Visa is working on a blockchain interoperability project
Visa, one of the world’s largest payments companies, announced a project that aspires to be a network of blockchains, cryptocurrencies, stablecoins, and central bank digital currencies (CBDC). Visa’s research team is working on a “Universal Payment Channel ” (UPC) initiative, a blockchain interoperability hub connecting numerous blockchain networks and enabling transfers of digital assets from […]
Chinese central bank executive on crypto: Crypto adoption is a ‘huge challenge.’
One of the executives at the Chinese central bank has expressed concern that the growing adoption of cryptocurrencies such as Bitcoin (BTC) will pose a significant challenge to the traditional banking system. In spite of local players’ experiments with digital yuan-pegged stablecoins, the People’s Bank of China (PBoC) maintains its anti-crypto position. In a recent […]
HSBC CEO supports CBDCs as opposed to cryptocurrencies and stablecoins
HSBC Group CEO Noel Quinn, believes CBDCs are a transparent legal tender that avoids the “many risks” associated with cryptocurrencies and stablecoins. HSBC, Europe’s largest bank with $3 trillion in assets, is dubious of bitcoin while pushing the creation of central bank digital currencies (CBDCs). New forms of digital money might promote growth, according to […]
Pundits weigh in on the potential implications of Evergrande ‘s bankruptcy
When it comes to the possibility of Chinese real estate behemoth Evergrande defaulting on its $305 billion in debt, pundits are speculating on how the firm’s insolvency would affect the legacy and cryptocurrency markets, respectively. When it comes to Bitcoin mining, Marty Bent , the co-founder of Bitcoin mining firm Great American Mining, is delighted […]
Bitcoin falls below $40k for the first time in six weeks
While several analysts believe Bitcoin will reach six figures if support at $40,000 can be maintained, some believe a bear cycle is on the horizon. It is the first time in six weeks that the price of Bitcoin has fallen below $40,000 USD. At the time of writing, bitcoin prices had fallen by 16 percent from […]