The investment arm of major cryptocurrency exchange KuCoin is moving to support new stablecoin initiatives by backing a Chinese yuan-pegged stablecoin issuer. KuCoin Ventures has led a $10 million investment in stablecoin issuer and blockchain-based payment service provider CNHC. Announcing the news on March 16, KuCoin Ventures said that the funding round included some prominent
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India
Demand for mortgages increased for the second straight week, despite some volatility in mortgage rates. Total application volume rose 6.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. related investing news ‘Big Short’ trader Danny Moses warns Silicon Valley Bank collapse will expose more trouble Stephanie Landsman
Illinois drew a fresh rating upgrade Tuesday for making further progress in tackling its chronic fiscal sore spots. Moody’s Investors Service raised Illinois’ general obligation and sales tax-backed Build Illinois bonds by one notch to A3 from Baa1 and assigned a stable outlook. The upgrade also lifts the Metropolitan Pier & Exposition Authority’s rating one
Technology start-ups are scrambling to deal with tighter regulation and the influence of larger banks that are set to replace the informal financial relationships and close personal connections that have characterised Silicon Valley Bank’s dealings with the sector. Young tech companies, which account for a large part of SVB’s deposits, were making plans to take