (ST), and governance tokens (GT).…

Galaxy Digital Leads $4M Strategic Funding for Parsec Finance to Revolutionize DeFi Transparency

With crucial funding secured, Parsec Finance also launched its cutting-edge institutional-focused product that aims to help provide unparalleled data to easily discover DeFi opportunities. Parsec Finance, an analytics platform focused on providing deep transparency in the nascent DeFi and NFT markets, announced a successful closure of a strategic funding round with about $4 million. According to the announcement, the Parsec Finance strategic funding was led by Galaxy Digital with key participation from Uniswap, Robot Ventures, CMT Digital, Will Price, Rice Maximalist, and Freddie Farmer, among many others. The funds are…

Hata receives in-principle approval to be fifth Malaysian digital exchange

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The Malaysia-based Hata has received in-principle approval from Securities Commission Malaysia (SC) to register as a Recognized Market Operator (RMO) as a digital asset exchange and digital broker. The approval means Hata could launch its services in six to nine months. Hata will become the fifth regulated digital asset exchange in Malaysia and the first legal entity to receiveapproval as a digital broker, allowing it to display trade orders from other regulated exchanges. Hata also received a money broker license from the Labuan Financial Services Authority in June, allowing it…

How Blockchain-Based Digital Wallets Transform Finance and More

Today, individuals, many small and medium enterprises as well as institutions operate across a fragmented set of financial accounts that each require separate types of paper-based documentation (often stored in electronic form). For individuals, this includes checking and savings accounts that deal with the entity’s cash; brokerage and investment accounts that deal with retirement, education, healthcare and more; liability accounts that deal with mortgages, loans, lines of credit or credit cards; and a significant number of accounts that relate to the individual’s assets, valuables and collectibles including special documents such…

Former Italian Central Banker Piero Cipollone Defends Digital Euro as He Seeks to Replace CBDC Supremo Fabio Panetta

The ECB lawmakers favored Cipollone’s candidacy to steer forward the agenda of a digital Euro to reinforce the public money infrastructure amid the mainstream adoption of digital assets. The European Union is preparing to roll out its Central Bank Digital Currency (CBDC) in a few years to keep its economic outlook competitive amid changing puzzles of geopolitics. Blockchain technology has been identified as a key to a successful digital Euro to enable retail CBDCs along the way. In the latest move, former Italian central banker, Piero Cipollone, largely convinced the…

CoinDesk Digital Asset Recap Q3 2023: Bitcoin and Ether Outperform

Looking within sector quarterly performance with the CoinDesk DACS framework, the trends and preferences towards larger capitalization tokens are less clear. Over Q3 of 2023, Computing (CPU, +3%) and DeFi sectors (DCF, -8%) were relative out-performers, while Smart Contract Platform (SMT, -13%), which contains Ether, and Culture and Entertainment (CNE, -22%) were relative under-performers. See the chart below for a full sector performance breakdown for Q3 of 2023. Source

Bitcoin Is Better than Digital Gold and Huge Cash Inflow to Crypto Assets Is on Horizon

The firm believes the approval of a spot Bitcoin ETF in the United States will trigger an influx of over $30 billion in subsequent months. The mainstream adoption of Bitcoin (BTC) by institutional investors has put the gold market on notice with a possible decoupling in the coming few years. According to a report by Matrixport, Bitcoin is about to challenge gold as a store of value due to the simple fact that the former has outperformed the latter in the past years. Additionally, the demand for Bitcoin has significantly…