Kazakhstan has officially launched the digital tenge, bringing it into the country's retail market. This and more news is in this handy daily digest so you're always up to date with the latest developments happening within the crypto world.
Kazakhstan launches its CBDC digital currency
📍The digital tenge has been officially integrated into the country's retail market. Kazakhstan is ushering in a new financial era within its territory, with the arrival of the digital tenge, the country's CBDC currency, issued by the central bank.
local media reported On Wednesday, the first transaction was made using the digital tenge, following the announcement of its integration into retail and online trading.
According to these reports, Kazakhstan's CBDC digital currency is being launched in stages and represents the third form of national currency, in addition to cash and cashless.
In this first stage, citizens can use the digital tenge to make payments in stores and online. In addition, the Kazakhstan CBDC has been integrated into existing payment cards, in collaboration with Visa and Mastercard, to facilitate its use from anywhere, through banks' payment applications and other popular ones in the country, such as Apple Pay and Samsung Pay.
Upcoming developments announced by the Central Bank of Kazakhstan for the digital tenge include a settlement platform, programmable payments with smart contracts, and offline payments.
SEC Won't Decide on Hashdex and Grayscale ETFs This Year
📍The US securities regulator has extended its review of Hashdex's proposed Bitcoin Spot ETF and Grayscale's Ethereum Futures Trust applications until 2024. According to Bloomberg, both decisions have been postponed until next year, with the next likely date when the regulator could rule on these investment vehicles being January 1.
According to Bloomberg ETF analyst James Seyffart, nothing in the SEC's recent actions is surprising. The market I expected the regulator has again postponed its decision on whether or not to approve a Bitcoin spot ETF.
The exponential growth of stablecoins in the last 5 years
📍Stablecoin market cap has increased by over 12.000% since 2018. According to data from the IntoTheBlock platform, stablecoins have grown from a total market value of $1.000 billion in 2018 to over $120.000 billion in the past 5 years.
At the time of writing, the stablecoin market cap stands at over $126.700 billion.
USDT, the stablecoin issued by Tether Limited, continues to lead this market, with a total value of over $87.000 billion, representing almost 70% of the stablecoin market share. It is followed by USDC from Circle and DAI, a decentralized stablecoin governed by MakerDAO, with a market cap of $24.000 billion and $5.000 billion, respectively.
Based on the platform’s data, it is evident that stablecoins have become a substantial part of the crypto industry.
Continue reading: Tech giants join Infura's decentralized network: Microsoft, Tencent and more
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