Mastercard launches CBDC testing platform

Mastercard launches CBDC testing platform

Mastercard has launched a central bank digital currencies (CBDCs) testing platform to enable central banks to assess and explore national digital currencies. The move is seen as positive for crypto because it could help to accelerate the mainstream adoption of digital currencies in general. Led by China, which is testing ...

Continue reading

Fintech pioneer Hong Kong gives nod to OSL platform

Fintech pioneer Hong Kong's nod for OSL platform

(ATF) As the world embraces social distancing and virtual relationships as the new normal, the race is on for setting up digital platforms that will promote speed, efficiency and security in capital markets. And now the involvement of regulators like Hong Kong’s Securities and Futures Commission (SFC) and custodians is ...

Continue reading

Money launderers use fiat, not crypto: report

Money launderers use fiat, not crypto: report

The role played by cryptocurrencies in money laundering has been greatly exaggerated by opponents of the emerging asset class, according to a new report from the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The network, which banks and other financial institutions use for transferring information securely across borders, says fiat ...

Continue reading

Crypto crash: Time to panic or buy the dip?

Crypto crash: Time to panic or buy the dip?

Most cryptos have been bouncing up and down lately, with bitcoin falling below the psychologically significant $10,000 mark on Friday for the first time since late July before being pulled to safety by optimistic investors buying the dip. Crypto traders were rattled by a sell-off in equity markets that saw ...

Continue reading

DeFi cryptos gain serious traction

DeFi cryptos gain serious traction

Decentralised finance (DeFi) projects have been gaining some serious market traction over the past few months, collectively reaching a value of $9.02 billion. Aave continues to be the largest DeFi project, with $1.71bn locked in, followed by MakerDAO with $1.43bn, Balancer at $1.36bn, Curve Finance at $1.26bn, yearn.finance at $953.6 ...

Continue reading

Digital yuan tipped to co-exist with Alipay, WeChat Pay

Digital yuan tipped to co-exist with Alipay, WeChat Pay

(ATF) While the Chinese government recently unveiled a plan to expand digital yuan pilot projects, many believe it will co-exist with the country’s dominant digital payment players, Alipay and WeChat Pay – not replace them. China’s Ministry of Commerce issued a circular recently on the overall plan to deepen services ...

Continue reading

Police seize Korean crypto exchange

Police seize Korean crypto exchange

South Korea’s third-largest cryptocurrency exchange has been seized by police following fraud allegations, according to Cointelegraph , which cited a report by the Seoul Shinmun. Police allege that 99% of Coinbit’s transaction volume was faked through wash trading. The Seoul Metropolitan Police raided and confiscated a number of properties, including ...

Continue reading