Universal Digital Payments Network launched at Davos

Universal Digital Payments Network launched at Davos

Source: Finextra A Universal Digital Payments Network (UDPN) for stablecoins and Central Bank Digital Currencies (CBDCs) was launched at the World Economic Forum (WEF) in Davos. The network aims to provide interoperability between these digital currencies. UDPN has been in development for the last two years with contributions from GFT, Red Date Technology, TOKO, and […]

Despite crypto crash, financial institutions are cautiously wading into digital assets

Despite crypto crash, financial institutions are cautiously wading into digital assets

Source: OMFIF This year will be remembered as one of reckoning for digital assets. After years of slushy and speculative asset price growth and the spread of numerous junk cryptocurrencies, with at best dubious value, the rapid collapse of the crypto world is something many economists had expected for a long time. Yet, amid such dynamics is […]

Adoption grows as more than $7T settled with stablecoins in 2022

Adoption grows as more than $7T settled with stablecoins in 2022

Source: CryptoSlate The ongoing bear market did little to curb the rising use of stablecoins. On the contrary, dollar-pegged coins like USDT and USDC saw a parabolic growth in market cap this year, becoming a defacto settlement currency of the crypto industry. Following the collapse of Terra and its algorithmic stablecoin UST, the two stablecoin giants took over the majority of stablecoin […]

Australia’s CBDC partner sees advanced economies issuing wholesale CBDCs first

Australia’s CBDC partner sees advanced economies issuing wholesale CBDCs first

Source: Ledger Insights Digital Finance CRC (DFCRC), the research organization working with the Reserve bank of Australia on a central bank digital currency (CBDC) pilot, published a report on the state of CBDC globally. For advanced economies, it believes that wholesale CBDCs are likely to be issued before retail ones. And it raised a few areas where […]

The Ripple Drop Ep. 28: Interoperability in Blockchain

The Ripple Drop Ep. 28: Interoperability in Blockchain

Source: Ripple We’ve seen the power and opportunity that lies within blockchain technology through use cases that support cross-border payments, reduce voter fraud, increase the efficiency of supply chain management, and lower healthcare costs. The advancements made possible by blockchain are vast, and leveraging the benefits of multiple blockchain platforms via interoperability can create an even greater impact. On […]

Major stablecoins destabilized as market volatility and redemptions surge

Major stablecoins destabilized as market volatility and redemptions surge

Source: Cointelegraph Plunging cryptocurrency prices are not the only consequence of this week’s FTX-induced crypto contagion.  Significant market volatility this week induced by the collapse of the FTX exchange has impacted stablecoins with many of them depegging temporarily. According to CryptoQuant senior analyst Julio Moreno, nearly all leading stablecoins have experienced some level of peg volatility this week. […]

IMF proposes DLT, DeFi-inspired alternative to cross border CBDC

IMF proposes DLT, DeFi-inspired alternative to cross border CBDC

Source: Ledger Insights Last week the IMF published a paper on X-C, a platform for cross border payments, co-authored by the IMF and members of MIT’s Digital Currency Initiative. The solution proposes a global centralized ledger for cross border payments in which central banks, banks and payment providers participate. An X-C platform would not just centralize payments and […]