Switzerland took another step to clarify the roadmap for integrating central bank digital currencies (CBDC) into the current financial system. The Swiss National Bank (SNB), the country's central bank, completed the second phase of Project Helvetia with its partners by integrating wholesale CBDC into the existing back-office systems and processes of five banks, namely Citi, … [Read more...] about Swiss central bank tests wholesale CBDC with commercial partners
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Ukraine Commercial Bank to Test Digital Currency Built on Stellar
The statement also said that the pilot will test the use case for programmable payroll with employees at Diia, a public IT solutions enterprise in Ukraine. Danilenko said Tascombank is still considering the number of users that will be taking part in the pilot project as privаte citizens, merchants and institutions are involved. Source link … [Read more...] about Ukraine Commercial Bank to Test Digital Currency Built on Stellar
Tether, Bitcoin and Chinese Commercial Paper at Scale
For critics of Tether, the new economy of digital assets is based on the world’s oldest profession: real estate speculation.Crypto markets took a dip Thursday just around the time it was reported that China’s Evergrande Group was on the verge of defaulting on a bond payment. While the embattled housing giant ultimately made its scheduled payment of $148 million, questions … [Read more...] about Tether, Bitcoin and Chinese Commercial Paper at Scale
DeFi industry draws in commercial banks? Siam bets with $110M fund
While serious institutional interest in crypto is perhaps becoming more of an established trend than an emerging narrative, the focus of big-money players is usually on Bitcoin (BTC). However, assets like Ether (ETH) and decentralized finance (DeFi) are beginning to pique the attention of major investors.For Siam Commercial Bank (SCB), DeFi is a major focus point of its current … [Read more...] about DeFi industry draws in commercial banks? Siam bets with $110M fund
USDT stands by ‘commercial paper’ tether
The stablecoin market has been growing exponentially, and last week, Eric Rosengren — president of the Federal Reserve Bank of Boston — appeared to raise a cautionary flag. “There are many reasons to think that stablecoins — at least, many of the stablecoins — are not actually particularly stable,” he said in remarks before the Official Monetary and Financial Institutions … [Read more...] about USDT stands by ‘commercial paper’ tether