digital

Galaxy Digital launches fund of funds backed by Franklin Templeton

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Galaxy Digital’s asset management business seems to be heating up after a recent acquisition. “It’s going to be a diversified asset management platform…the Blackstone of crypto,” Galaxy’s Scott Army said, referring to the $600 billion alternative investment management giant.  On Tuesday, the firm made one of its first steps towards that goal, announcing the launch …

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Fidelity Digital Assets plans big headcount boost in response to institutional interest in crypto

Fidelity Digital Assets plans big headcount boost in response to institutional interest in crypto

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Fidelity Digital Assets, the crypto-focused arm of the asset manager Fidelity, plans on hiring as many as 100 employees to bolster cryptocurrency projects in response to institutional demand in crypto, reports Bloomberg.  Fidelity Digital Assets president Tom Jessop told Bloomberg that the firm intends on hiring employees in its Dublin, Boston and Salt Lake City …

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Beijing, Suzhou enable China's digital yuan payments for subways

Beijing, Suzhou enable China’s digital yuan payments for subways

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The Chinese capital city of Beijing has extended the testing of China’s central bank digital currency, dubbed the e-CNY, to its railway system. The municipal government of Beijing said in an announcement Wednesday that users who have activated the standalone digital yuan mobile app via the Industrial and Commercial Bank of China (ICBC) are now …

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EU data protection body says digital euro designs must prioritize privacy

EU data protection body says digital euro designs must prioritize privacy

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As Europe inches toward the creation of a digitized euro, a data-focused body within the EU is calling for any design proposal to prioritize privacy and protection. The European Data Protection Board, created to implement Europe’s General Data Protection Regulation (GDPR), said that it “stresses that a very high standard of privacy and data protection …

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China expands digital yuan reach with its latest giveaway trial in Shanghai

China expands digital yuan reach with its latest giveaway trial in Shanghai

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China has increased the reach of the digital yuan with its latest giveaway test in Shanghai, the country’s financial hub. Shanghai airdropped 350,000 “red packets” over the weekend, each containing 55 digital yuan (around $9) and adding up to a total of nearly 20 million yuan ($3 million). This was the highest number of red …

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Bank of England, HM Treasury establish new taskforce to explore digital currency

Bank of England, HM Treasury establish new taskforce to explore digital currency

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The Bank of England and HM Treasury have jointly created a taskforce to explore a potential central bank digital currency (CBDC) in the U.K. Announcing the news on Monday, the two government authorities said they have not yet decided whether to introduce a CBDC in the U.K. but will explore its use cases and risks. They will …

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Bank of Japan to begin central bank digital currency experiments later this year

Bank of Japan to begin central bank digital currency experiments later this year

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The Bank of Japan (BOJ) will start experiments on a central bank digital currency (CBDC) this spring, according to central bank governor Haruhiko Kuroda. Reuters reported today that Kuroda said the bank must “prepare thoroughly” to issue a CBDC. That includes experimenting with how it would operate a digital yen during the course of this …

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ECB official floats idea for limits on digital euro holdings to discourage hoarding

ECB official floats idea for limits on digital euro holdings to discourage hoarding

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Officials at the European Central Bank have said in recent weeks that they continue to assess all the factors behind a potential launch of a digitized version of the euro. Among those areas of consideration: the potential effect a digital euro might have on the integrity of the European banking system — and how a …

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PayPal CEO says the payments giant wants to be 'the digital wallet for global CBDCs'

PayPal CEO says the payments giant wants to be ‘the digital wallet for global CBDCs’

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PayPal CEO Dan Schulman said Thursday that he sees PayPal playing a significant role in the utility of central bank digital currencies (CBDCs). On the company’s investor day call, Schulman said PayPal is gearing up to be “the digital wallet for global CBDCs.” PayPal’s newly unveiled product roadmap for crypto includes becoming a CBDC platform. …

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