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Mastercard and Standard Chartered test tokenized deposit transaction

Mastercard and Standard Chartered have announced their participation in a sandbox trial in Hong Kong. The initiative aims to assess the feasibility of using central bank digital currencies (CBDCs) for cross-border payments, marking a significant milestone in the adoption of digital currencies within the financial industry.

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Mastercard and Standard Chartered have announced their participation in a sandbox trial in Hong Kong. The initiative aims to assess the feasibility of using central bank digital currencies (CBDCs) for cross-border payments, marking a significant milestone in the adoption of digital currencies within the financial industry.

The sandbox trial, facilitated by the Hong Kong Monetary Authority (HKMA), will provide a controlled environment for testing various use cases and technologies related to CBDCs. Mastercard and Standard Chartered will collaborate with other stakeholders to evaluate the efficiency, security, and scalability of CBDC-based payment solutions.

The involvement of Mastercard, a global leader in payment technology, and Standard Chartered, a leading international banking group, underscores the industry’s growing interest in digital currencies and blockchain technology. By participating in the sandbox trial, both companies aim to gain valuable insights into the potential benefits and challenges of integrating CBDCs into existing payment systems.

The trial will focus on exploring the use of CBDCs for cross-border remittances and trade finance, with the goal of enhancing the speed, transparency, and cost-effectiveness of international payments. If successful, CBDCs could revolutionize the way financial transactions are conducted, offering faster settlement times, lower transaction fees, and increased financial inclusion.

The sandbox trial in Hong Kong reflects the city’s commitment to fostering innovation and maintaining its position as a global financial hub. By providing a supportive regulatory environment for testing new technologies, Hong Kong aims to attract investment and talent in the rapidly evolving fintech sector.

The participation of Mastercard and Standard Chartered in the sandbox trial highlights the importance of collaboration between financial institutions and technology companies in driving the adoption of digital currencies. As the trial progresses, stakeholders will closely monitor developments and assess the potential implications for the future of cross-border payments and financial services.

In summary, the sandbox trial in Hong Kong represents a significant step forward in the exploration of CBDCs and their potential impact on the global financial system. With the participation of industry leaders like Mastercard and Standard Chartered, the trial is poised to provide valuable insights into the practical applications of digital currencies and pave the way for future innovation in the payments industry.

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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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