Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation…
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Flipkart, the Walmart-backed Indian e-commerce giant, has launched a pilot to allow its customers to experience making purchases in a metaverse environment. The company announced the launch of its own metaverse, called Flipverse, in which several brands will be able to offer their own shopping experiences. Flipkart to Launch Flipverse: A Metaverse of Purchases Flipkart,…
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The monetary authority is developing a wholesale CBDC separately and earlier; it is looking at prospective retail use cases despite the lack of an “imminent role” for the currency. The Hong Kong Monetary Authority (HKMA) published a paper outlining the state of research on its proposed retail central bank digital currency (rCBDC) and plans for…
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Some of the biggest flaws preventing present-day cryptocurrencies from mainstream adoption, pointed out by the BIS execs, are bottleneck congestion in DeFi and the reliance on volatile assets. Governments across the globe see central bank digital currencies (CBDC) as a means to improve the existing fiat ecosystem. Cryptocurrency’s technical prowess supported by the central bank’s…
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The team behind open-source blockchain Solana (SOL) is readying to open its physical store in New York City, USA, to the public, in a bid to promote the Solana blockchain and Web3 at large. The store, dubbed Solana Spaces, is located at a mall in Hudson Yards and was launched in collaboration with the Solana…
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The total crypto market capitalization recovered roughly 5%, but a variety of trading metrics show investors are skeptical about the rally being a trend change. On May 30, the total crypto market capitalization gained 4% and currently is within reach of a $1.3 trillion market capitalization. The move was enough to erase the losses from…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news._____ Crypto platform Crypto.com launched its Crypto.com Pay service to all merchants who use the Shopify e-commerce platform to enable purchases using crypto…. Read More: Crypto Payments on Shopify, Cloudflare Plays With…
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Crypto investors from the United States realized nearly $47 billion in gains during 2021, outpacing the U.K. by a factor of six. Crypto investors from the United States realized crypto gains nearly six times higher in total than the United Kingdom, the second-highest country in terms of realized gains. According to a report by Chainalysis,…
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Google search data and exchange activity point to the declining interest from retail traders as crypto investors search for the next big spark that will bring fresh capital into the ecosystem. One of the main narratives of hope for cryptocurrency investors is that there will be a major shift in public perception that sparks a…
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The Spanish retail behemoth El Corte Inglés is reportedly ready to come good on hints last year that it was eyeing a move into the world of crypto – and might join forces with the “global big four” auditing company Deloitte to launch a crypto exchange…. Read More: Spanish Retail Giant El Corte Inglés…
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