Facebook Launches Novi Wallet Pilot With Ethereum Based USDP Stablecoin

Facebook has unveiled the Novi digital currency wallet pilot in the United States and the Central American nation of Guatemala on Oct 19. While the wallet is free of any charges (at this time), operates with KYC and primarily focused on remittances, the interesting part is that Facebook has retired its Diem cryptocurrency project in favor of the Ethereum based Paxos issued USDP stablecoin – an ERC 20 token with custody services being sourced from Coinbase.

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Arab Bank has chosen Tezos to facilitate institutional custody service

Arab Bank Switzerland announced Tuesday that it will integrate staking, trading and custody services onto the Tezos blockchain’s native token (XTZ) in a bid to provide a digital asset environment for institutions, corporations and high net-worth individuals.

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El Salvador introduces fuel subsidy of $0.20 per gallon to locals who pay in BTC

Salvadoran President Nayib Bukele has announced that local consumers can enjoy a $0.20-per-gallon reduction in petrol prices when paying, using the government-backed Bitcoin wallet, Chivo.

Describing the news as “positive news for the pockets of Salvadorans,” the president announced the subsidy via Twitter on Thursday.

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Europe becomes largest crypto economy with over $1T in transactions

The region of central, northern and western Europe, or CNWE, has emerged as the world’s most active cryptocurrency block, receiving over $1 trillion worth of digital assets over the past year, according to new research from blockchain analytics firm Chainalysis.

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Chinese regulators unite forces to crack down on crypto

The Chinese central bank is setting up a “coordination mechanism” with state agencies to continue battling crypto.

The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country.

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A new poll has found that 27% of United States residents support the government recognizing Bitcoin (BTC) as legal tender.

According to a poll from research and data analytics firm YouGov, 11% of respondents “strongly support” the idea that Bitcoin should be used as legal tender in the United States, and a further 16% of respondents would “somewhat support” it.

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Mastercard acquires blockchain security start-up CipherTrace

Payments giant Mastercard has signed an agreement to acquire blockchain analytics start-up CipherTrace as it looks to accelerate and expand its cryptocurrency strategy.

The company says that CipherTrace’s security and fraud detection capabilities provide “additional transparency and support” for the digital asset ecosystem.

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Switzerland’s Stock Exchange Gets Regulatory Approval To Launch Digital Bourse

SIX, Switzerland’s stock exchange, has revealed that it has received regulatory approval to launch its digital bourse. According to an announcement made on Friday, the Swiss Financial Market Supervision Authority greenlit the approval for the digital bourse, named SDX.

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Cardano launches smart contracts after successful hard fork

Cardano has completed its Alonzo hard fork to introduce Plutus-powered smart contract scripts.

On Aug. 12, Cardano tweeted that the upgrade had been completed successfully at epoch 290, facilitating the creation and execution of smart contracts on the public blockchain for the first time.

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El Salvador Adopt Bitcoin as National Currency

El Salvador’s Bitcoin Law has officially come into effect three months after its parliament passed the historic vote. The Central American nation is now the first country to recognize Bitcoin (BTC) as legal tender.

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Twelve-year-old boy makes £290,000 selling whale art NFTs

Benyamin Ahmed taught himself how to create pixellated artwork by watching video tutorials.

A 12-year-old boy has made around £290,000 selling whale art non-fungible tokens (NFTs).

Benyamin Ahmed created and sold the digital artworks, which are called Weird Whales, after teaching himself how to create pixels by watching video tutorials during the summer holidays.

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ECB Vice President States Crypto Should Be Regulated Like Other Assets

European Central Bank (ECB) Vice President Luis De Guindos has stated he wants cryptocurrencies to be subject to the same rules that other assets are. The statements were offered in a presentation given as part of the summer courses offered by the European Parliament, where De Guindos declared his opinion about cryptocurrency regulation.

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Visa buys CryptoPunk, takes a step into the NFT market

The NFT craze continues to attract people, as well as businesses in, with the most recent example of this being Visa’s own entry into the NFT space. The company just purchased CryptoPunk digital art, according to its announcement from earlier today, August 23rd.

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Bitpanda’s Valuation Hits $4.1B After Netting $263M in Series C Funding Round

Bitpanda, an Austrian crypto trading platform, has more than tripled its valuation in five months. Earlier today the platform was valued at $4.1 billion after its Series C funding round raised $263 million.

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Over $600 Million Stolen in Biggest Ever Cryptocurrency Theft

The largest hack in recorded history took place yesterday when attackers exploited a vulnerability that could change the “keeper role” of a blockchain contract and make any transaction such as a withdrawal, according to a Medium post by Poly Network.

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