Tag: Report

Tether adds Bahamas-based private bank Britannia as partner: Report

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Tether, the stablecoin issuer behind USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas to process dollar transfers on its platform. It is understood Tether has instructed clients to send money to Britannia’s bank account over the last few months, according to an Aug. 29 report by Bloomberg, citing people familiar with the matter. However, it isn’t clear when Tether’s banking relationship with Britannia Bank started, but its other reported banking partners include Deltec Bank and Capital Union Bank. In recent months, United States-based…

JPMorgan forecasts limited downside for crypto markets: Report

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The cryptocurrency market’s recent downtrend appears to be coming to an end, as JPMorgan’s latest research suggests that most long-position liquidations have been completed. According to a Bloomberg report, analysts for the American bank estimate that the liquidations are “largely behind us.” The prediction is based on the open interest in Bitcoin (BTC) futures contracts on the Chicago Mercantile Exchange (CME) indicating that the selling trend might soon decelerate. Open interest, which refers to active futures contracts, serves as an indicator of market sentiment and the strength of price trends.…

Hong Kong regulator eyes tokenization for bond market improvement: Report

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The Hong Kong Monetary Authority (HKMA) released a report on Aug. 25 detailing the findings of its Project Evergreen study which analyzed the market impact of bond tokenization.  In a 24-page overview, the Hong Kong regulator laid out use cases, benefits and any challenges faced during the study. The concluding sentiment being that tokenization provides improvement for the bond market. Eddie Yue, the chief executive of the HKMA, said the study highlighted the potential of deploying distributed ledger technology (DLT) to real capital markets transactions with the current legal framework…

Mastercard and Binance end crypto card partnership in Latin America: Report

Global payment giant Mastercard is reportedly ending its cryptocurrency card partnership with Binance crypto exchange next month, according to a Bloomberg report. The report didn’t divulge the reason for the change, but implied it might be due to increased regulatory scrutiny of the beleaguered crypto exchange. Mastercard and Binance will end their four crypto card programmes in Argentina, Brazil, Colombia starting Sept. 22, Bloomberg reported on Aug. 24. The decision to end the program will not impact any of Mastercard’s other crypto card programmes, the firm reportedly said. The wind-down…

Vessel Capital secures $55M to invest in Web3 infrastructure: Report

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Venture capital firm Vessel Capital has announced a $55 million fund to invest in Web3 infrastructure and applications, TechCrunch reported. According to the founders, their goal is not to scale, but rather to assist crypto founders working on early-stage startups to launch and grow their projects. “Crypto has become more global, so it’s not the same circle and group you might have seen in 2018-2020, and we want to be able to help more people,” Mirza Uddin, one of the co-founders, said. Aside from Vessel, Uddin is also head of…

Paxos Report: Is Blockchain The Next Step For Global Remittances?

The age of digital currencies and blockchain technology is upon us, with an increasing number of institutions advocating for their widespread adoption. At the forefront of this conversation is Paxos Trust Company, the New York-based stablecoin titan. In a recent announcement, the firm strongly contended that blockchain technology could fundamentally reshape the global remittance landscape, streamlining the flow of funds and bolstering economies worldwide. Blockchain-powered remittance platforms are aiming to transform this industry with security and transparency, cost efficiency and speed and accessibility. Read more about the ways blockchain can…

Australia’s central bank releases report highlighting CBDC use cases

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Australian Central Bank, in collaboration with the Digital Finance Cooperative Research Centre, has published a comprehensive report outlining the potential use cases for Central Bank Digital Currencies (CBDCs). Additionally, they have successfully concluded a pilot program aimed at studying its practical applications. 16 entities that participated in the pilot program added that CBDC could be beneficial for innovation and even boost Australia’s economy. The report identified four key areas where the Australian digital dollar could…

Crypto entrepreneur faces potential prosecution in Israel related to $290M scam: Report

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Police in Israel have reportedly accused entrepreneur Moshe Hogeg of defrauding users out of roughly $290 million through scams involving crypto projects. According to an Aug. 23 report from the Times of Israel, the national police force recommended to prosecutors that Hogeg be charged with fraud, theft, money laundering, and sex crimes, accusing the Israeli citizen of raising $290 million from investors for crypto projects under false pretenses. The entrepreneur had been previously detained by Israeli authorities in November 2021 for allegedly engaging in unlawful activities including fraud involving cryptocurrency,…

Shopify to accept USDC payments with Solana: Report

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E-commerce giant Shopify has added Solana Pay to its pool of options for payment, allowing millions of merchants to use the platform to accept crypto transactions, kicking off with USD Coin (USDC) stablecoin payments.  According to TechCrunch, Solana plans to add other altcoins to the platform in the coming months, including its native token Solana (SOL) and the meme token Bonk Coin (BONK). Josh Fried from Solana Labs branded the intersection of digital assets and payment solutions as the “killer app for crypto,” adding that “[Everyone] should be doubling down…

Atomic Wallet faces lawsuit over $100M crypto hack losses: Report

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A group of disgruntled cryptocurrency investors have launched a class action against Atomic Wallet, which suffered a major breach and $100 million in losses in June. Dozens of high-net worth investors from Russia and the Commonwealth of Independent States are part of the class action against Atomic Wallet, the German business media agency bne IntelliNews reported on Aug. 21. The lawsuit is being coordinated by German lawyer Max Gutbrod and Boris Feldman, a co-founder of Moscow legaltech firm Destra Legal. Gutbrod, former partner of over two decades at Baker &…