Eastern Caribbean Central Bank Takes Step Towards Cryptocurrency Rollout

The  ECCB (Eastern Caribbean Central Bank) is going to lead a pilot for a blockchain-based central bank digital currency (CBDC). This is in anticipation of its arranged full release as a legal tender, potentially in 2020. Eastern Caribbean Central Bank Takes Step Towards Cryptocurrency Rollout.   Towards the end of last month, the ECCB signed […]

Egypt’s Central Bank Conducting ‘Feasibility Studies’ Around Digital Currency Issuance

Egypt’s Central Bank Conducting ‘Feasibility Studies’ Around Digital Currency Issuance. However, the central bank of Egypt wants to introduce a digital version of the Egyptian pound to reduce costs. Subsequently, Ayman Hussein, sub-governor of the Central Bank of Egypt (CBE), told that “feasibility studies” were currently ongoing. Additionally, Egypt believes a blockchain-based digital version of […]

Singapore Central Bank Brings Out Updated ICO Guidelines

  The Monetary Authority of Singapore (MAS) has brought new guidelines for businesses who want to raise capital via Initial Coin Offerings (ICOs).   The updated guidelines follow up to the announcement of introducing a “New Payments Framework” made in the original draft. The draft elaborates the Singapore central bank’s stance on how certain intermediaries […]

Financial institutions

  Financial institutions, otherwise known as banking institutions, are corporations which provide services as intermediaries of financial. Broadly, there are three major types of financial institutions. Depository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies; Contractual institutions – insurance […]

Central Banks Should ‘Consider’ Issuing Digital Currency

Central Banks Should ‘Consider’ Issuing Digital Currency – Christine Lagarde, the Managing Director and Chairperson of the International Monetary Fund (IMF) has said that central banks around the world need to consider issuing digital currencies. Lagarde added, there is a role for central banks to enter the world of digital currencies. Therefore, it is necessary […]

Money Laundering By Banks Vs Crypto Exchanges

 Money Laundering By Banks Vs Crypto Exchanges-Banks all over the world has developed their own history, with the underlying premise that they work for their customers’ satisfaction every single day. Cryptocurrency service providers do not seem to have that type of trusting history. The customer still believes in the banking system much more than crypto […]

Blockchain to be a $7 Billion Market

 Blockchain to be a $7 Billion Market -The Bank of America, which is the ninth-largest bank in the world by total assets, an American multinational investment bank and financial service provider, has predicted Blockchain adoption will eventually be a multibillion-dollar opportunity for tech companies like Amazon and Microsoft. Blockchain Milestone Although BoA’s analyst Kash Rangan […]

Transfer Of Funds In Ethereum Cheaper

Transfer Of Funds In Ethereum Cheaper. The Ethereum network with a meager transaction fee of $0.06 processed more than $183 million value of a transaction. The Ethereum network took over 19 hours to complete the transaction without having to go through expensive intermediaries. This very transaction is a testimony to blockchain applications processing at a much […]

Ukraine Launched State Digital Currency

The National Bank of Ukraine Launched State Digital Currency based on the blockchain, as reported by local news sources, Vesti Ukraine. NBU announces that the blockchain-based Hryvnia, or e-Hryvnia, has to be centralized and remain under Government‘s purview. The state-backed coin is expected to increase the transaction frequency of non-cash payments, besides reducing their cost. […]

Crypto Startups To Gain Banking Services

Crypto Startups To Gain Banking Services-The Monetary Authority of Singapore (MAS), Singapore’s defacto central bank and regulator, has backed domestic cryptocurrency startups and exchanges to receive banking services as part of the country’s efforts to boost fintech development.  the Managing Director of MAS, Rajiv Menon, said that even though Singapore will not be an extremely […]