Veröffentlicht am

HSBC and Hang Seng join Standard Chartered and Fubon Bank in China’s Digital Yuan Pilot

  • HSBC and Hang Seng Bank have officially joined China’s digital Yuan pilot.
  • HSBC China customers can now utilize their debit cards to access personal digital Yuan wallet services.
  • There have been collaborative efforts between foreign banks and China’s financial authorities.

International banking giants HSBC and Hang Seng Bank have officially joined China’s digital Yuan pilot, signalling a pivotal moment for foreign banks in the digital currency space. This comes barely a month after HSBC launched digital asset custody services.

This move underscores a growing trend of traditional financial institutions embracing central bank digital currencies (CBDCs) globally.

Foreign banks enter Digital Yuan pilot program

Being foreign banks, HSBC and Hang Seng Bank have made headlines as part of the first group of foreign banks to officially announce their participation in China’s digital Yuan pilot.

Reports from the 21st Century Business Herald reveal that the banks have embarked on this journey, embracing the innovative technology behind the digital Yuan.

HSBC China customers wielding debit cards can now leverage the official digital Yuan app for personal wallet services. This includes the ability to activate and deactivate wallets seamlessly. Moreover, these customers can utilize their conventional debit cards to top up their digital RMB wallets, marking a practical integration of traditional and digital financial services.

Standard Chartered, another international banking heavyweight, has confirmed its involvement in the digital yuan pilot. The bank’s Mainland China arm has successfully accessed the digital Yuan interconnection platform, enabling it to offer digital Yuan exchange services to its customers. This move underscores a strategic push by foreign banks to play a pivotal role in China’s evolving CBDC landscape.

Collaborative efforts and CBDC adoption

Standard Chartered’s collaboration with a Mainland Chinese chartered clearing organization overseen by the People’s Bank of China emphasizes the collaborative efforts between foreign banks and China’s financial authorities. This aligns with the broader trend of HSBC and Hang Seng intensifying their CBDC adoption plans, not only within Hong Kong but also on a global scale.

These developments mark a watershed moment in the integration of traditional banking institutions into the digital currency landscape, emphasizing the increasing importance of CBDCs in the evolving financial ecosystem.

The post HSBC and Hang Seng join Standard Chartered and Fubon Bank in China’s Digital Yuan Pilot appeared first on CoinJournal.

Veröffentlicht am

Should you buy more Memeinator tokens as Bitcoin slips below $37k?

Key takeaways

  • BTC’s price has dropped below the $37k level as the bears gain control of the market.

  • The Memeinator presale has officially crossed the $1.5 million milestone.

The cryptocurrency market has been bearish since the start of the week, with Bitcoin and other major cryptocurrencies trading in the red zone. However, the Memeinator presale has just hit a new milestone and is set to go higher. 

Bitcoin and altcoins underperform

Bitcoin and altcoins have been underperforming over the last few days. BTC has lost more than 1% of its value over the last 24 hours. At press time, the price of Bitcoin stands at $36,912 per coin. 

Leading altcoins including Ether, BNB, Solana, ADA, DOGE, and TRX, have all lost more than 2% of their value over the last 24 hours.

What is Memeinator?

Memeinator is a Web3 project designed to help content creators generate better content. It intends to change how people view memes. The project intends to leverage the hype around meme coins by providing users with numerous use cases.

According to their whitepaper, Memeinator’s job is to destroy worthless memes, ensuring that there is a higher level of quality content available to users. 

The project differs from thousands of other meme tokens because it offers users real-world utility. Per the whitepaper, Memeinator will use AI  to identify worthless memes, allowing users to know them and steer clear of them.

The goal is to ensure that Memeinator becomes a $1 billion market-cap crypto project, turning it into one of the biggest meme coin projects in the Web3 ecosystem. The development team has also published a detailed roadmap that shows how Memeinator will reach the $1 billion market cap. 

The Memeinator presale is currently in its seventh stage and has raised more than $1.5 million so far. In the first presale stage, the MMTR was sold for $0.01, but it has been increased to $0.014 in the current stage. The price will rise to $0.0485 by the end of the presale, giving early investors a whopping 132% ROI at listing. 

Memeinator’s presale will soon enter the eighth stage

The Memeinator presale will round up its seventh stage over the next few hours or days. So far, the team has raised more than $1.51 million of its $1.8 million target in the current stage. 

Its native MMTR token can be purchased using ETH, USDT and USDC stablecoins. At the moment, the token is available to users on the Ethereum and BNChain blockchains. 

Purchasing the MMTR token is easy as it involves connecting any of the supported wallets to the Memeinator website and buying the tokens using ETH, USDT and USDC coins. 

Click here to read more about the Memeinator presale.

Why is the Memeinator presale growing so fast?

The Memeinator presale is growing so fast thanks to the increasing interest from investors. The project offers real-world utility to users and its MMTR token will power several activities on the platform. 

Thanks to its utilities, Memeinator could gain massive adoption from degens, crypto natives, and speculators. The team believes that Memeinator’s use cases go beyond the crypto space, as content creators could use its services to gain access to quality memes. 

Memeinator will take advantage of its AI technology to analyse and evaluate memes across the internet, identifying lower-quality memes to replace or destroy them. 

MMTR holders will enjoy numerous incentives thanks to the token’s excellent features. The token has deflationary mechanisms and rewards for holders. Furthermore, the Memeinator team has allocated 20% of the tokens for marketing, CEX listing and liquidity. 

Is the Memeinator a good project for investors? 

Memeinator could become one of the biggest winners in the bull market if the project gains the right level of adoption. 

This project will be leveraging AI and blockchain technology to provide excellent value to investors over the coming months and years. With the right level of adoption and the goal to reach a billion-dollar market cap, early investors would be the biggest winners.

The post Should you buy more Memeinator tokens as Bitcoin slips below $37k? appeared first on CoinJournal.

Veröffentlicht am

Shiba Inu dips by 4% this week: is the dip an opportunity to buy more meme tokens?

Key takeaways

  • Shiba Inu is down by 4% over the last seven days as the market undergoes a correction.

  • Shiba Memu’s presale has now raised more than $4.6 million as more investors troop in.

The cryptocurrency market is undergoing a slight correction after its excellent performance in recent weeks. However, Shiba Memu’s presale continues to hit new highs. 

Shiba Inu could slip below $0.000008

SHIB, the native token of the Shiba Inu ecosystem, is down by 4% over the last seven days. The poor performance comes as the broader cryptocurrency market undergoes a correction.

At press time, the price of Shiba Inu stands at $0.000008077 per token. If the bearish trend continues, SHIB could drop below the $0.000008 level in the near term. 

What is Shiba Memu?

Shiba Memu is a new Web3 project that is launching as a meme token. The project continues to attract interest from investors as the broader cryptocurrency market continues to record an excellent year. 

Its presale recently surpassed the $4.5 million mark and could soon hit the $5 million milestone if the interest continues. 

Shiba Memu is a project that seeks to help individuals and entities handle marketing campaigns. According to their whitepaper, the Shiba Memu platform will leverage blockchain and AI to offer marketing services to users.

The use of AI and blockchain technology would allow Shiba Memum to become a self-sufficient marketing powerhouse. With this platform, users can carry out a wide range of marketing activities. 

The platform will operate 24/7 thanks to its use of AI. It will also identify ideal creative scenarios and develop excellent marketing campaigns for users.

The team revealed that its launch as a meme token is due to the fact that they intend to take advantage of the hype around meme projects. Meme coins have become important in the crypto industry, growing from a market cap of $0 in 2019 to $35 billion in 2023. 

What separates this project from the thousands of other meme coins available in the market is that it offers utility to users. The Shiba Memu AI technology will help users develop their marketing strategies, write their PRs, and promote their services and products on relevant forums and various social media platforms. 

At launch, Shiba Memu will only be available to users on the BNBChain and Ethereum blockchains. 

Shiba Memu’s presale surpasses $4.6 million

Although the broader crypto market is having a poor start to the week, Shiba Memu’s presale continues to hit new milestones. The project has raised $4.615 million so far. At this rate, the Shiba Memu presale will hit the $5 million mark. 

The team will use the funds to develop its AI technology and a suite of other products. 

Click here to find out more about Shiba Memu’s presale event. 

Should you increase your Shiba Memu investment?

Shiba Memu is an excellent project that has a lot of prospects. Investors have been pouring funds into the project over the past few months thanks to its unique value proposition.

If you have invested in Shiba Memu before, you can purchase more of its tokens as the project could be one of the biggest winners in the upcoming bull run. The token could gain massive adoption over the coming months or years, and that could see its price soar higher. 

Listing on cryptocurrency exchanges and gaining massive adoption could see the SHMU token rally to new highs in the coming months and years. 

The post Shiba Inu dips by 4% this week: is the dip an opportunity to buy more meme tokens? appeared first on CoinJournal.