Hong Kong’s Central Bank Announces New Wholesale CBDC to Support Tokenization Market

March 7, 2024
The Last Cryptocurency
CoinDesk Feed
CoinDesk Feed

Hong Kong’s central bank announced the start of a wholesale central bank digital currency (wCBDC) project to support the development of the tokenization market.

Project Ensemble will “seek to explore innovative financial market infrastructure (FMI) that will facilitate seamless interbank settlement of tokenised money through wCBDC,” with an initial focus on tokenized deposits, the Hong Kong Monetary Authority (HKMA) said Thursday.

In October 2023, the HKMA said a retail CBDC could add unique value but that further investigation was needed before a decision to introduce an e-HKD could be made.

This is a developing story …

Edited by Sheldon Reback.

Aug 31, 2020 at 13:21 UTCUpdated Aug 31, 2020 at 13:36 UTCBank of Korea (Chintung Lee/Shutterstock)The Bank of Korea is moving to a more technical phase of its accelerated push to develop a central bank digital currency, or CBDC. The Korea Times reported Monday that the Bank of Korea (BoK) is now seeking a consulting…

BitGo Weighs Building a Sidechain for WBTC as Ethereum Fees Climb

Aug 25, 2020 at 19:03 UTCBitGo Weighs Building a Sidechain for WBTC as Ethereum Fees ClimbHistoric fee pressure plaguing the Ethereum blockchain is forcing one of decentralized finance’s (DeFi) hottest projects to consider swapping tires while driving. Digital asset trust company BitGo is in the process of “reaching out” to community partners to build an…

Optimism-Based Velodrome Token Slides Nearly 8% Ahead of Major Upgrade

Velodrome is upgrading to its second version, a complete software overhaul, on June 15.The price of VELO has dropped around 8% in the past 24 hours to $0.088 at press time.Velodrome - the largest decentralized exchange (DEX) on layer 2 network Optimism (OP) - will upgrade June 15 to its second version, an entire redesign…

Israeli Regulator to Fast Track 2,000 Fintech License Applications

news Israel’s Fintech regulator is rearranging its licensing regime to encourage competition in the field. The Israeli Capital Market Authority is looking to change how fintech licenses are distributed in Israel according to a Monday announcement reported by Israeli daily newspaper Calcalist. Some 2,000 fintech and blockchain-businesses are currently seeking licenses from the state regulator.…

The ‘Trump Trade’ Crypto Narrative is Overblown

Bitcoin has been soaring recently, as have Trump’s odds of winning this week’s U.S. presidential election, at least according to prediction markets like PredictIt and Polymarket. Bitcoin recently crossed $73,000 and nearly touched its prior all-time high on the same day that Trump’ odds of winning the election on betting market Polymarket hit 69%, its

Core Scientific Bankruptcy Judge Approves Transfer of Over $20M of Equipment to Its Exclusive Energy Negotiator

However, as of May 2022, after "it became clear that the [two west Texas] facilities would not receive the anticipated power load," Core Scientific stopped making various payments to Priority Power Management, Bros said. Neither firm immediately replied to CoinDesk's request for comment as to why the power was not delivered.

Binance Unit Tokocrypto Is Third Crypto Exchange to Score Full License in Indonesia

Binance's Indonesia subsidiary has won a full license from the nation's Commodity Futures Trading Regulatory Agency. More than 30 crypto exchanges have applied for a full license. Binance subsidiary Tokocrypto, an Indonesian cryptocurrency exchange, has obtained a full license as a Physical Crypto Asset Trader (PFAK) from the country's Commodity Futures Trading Regulatory Agency, known

Roughed-Up Bitcoin Miner Stocks Attempt Rally as BTC Retakes $27K

Bitcoin (BTC) was higher by 3% on Monday, reaching above $27,000 for the first time in over two weeks, giving a minor boost to the mining stocks.Hut 8 Mining (HUT) was one of the largest gainers, advancing 6.5% as it also announced final Canadian regulatory approval for its merger with USBTC.Peers Riot Platforms (RIOT) and

Ethereum Fees Briefly Jumped to $100 After BlackRock’s ETH ETF Filing

Heightened demand for block space on the Ethereum network has made transactional activity significantly more expensive for ether (ETH) users in the past 24 hours, data from Dune Analytics show.Fees, as measured by median gas prices, spiked to as high as 270 gwei late on Thursday, temporarily touching a level last seen in June 2022.

Share this: