Binance's self-custodial crypto wallet Trust Wallet aims to enable the purchase of more than 200 digital assets with 40 fiat currencies via Binance Connect, formerly known as Bifinity.
Fiat Money News
Although the crypto space commonly uses the term, many folks may still wonder, “What is fiat money?” The fiat definition is fairly straightforward: Fiat money, also called fiat currency, refers to currencies put out by governing bodies and central banks. Fiat money examples include the U.S. dollar, the Chinese yuan and the Mexican peso. Governments control fiat, meaning it is a centralized form of money tied to the borders of each respective country, for the most part.
Different in its design and control, Bitcoin (BTC) is not a fiat currency. Bitcoin is borderless and decentralized, and governments neither issue nor control it. In general, cryptocurrencies are not fiat currencies, although some stablecoin assets represent certain fiat currencies in digital form.
Tether expects to be part of industry innovation in the United Kingdom as the country is planning to adopt stablecoins as a means of payment.4496
Tether expects to reduce USDT’s commercial paper backing to $8.4 billion by the end of June 2022 and eventually completely remove it.6686
Halfway through 2022, the BTC ATM installation numbers dropped 89.75% by May, followed by a swift recovery in June.9554
The World Bank has said “it will be physically impossible” for the lender to fund the planned Sango crypto hub and voiced concerns regarding the country’s adoption of Bitcoin.3741
“This latest attestation further highlights that Tether is fully backed and that the composition of its reserves is strong, conservative and liquid," said Paolo Ardoino.2162
Crypto is more volatile than stocks and thus is associated with higher risks, but it also offers better return opportunities, industry executives agree.3461
Ukrainians are now allowed to buy Bitcoin only with foreign currency with a monthly cap of $3,300.8308
The bank facilitated $142 billion worth of transfers between crypto exchanges and financial institutions in Q1.2321
From fiat banknotes to fractional reserve banking, the notion of what constitutes money in the U.S. has changed over time. But is the time right for e-cash?3147
Nexo has officially launched its cryptocurrency credit card in collaboration with Mastercard after announcing the project back in 2019.8305
The U.S. dollar index could rally further in the coming weeks, which is typically bad news for Bitcoin.7197
Jamaica Digital Exchange — Jamaica’s soon-to-be-released CBDC — will see citizens with crypto wallets receive a $16 deposit to help spread awareness and usage.8327
Stripe has partnered with FTX, FTX US, Blockchain.com, Nifty Gateway and Just Mining to launch a crypto business suite.6930
Russians cashed out over $1.3 billion from banks on the first day of Russia’s invasion of Ukraine, the largest amount since the onset of COVID-19.3292