The latest report published by the Society for Worldwide Interbank Financial Telecommunications (SWIFT) has revealed that the Chinese yuan overtook the euro as the second most used currency in trade finance markets. However, the dollar is still comfortably in first place, with more than an 80% share in these payments. Chinese Yuan Overtakes Euro in […]
The European Central Bank (ECB) has decided to move its digital euro project to the next phase after two years of investigation. The “preparation phase” of the digital euro will involve “finalizing the digital euro rulebook and selecting providers that could develop a digital euro platform and infrastructure.” Digital Euro Proceeds to ‘Preparation Phase’ The […]
Crypto exchange Binance has issued a recommendation for customers using the services of Paysafe for euro (EUR) transfers. The crypto trading platform is advising users to convert their euro balances to tether (USDT) or withdraw them to bank accounts after the payment processor suspended deposits and withdrawals in the common European currency. Binance Urges …
European Central Bank (ECB) executive board member Fabio Panetta has warned about stablecoins issued by private providers, such as Paypal. He also provided an update on the progress of the digital euro. “At the ECB, our investigation phase is now in its final stage, preparing the ground for the Governing Council to decide whether to […]
Economics Nobel laureate Paul Krugman recently stated that Argentina might be better off adopting the euro instead of the U.S. dollar amidst the devaluation of the Argentine peso. Krugman argued that Argentina has almost twice as much trade with the European Union as it does with the U.S., stating that the euro would suit them […]