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Global Finance Faces a Shift as Mbridge Digital Currency Platform Challenges US Dollar

Global Finance Faces a Shift as Mbridge Digital Currency Platform Challenges US DollarThe People’s Bank of China emphasized the Mbridge platform’s role in improving cross-border payments through the use of central bank digital currencies (CBDCs), aiming to reduce inefficiencies and avoid new barriers. The platform, which targets underserved regions like ASEAN, could reshape global finance and challenge the U.S. dollar’s dominance while requiring careful coordination to maintain […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Crypto Fraud Ring Dismantled by Vietnamese Authorities

Crypto Fraud Ring Dismantled by Vietnamese AuthoritiesVietnamese authorities have reportedly dismantled a cross-border fraud ring involved in romance scams and fraudulent cryptocurrency schemes. Led by foreign criminals, the group operated from Laos and defrauded victims of tens of billions of dong. Key Vietnamese suspects, trained in digital deception, have been arrested for their roles in the scheme, which included using fake […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Swift to Pilot Digital Asset and Currency Transactions in 2025

Swift to Pilot Digital Asset and Currency Transactions in 2025Swift will begin live trials for digital asset and currency transactions in 2025, engaging banks across North America, Europe, and Asia in a major step toward real-world applications. By leveraging its existing network, Swift aims to merge digital and traditional assets, addressing the challenges of disconnected platforms. The trials build on successful blockchain experiments, seeking […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Paypal Completes First Corporate Transaction Using PYUSD Stablecoin

Paypal Completes First Corporate Transaction Using PYUSD StablecoinPaypal has made a significant step in corporate payments by completing its first transaction using its stablecoin Paypal USD (PYUSD). This milestone highlights the role digital currencies can play in streamlining cross-border transactions, with Paypal partnering with Ernst & Young LLP. Paypal Completes First PYUSD Stablecoin Business Transaction Paypal Holdings Inc. has completed its first […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Ripple Boosts Cross-Border Transactions in Brazil With New Payment Solution

Ripple Boosts Cross-Border Transactions in Brazil With New Payment SolutionRipple is expanding its digital payments service in Brazil, partnering with Mercado Bitcoin to offer faster, cheaper cross-border transactions. This move positions Ripple Payments as a key player in the region’s crypto landscape, helping businesses move funds 24/7. With plans to streamline treasury operations between Brazil and Portugal, the service also aims to benefit corporate […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Ripple Gets Green Light for Dubai Expansion

Ripple Gets Green Light for Dubai ExpansionRipple, a digital asset infrastructure provider, has received approval to expand its operations in Dubai. The Dubai Financial Services Authority (DFSA) granted Ripple “in-principle approval” to offer its services from the Dubai International Financial Centre. This will allow Ripple to provide seamless cross-border payment services in the United Arab Emirates and align with its goal […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Russia Pushes for Sustainable BRICS Interbank Networks and Payment Systems

Russia Pushes for Sustainable BRICS Interbank Networks and Payment SystemsRussia is pushing to develop independent interbank networks and payment systems within BRICS to boost the bloc’s financial influence. Moscow aims to expand cross-border settlements and the use of national currencies in BRICS trade, as part of a strategy to reduce dependence on Western financial institutions. These efforts have gained attention during Russia’s BRICS presidency, […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper

China’s Digital Yuan Nears $1 Trillion in Transactions, PBOC Official Reveals

China’s Digital Yuan Nears  Trillion in Transactions, PBOC Official RevealsChina’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Bank of Russia Eyes Stablecoins for Cross-Border Transactions

Bank of Russia Eyes Stablecoins for Cross-Border TransactionsThe Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of qualified investors and would require testing for regulatory feasibility. Bank of Russia Explores Stablecoin Use for Cross-Border Transactions […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper

RBI Governor Warns Against Rapid CBDC Launch, Advocates Gradual Approach

RBI Governor Warns Against Rapid CBDC Launch, Advocates Gradual ApproachThe governor of India’s central bank, the Reserve Bank of India (RBI), Shaktikanta Das, has highlighted the challenges of implementing cross-border digital currency interoperability and the necessity for robust governance. He emphasized the importance of gradual central bank digital currency (CBDC) rollout and data-driven insights from pilot programs. RBI Governor Warns of Challenges in Digital […]

Cosmos co-founder proposes peer-to-peer clearing system in white paper