Digital Financial News

Payment giant Mastercard, recently announced its partnership with The Sandbox and other non-fungible token (NFT) marketplaces. The partnership was entered into “bring its payments network to Web3”.

The cryptocurrency market as a whole has been on a severe downturn of late. Considering the first half of 2022, this isn’t something new either. The market capitalization of the larger crypto-market has fallen by over 14% in the past week alone. And, recent CPI numbers from the U.S have been nothing short of a kick in the gut.

Accenture recently carried out a survey studying digital asset portfolios of Asian investors. Accenture research suggests that cryptocurrencies will see a huge growth in the future among elite Asian investors. More than 50% of wealthy investors already hold cryptocurrencies and another 21% are likely to add them by year end.

CFTC eyes potential oversight of cryptocurrencies, carbon trading

The global adoption of Bitcoin is set to further increase tremendously by 2030 as per Blockware, an infrastructure provider for blockchain technologies. The prediction does not come off as surprising after the recent growth of cryptocurrencies. Meanwhile, experts believe businesses are gearing up for the influx of cryptocurrencies with the proposal of the Lummis- Gillibrand bill.

It is no secret that NFTs have taken the crypto world by storm. From fads to outright scams, NFTs have been pretty much-called everything. However, the NFT craze has given the world works of digital art that have been sold for million with pieces featuring the famous “Bored Ape Yacht Club”, a collection of cat images called CryptoKitties.

Decentralized Autonomous Organizations (DAOs) are becoming the ‘companies’ of the metaverse. These digital companies are operated by blockchain smart contracts and governed by ‘shareholder’ votes via Discord.

Proponents of the cryptocurrency industry have been requesting a comprehensive crypto bill for some time. Thanks to the bipartisan efforts of Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), there are proposals on the ground for lawmakers to ponder.

Commodity Futures Trading Commission is likely to be given charge of regulating digital currencies

Mastercard has announced that the payment company is working to enable non-fungible token (NFT) commerce with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Web3 infrastructure provider MoonPay.

Crypto adoption across the world is growing at a much faster pace. New data suggested four in five American retail organizations are expecting digital currency payments in the next five years.

On 2 May, ApeCoin DAO, a governance system that protects ApeCoin holders’ democratic rights — a digital asset linked to the Bored Ape Yacht Club ecosystem — published an official proposal. It discussed whether the asset should stay on Ethereum, migrate to a layer-2 alternative, or consider chain migration.

A bipartisan duo of US senators introduced a bill that would aim to protect investors in the event that a cryptocurrency exchange files for bankruptcy by ensuring that their digital assets would be held separate.

AMSTERDAM — Financial technology companies are putting IPO plans on hold and cutting expenses as fears of an impending recession cause a shift in how investors view the market.

Senators Cynthia Lummis and Kirsten Gillibrand proposed the Responsible Financial Innovation Act on 7 June. This is the first attempt to build a comprehensive regulatory framework regarding digital assets in the United States.

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Income tax department clarified that TDS on virtual digital assets remains at 1 per cent

Solana is in the news today after it unveiled a new $100 million fund for South Korean web3 entrepreneurs. The funds were raised equally by Solana Ventures and the Solana Foundation, a Swiss organization that promotes the network’s growth. 

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In his new role, Paul will be tasked with leading the Fireblocks' engagement with central banks and market infrastructures as they begin adopting digital asset and tokenization technologies.According to the Bank for International Settlements, fully 90% of central banks are actively exploring CBDCs and more than half are now developing them or running concrete experiments.Says Paul: "Financial innovation in CBDC, DeFi and tokenization is rapidly accelerating, and my new role at Fireblocks allows me the privilege and opportunity to work alongside some of the most forward-thinking organizations in the world as they prepare for one of the sector's greatest transformations."Since launching in 2019, Fireblocks has onboarded more than 1,300 institutional customers, providing digital asset and crypto products for custodians, fintech, crypto exchanges, lending desks, super apps and asset management firms.

Fintech giant Paypal Holdings has upgraded its crypto wallet capabilities. Users of the app can now send supported digital assets to other wallets.