Cryptocurrency Analysis and News Portal
As for DeFi, details are sparse, but a new project at the Hong Kong center plans to explore whether DeFi technologies including blockchain, tokenization and smart contracts, can “improve financing for small and medium enterprises, a historically underserved market segment.” Original Source
Read More
The testing, which took place over three days at the start of December 2021, proved that issuing a wholesale CBDC on a DLT platform operated and owned by a private-sector company (Swiss stock exchange owner SIX, in this case) was both operationally possible and feasible under Swiss law, according to
Read More
The Bank for International Settlements, the umbrella group for central banks, named an expert in central bank digital currencies (CBDCs) as the head of its innovation center for the euro region.Raphael Auer is currently an economist in the Innovation and the Digital Economy unit of the BIS’ Monetary and Economic
Read More
A Bank of International Settlements (BIS) executive, Benoît Cœuré, says that crypto is “growing very fast” and ”becoming mainstream in different ways.” Emphasizing that decentralized finance (defi) is a “wake-up call” for financial regulators, he said countries “are likely to agree on a global framework for crypto next year.” BIS Officer Sees
Read More
“To successfully front-run, you need to be able to predict the short-term price moves of the underlying [asset] with relative confidence; the volatility of bitcoin and the crypto asset-class makes that a particularly difficult task, fraught with risk,” Sui Chung, CEO of CF Benchmarks said in a Telegram chat. “What
Read More
The report suggests that, based on the experiment, an intraday, wholesale CBDC could have a positive impact on financial stability and limited influence on monetary policy. But Sylvie Goulard, deputy governor of the Bank of France, said that the scale of the experiment was too limited to arrive at broader
Read More
The review warned that stablecoins like DAI, which are backed by crypto assets, are “exposed to market risk, because the value of these assets can quickly drop below the face value of stablecoins.” The crypto arena doesn’t have a fallback like banks that can provide liquidity at times of stress,
Read More
The Federal Reserve Bank of New York has announced it will be partnering with the Bank for International Settlements Innovation Hub as part of the launch of its New York Innovation Center, an initiative aimed at exploring technology used to develop the global financial system. In a Monday speech for the
Read More
The Federal Reserve Bank of New York launched the New York Innovation Center (NYIC) to build and test new financial technology including central bank digital currencies (CBDC), stablecoins and cross-border payments, the central bank division announced Monday.The NYIC is the result of a strategic partnership between the New York Fed
Read More
The report’s authors question whether stablecoins could “offer lasting competitive advantages over rapidly developing, evolving digital payment services,” including digital ID, e-money and mobile banking. They add that stablecoins could generate new risks related to such issues as governance, efficiency in payment processes, consumer protection and data privacy. Source
Read More