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Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say

Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the…

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Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil

Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to…

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Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023

The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize…

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Ukraine’s Tascombank Pilots Stellar-based E-hryvnia

Tascombank, one of the oldest banking institutions in Ukraine, has completed the pilot testing of a digital currency based on the Stellar network. The bank believes that its electronic money…

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Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs

The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business…

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Report: Confirmation of Silvergate’s $8 Billion Deposit Plunge Sees Stock Price Drop by More Than 40%

The price of the crypto-focused bank Silvergate Capital’s shares fell by over 40% after it reported a more than $8 billion drop in customer deposits. The share price plunge came…

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Nigerian Crypto Exchange Roqqu Gets European Union Virtual Currency License

The Nigerian crypto exchange Roqqu recently announced that it obtained a virtual currency license that allows it to offer its services in 28 European countries. According to Israel Ololade, the…

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Ancient Bitcoin Block Rewards See Decrease in Spending After Record Activity in 2020 and 2021

In 2021, a number of 2010 block rewards were spent after the bitcoins sat idle for more than a decade. Furthermore, in 2020 and 2021, an early miner from 2010…

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