The Evolution of Finance: The Role of Digital Settlement Assets in Transforming Financial Markets
In this webinar, our panellists discuss the role of wholesale settlement assets in the financial services ecosystem, looking at questions such as: Panellists include:
PayPal USD Stablecoin Holds Strong with Full Asset Backing, Says Paxos Report
Stablecoin provider Paxos has disclosed its first transparency report for Ethereum-based stablecoin, PayPal USD (PYUSD), affirming the full asset backing of the coin. The report unveils that as of August 31, 2023, the total assets overseen in PayPal USD custody are at par or surpass the total token balance, registering at $44.4 million with a […]
Future Bank of England Deputy Governor: Crypto Not Gambling, Should Be Treated as a Financial Activity
Sarah Breeden, who assumes the role of deputy governor of financial stability at the Bank of England on November 1, has drawn attention to the potential risks associated with cryptocurrencies while also highlighting the advantages of the underlying technology. She made these remarks during a session with Parliament’s Treasury Committee. In her new position, Breeden, […]
BIS: Stablecoins vs. Tokenized Deposits – Implications for the Uniqueness of Currency
The modern monetary system rests upon a fundamental concept known as the “uniqueness of currency.” This principle ensures that monetary transactions are not subject to fluctuating exchange rates between various forms of money, whether they are privately issued (e.g., deposits) or publicly issued (e.g., cash). The uniqueness of currency establishes an unequivocal unit of account […]
Visa Expands Stablecoin Settlements with Solana and Partners Worldpay and Nuvei
Visa is taking significant steps to modernise cross-border money transfers, with plans to expand its stablecoin settlement capabilities to the Solana blockchain. The company is collaborating with merchant acquirers Worldpay and Nuvei to facilitate this development. Visa has already initiated live pilots with issuers and acquirers, effectively moving millions of USDC (USD Coin) between its […]
UK Regulated Liability Network to experiment with digital pound as tokenized deposits
Source: Ledger Insights Earlier this year, the Regulated Liability Network (RLN) made a big splash in the United States with trials involving several banks, Mastercard and the New York Federal Reserve. Now the UK Regulated Liability Network plans to experiment with a retail digital pound backed by commercial bank money or tokenized deposits. The RLN is a blockchain network […]
Federal Reserve Faces Criticism for Potential Disruption of Stablecoin Regulations
A recent supervisory communication from the Federal Reserve concerning the utilisation of dollar tokens, like stablecoins, for facilitating payments by state member banks, has ignited controversy among members of Congress on Monday, August 28th. The Federal Reserve recently issued a set of guidelines for state member banks, stipulating the necessity of obtaining written supervisory nonobjection […]
Is safe the new sexy? CBDCs, trust and the evolution of money
Source: Mastercard Central banks have been exploring ways to issue their own digital currencies for years. Yet their efforts haven’t captured the public’s attention — for better or, more recently, for worse — like cryptocurrencies have. But central bank digital currencies, or CBDCs — essentially a digital version of fiat currency backed by a government […]
Palau’s Inaugural Blockchain Summit: Building on Ripple’s CBDC Partnership and Web3 Innovation Drive
The picturesque island nation of Palau is setting the stage for its inaugural event, the Palau Blockchain Summit. This summit signifies Palau’s stride into the realm of blockchain technology, with a focus on accelerating the nation’s digital transformation. By embracing various Web3 initiatives and collaborating with industry leaders, Palau aims to position itself as a […]
Singapore Unveils Regulatory Framework for Single-Currency Stablecoins
In a move aimed at fortifying the stability of single-currency stablecoins, Singapore’s central bank has introduced a comprehensive regulatory framework. According to the Monetary Authority of Singapore (MAS), the framework will be applicable to non-bank entities that issue single-currency stablecoins tied to either the Singapore Dollar or any of the G10 currencies. This will come […]
