Tag: finance

Singapore Regulator Advocates ‘One Regulatory System’ for Crypto and Traditional Finance – Regulation Bitcoin News

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Singapore’s senior minister and the chairman of the central bank, the Monetary Authority of Singapore (MAS), says there should be just “one regulatory system” for both crypto and traditional finance. In addition, he stressed that regulators should provide “ultra clarity as to what’s an unregulated market,” so investors are aware that they go in at their own risk. ‘One Regulatory System’ Tharman Shanmugaratnam, Singapore’s senior minister who is also the chairman of the country’s central bank, the Monetary Authority of Singapore (MAS), talked about cryptocurrency regulation during a panel discussion…

Fluid Finance Proposes to Integrate the DAI Decentralized Stablecoin Directly Into the Traditional Financial System – Press release Bitcoin News

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press release PRESS RELEASE. Fluid Finance submitted a proposal to integrate the DAI decentralized stablecoin directly into the traditional financial system. It would be the first time that a stablecoin could be purchased directly from a bank account. Jessica Walker at Fluid said: “One of the problems with crypto is the lack of connection to the real world. Fluid solves that by integrating Dai directly into our accounts. Users can buy Dai directly from us using dollars, euros, pounds and dozens of other currencies. Dai holders can also now buy…

China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoins and CBDCs – Finance Bitcoin News

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The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based digital assets in foreign trade. Company Behind China’s Blockchain Push Aims to Make Stablecoins and State Coins Interoperable Hong Kong-based Red Date Technology, the designer of China’s state-backed Blockchain-based Service Network (BSN), has launched a new project to implement both stablecoins and central bank digital currencies (CBDCs) in cross-border payments. The initiative was announced this week…

Role Of Gamification In The Finance And Gaming Industry

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It is challenging to make gaming and financial services intriguing. Fintech and gaming, like businesses in many industries, are attempting to increase user engagement through modern technologies. Banks and gaming businesses are aware of the need to develop new methods of engagement with their clientele to remain competitive and foster loyalty in a field that is becoming increasingly competitive. Could gamification be the key to achieving more engagement? It remains an unsettling question because today’s consumers are seldom far from their smartphones and seamlessly switch between digital platforms. But what…

IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance – Regulation Bitcoin News

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An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing director at the IMF, believe that, given the growing links between legacy finance and crypto, cryptocurrency’s volatility might bring systemic risks to the existing markets. IMF Blog Post Calls for Containing Future Crypto Contagion The…

DeFi should complement TradFi, not attack it: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Following FTX’s demise, the DeFi space is up for a complete remodel as crypto users demand better security and compliance practices. SushiSwap’s roadmap for the coming year includes the development of a decentralized exchange (DEX) aggregator, a decentralized incubator and “several stealth projects.” All these projects combined can grow its market share 10x, said the CEO. The co-founder and CEO of Ava Labs spoke…

Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022 – Finance Bitcoin News

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Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to the CEO Alan Lane, the firm remains “focused on providing value-added services for [its] core institutional customers.” Confidence Crisis Less than a month after Silvergate Bank reported a massive drop in customer deposits, the crypto-focused financial institution’s parent firm, Silvergate…

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…