India, UAE sign bilateral CBDC, Fintech innovation agreement
In a significant move towards fostering innovation in the financial sector, CBUAE and RBI have signed a CBDC and Fintech innovation agreement. The agreement aims to improve coordination between the two central banks, with a particular emphasis on new fintech applications like central bank digital currencies (CBDCs). According to the terms of the Agreement, the […]
Federal Reserve Announces July Launch For FedNow Service
The Federal Reserve Board announced that its real-time payments system, FedNow Service, is expected to launch in mid-2023. A new quick payment service named FedNow will soon be introduced, according to the Federal Reserve’s financial services section. If all goes according to plan, the system will formally launch in July. According to Ken Montgomery, a […]
SVB Parent Firm Reportedly Contemplating Bankruptcy
Silicon Valley Bank’s parent company, SVB Financial Group, is exploring for methods to liquidate its assets and is considering filing for bankruptcy as one of its options. SVB Financial is reportedly looking for purchasers for its remaining assets and considering bankruptcy, according to a Reuters article that quoted unnamed sources; however, sources stated that the […]
Coinbase launches zero-fee local bank transfers in Singapore
Coinbase now offers free cash deposits and withdrawals using regional bank transfers for its Singaporean customers. Customers can now transfer money for free via Standard Chartered bank to and from their Coinbase accounts. As part of its worldwide development strategy, the cryptocurrency exchange Coinbase has made free fiat deposits and withdrawals available to its Singaporean […]
Alameda-linked wallet transferring stablecoins amid USDC’s depeg
A wallet linked to the liquidators of the Alameda Research estate sent $100 million in stablecoins to crypto trading firms Cumberland and GSR Markets. After that initial transfer, stablecoins worth $188.5 million were once more transferred on March 14 from three other accounts connected to FTX and Alameda to other major exchanges. On March 13, […]