Backed Financial News

01.06 / 18:13

business Stablecoin Dollar Backed Hong Kong-based First Digital Group launches redeemable USD-backed stablecoin

First Digital Group, a Hong Kong-based qualified custodian and trust company, announced the launch of its First Digital USD (FDUSD) United States dollar-pegged stablecoin on June 1. The new stablecoin is programmable and described as being capable of executing contracts, escrow services and insurance without intermediaries. It will operate on the BNB Smart Chain.

25.05 / 09:45

UPS IPO Digital CEO Backed Boss of Goldman-backed digital bank Starling to step down next month

The co-founder of Starling, one of the U.K.'s largest digital banks, is set to step down as CEO next month, the company said Thursday.

24.05 / 08:23

business Technology Adoption Web3 Metaverse Backed Chinese city launches govt-backed metaverse platform

Nanjing City, the capital of Jiangsu Province in China, on May 22, inaugurated the China Blockchain Technology and Application Innovation Platform. This government-supported platform aims to foster and advance metaverse research and development across the country.

15.05 / 05:37

Adoption Gold Dollar Reserve Bank of Zimbabwe Backed Warning Zimbabwe sells millions of gold-backed crypto tokens despite IMF warning

The Reserve Bank of Zimbabwe has sold 14 billion Zimbabwe Dollars’ worth of gold-backed digital tokens worth around $39 million despite a warning from the International Monetary Fund.

11.05 / 06:49

Stablecoin Adoption regulation Tether Usd Coin Backed bail Fiat-backed stablecoins could be used to post bail in New York under proposed bill

A New York lawmaker has introduced a new bill that would see dollar-pegged stablecoins accepted as a legal form of payment for bail bonds.

10.05 / 14:53

Blockchain Ethereum Provident Digital CEO BlackRock Southern Backed RWAs Meet The USP Real Estate Token: Better, Bolder, And Backed By RWAs

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

08.05 / 12:51

business Government Blockchain Tencent Backed collapses Tencent-backed Everledger collapses amid lack of funding: Report

The Australian blockchain company Everledger has reportedly entered insolvency proceedings after failing to raise new funding from an undisclosed investor.

05.05 / 10:37

Government Adoption Digital Currency regulation Reserve Bank of Zimbabwe Backed Zimbabwe sets price to sell gold-backed digital tokens

Zimbabwe’s central bank has set a price for its gold-backed digital tokens. The country is planning to sell its gold-backed digital currency to investors starting May 8. The tokens will be sold at a minimum price of $10 for individuals and $5,000 for corporations and other entities.

04.05 / 04:49

business coinbase exchanges Financial Services Loans Backed Coinbase to cease issuing new Bitcoin-backed loans via Borrow service

Crypto exchange Coinbase is stopping the issuance of new loans through its Borrow service — a product that allows certain United States customers to post crypto as collateral to receive a cash loan.

02.05 / 14:19

UPS Digital SEC JPMorgan Platform Paxful Backed Nigeria's SEC May Permit Asset-Backed Tokens, Crypto Trading Remains Off-Limits

Despite banning crypto transactions in February 2021, Nigeria is now considering a new approach to digital asset trading by allowing asset-backed tokens.

24.04 / 10:11

Adoption economics Gold inflation Volatility Backed Zimbabwe's Central Bank Plans Gold-Backed Digital Currency to Stabilize Local Economy

The central Reserve Bank of Zimbabwe (RBZ) plans to introduce a gold-back digital currency, meant to be used as legal ledger within the country.

23.04 / 18:05

business Digital Currency Africa Backed Zimbabwe's central bank to issue gold-backed digital currency: Report

The Reserve Bank of Zimbabwe is set to introduce a gold-backed digital currency to serve as a legal tender in the country. The move is a government initiative to stabilize the local currency from its depreciation against the United States dollar.

20.04 / 04:51

UPS Platform Pool Backed Sequoia and Dragonfly-backed superapp Finblox to launch Finblox Token ($FBX), offering a $100K reward pool through the promotion period

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

10.04 / 19:07

Digital Platform coinbase Bitcoin Backed Texas’ gold-backed digital currency project: Law Decoded, April 3–10

The topic of central bank digital currencies is in the crossfire of United States politicians, with figures like Ron DeSantis and Ted Cruz trying to prevent them from existing. But what about a statewide digital currency? The first of its kind, a gold-backed state-based digital currency project has appeared in Texas.

10.04 / 17:33

COST Citi Waters Software Tesla shock Premium Backed Warren Buffett-backed BYD announces new shock absorption tech for premium EVs

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09.04 / 06:47

Law regulation Gold Senate bills lawmakers Backed Texas lawmakers propose a gold-backed state digital currency

Two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold, a move that comes despite objections from several United States lawmakers against introducing a central bank digital currency (CBDC).

06.04 / 14:01

Ethereum Twitter Action Fighting coinbase Software Backed end Coinbase backed plaintiffs renew legal fight to end ban on Tornado Cash

Six plaintiffs backed by America’s largest crypto exchange Coinbase are pursuing a renewed legal action against the United States Department of Treasury. The plaintiffs, who sued the Treasury Department back in September 2022 over the sanctions placed onTornado Cash, are requesting the court to deliver a partial summary judgment in the case.

05.04 / 08:43

Provident Digital Platform Backed BTG Pactual mints dollar-backed stablecoin

André Portilho, head of digital assets at BTG Pactual, says: "When buying BTG Dol, investors have access to an easier, safer and smarter way to invest in dollars."BTG Dol is custodied by BTG Pactual, who guarantees and manages its backing, providing the entire security framework for the asset, such as due diligence, money laundering prevention, and compliance processes.The stablecoin is now available for purchase on the BTG Pactual investment platform and on the Mynt app with a minimum investment price of R$100.

04.04 / 15:41

business hedge fund Backed Crypto exchange backed by 3AC founders launches with claims trading plans

Su Zhu and Kyle Davies, founders of the collapsed hedge fund Three Arrows Capital (3AC), have announced the launch of the crypto project Open Exchange, or OPNX.

23.03 / 15:33

Provident CEO Backed FTX to claw back $460 million from SBF-backed hedge fund

On 22 March, the FTX estate filed a motion to enter into a settlement to recover $460 million in assets for stakeholders.

23.03 / 05:33

business regulation Venture Capital FTX Court Bankruptcy Fried Backed FTX seeks to claw back $460M from Bankman-Fried-backed VC firm

Bankrupt crypto exchange FTX is seeking to recover $460 million of allegedly misappropriated customer funds from venture capital (VC) firm Modulo Capital, which received a sizeable investment from Alameda Research last year.

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