financial inclusion
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Strengthening the Supervision of Digital Finance: A Call to Action from the People’s Bank of China
According to reports, Vice President Xuan Changneng of the People\’s Bank of China called for strengthening the supervision of digital finance at a panel meeting on financial infras
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How CBDCs Can Coexist with Bitcoin and Asset-Backed Stable Currencies
According to reports, when asked how CBDCs issued by potential countries will coexist with Bitcoin or asset backed stable currencies, Katie Fortune, head of CBDC at the Bank of Eng
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The Importance of Central Bank Digital Currency (CBDC) Adoption
According to reports, President Lagarde of the European Central Bank said that if central banks do not adopt Central Bank Digital Currency (CDBC), they may lose relevance. She expl
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Russian CBDC Pilot: Delays and Changes
It is reported that due to the legislative process, the Russian CBDC pilot will not start on April 1, and the legislation may be finally promulgated in early May. The number of pri
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Governor of the Bank of Japan: The future goal is to ensure that CBDC coexists with other forms of currencies
On March 28th, the governor of the Bank of Japan, Yoshihiko Kuroda, stated that ensuring the coexistence of the Central Bank\’s digital currency (CBDC) with other forms of currency
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TruBit and Mercado Pago Partnership: Revolutionizing Cryptocurrency Trading in Latin America
On March 27th, TruBit, a Latin American compliant crypto trading platform, officially announced its strategic partnership with Mercado Pago, an electronic payment giant. In the abs
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Nigerian Banks’ Bond Portfolio Reveals no Direct Contact with Silicon Valley Bank
According to reports, Godwin Emefiele, President of the Central Bank of Nigeria (CBN), a recent review of the bond portfolio of Nigerian banks showed that financial institutions in
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Central Bank of UAE to Launch Digital Currency by 2024: A Comprehensive Analysis
On March 24th, the Central Bank of the United Arab Emirates announced on Thursday that it is expected to complete the first phase of its central bank\’s digital currency strategy ar
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#Outlining the Article
On March 23, it was announced that the Central Bank of the United Arab Emirates (CBUAE) would implement its Central Bank\’s Digital Currency (CBDC) strategy, known as the Digital Di
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Digital Currencies: Do Financial Frictions Limit Their Potential Benefits?
On March 23, the Financial Research Office of the US Treasury Department recently released a research report stating that financial frictions may limit the potential benefits of di
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The White House Report on Digital Assets: A Critique
According to reports, a new report from the White House has criticized digital assets for failing to fulfill their initial commitments and posing risks to consumers and the entire
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Florida Governor Ron DeSantis Proposes Ban on National Central Bank Digital Currency (CBDC)
According to reports, a legislative proposal by Florida Governor Ron DeSantis will prohibit the use of the National Central Bank Digital Currency (CBDC) as currency in his state.
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BlackRock CEO Larry Fink Views Digital Assets and Emerging Markets as Catalysts for Financial Inclusion
According to reports, Larry Fink, CEO of global asset management giant BlackRock, stated in his latest annual investor letter that very interesting developments are taking place in the field of digital assets, and many emerging markets, such as India, Brazil, and parts of Africa, are witnessing significant progress in digital payments, reducing costs, and promoting financial inclusion. In contrast, many developed markets, including the United States, lag behind in innovation, resulting in much higher payment costs. Larry Fink also predicted that the Federal Reserve would continue to focus on fighting inflation and increasing interest rates, and that the current banking crisis will place greater emphasis on the role of capital markets. He explained, “As banks may be subject to more restrictions on lending, or as their customers realize that these assets and liabilities do not match, I expect they may turn to the capital markets for financing.” (Blackrock) BlackRock CEO: Backward digital asset innovation in developed markets such as the…
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BlackRock CEO Larry Fink’s Annual Letter Discusses Trends and Potential of Digital Assets
According to reports, BlackRock CEO Larry Fink pointed out several trends in digital assets in his annual letter to shareholders on Wednesday. Fink said that in addition to the media’s “obsession” with Bitcoin and the collapse of FTX, BlackRock has several areas of interest. In many emerging markets such as India, Brazil, and parts of Africa, we are witnessing significant advances in digital payments, reducing costs, and promoting financial inclusion. As for the asset management industry, the operational potential of digital asset underlying technology may generate exciting applications. BlackRock CEO: Tokenization of asset classes can improve the efficiency of the capital market Analysis based on this information:In his annual letter to shareholders, Larry Fink, the CEO of BlackRock, discussed the current trends and potential of digital assets. While many have been focused on the media’s “obsession” with Bitcoin and the recent collapse of FTX, Fink pointed out that there are other important areas of interest. One trend that Fink highlighted…
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The US Treasury partners with Silicon Valley Bank and Circle to improve Federal Reserve systems.
7:00-12:00 Key words: US Treasury, Silicon Valley Bank, Circle, Federal Reserve Summary of important developments at noon on March 12 Analysis based on this information:The US Treasury recently partnered with Silicon Valley Bank and Circle to enhance the speed and efficiency of financial systems used by the Federal Reserve. The partnership aims to incorporate digital payments into the existing infrastructure, to ensure that more individuals and businesses can access the financial system seamlessly. The Silicon Valley Bank is a financial institution that specializes in offering services to technology startups, venture capitalists, and private equity firms. It is considered one of the largest banks globally, with operations across the United States, the United Kingdom, China, India, and Israel. Circle, on the other hand, is a stablecoin and cryptocurrency firm that offers a range of products aimed at promoting financial inclusion. The partnership between the three entities intends to promote innovation, improve the speed and efficiency of payments processing, and enhance financial…
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Binance extends its support to African currencies
It is reported that Binance has announced that it has increased its support for more African currencies, including the Liberian dollar (LRD), Sierra Leone Leon…
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Circle Collaborates with Citizens Trust Bank to Advance Financial Inclusion
It is reported that Circle, the issuer of the USDC, announced a cooperation with Citizens Trust Bank, which will hold USDC cash reserves of US $65 million. In …