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Bakong, Cambodia’s digital currency , has surpassed 10 million opened accounts, accounting for 60% of the nation’s population. In a recent interview with Nikkei Asia on Dec. 19, Cambodia‘s central bank governor, Chea Serey, revealed that the country’s nascent digital currency, known as Bakong, co-developed with a Japanese startup, has been distributed between approximately 10 million accounts. The figure is a significant milestone as around 60% of the nation’s population now potentially utilizing Bakong for transactions, the report indicates. Serey also shared plans for expanding Bakong’s reach internationally, particularly through a collaboration with UnionPay International, China‘s card payment service, and other global partners. “We have already launched cross-border payment connectivity with Thailand, Laos, and Vietnam.” Chea Serey You might also like: Cambodia: Project Bakong CBDC goes live Moreover, the Nation...

The telecommunication firm Internet Initiative Japan will use the yen-pegged digital currency for clean energy settlements. Japan will launch its first bank-supported digital currency in 2024 as the digitization of economies races ahead. Japanese internet bank GMO Aozora Net Bank is said to issue the yen-pegged digital currency — backed by bank deposits — under the ticker DCJPY by July 2024, Reuters has learned. The turnover of DCJPY will be made using a blockchain network developed by DeCurret, a Japan-licensed cryptocurrency exchange acquired by Amber Group in early 2021. You might also like: SBI Holdings and TradeFinex partner to drive blockchain adoption in Japan Initially, it is planned that telecommunication firm Internet Initiative Japan will use the digital currency for settlement of clean energy certificates. However, DeCurret reportedly also discussed with other Japanese giants, such as Mitsubishi UFJ Financial Group Inc, to tap the technology. Japan’s d...

LINK outperformed most cryptocurrencies in September, but the recent correction raises questions on the sustainability of the bullish momentum. Since September, Chainlink (LINK) price has gained more than 25%, outperforming Bitcoin (BTC), Ethereum (ETH) and most altcoins. Currently, the project is the leading decentralized blockchain oracle solution and ranks 15th in terms of market capitalization when excluding stablecoins.  In September, LINK's price surged by an impressive 35.5%, but in the month-to-date performance for October, LINK has faced a 10% correction. Investors are concerned that breaking the $7.20 support level may lead to further downward pressure, potentially erasing all the gains from the previous month. Chainlink (LINK) 12-hour price index, USD. Source: TradingView It's worth noting that the closing price of $8.21 on Sept. 30 marked the highest point in over 10 weeks, but when looking at the bigger picture, Chainlink's price still remains 86% below its al...

The collaboration will have both parties researching the offline capabilities of the CBDC issued by South Korea’s central bank. Tech giant Samsung Electronics has reportedly partnered with the South Korean central bank to conduct research on central bank digital currency (CBDC) for offline payments . On May 15, South Korea’s central bank — Bank of Korea (BOK) — and Samsung signed a memorandum of understanding (MoU) for research on offline CBDCs, according to local media KBS World. The collaboration will have both parties researching the offline capabilities of CBDC issued by South Korea’s central bank. Samsung had also participated in the second phase of BOK’s 10-month CBDC simulation experiment research work, which dealt with retail CBDCs. The first stage of BOK’s CBDC research tested basic functions such as CBDC’s issuance, distribution, and redemption. Samsung Electronics and Bank of Korea sign a MoU for CBDC research on offline payments. Source: samnews24.com The latest MOU is...