Tag: finance

Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk Privacy – Finance Bitcoin News

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The ministers of finance of the countries in the eurozone reaffirmed their support for efforts to prepare for the potential launch of a digital euro. Meanwhile, the single currency area’s monetary authority sought to reassure future users that the new currency will be “preserving privacy by default and by design.” Eurogroup to Remain Involved in Digital Euro Development, Says Many Decisions Are Political Finance ministers of the EU member states that have adopted the common European currency, the Eurogroup, met on Monday in Brussels to mark Croatia’s accession to the…

Primex Finance Introduces Beta 0.3.0 App with Deployments to Polygon Mumbai and zkEVM Testnets

Place/Date: Kyiv, Ukraine – January 18th, 2023 at 4:45 pm UTC · 3 min read Contact: Anton Demenko, CMO, Source: PrimexLabs OÜ Cross-chain prime brokerage protocol Primex Finance rolls out a major update to its application. Launching in two stages, Beta 0.3.0 introduces a variety of new features, as well as improvements and fixes of existing functionalities. Starting on January 12th, 2023, Phase 1 was exclusively available for Primex Early Users, who could be the first to have a hands-on experience with Beta 0.3.0. From now on, Early Users will…

Ethereum Based Frax Finance (FXS) Is Up 64%, Still Upside?

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In the last seven days, the Ethereum-based project Frax Finance is the second biggest winner within the top 100 cryptocurrencies by market cap. With a price increase of 64%, the FXS token is only behind Decentraland (MANA), which has surged 76% within the same period. With the massive pump, Frax Share Token (FXS) has moved up to the 63rd position in the ranking by market cap and has seen a bullish rally since January 2. While the price was $4.09 on that day, FXS was at $9.06 at press time.…

DeFi Service Frax Finance Gains Momentum Amid Ether Staking Narrative, FXS in Focus

The draw of capital into Frax’s ether pools has resulted in demand for FRAX and FXS tokens, with prices of the latter rising over 62% in the past week as per CoinGecko. And because some liquidity pools pay out in FXS, the price rise theoretically means higher rewards for stakers – which, in turn, could drive more ether towards Frax, and drive even more demand for Frax’s tokens among users. Source

Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil – Finance Bitcoin News

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Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker noted. Russian, Iranian Representatives Talk Using Gold-Backed Stablecoin in Foreign Trade Iran’s central bank is considering the possibility of creating, with Russia’s participation, a digital token to facilitate trade in the Persian region, according to a report quoting the head of the crypto industry organization in the Russian Federation. The coin could be accepted…

Masa Finance launches soulbound Web3 identity protocol for Ethereum, Celo

Masa Finance has launched the first soulbound identity protocol for the Ethereum mainnet, according to a Jan. 17 press release shared with Cointelegraph. The protocol will allow for standardized soulbound tokens to be minted on Ethereum for Know Your Customer verification, credit scores and other use cases. Soulbound tokens are tokens that cannot be transferred from one wallet to another. The concept was popularized via a blog post from Vitalik Buterin, who argued that these tokens could be used to signify governance rights for decentralized finance (DeFi) protocols or to…

Masa Finance launches soulbound Web3 identity protocol for Ethereum

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Masa Finance has launched the first soulbound identity protocol for the Ethereum mainnet, according to a Jan. 17 press release shared with Cointelegraph. The protocol will allow for standardized soulbound tokens to be minted on Ethereum for Know Your Customer verification, credit scores and other use cases. Soulbound tokens are tokens that cannot be transferred from one wallet to another. The concept was popularized via a blog post from Vitalik Buterin, who argued that these tokens could be used to signify governance rights for decentralized finance (DeFi) protocols or to…

European Finance Ministers Take Stock of Digital Euro Progress

In its discussions, the Eurogroup observed that the digital euro should complement and not replace cash, be assigned a legal tender status, and ensure a high level of privacy. The group also added that the CDBC should be widely accessible to the public, guarantee access to central bank money for euro area users, and its design should consider environmental implications. Source

Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023 – Finance Bitcoin News

The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to initiate in the first half of the year. Financial Authorities in Georgia Gear Up for Digital Currency Trials The National Bank of Georgia (NBG) is going to release a ‘digital lari’ whitepaper, allowing potential partners to fine-tune their proposals for the test phase of the project. A pilot version…

EU finance ministers’ group releases statement on political aspects of digital euro

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The finance ministers from the eurozone countries have released a statement on the introduction of the digital euro after a meeting in Brussels. The Eurogroup meets regularly to discuss political dimensions of the potential digital currency, it said. The Jan. 16 statement coincides with the release of a European Central Bank (ECB) “stock taking” document detailing the progress of digital euro design. The Eurogroup statement addressed the need for the European Central Bank and European Commission to inform the Eurogroup and EU member states of developments in the creation of…