🚀 Bitcoin's popularity soars in Argentina & Venezuela! 📈 ~ CEOM Coin

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💰 Singapore's central bank & JPMorgan's blockchain prototype

Singapore's central bank, the Monetary Authority of Singapore (MAS) and investment banking giant JPMorgan have developed a blockchain prototype for cross-border payments.

"There is growing evidence now that blockchain-based payments networks are able to enhance cost efficiencies and create new opportunities for businesses," said Sopnendu Mohanty, chief fintech officer of MAS.

In an effort to accelerate efforts by other central banks in conducting similar trials, MAS states that it will be making technical specifications of their own trial publicly available.

TheBlockCrypto

🌟 Argentina's Central Bank "accidentally" made Bitcoin more popular 🥳

Earlier this month, Argentina's central bank formally banned Bitcoin (BTC) & other cryptocurrency purchases using credit cards.

Shortly thereafter, Bitcoin weekly trade volume on peer-to-peer platform Localbitcoins was reported to have hit an all-time-high of 19.4 million pesos (ARS), equivalent to 30 BTC.

In the same period, Venezuela also recorded an all-time-high weekly Bitcoin trading volume of approximately 627 BTC, likely fueled by economical instabilities of the region.

CoinTelegraph

🏛 Tunisia's central bank tests paper-backed digital currency

Central Bank of Tunisia has announced that it will test the roll-out of it's national currency onto a blockchain.

This makes Tunisia the first country in the world to announce the transfer of part of its money supply to electronic form. It's citizens will be able to convert physical cash for E-dinars which are 100% backed by the national currency.

Some of the benefits listed on the issuance of this central bank digital currency are lowered issuance costs, transparency as well as traceability among others.

TheDailyHodl