# Hong Kong unveils completed retail CBDC project that has a CBDC-backed stablecoin

# Hong Kong unveils completed retail CBDC project that has a CBDC-backed stablecoin

” Hong Kong unveils completed retail CBDC project that has a CBDC-backed stablecoin “ The Hong Kong Monetary Authority presented its completed Aurum retail central bank digital currency (CBDC) prototype on Oct. 21. The system, developed in conjunction with the Bank for International Settlements (BIS) Innovation Hub, has a unique structure that reflects the intricacies…

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# BIS marks CBDC pilot as ‘successful’ with M transacted

# BIS marks CBDC pilot as ‘successful’ with $22M transacted

” BIS marks CBDC pilot as ‘successful’ with $22M transacted “ A multi-jurisdictional Central Bank Digital Currency (CBDC) pilot has been marked “successful” by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of real-value cross-border transactions. The central banks of Hong Kong, Thailand, China and the United…

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# Hong Kong positioned as the most crypto-ready country in 2022

# Hong Kong positioned as the most crypto-ready country in 2022

” Hong Kong positioned as the most crypto-ready country in 2022 “ While public acceptance remains key to crypto’s existence, the road to mainstream crypto adoption requires governments to set up a supporting infrastructure that complements the requirements of the technology and the people.  Factors such as crypto ATM installations, pro-crypto regulations, startup culture and…

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# Crypto lending platform Babel Finance reaches counterparty debt agreement

# Crypto lending platform Babel Finance reaches counterparty debt agreement

” Crypto lending platform Babel Finance reaches counterparty debt agreement “ Hong Kong-based crypto lending firm, Babel Finance, has eased some of its immediate liquidity troubles by reaching debt repayments agreements with some of its counterparties. As previously reported, the firm issued a temporary suspension of redemptions and withdrawals from its products on June 17…

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# Crypto lender Babel Finance halts withdrawals due to liquidity pressures

# Crypto lender Babel Finance halts withdrawals due to liquidity pressures

” Crypto lender Babel Finance halts withdrawals due to liquidity pressures “ Hong Kong-based asset manager Babel Finance is the latest cryptocurrency lending firm experiencing some serious issues amid the ongoing market downturn. Babel Finance officially announced June 17 a temporary suspension of redemptions and withdrawals from its products, citing “unusual liquidity pressures.” “Recently, the…

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