UK-native stablecoin integrates into 18,000 ATMs nationwide

UK-native stablecoin integrates into 18,000 ATMs nationwide

Source: Cointelegraph A partnership between Poundtoken and BitcoinPoint will make the country’s first 100%-backed British pound stablecoin, GBPT, accessible to retail consumers via a network of 18,000 ATMs across the United Kingdom. The move marks another step toward the U.K. becoming a “crypto hub” and is in line with the government’s push to use stablecoins […]

China’s digital yuan gets smart contract functionality alongside new use cases

China’s digital yuan gets smart contract functionality alongside new use cases

Source: Cointelegraph China’s central bank digital currency (CBDC) — the digital yuan, or eCNY — has received upgrades giving it smart contract functionality alongside a series of newly unveiled use cases. The smart contract function was launched on the Meituan app, a Chinese app offering retail and food delivery services, according to a Jan. 17 report by local […]

Iran and Russia want to issue new stablecoin backed by gold

Iran and Russia want to issue new stablecoin backed by gold

Source: Cointelegraph The Central Bank of Iran is reportedly cooperating with the Russian government to jointly issue a new cryptocurrency backed by gold. According to the Russian news agency Vedomosti, Iran is working with Russia to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade. The token […]

China’s central bank includes digital yuan in report on currency circulation

China’s central bank includes digital yuan in report on currency circulation

Source: Cointelegraph The People’s Bank of China, or PBoC, has begun including the country’s central bank digital currency, the e-CNY, in reports measuring the amount of currency in circulation. According to a 2022 financial statistics report released on Jan. 10, the PBoC said there was 13.61 billion digital yuan — worth roughly $2 billion at the time […]

Nigeria to create legal framework for stablecoins and ICOs

Nigeria to create legal framework for stablecoins and ICOs

Source: Cointelegraph As one of the world’s pioneers in adopting its own central bank digital currency (CBDC), Nigeria also declares its readiness to accept the existence of private stablecoins. The necessity to create a legal framework for stablecoins is noted in the latest central bank strategy paper.  Published under the headline “Nigeria Payments System Vision […]

Russia to begin work on CBDC settlement system as sanctions endure

Russia to begin work on CBDC settlement system as sanctions endure

Source: Cointelegraph Russia’s central bank is reportedly set to begin developing a cross-border settlement system using a central bank digital currency (CBDC) amid ongoing sanctions in response to its invasion of Ukraine. The plans to move forward with Russia’s digital ruble are expected to come in the first quarter of 2023 and will see Russia’s […]

Turkey to use blockchain-based digital identity for online public services

Turkey to use blockchain-based digital identity for online public services

Source: Cointelegraph Turkey plans to use blockchain technology during the login process for online public services. E-Devlet, Turkey’s digital government portal used to access a wide range of public services, will use a blockchain-based digital identity to verify Turkish citizens during login. Fuat Oktay, the vice president of Turkey, announced during the Digital Turkey 2023 […]

China’s CBDC wallet resorts to ages-old tradition to boost adoption

China’s CBDC wallet resorts to ages-old tradition to boost adoption

Source: Cointelegraph China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money in an electronic version of traditional “red packets” to try to attract new users. The new feature was released over the weekend, around one month ahead of the Chinese New Year on Jan. 22, as reported by […]

Japan to lift the ban on foreign stablecoins like USDT in 2023: Report

Japan to lift the ban on foreign stablecoins like USDT in 2023: Report

Source: Cointelegraph Japanese regulators are reconsidering some major cryptocurrency restrictions related to the use of stablecoins like Tether or USD Coin. The Financial Services Agency (FSA) of Japan will lift the ban on the domestic distribution of foreign-issued stablecoins in 2023, local news agency Nikkei reported on Dec. 26. The new stablecoin regulations in Japan will allow local […]

Bank of England opens applications for ‘proof of concept’ CBDC wallet

Bank of England opens applications for 'proof of concept' CBDC wallet

Source: Cointelegraph The Bank of England (BOE) is seeking a “proof of concept” for a wallet that will be able to hold a central bank digital currency (CBDC). On Dec. 9, the BOE posted a request for applications on the United Kingdom government’s Digital Marketplace, a service where government organizations can solicit work for digital projects. Simple […]