On Friday, the official fiat currency of 19 out of the 27 member states of the European Union (EU), the euro, plunged to a low of $0.9732 against the U.S. dollar. The drop comes at a time when fiat currencies like the yen, yuan, and pound have struggled against the greenback during the past six…
Read more
The European Central Bank (ECB) has selected five companies to help develop user interfaces for a digital euro. Each company will work with the ECB and focus on one specific use case of the digital euro. Amazon has been chosen to focus on e-commerce payments. ECB Collaborates With 5 Companies on Digital Euro The European…
Read more
The five fintech, payments and e-commerce firms will create front-end prototypes for the digital euro, which will not be used in later phases of the CBDC project. The European Central Bank, or ECB, has announced it will be collaborating with five companies for the development of potential digital euro user interfaces. In a Friday announcement,…
Read more
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Amazon and 4 Others to Work on Digital Euro Prototype, White House’s ‘Comprehensive Crypto Framework’, Hong Kong’s Scam Warning + More News Read more »Sign up for e-EUR – the progressive…
Read more
Following the discussions concerning the inter-governmental political forum Group of Seven (G7) pledging to impose price caps on crude oil and the European Commission talking about fixing electricity prices, Russian president Vladimir Putin explained on Wednesday that Russia will not supply the industrialized economic powers and the West with energy. “We will not supply gas,…
Read more
Wall Street’s major indexes closed the day in red on Tuesday, alongside cryptocurrencies, and precious metals like gold and silver taking some percentage losses. The leading crypto asset bitcoin dropped 5.87% under the $19K region, while the second largest crypto asset ethereum shed 8.7%. Gold’s nominal U.S. dollar value per troy ounce slipped by 0.50%,…
Read more
The Eurozone’s inflation rate reached a record high in August of 9.1%, the highest ever recorded in history, according to Europe’s statistics office Eurostat. The rate was higher than economists suspected and most of the rise was fueled by Europe’s rising energy prices. Europe’s Torrid Inflation Continues to Rise, While the Region Faces an Energy…
Read more
According to the French politician currently serving as the president of the European Central Bank (ECB), Christine Lagarde, Europe’s scorching hot inflation can be blamed on climate change. During her interview with Madame Figaro, Lagarde stressed that people need to take into account that “climate disasters” affect price stability a great deal. ECB Board Member…
Read more
“An economy dominated by digital payments but without a strong monetary anchor would be inherently unstable,” claimed Rehn. In a novel address at the University of California Berkley published on Wednesday, Olli Rehn, governor of the Bank of Finland, touted the possibility of a digital euro centralized bank digital currency (CBDC) functioning in tandem with…
Read more
The new guidelines from the Federal Reserve hold a prospect of “the most stringent review” for non-federally insured institutions. Last week, the United States Federal Reserve Board turned its eye to banks and crypto, making (or promising to make) several clarifications, one of them pretty long-awaited. It announced that the final version of guidelines for…
Read more
