Chinese company is funding a Japanese stablecoin project
Grandshores Technology Group is a Chinese investment company that focuses on blockchain and crypto. The company plans to raise $12.7 million in an official funding round for a stablecoin that will be value backed by the Japanese Yen. Yongjie Ya, a representative of the investment company, is in charge of the funding round. He revealed that the Grandshores Group has partnered with a middle-sized Japanese Bank in order to create the stablecoin. However, he did not reveal the name of the bank, as well as the name of the stablecoin. Lately, stable coins have surged due to the correction in the crypto market. Currently, there are only two noticeable Fiat-stablecoins: Tether and TrueUSD.
Top 10 bank of the USA implemented Ripple’s xCurrent
The PNC Bank is one of the Top 10 Banks in the USA by the value of managed assets. According to Ripple’s senior vice president, Asheesh Birla, PNC Bank is already using xCurrent. Apparently, the bank conducted the test phase successfully behind drawn curtains. The PNC bank has now entered the production phase and already uses xCurrent in customer transactions. Birla stated that he hopes that xVia’s usefulness will convince the PNC bank and many other of Ripple’s partners to use xRapid as well. Ripple’s fastest transaction system that relies on XRP as its native token will launch next month.
Europol: Bitcoin not used for funding terrorism in Europe
A Europol report states that terrorist networks did not rely on Bitcoin and other cryptocurrencies to fund their activities in Europe. The report (download link) is 72 pages long and informs about a wide range of online crimes. The report mentions Bitcoin on 18 pages in the report. However, the section on terrorism negates that Bitcoin played any significant role in funding terrorists in Europe. Instead, terrorists relied mostly on Fiat money.
New Finance Minister in Zimbabwe Encourages Citizens to Invest More in Cryptocurrencies
Ethereum World News takes note of the fact that Zimbabwe has a new finance minister and. According to the news outlet, he is determined to change the tide and ensure that the country’s economy becomes stable again. During a recent interview, the minister stated that he believes that cryptocurrency will help the country pull itself out of the current crisis. Zimbabwe strengthened its centralist government in the recent decades and conducted anti-white policies that resemble South-African policies right now. As a consequence, the country fell into a deep depression.