Latest news with #DigitalAsset
Crypto Insight
5 days ago
- Business
- Crypto Insight
Malaysia launches Digital Asset Hub to test stablecoin, programmable money
Malaysia has launched its Digital Asset Innovation Hub initiative, which will serve as a regulatory sandbox, enabling fintech and digital asset firms to test new technologies under the oversight of the country's central bank. On Tuesday, Prime Minister Anwar Ibrahim announced the initiative during the Sasana Symposium 2025 in Kuala Lumpur, according to a report by The Business Times. He described the hub as the 'beginning of a new chapter' for Malaysia's digital economy. Ibrahim said the sandbox will allow use cases such as programmable payments, ringgit-backed stablecoins and supply chain financing to be explored in a controlled environment. 'Our ambition is clear — to align infrastructure, policy and talent across both the public and private sectors in pursuit of a digitally capable, future-ready Malaysia,' said Anwar. Malaysia eyes fintech lead The hub sits at the heart of Malaysia's broader push to become a regional fintech hub. During the event, the governor of the Central Bank of Malaysia, Abdul Rasheed Ghaffour, said the country needs to modernize its financial infrastructure to remain relevant in a rapidly evolving ecosystem. He cited ongoing efforts such as the modernization of the Rentas payment system, cross-border payment connectivity and exploration of asset tokenization as essential to building long-term resilience. In April, Anwar met with Binance founder Changpeng Zhao. Despite Zhao's legal issues and a 2021 reprimand from Malaysian authorities, Binance later entered the market through a minority stake in MX Global, which operates under local regulatory oversight. Singapore takes a different path Malaysia's digital asset sandbox comes as Singapore is tightening its reins. On May 30, the Monetary Authority of Singapore (MAS) announced that any firm or individual providing overseas digital token services without proper licensing must cease operations. The country set a June 30 deadline for local crypto service providers to stop offering digital token (DT) services to overseas markets unless licensed under the Financial Services and Markets Act 2022. The MAS said there will be no transitional arrangements; firms must obtain a license or cease operations. Under Section 137 of the Act, any Singapore-based entity offering DT services abroad is presumed to operate from Singapore and must comply with licensing rules. Violators face fines of up to 250,000 Singaporean dollars ($200,000) and up to three years in prison. Source:
Finextra
27-05-2025
- Business
- Finextra
Digital Asset appoints Jonathan Isaac as chief marketing officer
Digital Asset, pioneers in institutional blockchain infrastructure and creators of the Canton Network, today named Jonathan Isaac as Chief Marketing Officer. 0 Isaac will lead global marketing efforts across brand, product marketing, and communications, with a focus on growing awareness and adoption of the Canton Network, an emerging infrastructure layer for financial markets. 'What drew me to Digital Asset is simple: they've built something real,' said Isaac. 'The Canton Network is already live, and I see it as a game-changer for global finance. My time at CoinMarketCap gave me a front-row seat to everything happening in crypto, and this feels like the next chapter. I'm excited to join a world-class team with exceptional technology, partners, and investors, and help bring this story to the right people.' 'Jonathan has developed a reputation as a bold, visionary leader with a proven ability to scale brands and develop communities,' said Yuval Rooz, Co-Founder and CEO of Digital Asset. 'He brings the expertise, energy, and creativity we need to take our story to the world and show why what we've built matters.'' Isaac brings over two decades of experience in brand transformation, product marketing, and creative leadership. Most recently, he served as CMO at CoinMarketCap, the world's most visited crypto website. He was previously Head of Marketing at the crypto exchange Gemini. Earlier in his career, Isaac held senior strategy and marketing roles at global agencies and media companies, including JWT, Anomaly, Digitas (LBi), Lagardère, Goodby Silverstein and Barbarian, transforming marketing for brands such as the BBC, Sony, HP, GE, Coca-Cola, Disney, J&J, and Metlife. He has also advised fintechs, biotech firms, and luxury brands as a fractional CMO focused on brand reinvention and growth.
Yahoo
20-05-2025
- Business
- Yahoo
Is XRP (Ripple) a Millionaire-Maker Cryptocurrency?
XRP's value is soaring after a series of regulatory wins in the U.S. Can the cryptocurrency maintain its momentum over the long term? 10 stocks we like better than XRP › If you'd bought $10,000 worth of XRP (CRYPTO: XRP) back in 2021, your position would be worth a jaw-dropping $118,000 today, highlighting the life-changing potential of cryptocurrency investing. The S&P 500 would have returned a comparably measly $20,000 during that same time frame. However, with its market cap now exceeding $138 billion, XRP will find it more challenging to maintain the same explosive momentum as in the past. Let's explore whether recent regulatory wins and increasing institutional adoption could be the key to the cryptocurrency's long-term success. While XRP is still down roughly 38% from its all-time high of $3.84 (reached in 2018), momentum is picking up -- with the token's price up more than double during the past six months. It isn't hard to see why investors are getting optimistic again. Under the Trump administration, the U.S. government has demonstrated a much softer stance toward the industry. In March, President Donald Trump signed an executive order directing the U.S. to create a Strategic Bitcoin Reserve and Digital Asset Stockpile to store cryptocurrencies, which the government typically seizes in civil or criminal asset forfeitures. This move would not only help to legitimize these assets, but it could also reduce selling pressure; both the Reserve and the Stockpile would holding the cryptos rather than liquidate them for cash. The cryptocurrency industry has also enjoyed recent wins on the regulatory front. In March, the Securities and Exchange Commission (SEC) decided to drop its appeal against a favorable ruling for XRP's developer, Ripple Labs, which established that its tokens are not securities when sold to retail investors on public exchanges. While Ripple still faces fines related to its sales of XRP to institutional investors, this decision removes a significant overhang for XRP. XRP's long-term success will depend on its mainstream adoption, both as a financial asset and in real-world use cases. The good news is that it has some advantages over its biggest rivals. While Bitcoin was created to function as a store of value and medium of exchange, XRP targets the potentially lucrative market of international payments, currently served by arguably archaic platforms such as the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which was established in 1973. Although Ripple and XRP are unlikely to replace SWIFT anytime soon, they could provide an alternative for small companies and individuals who prioritize speed and low costs. According to Business Insider, an outgoing international wire transfer currently costs about $15 to $30 (settling in as long as five days). Using different currencies could add further costs and complexities. XRP solves this problem by acting as a bridge. If someone in the U.S. wants to transfer dollars to Japan (where the yen is used), they could convert their dollars to XRP and use that XRP to buy the Japanese yen. To be fair, pretty much all cryptocurrencies can fill this role, but XRP sets itself apart with its extremely low fee of 0.00001 XRP per transaction, which is a fraction of a cent. For context, Bitcoin currently costs about $1.50 per transaction, while Ethereum costs $0.25 per transaction. These numbers can spike dramatically depending on network traffic. With a token price of just $2.38 each at the time of writing, XRP looks extremely cheap compared to other leading cryptocurrencies like Bitcoin and Ethereum, which trade for $105,500 and $2,520, respectively. But this tells only half the story. With a market cap of $138 billion, XRP is already the world's fourth-largest crypto. The asset's immense size means it is unlikely to repeat the explosive multibagger returns it enjoyed during the past five years. The larger something is, the harder it is to grow. That said, XRP's recent regulatory wins and potential for mainstream adoption in the international payments industry could set it up for continued market-beating success. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and XRP. The Motley Fool has a disclosure policy. Is XRP (Ripple) a Millionaire-Maker Cryptocurrency? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Is XRP (Ripple) a Millionaire-Maker Cryptocurrency?
XRP's value is soaring after a series of regulatory wins in the U.S. Can the cryptocurrency maintain its momentum over the long term? 10 stocks we like better than XRP › If you'd bought $10,000 worth of XRP (CRYPTO: XRP) back in 2021, your position would be worth a jaw-dropping $118,000 today, highlighting the life-changing potential of cryptocurrency investing. The S&P 500 would have returned a comparably measly $20,000 during that same time frame. However, with its market cap now exceeding $138 billion, XRP will find it more challenging to maintain the same explosive momentum as in the past. Let's explore whether recent regulatory wins and increasing institutional adoption could be the key to the cryptocurrency's long-term success. While XRP is still down roughly 38% from its all-time high of $3.84 (reached in 2018), momentum is picking up -- with the token's price up more than double during the past six months. It isn't hard to see why investors are getting optimistic again. Under the Trump administration, the U.S. government has demonstrated a much softer stance toward the industry. In March, President Donald Trump signed an executive order directing the U.S. to create a Strategic Bitcoin Reserve and Digital Asset Stockpile to store cryptocurrencies, which the government typically seizes in civil or criminal asset forfeitures. This move would not only help to legitimize these assets, but it could also reduce selling pressure; both the Reserve and the Stockpile would holding the cryptos rather than liquidate them for cash. The cryptocurrency industry has also enjoyed recent wins on the regulatory front. In March, the Securities and Exchange Commission (SEC) decided to drop its appeal against a favorable ruling for XRP's developer, Ripple Labs, which established that its tokens are not securities when sold to retail investors on public exchanges. While Ripple still faces fines related to its sales of XRP to institutional investors, this decision removes a significant overhang for XRP. XRP's long-term success will depend on its mainstream adoption, both as a financial asset and in real-world use cases. The good news is that it has some advantages over its biggest rivals. While Bitcoin was created to function as a store of value and medium of exchange, XRP targets the potentially lucrative market of international payments, currently served by arguably archaic platforms such as the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which was established in 1973. Although Ripple and XRP are unlikely to replace SWIFT anytime soon, they could provide an alternative for small companies and individuals who prioritize speed and low costs. According to Business Insider, an outgoing international wire transfer currently costs about $15 to $30 (settling in as long as five days). Using different currencies could add further costs and complexities. XRP solves this problem by acting as a bridge. If someone in the U.S. wants to transfer dollars to Japan (where the yen is used), they could convert their dollars to XRP and use that XRP to buy the Japanese yen. To be fair, pretty much all cryptocurrencies can fill this role, but XRP sets itself apart with its extremely low fee of 0.00001 XRP per transaction, which is a fraction of a cent. For context, Bitcoin currently costs about $1.50 per transaction, while Ethereum costs $0.25 per transaction. These numbers can spike dramatically depending on network traffic. With a token price of just $2.38 each at the time of writing, XRP looks extremely cheap compared to other leading cryptocurrencies like Bitcoin and Ethereum, which trade for $105,500 and $2,520, respectively. But this tells only half the story. With a market cap of $138 billion, XRP is already the world's fourth-largest crypto. The asset's immense size means it is unlikely to repeat the explosive multibagger returns it enjoyed during the past five years. The larger something is, the harder it is to grow. That said, XRP's recent regulatory wins and potential for mainstream adoption in the international payments industry could set it up for continued market-beating success. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and XRP. The Motley Fool has a disclosure policy. Is XRP (Ripple) a Millionaire-Maker Cryptocurrency? was originally published by The Motley Fool
Malay Mail
08-05-2025
- Business
- Malay Mail
Government forms Digital Asset and AI Advisory Council to drive digital economy
KUALA LUMPUR, May 8 — The government has established the Digital Asset and Artificial Intelligence (AI) Advisory Council, a strategic entity that will be the main driver of the country's digital economic growth, said the prime minister's senior press secretary. Tunku Nashrul Abaidah said the move is in line with the rapid development of digital assets and AI technologies, which are now among the main catalysts for global economic growth and a determinant of a country's competitiveness. 'The council will play a role in providing strategic advice and guidance to ensure that Malaysia is able to harness these high-impact technologies and compete at the forefront of the global digital economic landscape,' he said during a Prime Minister's Office briefing, which was broadcast live on Facebook today. Tunku Nashrul explained that the council will comprise members from various backgrounds including local and foreign experts, industry players, academics, and policy thinkers. He said this is to ensure that the approach taken is not only in line with international best practices but also suitable for Malaysia's context and needs.
