Blockchain

BIS, France, Singapore, and Switzerland Report Success in Cross-Border Wholesale CBDCs Test

The Bank for International Settlements (BIS), in collaboration with the central banks of France, Singapore, and Switzerland, have concluded “Project Mariana“. This project examined the cross-border trading and settlement of wholesale central bank digital currencies (wCBDCs) using state-of-the-art decentralized finance (DeFi) concepts on a public blockchain. Jointly developed by the BIS Innovation Hub centres, the Bank of France, the Monetary

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Blockchain

Crypto Seen as Investment Opportunity in the MENA Region Says Iceberg Capital Executive Chairman

While interest in digital assets has waned in some parts of the world, in the Middle East and Northern Africa adoption of crypto has been skyrocketing according to Mustafa Kheriba, the executive chairman of the asset management firm Iceberg Capital Limited. According to Kheriba, factors such as high inflation and residents’ desire for high-return investment opportunities have drawn many to

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Singapore’s FSI Sector Eyes Significant Investments in ESG, Embedded Finance and Defi

In Singapore, c-suite and senior finance executives are planning to invest significantly in embedded finance, environmental, social and governance (ESG) frameworks, and blockchain-related innovations in 2023, confident that these technologies will create new growth opportunities and provide them with an edge over competitors, a new study by Fidelity National Information Services (FIS), an international provider of financial services technology and

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Fintech

2022’s Devastating Crypto Breaches: Multi-Million Dollar Hacks Shake the Industry

Several high-profile cryptocurrency hacks occurred in 2022, causing significant financial losses for businesses and individuals who held digital assets. According to a recent analysis, the estimated loss from these attacks was a staggering US$3.8 billion, making it the biggest year ever for crypto hacking, with significant spikes in March and October.  Source: Chainalysis October was particularly devastating for the industry,

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Fintech

Crypto Lessons From 2022 The Industry Should Avoid in 2023

As any crypto industry observer surely knows, 2022 was one of the most turbulent years since Bitcoin hit mainstream notoriety and digital asset markets became a sphere of interest for fintech companies and private investors alike.  The early part of 2022 saw the cryptocurrency markets turning bearish as the global economy soured. It was not just the crypto industry either,

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DeFi Industry Shows Resilience In Spite of Crypto Market Slump

Despite an ongoing crypto winter, the global decentralized finance (DeFi) market has remained strong and resilient, maintaining its dynamism with sustained venture capital (VC) funding activity, increased user adoption, and encouraging signs of institutional interest, a new report by HashKey Capital says. The 2022 DeFi Ecosystem Landscape Report, released by the crypto fund in December 2022, looks at the current

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Blockchain

Defi More Scalable Than Traditional Finance, New Study Says

Despite the market conditions that prevailed in much of 2022, decentralized finance (defi) still demonstrated its greater scaling potential than that of the traditional financial industry, a new report has said. Even though the total value locked dropped from the peak of $180 billion in Dec. 2021, to just over $50 billion by end of Oct. 2022, certain sectors of

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