Dollar

Is China’s New Fascination With Blockchain Really Good for Bitcoin?

</header> <strong>Blockchain development has kind of become an element of the party line in the world’s largest officially communist state. The General Secretary of the Communist Party of China, Xi Jinping, recently told a Politburo meeting that the People’s Republic has to gain an edge in the emerging field. Some say Xi’s statement brought back …

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Minister Says India, Like Other Nations, Extremely Cautious on Libra

Finance Minister Nirmala Sitharaman has said that India — like many others, in his view — is showing a high degree of caution in regard to Facebook’s Libra. During last week’s 2019 Annual Meetings of the International Monetary Fund and the World Bank in Washington, D.C. — which included a discussion of the Libra project …

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Turkey Throws Another Wrench Into the USD’s Works and Joins Russian Swift

</header> <strong>The dominance of the U.S. dollar as the global reserve currency is being robustly challenged on all fronts. Other geopolitical powers and smaller but important players are unwilling to accept the political influence Washington exerts through its fiat money. And in times of trade wars, sanctions, and even tensions between allies, the push to …

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Marshall Islands Launches National Crypto With ‘Fixed Supply’

The Marshall Islands has issued a national blockchain-based currency in a bid to “finally acquire monetary independence in a way that reflects Marshallese values.” The issuance of the Marshallese sovereign (SOV) was announced in an essay by The Honorable David Paul — Minister In-Assistance to the President and Environment of the Marshall Islands — published …

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UK Central Bank Chief Sees Digital Currency Displacing US Dollar as Global Reserve

A central bank-supported digital currency could replace the dollar as the global hedge currency, said Bank of England governor Mark Carney. Speaking at the Economic Policy Symposium in Jackson Hole, Wyoming, on Friday Carney discussed the need for a new international monetary and financial system (IMFS), noting that while the U.S. dollar has played a dominant role …

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Xendpay Joins RippleNet to Expand Global Money Transfer Services

Money transfer service Xendpay has joined Ripple’s global transaction network RippleNet to support international transactions. Going beyond the U.S. dollar Ripple announced the news on Aug. 20. Per the announcement, RippleNet will allow Xendpay to provide money transfer services beyond the United States dollar. Xendpay will use Ripple’s pre-existing network of banks and other financial …

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Bitex Partners With Bantotal For More Cross-Border Payments in Latin America

Bitcoin (BTC) exchange Bitex has partnered with Uruguay-based financial software company Bantotal in order to expand it cross-border payments system on the Bitcoin blockchain to Latin America. CoinDesk announced the companies’ new partnership in a report on Aug. 13. According to the report, the upshot of this partnership is that Bantotal’s clients will have access …

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Crypto Derivatives Exchange Blade Raises $4.3M From Coinbase and Others

A soon-to-launch cryptocurrency derivatives exchange has raised $4.3 million from major investors such as the cryptocurrency platform Coinbase and the investment firm SV Angel. The exchange Blade is scheduled to launch in three weeks’ time. Blade’s funding and plans come by way of a Tech Crunch report on Aug. 12. The report notes that in …

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TZERO Officially Launches Public Security Token Trading оn Schedule

Retail giant Overstock’s blockchain subsidiary company, tZERO, has opened up its preferred equity security tokens — dubbed TZROP — for trading by accredited and non-accredited investors. TZERO announced the news in a press release on Aug. 12, the previously proclaimed day of the launch. According to the announcement, the TZROP token allows investors to directly …

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Arizona to Test Marijuana-Oriented Stablecoin in State Fintech Sandbox

The state of Arizona has accepted a blockchain-based, cannabis industry-oriented payments solution into its fintech sandbox. According to a recent press release from the Office of the Attorney General, the company — called Alta — is a cash management solution for licensed medical marijuana providers and vendors. The Arizona-based financial services startup intends to offer …

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