Global payment giant SWIFT determined its 2022 hackathon theme as “Digital assets: exploring interoperability and ownership” as it hopes to bring the brightest of the industry together to collaborate and innovate on digital assets. The company acknowledged the significance of digital assets for the future of finance by stating: “Digital assets are a key topic…
A joint report by two leading financial institutions, KPMG and HSBC, revealed that over a quarter of the 6472 startups operating in the Asia Pacific region have their core businesses in crypto-related activities. Among these firms, five appeared on a top 100 startups list with the potential to become unicorns — a private startup company valued…
Bitcoin (BTC) investment firm NYDIG announced a multi-year partnership with the American baseball team, the New York Yankees, on July 14 to become the team’s official Bitcoin Payroll Platform. The deal will allow the Yankees employees to convert a portion of their paycheck to Bitcoin as part of the Bitcoin Savings Plan (BSP), NYDIG’s workplace…
Social media footage shows crowds of angry people in Zhengzhou, the largest city in Henan province, protesting the freezing of accounts by some rural banks. Local media reported that the deposits held by affected banks could be worth up to $1.5 billion. Some observers point out that self-custody of assets takes away control from banks….
Financial infrastructure provider Banking Circle said July 8 that it has started offering payment acceptance, process, and settlement in USDC. Banking Circle’s Head of Virtual Asset Services Mishal Ruparel said it would be critical for banks to have the ability to process certain crypto assets as casually as they do fiat currencies. That’s why Banking…
Meta has disclosed plans to discontinue its Novi pilot crypto program by September 1, according to Bloomberg. Per the project’s website, Novi services will no longer be available on its application and WhatsApp. The firm revealed that users will not be able to make deposits into their accounts from July 21 while advising those with…
The E.U. Parliament, Council, and Commission tripartite reached a provisional agreement in June 29 on the Transfer of Funds Regulation (TOFR). The TOFR constitutes a part of the regulatory frameworks the E.U. is setting up for cryptocurrency regulation. Upon implementation, crypto-assets service providers (CASPs) in the E.U. will be obliged to comply with the rules…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Electricity consumption on some of the biggest crypto networks dropped by as much as 50%, as depressed token prices forced miners to shut shop, according to the Guardian. Crypto miners are feeling the pinch The recent sell-off was a brutal reminder…
Europe is increasing its regulatory pace. The Markets in Crypto Assets Regulation (MiCA) proposed in 2020 is the EU’s response to the need for an encompassing regulation for digital assets. The increased market volatility has heightened calls for a regulatory framework for digital assets. The tripartite of the European Commission, the European Parliament, and the…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Crypto lending platform BlockFi has signed a term sheet with leading crypto exchange FTX to secure a $250 million revolving credit facility, BlockFi CEO Zac Prince announced June 21. Today @BlockFi signed a term sheet with @FTX_Official to secure a $250M…