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UBS Digital Cash piloted for blockchain-based multi-currency payments

Image by Ledger Insights UBS is the latest bank to launch a blockchain based solution targeted at corporates and institutions. Given there are often delays with cross border payments, the appeal is the ability to instantly move money between different UBS branches dotted around the world. So far it has piloted domestic transactions and international payments in …

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Bank of Korea signs agreement with regulators for CBDC, tokenized deposit trials

Image by Ledger Insights In September the Korean press reported that the central bank was preparing for a tokenized deposit trial targeting around 100,000 people. It follows the Bank of Korea announcing formal plans for such a trial a year ago, in combination with a wholesale central bank digital currency (wCBDC) for interbank settlement. Yesterday …

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Hong Kong Links Shanghai Trade Data via New Blockchain Hub

Image by The Crypto Times HKMA’s Howard Lee says the initiative will drive digital innovation in cargo trade a Key Highlights Hong Kong and Shanghai launch a blockchainhub to simplify shipping and link trade data globally. The platform boosts trade finance efficiency and supports tokenizedassets and stablecoin growth. Hong Kong’s clear rules and safeguards create …

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Thailand SEC plans DLT-based digital bond trading

Image by Ledger Insights Thailand’s Securities Exchange Commission (SEC) is preparing a digital bond trading system, according to the Bangkok Post. However, this will require legislation to support electronic securities and the online purchase of debentures, so the time frame is not clear. One of the aims is to streamline the issuance of bonds which …

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India’s largest mobile co Jio partners Polygon for web3

Image by Ledger Insights Jio Platforms said it plans to add web3 features to its existing applications through an alliance with the Polygon blockchain. However, the announcement was a little thin on the details of what it’s planning specifically. Jio is the largest mobile phone operator with 448 million active users, a market share of …

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Fed Considers New Account Model for Fintech and Stablecoin Access

Image by The Crypto Times At the Federal Reserve’s Payments Innovation Conference on Tuesday, Governor Chris Waller announced plans for a new category of limited-access “skinny master accounts,” according to former Fox Business journalist Eleanor Terrett. The framework would allow all legally eligible institutions, including fintech firms, stablecoin issuers, and crypto custodians, to connect directly …

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HKEX to use smart contracts, DLT to automate ETP issuance, redemption

Image by Ledger Insights Today the Hong Kong Exchanges and Clearing (HKEX) announced plans to automate the creation and redemption of some exchange traded products (ETPs) in 2025. The new web based platform will use distributed ledger technology and smart contracts and is subject to regulatory approval. The aim is to boost efficiency and encourage …

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Huawei mobile OS Harmony embeds digital yuan so don’t need CBDC app

Image by Ledger Insights After the U.S. government blocked Google from working with Chinese technology firm Huawei, it developed its own operating system, Harmony OS, which drops compatibility with Google’s Android. It previously announced plans to integrate with the digital yuan, but now it has done it, incorporating the central bank digital currency (CBDC) at …

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Nigeria’s President Urges Judges to Learn Blockchain to Fight Crimes

Image by The Crypto Times Nigerian President Bola Ahmed Tinubu, has asked the judges to learn about blockchain, cryptocurrency, and new digital systems so they can tackle modern financial crimes better. During his speech at the at the Economic and Financial Crimes Commission (EFCC)–National Judicial Institute (NJI) Workshop for Justices and Judges in Abuja, Nigeria …

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Deutsche Bank, UBS settle tokenized deposit payments in Bundesbank Trigger solution experiment

Image by Ledger Insights Last week UBS said it was piloting UBS Digital Cash, a blockchain-based solution for multi-currency payments that allows clients to move money between UBS branches around the world instantly. That works for intrabank payments, but what if the recipient is at a different bank? Today UBS and Deutsche Bank announced they …

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