The Central Bank of Jordan is closer to its next step toward a retail central bank digital currency (rCBDC) with the completion of an International Monetary Fund (IMF) technical report on the country’s markets. The IMF conducted a three-month mission last year to assist the bank with preparations for a CBDC feasibility report. The IMF released its report Feb. 23. Working between July and September 2022, the IMF gave the country’s existing retail payment market a largely positive review, calling it well-integrated. Two nonbank payment service providers (PSPs) have “generally accessible and appropriate product” and the country has high smartphone …

Solana Spaces will close down its two Solana (SOL)-themed, community-oriented retail stores in New York City and Miami at the end of the month, as the physical stores didn't onboard as many users as it initially anticipated. Solana Spaces tweeted the news on Feb. 21 sharing a note from its founder, Vibhu Norby, explaining the reasons behind the store shutdowns. The following is a note from our founder, @vibhu. Dear @solanaspaces community, We’ve made the difficult decision to sunset our stores in NYC and Miami by the end of February, and to pivot our Solana onboarding efforts into digital products …

Cryptocurrency exchange Huobi Global is seeking a license in Hong Kong, as the Chinese special administrative region considers new licensing and regulatory moves that would allow them to serve retail customers. The new framework, which requires crypto exchanges to register with the Hong Kong Securities and Futures Commission (SFC), would allow the exchange to expand its services to the city. Huobi also plans to open a new exchange named Huobi Hong Kong that would concentrate on institutional and high-net-worth individuals, according to a tweet thread by Justin Sun. The SFC has recently opened the new Hong Kong licensing proposals for …

The South African grocery retailer Pick n Pay is expanding its Bitcoin (BTC) coverage to all 1,628 stores across the country following a three-month pilot testing phase in 39 locations. As part of its nationwide rollout, store customers will be able to pay for items using cryptocurrency via smartphone apps or by scanning a QR code and accepting the South African rand's conversion rate at the time of payment. Good news, everyone! CryptoQR is now active at all Pick-n-Pay stores across South Africa, including PnP express and clothing shops! You can also buy Airtime and Electricity, Plane and Bus tickets, …

The retail industry is one of the most important sectors of the United States economy. Unfortunately, the COVID-19 pandemic has left the trillion-dollar retail sector vulnerable to in-store theft. Findings from the National Retail Federation’s 2022 Retail Security Survey show that retail losses from stolen goods increased to $94.5 billion in 2021, up from $90.8 billion in 2020. Some retailers also have to lock away certain products to prevent theft, which may lead to decreased sales due to consumers’ inability to access goods. Retailers look toward blockchain to solve retail theft Given these extreme measures, many innovative retailers have started …

Financial services providers in Hong Kong are already taking the first steps to provide services to retail investors, according to local reports. Brokers and fund managers in the region have reportedly asked for advice on licensing requirements ahead of new legislation. Lawmakers in Hong Kong passed an amendment to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) in December 2022, which aligns with the region’s recent stance on broadening the possibility for crypto trading. The amendment introduces a new licensing scheme for virtual asset service providers, which will allow retail investors the ability to trade in virtual assets. Currently, virtual …

Some non-whale Bitcoin (BTC) investors seem to have had zero issues with the cryptocurrency bear market as well as fear, uncertainty and doubt (FUD) around the fall of FTX, on-chain data suggests. Smaller retail investors have turned increasingly bullish on Bitcoin and started accumulating more BTC despite the ongoing market crisis, according to a report released by the blockchain intelligence platform Glassnode on Nov. 27. According to the data, there are at least two types of retail Bitcoin investors that have been accumulating the record amount of BTC following the collapse of FTX. The first type of investors — classified …

The Central Bank of Russia (CBR) is looking at ways to integrate crypto assets and blockchain technology into its local financial system amid a pile-on of global financial sanctions. In a Telegram post by the CBR on Nov. 7, the central bank shared a public consultation report titled "Digital Assets in Russian Federation." It considers how the sanction-hit state may possibly open up its domestic market to foreign issuers of digital assets — particularly those from “friendly countries.” Other areas of focus in the report are digital asset regulation, retail investor protections, digital property rights related to smart contracts and …

Fidelity Investments is expanding retail access to commission-free cryptocurrency trading services — a move designed to recognize growing mainstream interest in digital assets. According to CNBC, Fidelity’s new crypto offering will be powered by its subsidiary Fidelity Digital Assets. Dubbed Fidelity Crypto, the new service will give retail investors the ability to buy and sell Bitcoin (BTC) and Ether (ETH) with minimal fees. Instead of a commission, Fidelity Crypto will incorporate a 1% spread into every trade. In financial markets, a spread represents the difference between the buy and sell prices quoted for an asset. Although Fidelity didn’t specify a …

Crypto and stock trading platform Robinhood highlighted lagging cryptocurrency revenue in the third quarter of 2022, though the results will do little to dampen its ambition to serve the market, its CEO says. The trading platform announced its third-quarter results on Nov. 2, with the Robinhood executives pointing to a 12% quarter-on-quarter decrease in Monthly Active Users (MAU) and a 24% quarter-on-quarter drop in notional volume as two of the main drivers behind a 12% fall in crypto revenue, reaching $51 million. In a results filing, the company attributed the fall in active users and trading volume as “customers continued …

The Monetary Authority of Singapore (MAS) has wrapped up the first stage of its Project Orchid examination of a retail central bank digital currency (CBDC). According to the white paper released on Oct. 31, there is no “urgent case” for a retail CBDC in Singapore, but the study envisioned the infrastructure required in case a need arose. It also conceptualized a new model for digital currency — purpose-bound money — and pulled large Singaporean banks and government agencies into the research with a series of trials. Singaporean consumers do not need a retail digital dollar at present because of the …

The founder and CEO of cryptocurrency exchange FTX, Sam Bankman-Fried has backed the idea of knowledge tests and disclosures to protect retail investors but said it shouldn’t just be crypto-specific. Bankman-Fried tweeted his thoughts in response to an idea floated by the Commodities Future Trading Commission (CFTC) commissioner Christy Goldsmith Romero on Oct. 15, saying the establishment of a “household retail investor” category for derivatives trading could give greater consumer protections. Romero said due to crypto, more retail investors are entering the derivatives markets and called for the CFTC to separate these investors from professional and high-net-worth individuals and have …