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DBS Bank launches blockchain-powered treasury tokens pilot

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DBS Bank, in partnership with Ant Group, has unveiled a new international blockchain-based treasury solution aimed at transforming cross-border transactions and treasury management. This innovative solution leverages blockchain technology to enhance the efficiency and security of financial operations for businesses globally.

The newly introduced solution is designed to streamline and automate treasury functions, reducing the complexity and costs associated with cross-border payments and currency exchanges. By utilizing blockchain, the platform ensures real-time transaction processing, improved transparency, and reduced risk of fraud.

The collaboration between DBS Bank and Ant Group combines the strengths of both organizations: DBS’s extensive banking expertise and Ant Group’s advanced blockchain technology. The solution offers features such as real-time settlement, automated reconciliation, and enhanced liquidity management, providing businesses with greater control over their financial operations.

The launch of this blockchain-based treasury solution is expected to significantly impact the global financial landscape by addressing common challenges faced in international transactions. These challenges include high transaction fees, delays in payment processing, and lack of transparency.

DBS Bank and Ant Group’s initiative reflects a growing trend towards adopting blockchain technology to modernize financial services and improve operational efficiency. The solution is poised to set a new standard for how businesses manage their international treasury functions and engage in cross-border financial activities.

As the adoption of blockchain technology continues to expand, stakeholders and industry experts will be monitoring the effectiveness of this new solution and its implications for the future of financial transactions and treasury management.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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