Digital Currency RSS

According to multiple press reports, Japan is planning to launch its own national digital currency, J COIN, in time for the 2020 Tokyo Olympic games. The announcement comes against the backdrop of Alibaba’s Alipay service being launched in the country, which is seen as a threat. Japan is a heavily cash-dependent economy and wants to change [...]

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In competition with R3 and Swifts blockchain initiative, six of the world’s biggest banks have joined a project to create a new form of digital currency that they hope to launch next year for clearing and settling financial transactions over blockchain. Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG and State Street have [...]

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Hong Kong’s  central bank, the Hong Kong Monetary Authority is reported to be developing a prototype digital currency. The disclosure came in a Hong Kong legislative document published by the Legislative Council Panel on Financial Affair this week and dated 18th April. According to the note, the Hong Kong Monetary Authority (HKMA), which acts as the region’s central [...]

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Federal Reserve board governor Jerome Powell took critical aim at the concept of a central bank-issued digital currency during a roundtable event focused on blockchain and the future of financial markets. Central bank-issued digital currencies could stifle private-sector payments innovation, he said – according to Coin Desk. After discussing blockchain technology more broadly – echoing past [...]

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The Bitcoin price crashed yesterday after one of the digital currency’s biggest exchanges revealed it had been hacked and bitcoins stolen. Hong Kong-based Bitfinex announced the security breach and froze all customer accounts late on Tuesday. Bitfinex is the largest dollar-based exchange and third-largest globally behind OKCoin and BTC China, both of which are based in renminbi – according to [...]

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