Cryptocurrency news - Business
South Korea to invest $187M in national Metaverse project
South Korea’s Ministry of ICT, Science, and Future Planning pledged 223.7 billion KRW ($186.7 million) to create a broad Metaverse ecosystem to support the growth of digital content and corporate growth within the country. The Ministry wrote in an official statemen...
Tourism in El Salvador up 30% since Bitcoin adoption, minister says
El Salvador’s adoption of Bitcoin (BTC) as legal tender in September 2021 has triggered a notable surge not only for its gross domestic product (GDP) but also for the local tourism development. According to Salvadoran Tourism Minister Morena Valdez, the tourism ind...
KB Bank to launch South Korea’s first crypto investment fund
Kookmin Bank is preparing to become the first bank in South Korea to offer crypto investment products to retail investors. KB announced on Feb. 21 that it had formed a Digital Asset Management Preparatory Committee to determine product and strategy capabilities regarding...
Apple stock jumps after CEO reveals it's investing in the Metaverse
Apple's stock price jumped in after hours trading after CEO Tim Cook said during the company’s Q1 2022 earnings call that he sees considerable potential in the Metaverse space. When asked on Jan. 27 during the call about Apple’s opportunities within the Metaverse, Coo...
Bank of America says stablecoin adoption and CBDC is ‘inevitable’
It appears that the U.S. will finally be moving forward to create its own central bank digital currency (CBDC) according to the Bank of America. Bank of America crypto strategists Andrew Moss and Alkesh Shah wrote in a Jan. 24 note that CBDCs “are an inevitable evolution of...
Is Walmart gearing up to enter the Metaverse?
It appears that retail giant Walmart Inc. is getting ready to enter the Metaverse with patent filings indicating that it plans to create its own cryptocurrency and NFT collection. The multinational retailer filed several new trademarks with the U.S. Patent and Trademark...
Chia Network Launches Native Peer-to-Peer Trading Services for Wallet Holders
Chia Network, the energy-efficient, blockchain and smart transaction platform created by BitTorrent founder Bram Cohen, is launching native, peer-to-peer exchange services for Chia wallet holders, the company said Tuesday. To support the product, called Offers, the company sai...
India’s Central Bank Creates Fintech Department as Challenges Posed by Crypto, CBDC Grow
India’s central bank has created a dedicated department for fintech challenges, which includes a pair at their doorstep: framing cryptocurrency regulations and a central bank digital currency (CBDC). The move by the Reserve Bank of India (RBI) comes a fortnight aft...
China’s central bank releases pilot version of digital yuan wallet
As China’s central bank steps up its effort to create a digital currency, the country has released a pilot edition of its digital yuan wallet application on mobile phone app stores. The People’s Bank of China (PBoC) digital currency research institute develop...
Korean government tells Apple and Google stores to take down P2E games
The South Korean government has moved to block the release of new play to earn (P2E) games and requested that existing ones be removed from Google Play and Apple’s App Store. P2E gaming has become popular in the cryptocurrency industry. Gamers typically must first purchase...