PayPal takes a step into the crypto world with a new feature, Cryptocurrencies Hub, which could redefine the company’s identity as a crypto-inclusive platform according to a report from Cointelegraph. PayPal broadens its horizons in the crypto space The global payment giant PayPal, known for its recently launched dollar-backed stablecoin PayPal USD (PYUSD), has updated … Continued
XRP, often associated with Ripple, shocked the market when its price on the cryptocurrency exchange Gemini temporarily spiked to around $50. This was particularly remarkable considering its current market value of $0.63, according to market data provider CoinGecko. Reactions and Speculations Many users quickly turned to Twitter on the early hours of August 11th to … Continued
San Francisco-based SoFi Bank has an impressive $170 million in cryptocurrencies on its balance sheet. However, despite the positive growth, there are regulatory challenges that the bank must address. Increasing crypto holdings In the bank’s second-quarter report, it was revealed that it holds nearly $170 million in cryptocurrencies for its customers. This is a significant … Continued
The Federal Reserve is launching a new monitoring program for banks engaging with digital assets, with a particular focus on stablecoins. New monitoring of crypto activities The Federal Reserve recently introduced the ‘New Activities Monitoring Program’ to closely track banks’ involvement in cryptocurrencies. The program allows the central bank’s digital experts and monitoring teams to … Continued
Payment service provider PayPal announced yesterday that it will launch its own cryptocurrency called PayPal USD (PYUSD), which is based on the decentralized blockchain platform Ethereum. The cryptocurrency is a so-called “stablecoin,” meaning that in the case of PYUSD, its value is tied to the U.S. dollar. As a stablecoin, PYUSD’s value is expected to … Continued
The United Nations entity, the International Monetary Fund (IMF), has plans to establish a platform for digital currencies issued by central banks worldwide, known as Central Bank Digital Currencies (CBDCs). Unlike traditional cryptocurrencies, CBDCs are digital currencies developed on behalf of a country’s government and backed by its central bank. Currently, around ten countries have … Continued
Since the beginning of June, Bitcoin has surged more than 12% in value, but there are also talks of a manipulated market, according to CNBC. Investors attribute the current significant price increase of Bitcoin to BlackRock. The American asset management giant filed an application with the U.S. Securities and Exchange Commission (SEC) in mid-June to … Continued
There are divided opinions about introducing a European digital central bank currency. But could a digital euro be the salvation for Europe? This summer, the European Commission will present a legislative proposal outlining guidelines for a digital euro. While China has made the most progress in developing a digital central bank currency among the major … Continued
