By Kapil Rajyaguru
Australia’s Central Bank Launches 3-Year Program For Wholesale CBDC
The Reserve Bank of Australia (RBA) will choose the wholesale central bank digital system.
The wholesale CBDC is more expensive than the retail one. The bank’s primary strategy is to grow wholesale CBDC.
The first RBA Assistant Governor, Brad Jones, unveiled the Reserve Bank of Australia’s strategy: a digital system of dollars.
On September 18, Melbourne hosted the Intersect Fintech Conference. It focuses on the growth of wholesale CBDC.
BitGo to Enter Stablecoin Market With Reward-Bearing USDS Coin.
At Token2049 in Singapore, BitGo revealed intentions to launch a dollar-backed stablecoin next year, rewarding institutions who contribute liquidity to the network.
USDS, like other stablecoins, will be backed by short-term Treasury bills, overnight repos, and cash. BitGo calls it the first open-participation stablecoin.
Circle’s USDC in Brazil and Mexico Now Available to Businesses Via Banking System.
Circle integrates USDC stablecoin with Brazilian and Mexican payment systems for business clients via partnerships with top banks.
Circle said it now lets companies to receive USDC directly from Brazilian financial institutions using PIX, a 2020 BCB payments system with over 160 million users. The Mexican central bank, Banco de México, powers SPEI.
USDT on TON Chain Surpasses $1 bn: Token Terminal.
Token Terminal, a crypto researcher, reports that USDT’s circulating quantity on The Open Network (TON) exceeds $1 billion.
Telegram Mini Apps, which use Telegram’s chat platform and TON chain, use Tether’s USDT as its stablecoin.
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