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Binance to Launch NYDFS-Approved Dollar-Pegged Stablecoin
Binance , the world’s largest cryptocurrency exchange by trading volume, has announced that it will be launching a dollar-denominated stablecoin The cryptocurrency, called BUSD for Binance USD, will be launched in partnership with Paxos, a regulated financial institution, and comes complete with the blessing of the New York State Department of Financial Services (NYDFS). Rich Teo, Paxos co-founder and CEO
Grab to Invest $150 Million on AI
Grab, the Southeast Asian ride-hailing, food, and payments giant, said that it will be spending $150 million on artificial intelligence over the next 12 months, Bloomberg reports. The startup, which has already spent $100 million on the technology over the past year, aims to use AI to scale itself more effectively while at the same time, improve its fraud prevention,
Jack Dorsey: Bitcoin ‘Not Functional as a Currency’
One of bitcoin’s biggest advocates had some interesting words to say about the popular cryptocurrency. Citing the Australian Financial Review (AFR), the Coin Telegraph reports that Twitter CEO Jack Dorsey does not believe bitcoin can function as a currency. Dorsey apparently told the AFR that while he believes bitcoin will continue to be widely adopted, he feels that “it's not
Franklin Templeton Launches Money Market Fund, Blockchain Style
Here’s something interesting, American asset management giant Franklin Templeton is launching a government money market fund – and it wants it on the blockchain. The fund will be called the Franklin Blockchain Enabled U.S. Government Money Fund, and per its prospectus, it will invest “at least 99.5% of its total assets in Government securities, cash and repurchase agreements collateralized fully
New AI Can Help Predict Heart Attacks Five Years in Advance
AI, Healthtech
By “harnessing the power of AI,” researchers at the University of Oxford have found a way to predict heart attacks at least five years in advance. Medical Xpress reports that researchers funded by the British Heart Association (BHA) have developed a new biomarker – or “fingerprint” – that spots cardiovascular red flags using machine learning. The biomarker, called the fat
HSBC Completes First Blockchain-Based Letter of Credit Denominated in Yuan
Banking giant HSBC has carried out a blockchain-based letter of credit transaction denominated in Chinese yuan, Reuters reports. The letter of credit involved Hong Kong-based MTC Electronics exporting a shipment of LCD parts and panels to its parent company, Shenzhen MTC, across the border. The transaction was reportedly done in 24 hours, a fraction of the five to 10 days
How Big Data Analytics Is Used In Stock Market
FinTech, AI
The scenario of the Stock Market is constantly moving as millions change hands in a second. Some of the people are getting highly rewarded while others are getting impoverished in this extensively dynamic market. What makes the winners stand apart from the rest of the crowd is the ability to predict online stock trading behavior on a given day or
Alan Howard Eyes $1 Billion Cryptocurrency Fund
Alan Howard, the man behind the hugely successful macro fund, Brevan Howard, is looking to launch a $1 billion fund of crypto funds. According to the Coin Telegraph, Elwood Asset Management, a digital asset management firm wholly owned by Howard, is looking to lure institutional investors into the crypto space by making something similar to a fund of funds. Like
Manny Pacquiao Launches World’s First Celebrity Cryptocurrency
Philippine boxing champion Manny Pacquiao has launched the world’s first celebrity cryptocurrency, according to the South China Morning Post. Pacquiao’s “Pac” token, which allows fans to buy his merchandise and interact with him via social media, was launched at the boxer-slash-politician-slash-singer’s debut concert in Manila on Sunday. It will be listed on Singapore’s Global Crypto Offering Exchange (GCOX) and it
E-Commerce Surges in Southeast Asia
Present growth trends and adoption of e-commerce in Southeast Asia are reminiscent of the United States in 1997. In that year, a young American company called reported sales growth over 800% 1. Two decades on, Amazon's growth story has become well-known and e-commerce has become a significant part of the U.S. retail economy. In Southeast Asia, a collective market