OKex embraces Brazil’s official fast payments system PIX, as CBDC draws nearer
OKEx, Crypto.com, and LocalBitcoins have integrated Brazil’s PIX instant payments system. Increasing numbers of offshore cryptocurrency exchanges are embracing Brazil’s instant payments infrastructure, PIX.On May 28, OKEx announced a strategic partnership with local payments firm CuboPay, allowing it to facilitate Tether ($USDT) purchases in exchange for Brazilian real via PIX.The news follows similar moves from rival exchanges, including Crypto.com peer-to-peer platform Localbitcoins.The integrations come as the Central Bank of Brazil, or BCB, published preliminary guidelines for a....
Related News
Brazil’s central bank, the Banco Central do Brasil (BCB), is pushing for more time to roll out its central bank digital currency (CBDC). Earlier in May, BCB released a document covering the general guidelines and characteristics of Brazil’s future CBDC. Roberto Campos Neto, BCB’s chief central banker, also stated earlier last year that the country […]
In constructing its Real Digital, Brazil's central bank is developing mechanisms that can freeze citizens' conversion to CBDCs in the event of a bank run. In a paper recently published by the Bank for International Settlements (BIS), Fabio Araujo, an economist at the Central Bank of Brazil (CBB) who is also responsible for the country’s central bank digital currency work, revealed that the monetary authority will have greater control over the population’s money once its CBDC is rolled out. Through the so-called Real Digital, the central bank will be able to halt bank runs and impose other....
While the U.S. ramps up discussions of a digital dollar and China’s central bank digital currency (CBDC) draws near, Japan’s CBDC, otherwise known as the digital yen, is getting closer to its realization as well. Japan’s ruling Liberal Democratic Party member, Hideki Murai, explained in a recent interview this week that more clarity on the digital yen would be revealed next year. Ruling Liberal Democratic Party Member Hideki Murai Says Clarity on the Bank of Japan’s CBDC Is Coming Next Year In recent times, Japan has been discussing the creation of a digital yen....
Recently, OKEx integrated Unstoppable Domains into its crypto wallet system to improve the overall user experience and enable faster payments from peer to peer. To discuss the groundbreaking partnership and how custom crypto wallet addresses will impact the future of the industry, we’re speaking with OKEx CEO Jay Hao and Unstoppable Domains Founder Brad Kam. To get started, we’d like to thank you for the opportunity to speak to our audience about the integration. Can […]
The U.S. already has a “safe and active dynamic domestic payment system,” Powell argued. The United States will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency, or CBDC, according to the Fed's chairman, Jerome Powell.Powell claimed that he is not worried about other countries having a first-mover advantage when it comes to issuing CBDCs.Speaking at an Oct. 19 panel on cross-border payments hosted by the International Monetary Fund, Powell said:We have not made a decision to issue a CBDC, and we think there’s....