J.P. Morgan Handles $1B in Daily JPM Coin Transactions
- Launched in 2020, the bank’s permissioned blockchain-based value transfer system, called JPM Coin, now handles around $1 billion in daily transactions.
- The bank’s global head of payments said they now plan to widen the usage of the coin, and possibly create a “more retail version” of the token.
October 26, 2023, 1:42 PM
The corporate sign in front of the JP Morgan Chase & Co office building on Park Avenue, New York City, October 29, 2016. Felix Lipov/Shutterstock
Deutsche Bank Partners With Taurus on Crypto Custody Service
- Germany’s largest bank will use Taurus’ custody and tokenization technology to manage the cryptocurrencies, tokenized assets, and digital assets of its clients.
- Deutsche Bank was one of a few companies to participate in Taurus’ $65 million Series B fundraising round back in February, which was led by Credit Suisse.
September 14, 2023, 2:20 PM
Deutsche Bank headquarters in Beijing, China on April 3, 2019. Shutterstock
BitGo Partners With Hana Bank on South Korean Crypto Custody Business
- One of the largest South Korean commercial banks, KEB Hana Bank, partnered with crypto custodian BitGo in order to set up a new crypto custody venture in the country.
- The new venture, which will use BitGo’s crypto security expertise and Hana’s experience in financial services and compliance, is expected to launch in the second half of 2024.
September 5, 2023, 11:29 AM
Shutterstock
PBOC Official Says CBDC Must be Available in All Retail Scenarios
- The head of China’s central bank digital currency institute said the e-CNY has undergone a major upgrade, and should be made available as an option in all retail scenarios.
- The PBOC official noted that platforms can integrate the CBDC in the short term using QR codes, and focus on upgrading their payment tools in the long run.
September 4, 2023, 11:31 AM
Office building of the People’s Bank of China. Flickr
Aug 21, 2023
Social App Friend.tech Generates Over $1.4M in Fees in 24h
- Although it was launched in beta on 10 August, the platform has already entered the list of top three fee generating crypto projects by earning $1.42 million in 24 hours.
- Friend.tech is a social app integrated with X (formerly Twitter) that allows users to sell and buy tokenized shares of their social network, gaining access to exclusive content and private chat rooms.
Aug 7, 2023
PayPal Launches New Ethereum-Based Stablecoin
- PayPal USD (PYUSD) will be issued by Paxos and the Ethereum blockchain, and is backed by U.S. dollar deposits, short-term Treasuries, and similar cash equivalents.
- The company said the stablecoin can be redeemed for U.S. dollars at all times, and exchanged for any other crypto supported by the platform, including BTC, ETH, BCH, and LTC.
Jul 19, 2023
RFK Jr. Promises to Exempt BTC from Capital Gains Tax if Elected President
- Presidential candidate Robert F. Kennedy Jr. argued that exempting BTC to USD conversion from capital gains tax will facilitate innovation and spur investments into the country.
- RFK Jr. also said that if elected, his administration will try to stabilize the U.S. economy by backing the dollar with “hard currency”, including gold, silver, platinum, and Bitcoin.
Jul 13, 2023
Google Play Store to Allow NFTs in Apps and Games
- The Google Play store has changed its policy on digital assets, and will now allow developers to incorporate NFTs into their apps and games on the platform.
- Publishers will have to follow certain rules, however, such as maintaining transparency regarding the use of NFTs and not allowing gambling in their apps and games.
Jun 30, 2023
Coinbase’s Layer-2 Network Base Completes Security Audits
- Coinbase’s protocol security team and over 100 external security researchers were involved with testing the upcoming layer 2 Base blockchain over the past six months.
- The project said it has now completed four out of five criteria for Base’s mainnet launch, with the remaining one being to demonstrate “testnet stability”.
Jun 28, 2023
KuCoin to Introduce Mandatory KYC Checks in July
- The updated KYC checks will be introduced on 15 July, after which new users will be required to complete the process in order to gain full access to the exchange’s services.
- Existing users who fail to complete the KYC checks will face limitations on the platform, such as being unable to deposit new funds and only having access to certain services.