When The Block tried to register an account in the app to investigate these features, the system said that an account cannot be created because the personal information provided does not match with the “white list” – likely a list of approved users for the test.
State-owned Chinese banks are conducting internal, hypothetical-use tests of a People’s Bank of China digital currency as if it were being used in Suzhou, Xiong’an, Chengdu and Shenzhen, the people said, asking not to be named as they’re not authorized to speak on the topic.
Led by China’s State Information Center, the Blockchain Service Network (BSN) is poised to launch for domestic commercial use Wednesday and globally on April 25. If it works as envisioned, companies and software developers will be able to plug into the BSN and build blockchain-based applications as easily as assembling Lego sets.
Representatives Ro Khanna and Tim Ryan introduced the Emergency Money for the People Act to provide additional cash payments for hard-working Americans who have been impacted by the COVID-19 pandemic. Among other things, it recognizes that not everyone has a bank or a home address to receive a check – so it allows individuals to get this money through direct deposit, check, pre-paid debit card, or mobile money platforms such as Venmo, Zelle, or PayPal.
Ever since Bitcoin crashed to $3,850 in mid-March, fiat-backed stablecoins have been printing like crazy, with their market cap growing at a fast speed. During this time, the market cap of Paxos has surged 20% and USDT’s 40%. While Circle and Coinbase’s USDC market cap jumped 55%, Binance’s stablecoin BUSD saw the biggest spike of 85%.
According to data shared by Jason Choi — a Wharton School graduate that is the Head of Research at crypto hedge fund The Spartan Group — there is now just shy of $1 billion worth of Tether “sitting on the sidelines on Binance alone.” This doesn’t count the other stablecoins that platform supports, including Binance USD, USD Coin, Paxos Dollar, and more.
San Francisco-based Fold, an app that offers users bitcoin rewards, has joined Visa’s Fintech Fast Track Program and plans to launch a co-branded Visa debit card that gives out as much as 10% of cash purchases with bitcoin instead of traditional reward points like airline miles or cash.
Posted from Diigo
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Published by kiffmeister
The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.
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