Bank of Russia to launch digital ruble pilot in April
Olga Skorobogatova, first deputy chair of the central bank, announced the news.
Blockchain
Bank of Japan to launch CBDC pilot programme in April
The pilot will test the technical feasibility of a CBDC and leverage the “skills and insights” of private industry.
FSB to study DeFi’s potential stability risks and vulnerabilities
The FSB states that “specific features” of DeFi may see some of its vulnerabilities “play out differently”.
Dubai’s VARA outlines new virtual asset framework
VARA says the new framework will offer “regulatory certainty”, giving market participants greater clarity.
Digital asset infrastructure provider Taurus lands $65m Series B
Credit Suisse, Deutsche Bank, Pictet Group and Arab Bank Switzerland all participated in the round.
PayPal reportedly halts work on stablecoin offering
PayPal is hoping to get a clearer understanding of the evolving regulatory landscape, Bloomberg reports.
Swiss digital asset fintech Scrypt names Marc Wäckerlin as CTO
Most recently, Wäckerlin was CTO and executive director at Swiss crypto bank Sygnum.
UAE’s central bank launches financial services digital transformation programme
The UAE is aiming to become a “financial and digital payment hub”.
Digital asset exchange Gate.io taps Coinfirm for AML/CFT platform
Gate.io says the Coinfirm partnership will give the firm “a solid foundation” and shore up its compliance.
The future of financial services depends on global connectivity
To establish interoperability in global payments, a balance must be struck between collaboration and competition.
FinTech Futures: Top five stories of the week – 10 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Digital asset security firm Coincover bags $30m in funding
The funding will be used to boost recruitment, forge new partnerships and develop new products.
Deutsche Börse inks 10-year strategic partnership deal with Google Cloud
Deutsche Börse will leverage Google Cloud’s capabilities to develop its digital securities platform D7.
Bank of England and HM Treasury outline case for digital pound
The Bank and HM Treasury plan to “accelerate” work on the technology and policy architecture for a digital pound.
Crypto exchange Binance snaps up majority stake in South Korea’s Gopax
The investment is part of Binance’s ‘Industry Recovery Initiative’ (IRI), launched in 2022.
Zodia partners SBI DAH for Japan-based crypto custodian venture
The joint venture, SBI Zodia Custody, is owned 51% by SBI DAH and 49% by Zodia Custody.
Cartoon: Tarred with the same brush
This cartoon illustrates how the collapse of the speculative crypto market has impacted the blockchain sector.
UK government to strengthen rules around crypto
The government will strengthen rules for crypto trading platforms and crypto lending in line with traditional finance.
Will regulated cryptocurrency become the new fiat currency?
The last year has demonstrated that the crypto market is in immediate need of significant regulatory oversight.
UK-based digital asset wallet Mode to shut down
Mode says it is winding down its services “due to unsuccessful funding and difficult market conditions”.
DekaBank taps Metaco for digital asset custody platform Harmonize
The platform will enable DekaBank to offer custody services for cryptocurrencies and digital securities.
Departing Coinbase CPO Surojit Chatterjee reportedly made $115m at firm
Chatterjee joined Coinbase in 2020 on a five-year contract but is leaving due to family illness and bereavement.
Cartoon: Rebrand
A new cartoon illustrating how NFTs are quickly evolving to new use cases.
Malaysian fintech HelloGold winds down core business
CEO and co-founder Robin Lee tells Fintech News Malaysia the firm is “pivoting to a B2B model”.
ICYMI fintech funding round-up: Twinco Capital, Architect and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures Jobs: If you want to become a leader, become a feedback magnet first
Explore thousands of open roles on the Fintech Futures Job Board today.
Copper.co names former UK chancellor Lord Hammond as chair
Lord Hammond has provided “strategic advice” to the firm as a senior advisor since October 2021.
US crypto lender Genesis files for Chapter 11 bankruptcy protection
The firm is restructuring its lending business to reach “the best solution for clients and other stakeholders”.
Why the increased adoption of PvP settlement will enhance cross-border payments
PvP guarantees both parties involved in a transaction get paid at the same time as one another.
Crypto firm Nexo denies allegations made by Bulgarian prosecutors
Nexo intends to file claims “for all financial and non-pecuniary damages suffered as a result of illegal actions”.
Winners and losers for 2023
Let’s kick the year off with a look at where the winners and losers will come from over 2023.
Beyond Bitcoin: why developing nations should look to stablecoins
With stablecoins, emerging economies could potentially build more inclusive and fairer monetary systems.
Zodia Custody names Julian Sawyer as its new CEO
Sawyer has previously served as CEO of cryptocurrency exchange Bitstamp, and was co-founder of Starling Bank.
Crypto API provider Wyre reportedly shuttering
The news comes after Wyre was set to be acquired by e-commerce checkout fintech Bolt in April last year for $1.5bn.
Silvergate reveals depleted deposits, significant layoffs, and impairment charges
Silvergate Capital’s share value dropped by over 40% in response to the financial results.
Coinbase hit with $50m fine for “significant” compliance failures
Coinbase has also been ordered to invest an additional $50m into its compliance programme over the next two years.
Blockchain compliance firm Securrency appoints Nadine Chakar CEO
Nadine Chakar replaces Sucurrency founder and CEO Dan Doney, who moves to the CTO role.
Finnish crypto firm Coinmotion lands Bank of Spain authorisation
The Bank of Spain has initiated registration for crypto providers as it seeks to clamp down on money laundering.
US agencies outline risks of crypto to banking system
In a year marked by “significant volatility”, the agencies highlight a number of risks banks should consider.
GoLogiq and GammaRey merge to focus on millennial wealth management
The combined firm has plans to focus on the burgeoning market of wealth management aimed at Gen Z and millennials.
