Ripple, Visa join HK CBDC pilot, Huobi accusations, GameFi token up 300%: Asia Express

Hong Kong partners with 16 business to construct CBDCs

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On May 18, the Hong Kong Monetary Authority (HKMA) announced the launch of the cyber Hong Kong dollar pilot task. According to authorities, 16 business from the financial payment and innovation sectors will carry out the very first round of trials this year on the feasibility of a Hong Kong dollar reserve bank digital currency (e-HKD). Companies included in the pilot consist of Alibaba Groups Alipay Financial, Mastercard Asia, Ripple Labs, Visa and HSBC.

The digital Hong Kong dollar will start off with six possible use cases; extensive payments, programmable payments, offline payments, tokenized deposits, Web3 transaction settlements and tokenized property settlements. The CBDC is arranged for a three-stage approach, with the novel pilot program being a crucial element of the second stage.

The HKMA has not yet decided whether to formally launch the CBDC. It anticipates to share the results of the trials at Hong Kong Fintech Week 2023 in Q4. HKMA CEO Yue Wai-man commented:

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The exchange states that its proof-of-reserves increased from 223% on December 20, 2022, to 246% on April 3, 2023, as it finished listings for 105 coins, bringing the total to over 500 listings. The exchanges native token, BGB, rallied by 120% throughout the quarter, to $0.47 at the time of publication.

Biget is committing $10 million over 5 years in an unique Blockchain4Youth initiative to offer blockchain courses and certifications through Bitget Academy and will host school lectures in partnership with universities worldwide. In April, the exchange received its regulatory license in Lithuania, permitting it to offer crypto services both in and from the Baltic country.

” We plan to engage with Li Wei to negotiate a refund and arrange for the destruction of his remaining HT tokens. This action is not just a matter of justice however also serves the best interests of everyone in the HT DAO community.”.

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Bitgets comfortable run in Q1.

In October 2022, Leon Li and fellow co-founder Du Jun reportedly offered 100% of the exchanges stake to a financial investment company managed by Justin Sun. If youre curious, this wasnt the first “irregular” action surrounding the Huobi token either …

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李伟可能并没有意识到 ， 他的所作所为 ， 一直在挥霍他的哥哥辛苦建立多年在整个社区的威望与信任 。 火币作为一个已经成立了十年的平台 ， 在重返三大的路上 ， 对于此行为 ， 绝不会姑息 ， 和稀泥 ， 不会让任何一个真正在现货买入HT的人失望 ！ 我们一定负责到底 ！ https://t.co/52PCUdpVrs— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 16, 2023.

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Senior company representatives at the unveiling of Hong Kongs second stage of CBDC tests (HKMA).

Back in October 2021, Mastercard said that it would be preparing its payment infrastructure for combination with CBDCs. Similarly, Visa thinks that stablecoins and CBDCs will play meaningful roles in payments and has an ongoing blockchain interoperability project associated with the matter.

On May 18, the Hong Kong Monetary Authority (HKMA) announced the launch of the cyber Hong Kong dollar pilot job. According to authorities, 16 business from the financial payment and innovation sectors will conduct the first round of trials this year on the feasibility of a Hong Kong dollar main bank digital currency (e-HKD). It anticipates to share the results of the trials at Hong Kong Fintech Week 2023 in Q4. If youre curious, this wasnt the very first “abnormal” action surrounding the Huobi token either …

The devs mentioning things are still moving comes after community speculation that the video game had ceased development as the rate of SQUAD dropped on also relatively no news. The game formerly exceeded 100,000 downloads in January.

Zhiyuan Sun.
Zhiyuan sun is a reporter at Cointelegraph focusing on technology-related news. He has a number of years of experience composing for major monetary media outlets such as The Motley Fool, Nasdaq.com and Seeking Alpha.

On May 16, Justin Sun, the creator of Tron blockchain and reasonably new de-facto owner of cryptocurrency exchange Huobi Global, released a series of allegations versus Wei Li, the brother of Huobi Global co-founder Leon Li. In his declaration, Sun implicated Wei Li of “getting millions of Huobi (HT) tokens through “irregular ways” at zero expense and of “regularly selling these HT tokens and cashing out.”.

Superpower Squads mysterious rally on May 17 (CoinMarketCap).

” Although the HKMA has not chosen whether or when the CBDC will be launched, we are pleased to release the Cyber Hong Kong Dollar Pilot Scheme. This is an excellent chance for the HKMA to sign up with hands with the industry to explore innovative use cases and get ready for the possible launch of the CBDC in the future”

According to its first quarter upgrade released on May 17, cryptocurrency exchange Bitget reached $59 billion and $658 billion in spot and futures traded, respectively, representing development rates of 8% and 27% from Q4 2022. In other metrics, the book worth of the exchanges Protection Fund surged to $380 million from $300 million during the same duration, assisted by a bullish rally in the cost of significant cryptocurrencies.

No news is excellent news as GameFi token rises over 300%.

李伟可能并没有意识到 ， 他的所作所为 ， 一直在挥霍他的哥哥辛苦建立多年在整个社区的威望与信任 。 火币作为一个已经成立了十年的平台 ， 在重返三大的路上 ， 对于此行为 ， 绝不会姑息 ， 和稀泥 ， 不会让任何一个真正在现货买入HT的人失望 ！ 我们一定负责到底 ！ https://t.co/52PCUdpVrs— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 16, 2023.

” I hope Huobi can supply evidence.

Superpower Squad is by no means the first blockchain job to have high price variance for no particular reason. On April 14, shares of Singaporean Bitcoin (BTC) mining operator SAI.TECH surged by over 360% in one day to a high of $7.42 prior to returning much of its gains. Like Superpower Squad, SAI.TECH had no product statements either before or after the wild cost action.

On May 17, the token of NFT multiplayer online fight arena video game Superpower Squad (SQUAD) surged by over 300% to a high of $0.017 each within a single day prior to its pullback.

Sun declares that “Li Wei has actually not made any considerable contributions to our neighborhood.” and would therefore seek disgorgement of any profits connected to Wei Lis sale of the tokens and send them to a null address for a token burn. In action, Weis bro Leon Li composed:.

Bitgets website traffic has likewise grown considerably during the same period (Bitget).

On May 17, the token of NFT multiplayer online battle arena video game Superpower Squad (SQUAD) rose by over 300% to a high of $0.017 each within a single day prior to its pullback. No product news was associated with the development, and the tokens price has actually primarily been on a losing streak given that March. Superpower Squads developers tell Asia Express it has two video game modes in advancement. The first is a “Zombie Crisis” survival mode where the leading surviving gamers would receive NFT props (items used to eliminate opponents) upon round completion. In the 2nd game mode, players would get distinct enthusiasts (short-lived powers) depending upon the clan structure of NFT heroes, with each clan requiring one NFT hero of legendary rarity.

Huobis most current drama.