Brazil’s central bank has named its upcoming digital currency “DREX,” which it aims to use to boost financial services. DREX is scheduled to launch next year. The DREX will use distributed ledger technology (DLT) to settle wholesale interbank transactions, while retail access will be based on tokenized bank deposits. Officials Read more…
PayPal has launched a U.S. dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. PayPal’s announcement, which lifted its shares 2.66% on Monday, reflects a show of confidence in the troubled cryptocurrency industry that has over the last 12 months grappled with Read more…
Silicon Valley-based payments firm PayPal announced it is launching a U.S. dollar stablecoin in conjunction with Paxos. The new digital token will be pegged to the dollar and “gradually” made available to PayPal’s customers in the U.S., PayPal said in a press release. Paxos will issue the coin labeled PayPal Read more…
A key congressional committee on Wednesday advanced a bipartisan bill that aims to develop a regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry. The bill passed by the House Financial Services Committee would define when a cryptocurrency Read more…
Worldcoin, Sam Altman’s audacious eyeball-scanning crypto startup, has started the global rollout of its services to help build a reliable solution for “distinguishing humans from AI online,” enable “global democratic processes” and “drastically increase economic opportunity.” The startup, which has raised about $250 million altogether and counts Andreessen Horowitz, Khosla Read more…
Sam Bankman-Fried’s younger brother, who was a top lobbyist for failed crypto exchange FTX, considered purchasing the island nation of Nauru in the Pacific to create a fortified apocalypse bunker state, a lawsuit filed in Delaware bankruptcy court shows. Gabe Bankman-Fried was looking at buying Nauru in the “event where Read more…
Some two dozen central banks across emerging and advanced economies are expected to have digital currencies in circulation by the end of the decade, the Bank for International Settlements (BIS) found in a survey published on Monday. Central banks around the globe have been studying and working on digital versions Read more…