Kuwait creates infrastructure for its future national cryptocurrency

Kuwait creates infrastructure for its future national cryptocurrency

According to local media, the Central Bank of Kuwait announced plans to create a national cryptocurrency and payment system.



The head of the bank, Dr. Mohammad Y. Al-Hashel, said that in 2019 and 2020, the Kuwaiti National Payment System (KNPS), which is being created in cooperation with banks and payment services, will be deployed in the country.



The new system will include a government e-banking service, digital currency and an automated clearing house. According to Al-Hashel, all these initiatives are designed to strengthen stability and improve the efficiency of the financial system, as well as to create the infrastructure necessary to serve the growing economy of the country. For example, a government electronic banking system ...
Read more about "Kuwait creates infrastructure for its future national cryptocurrency" on coinatory.com

Comments

Post a Comment

Popular posts from this blog

$500K worth of stETH redeemed in 3 hours as Lido enables withdrawals

Image
According to data from Parsec Finance on May 15th, the Lido liquid-staking protocol enabled its users to withdraw Ether for the first time. This was made possible through an upgrade to version two, which was approved by the Lido decentralized autonomous organization. Before the upgrade, users were unable to withdraw their ETH because of the lack of a withdrawal function. After the upgrade, users were able to redeem their stETH for its underlying ETH, resulting in over $500,000 worth of ETH being withdrawn in the first three hours. Liquid staking has become increasingly popular since the Shapella upgrade, and on May 1st, it became the top decentralized finance category in terms of total value-locked, surpassing decentralized exchanges. However, there are still legal uncertainties surrounding liquid staking in the United States, Read more about $500K worth of stETH redeemed in 3 hours as Lido enables withdrawals #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonews
Read more

Crypto.com Secures Pivotal License from Dubai’s Virtual Assets Regulator

Image
In a landmark move for the cryptocurrency sector, Dubai's esteemed Virtual Assets Regulatory Authority (VARA) has awarded a Virtual Asset Service Provider (VASP) license to Crypto.com, a leading global trading platform. This authorization, announced on April 9, empowers Crypto.com to extend its sophisticated institutional services to the burgeoning market within the Emirate, signifying a major milestone in its expansion efforts. Eric Anziani, the Chief Operating Officer and President of Crypto.com, articulated the strategic importance of this development, stating, "Initiating our world-renowned institutional services through the Crypto.com Exchange in Dubai is crucial for our continued growth and success in this vital market for our company." This sentiment underscores the strategic vision of Crypto.com as it solidifies its presence Read more about Crypto.com Secures Pivotal License from Dubai’s Virtual Assets Regulator #CryptoCom, #Cryptocurrency, #Cryptomarket, #Crypton
Read more

Bitcoin news

Image
Bitcoin news section contains news about bitcoin - the main cryptocurrency. While the crypto world has a vast variety of cryptocurrencies, bitcoin has around half of it, at least, by capitalization on the cryptocurrency market. The same story with the cryptocurrency news - bitcoin news plays an important role here and there are lots of them daily, comparing to the other coins. While being the first of a kind, bitcoin is not becoming outdated as the core development team is constantly working on improvements of its code and network. But ... Read more about " Bitcoin news " on coinatory.com
Read more