Blog Archives

Silvergate decision to shut down would be a fresh crisis in already fragile crypto ecosystem. Silvergate Capital, a central lender to the crypto industry, said on Wednesday that it’s winding down operations and liquidating its bank. The stock plunged more than 36% in after-hours trading, according to CNBC.

Revolut has released its 2021 accounts, for the first time showing FY profit. But how important was crypto to the results, and can this continue into 2022 and beyond?

The answer from crypto aficionados is an emphatic “no”. After all, most of those who are serious about bitcoin or ethereum got involved because they want to overturn existing financial hierarchies, and they believe that central bankers are too old-fashioned to understand the innovative power of digital assets.

The launch of the collection, called ‘Hood Heroes’, lays the groundwork for an ecosystem where fans become partners with artists by distributing royalties to NFT holders. The collection offers a guaranteed return (APY) of 10% for 2 years with monthly distribution.

As previously announced, the Reserve Bank is collaborating with the Digital Finance Cooperative Research Centre (DFCRC) on a research project to explore potential use cases and economic benefits of a central bank digital currency (CBDC) in Australia.

The Bank for International Settlements (BIS) and the central banks of Israel, Norway and Sweden have concluded Project Icebreaker, which studied the potential benefits and challenges of using retail central bank digital currencies (CBDC) in international payments. The subject will be discussed at Banking 4.0.

Central bank digital currency (CBDC) is an exciting area of development from many central banks across the world, particularly in the Nordics. Some countries within the Nordics have taken the lead on these developments, while others remain more sceptical over how the benefits outweigh the risks.

The basis of coming global crypto rules will be formed on a new synthesis paper, jointly produced by the International Monetary Fund (IMF) and the Financial Stability Board (FSB), announced India as the holder of the Group of 20 (G20) Presidency in Bangalore.

The announcement came after three days of meetings in India among the 20 largest economies of the world, collectively known as the G20, in which creating a global regulatory framework for crypto was a priority.

Linux Foundation Europe, an independent trusted supporter and vendor-neutral home for open source projects in Europe, announced the official formation of the OpenWallet Foundation (OWF). This new, collaborative effort will develop open source software to support interoperability for a wide range of wallet use cases, including making payments, proving identity, storing validated credentials such as employment, education, financial standing, and entitlements — to enable trust in the digital future.

Crypto exchange Binance and France-based payments firm Ingenico announced a strategic partnership to ease crypto payments in France. Binance on February 22 said the company has partnered with Ingenico, a global payment solutions firm, making it easy for users to pay through Binance Pay. It considers the partnership as another milestone for global crypto adoption. The partnership made crypto payments easier in France.