The cryptocurrency market is rapidly emerging in the Gulf region as it is showing a hint that the region is going to lead the digital currency world anytime soon. Hayvn cofounders Christopher Flinos explained, “Middle Eastern high-net-worth individuals generally have a higher risk tolerance… they like equities, they are used to volatility. They’re not afraid of new things, they’re not afraid of chasing yield.”
The financial watchdog of Thailand, Thailand’s SEC is currently seeking for feedback from the investors of cryptocurrencies to gain a better understanding of the emerging industry. In a press release, SEC then explained, “the SEC is seeking public comments on the proposed rules for data submission to the SEC Office by digital asset business operators and initial coin offering portals.”
A London-based fintech start-up has to launch its Aave pay which allows users to pay for the utility bills by using cryptocurrencies. Its CEO, Stani Kulechov explained, “This new application eliminates the obstacles of using crypto in our everyday lives. It addresses crypto’s expendability problem and builds a bridge for crypto to cross over into mainstream use.”
A private bank in Switzerland, Julius Baer has recently shared that they will allow its client with access to digital currencies with the collaboration with SEBA Crypto AG (SEBA). Its Head Marketer, Peter Gerlach explained,” The investment into SEBA as well as our strong partnership are proof of Julius Baer’s engagement in the area of digital assets…”
A campaign named “Crypto and Coffee” has been introduced by Gemini cryptocurrency exchange and vision to develop a global adoption of cryptocurrencies. The campaign has been receiving numerous response from Twitter users where one of them have commented, “don’t find the answers convincing. Saying it’s better in every property than gold ignores the volatility.
A digital currency trading platform based in Netherland, Cryptohopper has shared that they have allowed the traders in their platform to purchase and sell high-performing trading strategies. Its CEO explained, “Cryptohopper fills this gap by allowing inexperienced users to register, buy a trading strategy from a professional trader and have their trading bot execute trades on their behalf, 24/7.”
Japan based Mizuho Financial Group plans to introduce a digital currency to be used for remittances and payments in March. The group claims that the fees required to pay for accepting the currency will be significantly lower than the fees charged for credit card usage and brought about 60 regional banks under their ambient.
Calgary will be the first city in Canada to have its own digital currency. It will be called as Calgary Digital Dollar and will be used exclusively in Calgary located in Alberta Province. The main target of this launch is to boost the local economy. It can be earned the by taking surveys, referring users or by posting ads.
The chief of International Monetary Fund, Christine Lagarde, has expressed that the central banks could release their cryptocurrency. Addressing a conference in Singapore, the chief mentioned, “I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy.”
The Bank of Israel has revealed the results of the investigation analyzing the feasibility of issuing digital currency and blockchain integration to the central payment system. A statement made by the bank quoted, “The team’s work shows that there is currently no uniform specification for central bank digital currencies.” The bank recommended continuous exploring the cryptocurrencies and the blockchain.