Silvergate is a major crypto bank known for assisting the launch of El Salvador’s crypto wallet Chivo.
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.
“CBDC would be part of an effort to address the use of crypto in financial transactions,” Central Bank of Indonesia assistant governor Juda Agung said.7788
The Bank of England promotes CBDCs as a “revolution of money,” while Brits are not really willing to use it.12450
Some 450,000 JD.com customers have used China’s digital yuan for payments as of June.2769
Crypto capital is moving to Puerto Rico as tax regulations are much more favorable than in the United States.5753
Crypterium’s cryptocurrency wallet application is available in more than 170 countries, the company says.4672
XanPool positions itself as a “Uniswap-like” crypto-to-fiat AMM relying on the liquidity of its participants.5096
Billionaire Peter Thiel shared concerns that investing in Bitcoin is already a “known secret.”12400
The crypto asset's market capitalization overtook the Russian ruble in February after a major announcement from car manufacturer Tesla.8330
Last week, the Russian president said it was “a bit early” to use cryptocurrencies to settle oil trades.18616
Bitcoin should be there to allow people to save in the event the government fails, Senator Cynthia Lummis said.6418
The Bank of Russia remains skeptical on crypto despite the Russian president viewing it as a potential unit of account.9839
The Bank of Mexico and the National Banking and Securities Commission issued a statement earlier this year warning financial institutions not to deal with digital assets, but the president has not often spoken directly on the subject.3632
The CEO of the British bank believes stablecoins, CBDCs and even NFTs will likely outgrow cryptocurrencies.2271
Co-led by Tiger Global Management and Coatue Management, the VC funding will inject funds worth $400 million into the bootstrapped company.5417