According to the Nikkei Asian Review for June 3, 14 major financial services providers in the banking sector are in a partnership to develop a Cryptocurrency for overseas money transfers. Led by UBS Group AG which is a Swiss multinational investment bank, the Cryptocurrency that is set to be modeled after Bitcoin will be ideal […]
Stablecoins are becoming more relevant as investors are looking for a Cryptocurrencies that are less volatile. Although the significance of Stablecoins may not be a priority at this point given the bullish conditions in the Crypto market, it is an open secret that the rally will end and a correction will follow. This consolidation of […]
ECB Governing Council Can Imagine Use of Crypto Vitas Vasiliauskas, a member of the governing council of the European Central Bank and chariman of the bank of Lithuania has said that cryptocurrency could play a role for the Central Bank. Vasiliauskas talked about stablecoins that could be employed by the Central Bank. However, Vasiliauskas refers […]
The Social Network has created Libra Network to unroll its payment service and its headquarter will be the Swiss city of Geneva. We reported earlier this year that Facebook seeks venture capital investors to launch its stablecoin project.The Swiss newspaper Handelszeitung wrote yesterday that the Libra Network received an entry at the commercial register of […]
Binance Coin Reached ATH The Binance Coin (BNB) rose significantly in its price in the last 48 hours. In fact, the price soared so high that BNB reached a new ATH at $27.84. Thus, BNB is the first coin in the top 25 of coinmarketcap to reach a new ATH after 2017. However, the price […]
Stablecoins that are backed with fiat money have many disadvantages. First of all, they are highly centralized. Thus, they require a lot of trust as Tether and Bitfinex have proven for a long time now. Ultimately, they defeat the purpose for which Satoshi Nakamoto created Bitcoin. His first message on the Bitcoin blockchain reads: “the […]
The crypto project Novem has received a lot of praise recently. NewsBTC wrote that “[i]f you hold these digital tokens you can redeem them for physical gold at a rate of 1/100th gm per NNN token, shipped to your location.” A statement that makes it sound like Novem is already a finished product. However, it […]
The Mitsubishi UFJ Financial Group (MUFG) has announced that it will launch a stablecoin this year. As reported by Cointelegraph Japan, the banking group will release the MUFG Coin later this year. Stablecoin With Yen 1:1 Yen Backing MUFG is the largest financial group in Japan and will likely be the first Japanese bank to […]
Facebook is creating its own native Token that will be used on WhatsApp to facilitate cross-border payments. The new Facebook Cryptocurrency is expected to transform social media by allowing users to participate in financial transactions. Meanwhile, the popularity of Cryptocurrencies is growing as more people are recognizing the importance of Digital Tokens in real-life situations. […]
Stablecoin Issuers Will Likely Need Licences in Texas The Texas Department of Banking announced that stablecoin issuers might need licences in the future if they want to operate in the state. According to the update of a guideline, stablecoins might qualify as money. The decisive statement in the document says “In contrast, because a sovereign-backed […]
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Novem – Another Gold Token Set To Fail?