Goldilocks’ Global Economic News Thursday Evening 6-13-24
Multiple Chinese banks announced their involvement in the mBridge cross-border central bank digital currency (cross-border CBDC) trials after the initiative launched its minimum viable product (MVP) last week. At least nine Chinese institutions are involved in the project, although that figure might now expand with the MVP. | Ledger Insights
Stablecoin issuer Paxos cuts 20% of its staff as PayPal receives Trust charter | Ledger Insights
Stablecoin issuer Paxos sent an email to staff saying it’s cutting its workforce by 65 people or around 20% of its staff. That’s according to The Block and Bloomberg, who viewed a company-wide email that Paxos confirmed. The move comes despite a strong balance sheet. Two weeks ago we reported that PayPal received a New York trust charter for digital assets, which it has not yet formally announced. The two pieces of news may be related.
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Introducing Ripple USD (RLUSD) | The Crypto Basic
A 1:1 USD-backed stablecoin, offering transparency and stability on the XRP Ledger and Ethereum. Coming later this year.
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Worldwide – Oil, Gas & Electricity – Another Major European Bank Withdraws From Fossil Fuel Financing | Mondaq
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United States – Renewables – Treasury Department, IRS Issue Section 45Z Clean Fuel PTC Registration Guidance | Mondaq
