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As the COVID-19 pandemic pushed the Egyptian economy into recession and deepening unemployment, more and more Egyptians see the benefits of trading and mining Bitcoin as an alternative source of income. According to Al-Monitor, many Egyptians, particularly young people, are interested in cryptocurrencies. Wael al-Nahhas, an economist and financial advisor to several investment institutions in Egypt, …

Bitcoin use rise in Egypt amid economic recession Read More »

The Bank of Thailand launched the world’s first blockchain-based government savings bond issuance platform using IBM’s blockchain technology. Within two weeks of the launch, the central bank sold more than $1.6 billion worth of savings bonds, as per IBM’s official announcement on Oct. 5, 2020. The use of blockchain technology is said to have reduced the bond …

Thai central bank issues $1.6B in government bonds on IBM blockchain Read More »

The updated Consumer Safety Technology Act, which now includes the Digital Taxonomy Act and the Blockchain Innovation Act, has passed in the House of Representatives and is now headed for the Senate as of Tuesday afternoon. The Digital Taxonomy Act provides definitions for the terms “digital asset” and “digital unit” and would task the Federal Trade Commission with …

Blockchain legislation passes the House, heads for Senate Read More »

Wirex —  the first cryptocurrency platform to be granted a Mastercard principal membership — will release a new multi-currency card on the heels of the membership. Wirex is a London-based crypto payment processor and is regulated by the U.K.’s Financial Conduct Authority, with a license to issue crypto cards in Europe.  The multi-currency Wirex Card will be supported by Mastercard and linked to …

Wirex announces multi-currency crypto card with support from Mastercard Read More »

The rise of DeFi protocols and the demand for tokens in liquidity pools may be contributing to a huge surge in the supply of stablecoins. According to an Sept. 3 tweet from Coin Metrics co-founder Nic Carter, the current supply of stablecoins Binance USD (BUSD), Dai (DAI), HUSD, Paxos Standard Token (PAX), USD Coin (USDC), USDK, Tether (USDT), USDT_ETH, …

Stablecoin market cap increases by $100M every single day Read More »

The Vienna Stock Exchange, or Wiener Börse, has become just the third “official regulated market” worldwide to list a Bitcoin (BTC) product. The exchange listed 21 Shares AG’s Bitcoin and Ethereum (ETH) exchange-traded products (ETPs), ‘ABTC’ and ‘AETH’, on September 1. Thomas Rainer, Wiener Börse’s head of development, emphasized that the listing allows “experienced, local investors” to …

Vienna and Singapore stock exchanges embrace Bitcoin and Ethereum Read More »

The People’s Bank of China is planning to put its digital currency to use at the 2022 Winter Olympic Games in Beijing. According to a Reuters report, Sun Guofeng, the head of the monetary policy department at PBoC, said that the bank does not have a timetable for the rollout of the digital currency. However, going …

China plans to use its digital yuan at the 2022 Winter Olympic Games Read More »

Daegu, the fourth-largest city in South Korea, recently announced their plans to allocate over $6 million towards blockchain and artificial intelligence education. According to Up Korea, Daegu’s officials aim to solve what they consider a “serious shortage of resources in the core technologies of the 4th industrial revolution.” The city’s government plans to bring talented individuals to Daegu …

This South Korean City is Spending Millions to Turn People Into Blockchain Experts Read More »

Blockchain firm HashCash Consultants claims that banks are “chief arbiters” of people’s identities, and need blockchain technology to do it better. According to an Aug. 11 announcement, “accurate identification of an individual is central to banking activities which makes them the chief arbiter of people’s identities.” Still, the current system is not without its issues: “The …

Blockchain Firm Says Banks Need DLT to Manage Identities Better Read More »

The metals and minerals resource trading subsidiary of Mitsubishi Corporation, Mitsubishi Corporation RtM Japan Ltd, has launched a blockchain platform named ECO for precious metals trading. Developed by Mitsubishi in partnership with the American blockchain company Skuchain, the platform is built on top of Skuchain’s EC3 platform for blockchain-based supply chain management and finance. According …

Mitsubishi Launches Blockchain Platform for Metal Trading Read More »