Amazon to collaborate with ECB to develop a digital euro prototype

    Amazon is among five companies to develop a digital euro prototype, as the European Central Bank (ECB) revealed its selected partners to collaborate. Amazon will be responsible for designing e-commerce payments during the prototyping exercise from September to December 2022. Meanwhile, Binance CEO praised the EU regulatory framework as a global standard for crypto regulations….

    Saudi Central Bank signals its digital ambitions with a new crypto pro hire

    Saudi Arabia’s banking regulator appointed Mohsen Al Zahrani to lead its virtual assets and central bank digital currency (CBDC) program, reflecting the Gulf state’s potential crypto ambitions. So far, Saudi Arabia has taken a more cautious approach to virtual assets, with officials raising concerns about their speculative nature. Yet the emergence of the neighboring UAE…

    Crypto up as Federal Reserve announces 0.75% rate hike

    The Federal Reserve has hiked interest rates by another 75 basis points. This comes after inflation in the US had hit a 40-year high of 9.1% in June. The crypto market has rallied in response, despite the Fed’s repeated rate hikes are promoting concerns of a recession. Since Wednesday, US interest rates have returned to…

    Iran plans to launch a ‘crypto rial’ pilot by the end of August

    Iran’s government is taking steps in preparation for the launch of a new digital currency, referred to as the crypto rial. The monetary authority in Tehran hopes to initiate the project’s pilot phase within the next two months. The authorities of the Islamic Republic are taking the necessary measures to launch a pilot of the…

    Qatar doubles down to develop its CBDC

    Qatar is actively exploring the possibilities of launching its first central bank digital currency (CBDC). If this happens, the country will become the first Arab nation to launch a CBDC. Meanwhile, the central banks in Saudi Arabia and UAE are collaborating on blockchain projects in the financial sector. Speaking at the recently concluded Bloomberg-powered Qatar…

    Bitcoin surges following the US Fed raise rates at the highest level since 1994

    Bitcoin’s price fluctuated after the Federal Reserve announced further monetary tightening on June 15, falling to as low as $20,270 after the Fed’s statement. But an hour after the announcement, the cryptocurrency was traded at $21,444. As a long-awaited step, the Fed announced that it will raise the fed-funds rate, the interest rate at which…