In an effort to gain market share in the next five years, Ripple, the issuer of XRP, has revealed intentions to establish a stablecoin backed by the US dollar. The goal is to compete with Tether and Circle. Preceding the release, which details plans for the stablecoin initially issued on
Users may now fund international Xoom transfers using PayPal USD (PYUSD), the company’s dedicated stablecoin linked to the U.S dollar. This is a new feature that Xoom, a PayPal cross-border money transfer service, has introduced. Xoom customers in the US will not be charged any transaction fees by PayPal when
io.net, a decentralized computing expert, and KREA, an AI image and video platform, have partnered in a noteworthy partnership for AI-powered multimedia creation. With this collaboration, KREA will be able to provide computational capabilities for its AI projects to a wider range of clients, including industry heavyweights like Nike (NYSE:NKE),
Environmental organizations have long criticized Bitcoin and its proof-of-work system for using too much energy. With the use of an Ethereum Virtual Machine (EVM) and a mobile treasure hunt based on NFT that coincides with the mainnet launch, the new Bitcoin layer-2 staking network Social Network seeks to alter this.
Enforcement Chief of the U.S Securities and Exchange Commission (SEC), Gurbir Grewal, took aim at the cryptocurrency sector, highlighting their reluctance to comply with regulations and their desire to skirt them. Grewal stressed the SEC’s dedication to adapting current securities rules to the evolving digital asset world while speaking at
The announcement of Project Agorá’s commencement was made by the Bank for International Settlements (BIS). The goal of this collaborative effort between private financial companies and seven national banks—the UK, Japan, South Korea, Mexico, Switzerland, and Europe—is to investigate the possibility of combining central bank funds with tokenized deposits from
Practicing Law Institute’s “SEC Speaks” event featured U.S SEC Commissioner Hester Peirce, who criticized the agency’s regulatory stance on the cryptocurrency sector, with an emphasis on Staff Accounting Bulletin 121 (SAB 121). Peirce, who is well-known for her dissenting opinions within the Commission, brought attention to the difficulties caused by
Leading generative digital media developer droppGroup is thrilled to announce an extension of its current partnership with UC Berkeley, which is housed under the latter’s Launchpad organization. Through the collaboration, a benchmarking framework for droppGroup’s cutting-edge generative media intelligence (GMI) system—which creates multimedia content created by artificial intelligence (AI)—including 3D
The first Japanese stablecoin backed by bank deposits was introduced by Hokkoku, a provincial bank in Japan. This move caused quite a stir. Concerned Japanese crypto aficionados are weighing the benefits and drawbacks of the new development. Furthermore, the stablecoin’s functionality is under scrutiny. The success of their Tochituka app,
One of the co-founders of Tornado Cash, a crypto mixing service, Roman Storm, has moved to have the allegations against him dropped. After his arrest and subsequent charges stemming from his role in launching the platform, Storm has offered many legal defenses in an effort to dispel the allegations. Moreover,
