Anatoly Aksakov, Chairman of the State Duma Financial Market Committee, announced that the Central Bank and the Ministry of Finance of the Russian Federation are working on bylaws to establish rules for cross-border payments in cryptocurrency. The government aims to finalize these regulations by the end of November. Russia Recognizes…
Top crypto exchange Kraken has removed the Lightning Network feature for customers in Germany, citing “technical changes.” Earlier on Friday, crypto news publication Protos reported that a support agent at Kraken had attributed the removal to “regulatory issues.” But a spokesperson for the San Francisco-based company told Decrypt that Kraken Support…
Ripio announced a DeFi credit card in partnership with Visa, with which it introduced a prepaid debit card in 2022. Users will be allowed to use up to 30% of the amount locked in a Compound-based liquidity pool with several cryptocurrencies, including bitcoin and ether. Is DeFi Summer Making a…
Coinbase launched the cbBTC in response to issues surrounding BitGo’s Wrapped Bitcoin (WBTC). It is available on Ethereum and Coinbase’s Base network and can be used in various decentralized finance (DeFi) platforms. According to Justin Sun, cbBTC marks “a dark day for Bitcoin,” fronting risks to DeFi because of centralized…
Stablecoins have transformed financial access in emerging markets, becoming essential tools for millions seeking stability in volatile economies, according to a recent research report. The report, Stablecoins: The Emerging Market Story, was sponsored by Visa and developed in collaboration with Allium Labs and Castle Island Ventures. It revealed that stablecoins…
Stablecoins are increasingly used for everyday finances such as savings, currency conversion and cross-border payments in emerging markets, according to a Thursday report by digital asset investment firm Castle Island Ventures and hedge fund group Brevan Howard. Based on a survey of more than 2,500 cryptocurrency users in Brazil, Nigeria,…
Digital asset manager Grayscale today launched a new trust giving investors exposure to XRP, the seventh biggest cryptocurrency by market cap and the coin created by the founders of payments platform Ripple. In a Thursday announcement, Grayscale said that it believed the asset had the “potential to transform the legacy…
The Bitcoin ETF approval set the stage for other similar financial instruments like Ethereum. While Solana’s ETF prospects diminish, XRP is presenting as a possible next in line. Fox Business reported a so-called “closed-end” fund expected to offer direct exposure to XRP. Grayscale released the four-stage product life cycle plan…
A new Bernstein report highlights how U.S. brokerage Robinhood will benefit from a growing generational shift in financial preferences, with younger investors increasingly turning to crypto and blockchain-based solutions while older generations remain skeptical. Younger investors preferring new tech isn’t exactly shocking. But it has impacted how Bernstein rates some…
The Central and Southern Asia and Oceania (CSAO) region accounted for $750 billion in crypto inflows between July 2023 and June 2024, making it one of the largest crypto markets globally. According to Chainalysis’ 2024 Geography of Cryptocurrency report, the region represents 16.6% of global crypto value received, ranking behind…