Sweden’s Central Bank lays out its plans for its digital currency
Stefan Ingves, the Governor of Sweden’s central bank, Sveriges Riksbank, has laid out his six-step plan for the introduction of is central bank digital currency. Part one of the plans is that both large value and retail payments must be settled in the central bank digital currency anywhere around the world, at any time, all year round. […]
China passes cryptography law as it gears up for digital currency
China’s largely rubber stamp parliament has passed a new law on cryptography as the country gears up to launch its own digital currency, state media reported at the weekend. China’s central bank set up a research team in 2014 to explore launching its own digital currency to cut the costs of circulating traditional paper money […]
TransferWise expands in Middle East with Abu Dhabi license
TransferWise, the $3.5 billion financial technology start-up backed by investors including Peter Thiel and Richard Branson, is expanding its money transfer service in the Middle East. The company announced Tuesday it obtained a license as a Money Services Provider in Abu Dhabi. The license will allow users in the United Arab Emirates (UAE) to transfer […]
Japanese fintech firm Digital Wallet acquires PH’s Speed Money Transfer
Digital Wallet Corporation (DWC), a Japan-based financial technology (fintech) company, announced today that it has acquired remittance and foreign exchange firm Speed Money Transfer Philippines (SMTP) for an undisclosed amount. SMTP, which operates in the Philippines and Australia, will be renamed as Digital Wallet Philippines following the acquisition. The deal and the name change have […]
Fidelity fully rolls out cryptocurrency custody services
Fidelity, the Boston-based financial services firm with $2.8 trillion USD under management, is fully rolling out its cryptocurrency custody service after launching in fall 2018 and adding some clients in a limited capacity at the beginning of 2019. Abigail Johnson, CEO of Fidelity, highlighted that this move makes a difference for everyday non-technical customers that […]
China’s cryptocurrency plan has a powerful partner: Big Brother
When Facebook announced plans this year for a cryptocurrency called Libra, it said its goal was to reinvent money for the internet age. What the company probably didn’t imagine was that its efforts might spur China to get there first. China wants to start replacing the cash that people carry with a digital currency soon, […]
Japan’s Cryptocurrency Business Association releases new guidance
The Japan Cryptocurrency Business Association (JCBA), an organization that fosters the responsible development of the crypto asset industry in Japan, has released new guidance on the regulation of crypto asset management. The guidance is the result of a consultation process with crypto exchanges, custodians and other parties and takes their viewpoints into account. The guidance […]
Venezuela launches its own cryptocurrency to escape hyperinflation
President Nicolas Maduro says Venezuela has received $US735 million in the first day of a pre-sale of the country’s “petro” cryptocurrency, aimed at pulling the country out of an economic tailspin. Maduro is hoping the petro will allow the ailing OPEC member to skirt US sanctions as the bolivar currency plunges to record lows and […]
