The Monetary Authority of Singapore (MAS) recently published a whitepaper proposing a common protocol for the use of digital money. The whitepaper, developed in collaboration with the International Monetary Fund, Banca d’Italia, Bank of Korea, financial institutions, and FinTech firms, aims to specify conditions for the use of digital money, such as central bank digital currencies (CBDCs), tokenized bank deposits,
The future of cryptocurrency is in doubt after the U.S. Securities and Exchange Commission (SEC) filed lawsuits against two major crypto companies, Coinbase Global Inc. and Binance Holdings Ltd. The lawsuits have raised serious questions about the legality and future of cryptocurrencies, but some are turning to the potential of artificial intelligence (AI) to provide new opportunities for the blockchain
In a recent announcement, UST has revealed its role as an innovation vendor for Project Rosalind. The project is an experiment in application programming interface (API) prototypes for central bank digital currencies (CBDC), an initiative of the Bank for International Settlements (BIS) and the Bank of England (BOE) via the BIS Innovation Hub London Centre. The project’s primary objective was
The competition to dominate the future of money and finance is heating up around the world, with many financial canters seeking to establish themselves as alternative crypto hubs. However, as the world watches London, Dubai, and Singapore attempt to lead in this field, China is taking a dual approach to crypto through its special administrative region, Hong Kong. Alternative crypto
Cryptocurrencies have taken the world by storm in recent years. Bitcoin and other digital currencies have emerged as popular investment assets for people all around the globe. With the growing popularity of cryptocurrencies, digital coin investors must understand the need to protect their investments. Cryptocurrencies are susceptible to various risks, such as cyber attacks, fraud, and theft. Therefore, it is
The world of blockchain technology is in constant flux. As new developments arise, existing ecosystems must adapt or risk falling behind. One such ecosystem is Terra Classic, an autonomous blockchain developed by Terraform Labs. Despite the launch of Terra 2.0, Terra Classic has remained steadfast in its mission to provide a stable and secure blockchain platform. Now, a group of
The cryptocurrency and blockchain markets have become a massive driving force for economic growth in various areas around the world. Japan has been a key growth factor in the crypto world, and many projects have moved there from countries with more restrictive regulations. The Japanese government has recently recognized the potential of the crypto market and is looking to attract
The adoption of blockchain technology has exploded in recent years, as both businesses and individuals perceive a range of benefits to leveraging this technology. At the same time, artificial intelligence (AI) has also become increasingly important in industries across the board to enhance efficiency, reduce costs, and optimize workflows. Now, blockchain and AI are converging, creating new synergies and opportunities
In an age where innovation is the driving force behind economic growth, investing in emerging technologies is essential. One such technology making waves is Web3, an umbrella term for the decentralization movement that includes blockchain, cryptocurrencies, and decentralized finance (DeFi). Web3 investments are being touted as the perfect hedge against disruption in the tech industry, and with good reason. Surge
Hong Kong has long been known as a global financial hub and a leader in technology and innovation. However, according to a recent study conducted by the Research Office at Hong Kong’s Legislative Council, the city is lagging behind its East Asian and Gulf counterparts in terms of Web3 development. The study highlights the need for Hong Kong to take
BitGo, the American crypto custodian platform, has decided to cancel its planned acquisition of Prime Trust, leading to confusion and uncertainty for those involved with the latter. Following this announcement, Prime Trust has taken measures to suspend withdrawals, which has further added to the speculation concerning the company’s alleged financial challenges. The intended acquisition of Prime Trust by BitGo was
Mastercard, a leading global payment and financial services company, has announced that it is expanding its Engage program to support blockchain and cryptocurrency technology. The Engage program is designed to help partners quickly launch and scale products that power the decentralized Web3 economy. Mastercard is now set to simplify the process for businesses to work with it and bring new
