Ripple has announced that its new USD-denominated stablecoin, RLUSD, will be available globally through strategic partnerships with major platforms, including Uphold, Bitstamp, Bitso, Moonpay, Independent Reserve, Coinmena, and Bullish. Fully backed by U.S. dollar reserves, government bonds, and cash equivalents, RLUSD is positioned to enhance financial solutions while ensuring transparency and stability. Ripple Introduces RLUSD…
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Costco’s gold bars are flying off the shelves as record-high gold prices spark a buying frenzy across the U.S. A recent survey found that 77% of Costco stores offering gold sold out in early October. The trend reflects growing demand for gold as a hedge against inflation and economic uncertainty. Costco’s Gold Bars Are Selling…
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Stablecoins are surging in popularity across Sub-Saharan Africa, accounting for 43% of crypto transactions compared to bitcoin’s 18.1%. This trend is driven by the instability of local currencies and limited access to US dollars. Businesses and individuals view stablecoins as a reliable way to store value and conduct international payments. Stablecoins as a Store of…
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Despite clearly articulating reasons for de-dollarization in the Global South, African leaders will struggle to convince residents to embrace national currencies without changing economic management practices. People often lose confidence in a currency when a central bank excessively prints money to pay debts and other obligations. De-Dollarization Hype Not Backed by Practical Action Sometime in…
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Fidelity Investments’ Director of Global Macro sees bitcoin as “exponential gold” and “an aspiring player on the store of value team.” According to his analysis, bitcoin’s price is “driven primarily by the growth in its network, which is in turn driven by bitcoin’s unique scarcity feature, as well as the monetary and fiscal policy cycle,…
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Skybridge Capital founder Anthony Scaramucci firmly believes that bitcoin will be both an inflation hedge and a store of value as the cryptocurrency scales. He emphasized that bitcoin is “still an early stage technical asset that will trade like other risk assets until it exceeds a billion users.” Scaramucci Doubles Down on Bitcoin as Inflation…
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On Dec. 12, Michele Bullock, the governor of the Reserve Bank of Australia, revealed that as much as 75% of Australians are now considered to be “low cash users.” Bullock also noted that the reduction in the use of cash for transactions is putting a strain on the cash distribution system. Australian Senior Citizens Still…
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One of the largest banks in Germany by total assets, DZ Bank, has launched a crypto custody platform. Additionally, the bank disclosed that alongside its solution for institutional customers, it is working on “an offer that allows private customers to invest directly in cryptocurrencies.” Germany’s DZ Bank Debuts Digital Custody Platform DZ Bank, one of…
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Financial services giant Fidelity’s director of global macro says bitcoin is “exponential gold.” He explained that gold is “too deflationary and clunky to be used as a medium of exchange,” noting that “investors own it primarily as a store of value — and one of the many reasons bitcoin is often compared to gold.” Fidelity’s…
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The new all-time highs come despite Bitcoin still being down over 50% against its price peak of $69,000 against the U.S. dollar. The price of Bitcoin (BTC) has notched new all-time highs against some of the world’s most inflationary fiat currencies. Across 30 hours over Oct. 23 to 24, the cost of buying one Bitcoin has…
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