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Mastercard is looking to support central banks with its central bank digital currency (CBDC) program and believes that the “continued global interest” made this summer the right time to launch its program.
“Our goal is to drive and support interoperability across the different ways of making payments, as it is essential to a flourishing economy,” Raj Dhamodharan, head of digital assets and blockchain at Mastercard, told Blockworks. The program initially launched in August.
Partners include Ripple, Consensys, Fluency and Fireblocks.
Mastercard’s push comes after a Bank of International Settlements (BIS) survey found that roughly 93% of banks were exploring a potential CBDC, with 60% of banks saying that stablecoins have accelerated work on CBDCs.
“We’re committed to exploring how we can make CBDCs as easy to use as other forms of money. We’re doing that today with several solutions to unlock greater potential in this space. We hope this program will help central banks understand even more how to develop a CBDC that adds something new and valuable to the global economy,” Dhamodharan said.
When it comes to open or public permissionless versus closed or permissioned CBDCs, Mastercard isn’t going to push for one or another. Instead, they want to support the needs of the central banks.
Ali, a crypto analyst, spots remarkable accumulation by Chainlink whales in the wake of the network's successful joint blockchain experiment with Swift.
Citing Santiment data, Ali observed that Chainlink whales have purchased over 4 million LINK totaling a staggering $24 million in just the last 10 days.
It should be recalled that 10 days ago, on Aug. 31, news broke that Interbank communications system Swift and Web3 services platform Chainlink had successfully moved tokenized value across numerous private and public blockchains in a blockchain experiment.
According to research conducted by Coalition Greenwich and Amberdata, asset managers and hedge funds are increasingly exuding optimism and fervor when it comes to the burgeoning potential within the cryptocurrency asset class.
They are not only enthusiastic about the prospects of growth but are also actively exploring and capitalizing on the manifold commercial opportunities that this space has to offer.
In this dynamic landscape, these financial professionals see the cryptocurrency asset class as a fertile ground for expanding their portfolios and diversifying their investments. They are not merely spectators; instead, they are actively positioning themselves to leverage the growth trajectory of cryptocurrencies.
Financial technology firm Ripple is expanding its portfolio of regulatory licenses in the United States with the acquisition of Fortress Trust, according to an announcement on Sept. 8.
Fortress Trust provides regulatory and technology infrastructure for blockchain organizations. The company holds a Nevada Trust license that allows it to custody financial assets. The acquisition is in addition to the more than 30 licenses Ripple holds across the country as a money transmitter, along with a BitLicense in New York, required digital currency businesses operating in the state.
Ripple has been accelerating deals amid the bear market. In May, the company announced the acquisition of Metaco, a Swiss digital asset custodian and tokenization provider, for $250 million. A Ripple executive forecast in January that 2023 would see a wave of acquisitions within the crypto space, helping companies fill gaps in capabilities
Ripple plans to invest in Fortress’ parent company, Fortress Blockchain Technologies, and its affiliated firm FortressPay services, the announcement reveals. Ripple claims to be present in over 55 countries, offering payout services through blockchain technology.
Now, as the bitcoin and crypto market braces for a $15 trillion earthquake, U.S. president Joe Biden and leaders of other G20 member nations have endorsed the radical, game-changing crypto regulation recommendations of the global Financial Stability Board (FSB).
We endorse the Financial Stability Board's high-level recommendations for the regulation, supervision and oversight of crypto-assets activities and markets and of global stablecoin arrangements," a declaration signed by Biden and other leaders of the world's 20 biggest economies—collectively known as the G20—said, according to local media reports.
The Reserve Bank of India is working on various design features for the retail central bank digital currency, so that it can gauge public behaviour under the pilot programme.
“As you are aware, our target is to reach 1 million transactions per day by December. With this volume we will be able to understand the behaviour of the public and then we can decide on the design features,” said AK Choudhary, executive director at RBI. Choudhary was speaking on the sidelines of the G20 Summit 2023 in New Delhi.
The central bank is mulling various design features currently, he said. These include offline CBDC, programming it for specific payments and cross-border transactions.
New numbers on the global banking system are shedding light on just how much money depositors have pulled out of their bank accounts in the last year.
According to the latest data from the Federal Reserve of St Louis, US banks have faced $605 billion in deposit flight in a year.
And total deposits at banks in France, Germany, Spain and Italy as well as in the Benelux and Nordic regions dropped by about $950 billion in 12 months, according to data compiled by S&P Global Market Intelligence – bringing the grand total across the aforementioned countries to $1.55 trillion in deposit flight.
Former US Congressman Ron Paul says a new member of the global economic alliance known as BRICS poses a serious threat to the US dollar’s hegemony.
In a new blog post, Paul says BRICS was created to challenge the economic and political dominance of the United States.
The ‘petrodollar’ is the backbone of the dollar’s reserve currency status. Early this year, Saudi Arabia signed a deal with Brazil to accept Brazil’s currency instead of dollars for oil purchases.
If Saudi Arabia signs similar deals with other BRICS nations, it will hasten the end of the dollar’s reign as the reserve currency.”
Indonesia recently ramped up its de-dollarization efforts. In April, Bank Indonesia Governor Perry Warjiyo stated that Indonesia is following the lead of the BRICS economic bloc (Brazil, Russia, India, China, and South Africa) to shift away from using the USD in international trade and financial transactions.
The BRICS nations recently wrapped up their summit in Johannesburg. The economic group invited six countries to join as new members. At the conclusion of the summit, the BRICS leaders agreed to encourage the use of national currencies in international trade and financial transactions.
Indonesia is a member of the Association of Southeast Asian Nations (ASEAN), along with Brunei, Cambodia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. In May, the leaders of the ASEAN nations agreed to push the use of local currencies for economic and financial transactions.
President Joe Biden appeared to be confused during a press conference in Vietnam on Sunday, saying he will "just follow his orders" while looking through papers and speaking to reporters.
"I'll just follow my orders here. Staff, is there anybody that hasn't spoken yet? I ain't calling on you," the president said during the press conference.
This is not the first time Biden has been known to "follow orders" as previous press conferences have allowed the public to witness the president holding a "cheat sheet" during media engagements, suggesting he is given notice of the questions that members of the press will ask him ahead of time. Meanwhile, White House press secretary Karine Jean-Pierre has previously said it is regular protocol and in line with the press office's job to "get a sense" of what the media wants to ask the president.
At the start of Sunday's press conference, the White House announced that Biden planned to take questions from five reporters. Shortly after the president took all five questions, he then joked, "I tell you what, I don't know about you, but I'm going to bed."
Jean-Pierre then abruptly ended the press conference as the president was responding to shouted questions from the press. She took to the microphone to announce, "Thank you everybody—this ends the press conference."
Although Biden remained on stage briefly following her announcement as he was responding to one additional question, his full answer was inaudible, CNN reported.
originally posted by: Mahogany
Necro thread!
Looks like the Q transmissions fizzled out the same way Ron Watkins' candidacy for congress did.
What a fraud!
en.wikipedia.org...
CBKNEWS
@CBKNEWS121
#BREAKING military ACTIVE in DC !!!
Washington, D.C., formally the District of Columbia and commonly called Washington or D.C., is the capital city of the United States.
Klaus Schwab Urges World Leaders To Grant WEF Full Governmental Control Over Nations
Schwab issued the chilling message during an address at this week’s Association of Southeast Asian Nations (ASEAN) Summit.
Combat tactics, Mr. Ryan. By turning into the path of the torpedo, the Captain closed the distance before it could arm itself.
Q