India Leads Cross-Border CBDC Payment
India is spearheading the cross-border payment process through digital payment mode. The Reserve Bank of India (RBI), the country’s central bank, is making steady progress in implementing its Central Bank Digital Currency (CBDC), known as the “digital rupee“.
India is trying to build global consensus towards digit currency regulation, in its ambitious endeavors to take digital rupee overseas. The country is spearheading a massive effort to realize the potential of CBDC in international trade payments.
Towards fulfilling its object, RBI has engaged at least 18 other nations. It is trying to implement the digital rupee in cross-border payments.
Circle Considers Issuing Stablecoin In Japan Under New Rules
Jeremy Allaire, the co-founder and CEO of payment service company Circle, said that Circle is considering to issue a stable in Japan, given that legislation governing stablecoins took effect on June 1.
Allaire said that if stablecoins become more widely used for cross-border trade, foreign currency transactions and global commerce, Japan will become an extremely large market.
Japan becomes one of the first countries in the world to establish a framework for the use of overseas stablecoins.
Allaire praised the Japanese government and Financial Service Agency for passing such a landmark stablecoin bill.
Allaire visited Japan last month and said that Circle is keen to do partnership with Japan.
NFT Creator Royalty Payments Hit Two-Year Low: Nansen
The enforcement of NFT royalty payments have been turned into a sour bone of contention between NFT creators and platforms for a long time. It seems that collectors have continued to give up paying optional royalties.
Nansen, a data analytics firm, released a report according to which NFT royalty payments dropped to a two-year low in June.
April 2022 contributed highest royalty payments of nearly $76 million, in one week of creator earning. Meanwhile, June’s highest week saw creators collectively earn just $3.8 million.
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