The chief executive of market intelligence firm CryptoQuant says that Satoshi’s vision for Bitcoin (BTC) could come to fruition by 2030. In a new post on the social media platform X, Ki Young Ju says that the top crypto asset by market cap could start to be seriously considered as a form of digital cash […]
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The global asset manager may be on its way to the forefront of settlement technology.
According to a report, State Street has taken a serious interest in blockchain settlement technology. The global asset manager has been moving slowly into the crypto space, but it may be making a big leap soon.
An unnamed Bloomberg source said State Street is considering creating its own stablecoin and deposit token. In addition, it may leverage its investment in UK-based payment startup Fnality to create new settlement options and join “digital-cash consortium efforts.”
State Street is not blazing new trails in blockchain settlement. JPMorgan launched its Onyx blockchain and stablecoin and the JPM Coin in 2020. Goldman Sachs began trading digitized bonds on the chain the following year. JPMorgan introduced a tokenization platform called the Tokenized Collateral Network in 2023 and added a programmable payments feature months later.
The Reserve Bank of Zealand has said the proposed digital version of the country’s physical cash would provide universal access to central bank money, either in physical cash or digital form. According to the central bank, the digital version will not only be government-backed but will also be denominated in the local currency. Universal Access […]
The United Nations High Commissioner for Refugees (UNHCR) recently said it has launched a blockchain payment solution for digital cash distribution to internally displaced persons (IDPs) in Ukraine. According to the agency, the use of the blockchain-based cash distribution system ensures the funds are instantly transferred to the intended recipients. Only ‘Most Impacted and Vulnerable […]
With concerns about financial stability in mind, the European Central Bank (ECB) plans to limit digital euro holdings, according to Board Member Fabio Panetta. The plan is to have a maximum amount of digital cash in circulation similar to that of euro banknotes today, the official unveiled. Eurozone’s Central Bank to Keep Total Digital Euro […]
A paper published by the European Central Bank (ECB) discusses various conditions for successful implementation of central bank digital currencies (CBDCs) such as the eurozone’s own digital euro. The authors also point to different risks that such projects entail, like the danger of crowding out the private sector. ECB: Digital Euro Should Be Widely Used […]