Private Zahlungsdienste könnten eine Monopolstellung erlangen, was anderen Marktteilnehmern oder der wirtschaftlichen Stabilität nicht zugute kommt, so EZB-Direktoriumsmitglied Fabio Panetta.
South Korean Hana Bank and BitGo to launch joint crypto custody venture
- Hana Bank and BitGo are expected to launch a crypto custody service in the second half of 2024.
- Hana Bank is interested in having tokenized deposit technology replace central bank digital currencies and private stablecoins.
- South Korean Parliament in June 2023 passed the Virtual Asset User Protection legislation, which integrates 19 crypto-related bills.
Korea Exchange Bank (KEB) Hana Bank, one of the biggest banks in South Korea, and the leading cryptocurrency custody company BitGo Trust Company has entered into a partnership to enable KEB Hana Bank to provide digital asset custody services. According to the local news outlet Yonhap, KEB Hana Bank and BitGo reached a strategic business deal to jointly develop digital asset custody in South Korea.
The bank’s representatives reportedly made the announcement on September 5 during the “Korea Blockchain Week” conference for the cryptocurrency sector.
The commercial bank has outlets in 111 locations and about $10 billion in local banking assets and equity.
Hana Bank and BitGo collaboration
Korea Exchange Bank (KEB) Hana Bank and BitGo will work together to create a joint venture that will combine Hana Bank’s knowledge of financial services and compliance with BitGo’s crypto custodial solutions.
According to BitGo’s CEO Mike Belshe, the company will concentrate on strengthening the security and transparency of the South Korean digital asset market. On the other hand, a Hana Bank executive reportedly said:
“By promoting digital asset custody business together with global partners, we expect to contribute to strengthening trust in the domestic digital asset market and consumer protection.”
According to online reports, Hana Bank and BitGo want to establish their joint cryptocurrency custody business in the second half of 2024.
Hana Bank’s interest in tokenized deposits
Hana Bank has shown interest in tokenized deposit technology as a substitute for central bank digital currencies and private stablecoins.
The bank, along with regional private banks including Woori Bank and Maeli Business News Korea, published a study in July 2023 describing the so-called “certificate of deposit” tokens that would eventually replace conventional notes and deposits without upsetting the established banking system.
The post South Korean Hana Bank and BitGo to launch joint crypto custody venture appeared first on CoinJournal.
„Kryptowährungen sind hochriskant“: Ehemaliger MAS-Vorsitzender nun Präsident von Singapur
Der ehemalige Vorsitzende der wichtigsten Regulierungsbehörde in Singapur Tharman Shanmugaratnam hat sich zuvor kritisch über Kryptowährungen geäußert und ist nun zum Präsidenten des Landes gewählt worden.
Is it the right time for Bitcoin to jump above $30k again?
- Bitcoin and EUR/USD have a direct correlation
- If EUR/USD makes a new high for the year, Bitcoin should follow
- Elliott Waves points to a move back above 1.10 for EUR/USD
It has been a struggling summer for Bitcoin investors as the US dollar strengthened. After trading above $30k in mid-April, Bitcoin failed at the highs just as the dollar’s strength started.
The easiest way to interpret Bitcoin’s price action is to look at the EUR/USD. When Bitcoin traded above $30k in mid-April, EUR/USD reached above 1.10 after an impressive rally from below 0.96.
Then, the EUR/USD corrected to the 1.06 area, and Bitcoin followed the same path as it dropped to $25k. Next, EUR/USD made a new high and traded above 1.12, a move that Bitcoin quickly copied as it made another high for the year.
It is, therefore, safe to assume that for Bitcoin to reverse the recent bearish trend, we should see the EUR/USD bounce from the current levels and trade above 1.12 again. More precisely, the dollar’s strength should end for Bitcoin to reverse course.
Elliott Waves suggests EUR/USD should trade above 1.10 again
Looking at the EUR/USD rally from the 2022 lows through the lens of the Elliott Waves theory, it becomes evident that the market completed a five-wave structure when it reached 1.12.
Everything fits – the extension, the channeling, and even the retracement from the highs, completed in the right time needed to validate the pattern.
It means that EUR/USD weakness seen during the summer months is part of a corrective phase. Once ended, the correction should be completely retraced.
Therefore, all eyes are on the 1.10 pivotal level. By regaining the level, EUR/USD should also put a bid under Bitcoin, should the correlation mentioned earlier remain valid.
The post Is it the right time for Bitcoin to jump above $30k again? appeared first on CoinJournal.
Introducing Dollet: The Future of Multi-Chain Crypto Wallets with DeFi Strategies
Dollet, the revolutionary multi-chain crypto wallet with additional DeFi functionality, is making its grand entrance into the cryptocurrency landscape. This highly-anticipated launch marks a pivotal moment in the world of digital finance, as Dollet redefines the concept of secure and profitable crypto management.
A New Era of Crypto Wallets
Dollet proudly presents its MVP product, an innovative non-custodial multi-chain wallet that stands out in a crowded market. Designed for both seasoned crypto enthusiasts and those new to the scene, Dollet offers a comprehensive solution for safely storing cryptocurrencies while enabling users to harness the potential of Decentralized Finance (DeFi) strategies.
*sequence of transactions which is preliminarily scheduled and cannot be changed neither by the user, nor by the Dollet
The brainchild of a visionary team, Dollet was created to serve as a “health-conscious wallet” for all crypto enthusiasts who seek both security and opportunities for additional income through DeFi. It addresses the challenges of complex user experiences and time-consuming research for secure DeFi strategies. Whether you’re an individual seeking quality, speed, progressiveness, or security in a crypto product, Dollet is the answer, complete with effective communication channels to engage with the team and connect with like-minded users.
DeFi Strategies in a Competitive Landscape
Dollet emerges as the first wallet to incorporate DeFi strategies, giving users the power to engage in DeFi using pre-configured investment strategies. Dollet offers its users the chance to invest and multiply their capital through strategies tailored for different preferences and risk appetites. During its MVP release, Dollet will feature three strategies:
• USDC-USDT Strategy on Arbitrum
• USDC-crvUSD on Ethereum
• USDT-crvUSD on Ethereum
These strategies serve as a gateway for users to explore the exciting world of DeFi with confidence and convenience. In the future, Dollet aims to offer up to 100 investment strategies, granting users a diverse array of choices to suit their financial goals.
*In the spirit of transparency: Dollet will apply a 20% commission on earnings generated through DeFi strategies. This commission will fuel ongoing platform development, ensuring continuous improvements, enhanced security, and top-notch service quality.
User-Friendly Experience and Security at the Core
Dollet’s user interface is designed with ease of use in mind. With a seamless onboarding process through a seed phrase, Dollet ensures a smooth journey for users. Its intuitive design gently guides users toward low-risk strategies, providing stability and comfort in earnings.
The Dollet app is available for both iOS and Android users, accessible with just a single click on the App Store and Google Play Market.
Key Features of Dollet
• – DeFi Strategies
• – Bridge Functionality
Security and Auditing
Dollet enters the market with smart contracts and has undergone auditing by Certik. In the coming month, a Kaizen audit will be added to further enhance security.
The Concept of Dollet: Your multi-chain crypto wallet with bridge functionality.
Dollet isn’t just a wallet; it’s a digital companion. With its pixelated blockchain-inspired hair, Dollet stands as the symbol of innovation and security.
As Dollet puts it,
“You are welcome! I’m Dollet – multi-chain crypto wallet with bridge and DeFi functionality. I’m here to protect your crypto.”
Dollet empowers users to control their crypto transactions securely and privately, bridging the gap between digital finance and user-friendly experience.
Join the Revolution
Dollet launches as a promising young startup with ambitious goals. The team invites everyone to become part of its community across social media platforms:
Website: https://dolletwallet.com/
For media inquiries and more information, please contact: marketing@dolletwallet.com
This is an externally provided sponsored article. Sponsored articles like this one may contain promotional content and links. The content does not constitute financial advice and is for informational purposes only.
The post Introducing Dollet: The Future of Multi-Chain Crypto Wallets with DeFi Strategies appeared first on CoinJournal.