The purpose of AUDN would be to allow its customers to settle transactions on blockchain technology in real-time using Australian dollars, NAB said. AUDN could also be used for several other purposes including “carbon credit trading, overseas money transfers and repurchase agreements,” NAB’s Chief Innovation officer Howard Silby told AFR. Author: Amitoj Singh Source link
National Australia Bank (NAB) is set to become the second “Big 4” Australian bank to launch an Australian dollar-pegged stablecoin on the Ethereum network. Set to launch sometime in mid-2023, the AUDN stablecoin is aimed at streamlining cross-border remittances and carbon credit trading, according to a Jan. 18 report from the Australian Financial Review (AFR). NAB’s chief innovation officer Howard Silby said the decision to mint the AUDN stablecoin on Ethereum — which is backed 1:1 by the Australian dollar (AUD) — was based on their belief that blockchain infrastructure…
While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network’s average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93 per transfer, but today the average cost is 54% higher at $4.52 per transfer. Rise in Ethereum Value Leads to Increased Onchain Transaction Costs Sending ethereum (ETH) is becoming more costly as the crypto asset’s value has risen greatly over the…
Bitcoin price is showing signs of getting overheated on daily timeframes using the Relative Strength Index (RSI). The tool, typically used to spot overbought conditions, is at one of its highest levels ever historically. However, an elevated RSI reading in BTCUSD is deceiving, leading to some of the most dramatic moves ever on the cryptocurrency’s price chart. Here is a closer look at what happens when Bitcoin price action gets this hot. Bitcoin RSI Reaches Highest Level Since Early 2021 After breaching above $20,000, onlookers are wondering if a possible…
Cryptocurrency lending firm Genesis Global Capital, a subsidiary of crypto conglomerate Digital Currency Group, is reportedly preparing to file for bankruptcy as early as this week. According to a Jan. 18 Bloomberg report, Genesis previously said it was considering a bankruptcy filing if it were unable to raise cash amid a liquidity crunch — a situation similar to that preceding crypto exchange FTX’s Chapter 11 filing in November. Citing people with knowledge of the situation, Bloomberg reported Genesis could file for bankruptcy as soon as this week. The report followed…
Nigeria plans to explore stablecoins, a blockchain-powered central bank digital currency (CBDC), and rethink its stance on initial coin offerings (ICOs) as part of a planned overhaul of its payments landscape. In its latest policy paper, the Central Bank of Nigeria (CBN) delved into its payment system vision, emerging global trends in the payments market, and how the West African country can keep pace with its peers in the era of digital payments. Titled “Nigeria Payments System Vision 2025,” the paper listed blockchain as one of the key technologies the CBN…
According to a Jan. 18 press release, United States-based capital markets advisory and token offering platform Deal Box has launched a new $125 million venture capital arm dedicated to blockchain and Web3 startups. The fund, dubbed Deal Box Ventures, will invest in companies in the emerging growth, real estate, fintech, funtech and social impact fields. Commenting on the development, Thomas Carter, founder and chairman of Deal Box, said: “Deal Box Ventures is an important milestone in our journey to invest in the most promising and disruptive blockchain startups, providing them with…
Customers have until Feb. 16 to withdraw their fiat and crypto holdings from the exchange. Author: Jamie Crawley Source link