First Bitcoin Bank May Launch in Australia
Web technology company HotwirePE of Australia may be looking to make a splash in the digital currency community by launching a bitcoin bank as soon as this year. Announced on Tuesday, Denariuz Bank will focus only on cryptocurrencies, particularly bitcoin. HotwirePE CEO Dr Steven Wright said his company has been working with the Australian Tax Office and the Australian Securities and Investments Commission to make it all come together for the past ten months, and says he hopes to have a "full banking licence" from the Australian Prudential Regulation Authority for bitcoin banking. "We seek....
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The monetary authority in Australia is beginning research into the potential economic benefits of issuing a central bank digital currency. Within the project, the regulator hopes to identify use cases and intends to develop a limited-scale pilot. Central Bank of Australia Working on Digital Currency Program The Reserve Bank of Australia (RBA) announced the launch of a research program to explore the benefits of issuing a central bank digital currency (CBDC) for the country’s economy. The project, expected to take about a year, will be realized together with the Digital Finance....
The CBA stated that it will support 10 crypto assets in its banking app, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin. The Commonwealth Bank of Australia (CBA) is set to launch crypto trading services for the 6.5 million users of its CommBank app. The CBA will become the first bank in Australia to support crypto, and Blockchain Australia says it is “inevitable” that the other ‘big four’ banks including National Australia Bank (NAB), Australia and New Zealand Banking Group (ANZ) and Westpac will soon follow suit. According to a Nov. 3 announcement, the CBA has partnered with the....
Reserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties to participate with proposals and suggest pilot projects. Central Bank of Australia to Pilot CBDC Until Middle of 2023 The Reserve Bank of Australia (RBA) has set out to explore use cases for a digital version of the Australian dollar. It’s collaborating on the project with the Digital Finance Cooperative Research Centre (DFCRC), a research program funded by the government and....
The mobile payment sector is heating up, as every company and financial institution are scrambling to launch their platform in the near future. Over in Australia, it will not be smooth sailing for Apple Pay by any means, as the country’s major banks continue to boycott the popular mobile payment solution. NAB was among the first to launch their own mobile app, and now ANZ Mobile Pay is here as well. Bitcoin, on the other hand, is creating a far less fractured payment ecosystem around the world. Apple Pay Battle in Australia Becomes A Lot Harder. Even when consumers might be preferring to....
The Commonwealth Bank of Australia (CBA) plans to begin using the Ripple network to settle payments between its subsidiaries soon. Commonwealth Bank chief information officer David Whiteing revealed the large bank's interest in Ripple technology yesterday during a speech at an event hosted by the Australian Information Industry Association (AIIA). Technology news outlet CIO reported Whiteing said, "Bitcoin is a protocol which is now being replicated by non-asset based vendors like Ripple and others. We absolutely see that's where it's going to go. The bank has a role to play in that." "As....