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Blockchain technology is continually reshaping the financial industry, offering promising transformations in transaction processing. Its potential is immense, as outlined in a recent report by digital payment network Ripple in collaboration with the United States Faster Payments Council (FPC). The report presents a robust case for blockchain’s role in
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Blockchain has the potential to save financial institutions approximately $10 billion in cross-border payment costs by the year 2030, according to a recent report.Published by digital payment network Ripple, in collaboration with the US Faster Payments Council (FPC) on July 29, the report surveyed 300 payment leaders across the world,
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Social media platform X — formerly known as Twitter — may soon advance plans to add financial services to its users, hoping to become the American equivalent of the Chinese super-app WeChat.The concept of super-apps isn’t new. Tech giant Tencent, the company behind WeChat, has been refining the model since
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Saudi Arabia’s Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) recently held a meeting to discuss ways of boosting financial services integration and cooperation. The July 27 meeting aimed to strengthen the partnership between Saudi
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The House Financial Services Committee advanced a set of crypto bills after a landmark markup on Wednesday. Source
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The U.S. presents many obstacles to crypto companies, with a multiplicity of federal and state regulatory agencies having real or potential jurisdiction over the industry. Its unique political environment has contributed to more governmental skepticism toward crypto than is seen in other countries, and high-profile punitive actions by the Securities
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Elon Musk shared an update for users with more information on Twitter's rebranding to X, saying it’s part of a larger plan to incorporate financial services on the platform. On July 25, Musk tweeted that his X Corp enterprise acquired Twitter in the name of freedom of speech and to advance
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The regulator, which is in charge of maintaining a registry of crypto firms approved for operations under the country's anti-money laundering requirements, will also consult on prudential rules for companies engaged in crypto activities once the "Treasury and Parliament bring those activities under our regulation," the regulator said in its
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The United Kingdom’s Financial Conduct Authority (FCA) has announced the launch of its Digital Sandbox, aimed at supporting tech firms in the early stages of product development.In a July 20 announcement, the FCA said the Digital Sandbox will become available on a permanent basis starting on Aug. 1. The financial
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A sandbox provides a secure setting in which developers can test and evaluate their products in the knowledge that any unintended side effects will be isolated from a live environment. The FCA's offering can be configured to support a number of distributed ledgers and digital-asset use cases, like building interoperability
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