SBI Holdings Integrates

SBI Holdings Integrates Ripple Technology into Japanese ATMs

Japanese financial giant SBI Holdings has announced plans to integrate MoneyTap, a payment application based on technology from fintech startup Ripple, into ATMs operated by various Japanese banks.

The solution is designed to make it easier for consumers to access and manage funds via ATM, regardless of bank affiliation. It is also expected to help financial institutions reduce the cost of operating ATMs.

"Currently, each bank uses its own ATM application, but with a common web application, the same ATM can be used as a multibank jointly managed ATM," SBI Holdings said.

The company launched the MoneyTap app on Ripple technology without using an XRP token last year.

Research: Central Banks Don't Want to Issue Their Own Cryptocurrencies on Blockchain

Central banks in 46 countries are distrustful of the blockchain and are considering issuing their own cryptocurrency based on a limited form of DLT, according to a new study.

Backed by the Bank for International Settlements (BIS) and the European Central Bank (ECB), Central Banking conducted a survey of central banks in 46 countries regarding government cryptocurrencies. As it turned out, 65% of respondents are actively exploring the possibility of issuing their own digital currency, but only one Central Bank plans to use blockchain as a basis.

According to the researchers, the "small African central bank" said it would consider using blockchain "only if the technology is recognized as the best platform available." The publication did not disclose the name of this bank, as well as other 45 organizations participating in the survey.

The researchers noted that "one North African central bank" has reported problems with the security and scalability of the blockchain. Most of the Central Banks exploring the concept of a state cryptocurrency have no plans to release it yet. At the same time, 71% of respondents said they would consider issuing their own cryptocurrency based on DLT - a broader category of network architectures.

DLT includes closed and managed networks that are shared by multiple known and trusted nodes. In the survey, central bank officials mentioned the need for a forced compromise when it comes to decentralization. Distributed structures have created operational resilience against a single point of failure, however, privacy concerns exist as more parties have access to transaction data.

The publication also mentions a document released by the Bank of England last month which stated that using distributed networks has clear advantages, but also poses a serious problem for the existing monetary system. The same report stated that the UK Central Bank did not rule out the possibility that private cryptocurrencies could play an important role in the future of money.

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CME Records Record Interest in Bitcoin Options on Its Platform

Investor interest in Bitcoin options from the Chicago Mercantile Exchange (CME) reached record levels in the days after the halving, CoinDesk notes.

On Monday, when the miner reward fell from 12.5 BTC to 6.25 BTC, CME Bitcoin options trading volume reached $ 17 million, surpassing the previous high of $ 9.9 million on May 6. From that time on, he continued to grow.

On Tuesday, CME recorded a new record of $ 30 million, renewing it again the very next day for about $ 40 million. On Thursday, volumes were $ 36 million, up 2,000% from $ 1.7 million last week.

Open interest in the CME bitcoin options market has grown by more than 270% over the past week. The indicator also broke records every day this week and was $ 142 million at the close of trading on Thursday. Since the beginning of the month, growth has exceeded 1,000%.

According to the CEO of the crypto-analytical platform Skew, Emmanuel Go, the growth in volumes and active positions reflects an increase in the participation of institutional investors in cryptocurrency trading. Often, these investors use options as a tool to hedge their own positions in the spot or futures markets. For example, some firms with long positions took on put options to protect themselves from the risks of a sudden market drop amid halving.

In recent days, investors have also had reason to use hedging instruments under the influence of increased market volatility. Bitcoin dropped from $ 10,000 to $ 8,000 last weekend, but on Wednesday it almost completely recovered from the decline.

While activity on the CME has increased this week, the exchange makes a small contribution to the overall volume of the Bitcoin options market. Over 70% of the volume still comes from Panama's Deribit platform.