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“# One currency to rule them all: Facebook’s Diem has global ambitions ” The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance exchanges (CeDeFis), are taking the central stage. Also at the forefront is Facebook’s Libra. Not too long…
“# Facebook ‘definitely looking’ at NFTs, says exec ” As Facebook now finalizes the development of its proprietary cryptocurrency wallet Novi, the social media giant could soon be supporting nonfungible tokens (NFTs). David Marcus, head of Facebook Financial and co-creator of Facebook-initiated cryptocurrency Diem, said Wednesday that the firm is “definitely looking” at possible ways…
“# Facebook’s David Marcus calls for “fair shot” at crypto payments ” In a newly published Medium piece titled “Good stablecoins, a protocol for money, and digital wallets: the formula to fix our broken payment system”, Facebook’s crypto pioneer David Marcus shared his views on topics of economic inequality, regulatory challenges and Novi’s proposed stablecoin…
“# Diem parters with Silvergate bank to launch stablecoin in the US ” Facebook-backed digital currency project, the Diem Association, has partnered with cryptocurrency-friendly bank Silvergate to launch a stablecoin pegged to the United States dollar. Diem announced Wednesday a new model of its upcoming stablecoin, relocating its main operations from Switzerland to the United…
“# Stablecoins present new dilemmas for regulators as mass adoption looms ” Stablecoins present peculiar challenges to regulators. Although there is no single, agreed-upon definition of a stablecoin, the common denominator of the commonly used definitions is that stablecoins are designed to maintain a stable value in relation to a specified currency, asset or pool…
“# Diem co-creator leaving Facebook for Planet Labs ” Kevin Weil, the vice president of product at Facebook’s digital wallet unit and one of the creators of the Libra token, now called Diem, will be leaving the social media giant. In a Twitter thread today, Weil said he would be leaving Facebook after almost three…
“# Diem gets closer to launch as Fireblocks and First introduce new payment infrastructure ” The Diem Association is progressing towards launch with a new technical upgrade that reportedly allows more financial institutions to connect with the payment network. Crypto security specialist Fireblocks and First Digital Asset Group, a Diem payment provider, announced Tuesday that…
“# State-owned Chinese bank rolls out ATMs for digital yuan ” China’s efforts to develop a centrally-issued digital currency took a leap forward on Sunday as the state-owned Agricultural Bank of China launched the first digital yuan ATMs. Customers at select branches within the Shenzen region have reportedly begun spending and converting the digital yuan…
“# With Bill Barr leaving the DoJ, what will the next Attorney General do about crypto? ” In a tweet Monday evening, President Trump announced the departure of William Barr from the office of Attorney General. The announcement comes the same day that the Electoral College convened and confirmed Joe Biden’s victory in the November…
“# China has no plan to replace USD with digital yuan, former PBoC head says ” The Chinese government is not seeking to replace existing fiat currencies with its own digital currency, according to a former governor of the People’s Bank of China, or PBoC. Zhou Xiaochuan, the president of the Chinese Finance Association and…