Latest news with #Hedera
Hamilton Spectator
19 hours ago
- Business
- Hamilton Spectator
Immutable Holdings Announces Strategic Update on HBAR Treasury Strategy Also Management Change
VANCOUVER, British Columbia, July 28, 2025 (GLOBE NEWSWIRE) — Immutable Holdings Inc. (Cboe Canada: HOLD; OTCQB: IHDLF) ('Immutable Holdings' or the 'Company'), a publicly-traded blockchain holding company, today announced a series of strategic initiatives, including the advancement of its HBAR corporate treasury approach, as well as senior management changes to support its evolving business. Strategic Update: Advancing a HBAR Treasury and Broader Digital Asset Opportunities In 2025, among other strategic initiatives, Immutable began developing a digital asset treasury approach focused on assets such as hbar tokens ('HBAR'), the native cryptocurrency of the Hedera network. This effort has been executed through Immutable Asset Management LLC ('IAM'), the Company's wholly owned subsidiary, which currently holds over 48 million HBAR as of the date of this release. IAM will continue to manage this position and may increase exposure to HBAR or other digital assets over time depending on capital priorities and market conditions. The Company believes HBAR is a high-quality digital asset with long-term potential, distinguished by the Hedera network's enterprise-grade performance, low transaction costs, carbon-negative operations, and growing adoption among enterprise and public sector applications. Hedera's predictable fee structure, consistent throughput, and decentralized governance model are additional factors that may make HBAR a compelling candidate for long-term digital asset treasury management. Jordan Fried, Chairman of Immutable and an original founding team member of the Hedera network, commented: 'We believe Hedera has laid the groundwork for institutional-grade blockchain infrastructure. In our view, its focus on energy efficiency, throughput, and real-world adoption positions HBAR as a promising asset for long-term strategic management.' Immutable has deep experience with the Hedera ecosystem. Through IAM, the Company previously launched and managed the Immutable HBAR Opportunity 1 Fund ('IHO1'), one of the first institutionally focused HBAR investment vehicles. That fund successfully completed in-kind HBAR distributions to investors in the fall of 2024 and was subsequently dissolved. However, IAM received its performance allocation in HBAR, which provided the catalyst to the Company's digital asset treasury. While digital asset treasury management represents a key pillar of the Company's strategic direction, Immutable also plans to continue to engage in a broader range of business activities, including evaluating opportunities to develop or participate in Hedera or other digital asset aligned ventures, partnerships, and technology-related initiatives. These activities are intended to support long-term value creation and operational growth for the Company. The Company continues to explore strategic opportunities in digital asset infrastructure, education, and Web3 technologies through its various subsidiaries and business lines. These include business assets such as HBAR Labs (owner of and ), , 1-800-Bitcoin, and others. The Company's strategy reflects a hybrid model that combines the pursuit of business development opportunities in the digital asset ecosystem with the management of its digital asset treasury. Management Update The Company is also pleased to announce the appointment of Melyssa Charlton as the new Interim Chief Executive Officer of Immutable, effective immediately. Melyssa has served as the Company's Interim Chief Financial Officer since November 15, 2021. With many years of experience in public accounting, she has provided services to both public and private sector clients reporting in Canada and the United States, over a broad range of industries, including technology, blockchain, financing, mining & exploration, oil & gas and air transportation. Melyssa obtained her Chartered Professional Accountant designation in 2015 and holds a Bachelor in Business Administration from the University of Nevada, Reno. Melyssa is currently the Managing Partner of Charlton & Company Chartered Professional Accountants, a full-service accounting firm in Vancouver, British Columbia. Melyssa steps into a role that was previously held by Jordan Fried, who remains Chairman and a significant stakeholder of Immutable. Contemporaneously with the foregoing, William 'Billy' Baxter has been appointed the new Interim Chief Financial Officer of Immutable. Over the past several years, Billy has served as the Company's Head of Corporate Development & Operations, leading various business development, operations, and digital asset treasury initiatives, including those relating to , Immutable Media, and IAM. Prior to joining Immutable, Billy was a Director at Mitsubishi UFJ Financial Group ('MUFG'), where he led U.S. investments for the bank's corporate venture fund, focusing on fintech and blockchain startups. He also led fintech business development and helped shape MUFG's blockchain commercialization strategy. Earlier roles at MUFG included product management for corporate banking and strategy and operations within internal audit. He began his career at KPMG LLP. Billy has been active in the digital asset ecosystem since 2013 and was an early contributor to the Hedera community through his 'Gossip Guy' YouTube channel. Jordan Fried commented: 'On behalf of Immutable's Board of Directors, I wish to congratulate Melyssa and Billy on their senior management appointments. Melyssa and Billy have already been instrumental in advancing Immutable's strategy and our broader digital asset initiatives. Their leadership will be critical as we continue to execute on our long-term vision. With deep institutional experience and hands-on involvement across our platform, I am confident they will guide Immutable through its next phase of growth. I look forward to continuing in my role as Chairman and working closely with the board and management to build on our momentum and deliver value to our shareholders.' About Immutable Holdings Inc. Immutable is a collection of businesses within the digital assets ecosystem on a mission to build businesses and products that increase the awareness, access, and adoption of digital assets. Founded by Jordan Fried, a founding team member of the multibillion-dollar Hedera Hashgraph network, Immutable engages in activities such as those involving product development, digital asset infrastructure, asset management, digital media, education and a corporate treasury strategy relating to digital assets including HBAR. For further information regarding Immutable, visit and see the Company's disclosure documents on SEDAR+ at . For media inquiries and further information, contact: Billy Baxter, Interim Chief Financial Officer and Head of Corporate Development & Operations Email: info@ CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains certain statements which constitute forward-looking statements or information under applicable securities laws, including without limitation, statements among other things, the timing and ability of the Company to execute its strategic initiatives and long-term vision (including, its growth-related objectives) and deliver long-term value for shareholders, as described above, the merits, possible benefits and long-term potential of investing in HBAR, and any statements relating to the management changes described above, which remains subject to the acceptance of Cboe Canada. Such forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors, some of which are beyond the Company's control, which could cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. These risks and uncertainties include, without limitation, changes to applicable laws or the regulatory sphere in which the Company operates, general economic and capital markets conditions, stock market volatility and the other risks disclosed in the Company's annual information form dated March 31, 2025 and other disclosure documents available on the Company's profile at . The foregoing is not an exhaustive list of factors that may affect the Company's forward-looking statements. Other risks and uncertainties not presently known to the Company and/or not specifically referenced herein could also cause actual results or events to differ materially from those expressed in its forward-looking statements. Although the Company believes that the forward-looking statements in this news release are reasonable, they are based on factors and assumptions, based on currently available information, concerning future events, which may prove to be inaccurate. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Yahoo
2 days ago
- Business
- Yahoo
HBAR Surges 12% Following Robinhood Listing, Making it Top Daily Gainer Among Top 20
Hedera's HBAR token surged nearly 12% on Friday, climbing to $0.2657 and outperforming every other top-20 cryptocurrency by daily percentage gain, according to CoinDesk Data. The rally followed an announcement by popular trading platform Robinhood that it had added support for the asset, increasing its exposure to a broad base of U.S. retail investors. The listing sent HBAR trading volumes sharply higher, with a mid-day breakout around 12:00 UTC on July 25 pushing prices through the $0.26 mark amid more than 713 million tokens traded in a single hour. That move established the $0.26 zone as near-term resistance, though the token continued to show strong upward momentum into Saturday. Hedera, unlike traditional blockchains, operates on a unique hashgraph consensus model that allows for high-speed, low-cost transactions at scale. It is designed to support decentralized applications, NFTs, and DeFi, and is widely known for its energy efficiency. The network's native token, HBAR, is used to pay for network services, stake for security, and incentivize node participation. One analyst believe HBAR could have more room to run. On Friday, crypto analyst ChartNerd said on X that HBAR could be setting up for a major move higher — but only if it clears a key technical hurdle. Specifically, he pointed to a resistance level near $0.35, which he said aligns with something called the Supertrend indicator — a commonly used tool that helps traders identify when an asset may switch from a downtrend to an uptrend. According to ChartNerd, if HBAR can close above that level with strong momentum, the token could enter what traders call 'price discovery' — a stage where there are no prior highs to act as barriers. He cited Fibonacci extension levels, which are often used to estimate future price targets during strong uptrends, suggesting that HBAR could potentially rise to $1.26 or even $3.30 in a bullish scenario. Technical Analysis Highlights According to CoinDesk Research's technical analysis data model, HBAR rose from $0.24 to $0.27 over the 24-hour period ending July 26 at 06:00 UTC, gaining nearly 12% on the day. The sharpest move happened around midday Friday, when a large spike in trading volume pushed prices above $0.26. After hitting that level, the token briefly pulled back, suggesting that $0.26 may act as a short-term ceiling. Support held firm around $0.24, with buying activity building steadily throughout the day and forming a clear upward trend. Traders are now watching for a possible move above $0.27, which could signal further gains into the weekend. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Globe and Mail
7 days ago
- Business
- Globe and Mail
SEALSQ Commits up to $30 Million in Cryptocurrency Treasury to Accelerate Post-Quantum Cryptography Initiatives
Geneva, Switzerland, July 22, 2025 (GLOBE NEWSWIRE) -- SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that focuses on developing and selling Semiconductors, PKI, and Post-Quantum technology hardware and software products, today announced a bold strategic move to strengthen its position in the blockchain and post-quantum space. The company is establishing a cryptocurrency investment fund with a commitment of up to $30 million to invest in digital assets as part of its cryptocurrency treasury strategy. This strategic allocation will directly support SEALSQ's ongoing post-quantum cryptography initiatives, reinforcing its mission of enabling secure, decentralized infrastructures that are resilient to emerging quantum threats. The cryptocurrency investment fund will serve as a strategic treasury vehicle and will be primarily allocated to a diversified portfolio of high-impact digital assets, including: QAIT – SEALCOINs native utility token designed to power its ecosystem of quantum-secure transactions and digital identity services. WeCan Token – Supports decentralized applications and tokenized asset solutions developed through SEALSQ partnerships. SEALSQ has already started investing in WeCan tokens. Hedera (HBAR) – A public distributed ledger known for its energy efficiency, enterprise-grade performance, and unique Hashgraph consensus algorithm. Bitcoin (BTC) – The most widely recognized and adopted cryptocurrency, serving as a long-term store of value. Ethereum (ETH) – A decentralized smart contract platform that pioneered programmable blockchain applications and supports a large ecosystem of dApps and developers. A cryptocurrency treasury strategy involves buying and holding cryptocurrencies, similar to how companies may invest in traditional assets like bonds or equities. This approach provides financial flexibility, potential hedging opportunities, and strategic alignment with emerging digital ecosystems and innovative agendas. 'This commitment of up to $30 million is not just a financial investment—it is a strategic and technological one,' said Carlos Moreira, Founder and CEO of SEALSQ. 'As quantum computing rapidly evolves, securing the future of decentralized technologies is no longer optional, it is essential. Through this cryptocurrency treasury initiative, we are reinforcing our commitment to a post-quantum world built on integrity, privacy, and decentralization.' The cryptocurrency treasury will also create synergies with the utility tokens currently in use across SEALSQ-affiliated companies and support the launch of new tokens that are being planned as part of the Group's broader Web3 and post-quantum blockchain strategy. SEALSQ is also actively testing the use of cryptocurrencies and utility tokens for machine-to-machine (M2M) transactions, enabled by its post-quantum secure semiconductors embedded into a wide range of connected objects. The long-term vision is that future technologies, such as autonomous vehicles, industrial robots, and smart city infrastructures, will be able to autonomously pay and transact with each other using SEALSQ's decentralized token ecosystem, unlocking a new era of secure, autonomous economic interaction. Machine-to-machine (M2M) payments, facilitated by cryptocurrencies and blockchain technology, enable automated transactions between devices without human intervention. This integration, particularly within the Internet of Things (IoT), allows devices to interact, exchange services, and make payments autonomously. Blockchain's security and transparency, along with the potential for instant settlement, make it a promising solution for M2M payments. The Core Concept: M2M payments involve devices directly exchanging value (cryptocurrencies) for services or data. This eliminates the need for intermediaries like banks or payment processors, streamlining transactions. Examples include smart grids where appliances pay for electricity, or vending machines automatically restocking based on demand. SEALSQ's position to make this investment is bolstered by its robust financial standing, with the Company holding over $170 million in cash and cash equivalents as of July 15, 2025. This strong liquidity allows SEALSQ to make forward-looking investments without compromising its operational agility or R&D initiatives. The cryptocurrency treasury will be actively managed with a long-term outlook and guided by the company's cybersecurity principles and governance framework. It will also serve as a foundation for experiments in quantum-resistant decentralized finance (QR-DeFi) and secure Web3 infrastructure. SEALSQ's post-quantum roadmap includes hardware-based secure elements, root-of-trust technologies, and cryptographic chipsets embedded with next-generation algorithms designed to withstand the computational power of future quantum computers. About SEALSQ: SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable. SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries. For more information on our Post-Quantum Semiconductors and security solutions, please visit Forward-Looking Statements This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC. SEALSQ Corp provides this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
Time of India
17-07-2025
- Business
- Time of India
10 Tokens below $10 to buy now for maximum bull run gains
As the cryptocurrency space prepares for the upcoming market cycle, a new wave of altcoins is emerging as a compelling early entry option. Backed by sound technology, expanding user communities, and tangible use cases, these assets stand to benefit significantly if adoption reaches the projected turning point anticipated around 2025. The following ten candidates warrant close study ahead of the imminent price rally. Little Pepe (LILPEPE): The Undervalued Meme Coin Ready for a Big Breakout Trading at $0.0013 in Stage 4 of its presale, Little Pepe has already secured over $3.9 million and released roughly 3.3 billion tokens. Its Layer-2 architecture delivers near-instant finality, near-zero fees, and expandable throughput, effectively easing the bottlenecks that dogged earlier meme coins. A dedicated Meme Launchpad empowers new communities to mint tokens with pre-set liquidity and governance, extending LILPEPEs' role beyond pure speculation. Initially dismissed as little more than internet humor, the project now positions itself as a meme-centric infrastructure committed to long-term value creation and cohesive community development. Operating with a zero-percent tax on trades, thirteen-and-a-half percent allocated for staking and community rewards, and an additional ten percent set aside to sustain liquidity, LILPEPE's model encourages gradual growth rather than fleeting pump-and-dump episodes. By combining time-honored meme culture with an active on-chain framework, Little Pepe carves out a space apart from the flood of rival meme tokens. Early investors who missed the first waves of Dogecoin and Shiba Inu now find a rare opportunity to buy LILPEPE at what many call rock-bottom prices before wider attention inevitably pushes them higher. Hedera (HBAR): The Enterprise-Grade Blockchain for the Future Priced at 0.1537 with a market cap of $6.51 billion, the network still trades at the modest end of institutional valuations and has clear room to run as more enterprises plug in. Emerging use cases in Web3 gaming, micropayment systems, and carbon footprint monitoring point to an accelerating appetite for Hedera over the next few years. For patient capital that prioritizes actual utility and shuns speculative hype, Hedera remains one of the cleaner, simpler positions in the current blockchain environment. Algorand: Marrying Sustainable Design to High-Throughput Performance in Blockchain Algorand is quietly earning respect for its unusual ability to combine green credentials and high-throughput capabilities, two traits any serious ledger of the near future is likely to require. Priced around $0.1739 and sporting a market cap of just over $1.5 billion, the network continues to collect tiny fees while shuttling thousands of transactions per minute, all on a low-energy proof-of-stake engine. That light energy footprint matters to conscious everyday users and to the large institutional desks whose compliance teams now review emission reports almost as diligently as they review price charts. Market watchers now pencil in a near-term price band between $0.20 and $0.60. VeChain (VET): Leveraging Blockchain to Modernize Supply Chains VeChain currently trades at around $0.02047, giving it a market capitalization of close to $1.76 billion; yet, its real ambition is far bigger — to reshape how goods are tracked and trusted. By binding unerasable, tamper-proof records directly to each product, the system enables stores to trace every item from the factory line to the shelf while confirming quality claims with minimal human input. That practical advantage has landed contracts with names from grocery giants to high-end designers, gradually positioning VET as the backbone token for logistics-focused blockchains. Arbitrum: Easing ETH's Bottlenecks for Decentralized Finance Priced at $0.329 and carrying a market cap of approximately $1.6 billion, the token now acts as a settlement bridge for these high-traffic DApps. ARB's core promise is that trades clear in under a second for pennies per transaction, a speed and cost advantage users eagerly seek whenever Ethereum core blocks become congested. With gas spikes likely to recur, Arbitrum is positioned to absorb excess demand and, therefore, expand its growing token ecosystem. Market analysts currently identify a near-term price floor between $1.50 and $3.50, although a vocal minority advocates for a more aggressive target of $5.00; both scenarios hinge on faster Layer 2 adoption. Because its roll-up design genuinely eases Ethereum's pipeline bottlenecks, higher DeFi activity strengthens the network's primary use case and secures Arbitrum a leading position in the expanding blockchain landscape. Optimism: Poised To Win the Ethereum Layer 2 Battle Optimism (OP) has quickly become Ethereum's leading Layer 2 solution, designed to provide decentralized apps with low-cost, nearly instant transactions. Trading around $0.53 and boasting a market cap of almost $930 million, the protocol appeals to DeFi developers who seek a testbed where high gas fees no longer hinder innovation. Recent upgrades have refined the user interface, streamlined transaction processing, and, in turn, delivered a smoother experience for both end-users and developers, thereby increasing total value locked (TVL) across the chain. Analysts now set an optimistic long-term price target near $7.00 while judging a more moderate range of $2.50 to $5.00 likely in the next cycle, as new wallets are onboard. Gala: A Purpose-Built Blockchain for Gaming Right now, its token price is about $0.0138, and the market cap of the whole network is around $624 million. This number, of course, changes with volume spikes or lulls in trading. GALA is broadening the user base and increasing on-chain activity by focusing on NFT-rich games and expansive online worlds. Analysts note that excitement around game-related non-fungible tokens remains robust, so Gala's bold GameFi push within that momentum places it near the front of the pack. Growing adoption in both virtual environments and more conventional gaming further supports the view that GALA can maintain its relevance, and perhaps even leadership, for years to come. Price watchers in this segment generally expect the token to slide between $0.03 and $0.10 in the next cycle, while the more optimistic outliers predict a target of around $0.15. If daily gamers and new developer pledges continue to rise, as recent data indicates, tighter integration of NFTs and playable assets could finally offer the lasting price lift that many long-term investors are waiting for. The Graph (GRT): Web3's Backbone for Data Indexing Originally designed as a decentralized indexing protocol, The Graph now serves as the primary conduit for fetching blockchain data, alleviating the load that NFT and DeFi apps would otherwise impose on single, heavyweight block explorers. Currently trading around $0.083, with a market capitalization of nearly $823 million, GRT has established itself as a key component in the toolset that developers use to create a fast and responsive Web3 front end. As new chains and community-submitted subgraphs launch almost every day, many within the ecosystem argue that its utility will only deepen and that GRT could ride the upward curve in overall on-chain activity. Analysts routinely sketch a near-term price band of $0.25 to $0.70, while more aggressive cases tied to rapid protocol adoption point toward the $1.00 mark, a level some observers believe could accompany the sweeping redesign they expect for the wider Web3 infrastructure. Toncoin: Powering the Telegram Ecosystem Toncoin (TON) exists as a separate blockchain project with its own economic logic and governance structure. The coin is now priced between $2.70 and $3.00, giving it a total market value close to $7 billion. Although it carries some meme-coin energy, most observers agree that its price movements are much more closely tied to The Open Network's technical milestones and Telegram's 800 million-strong user base. A moderate outlook predicts Toncoin will be in the $6 to $9 range sometime between 2025 and 2026 Cosmos: Interoperability for Blockchain Networks. Cosmos describes itself as the central hub that enables otherwise separate blockchains to share information and value, a skill many observers believe will be vital for the next phase of decentralized finance. Priced at nearly $3.98, with a market capitalization of $1.56 billion, the network utilizes its Inter-Blockchain Communication protocol to facilitate these connections. Adoption will see the price hit $5 in no time. Conclusion: Early Positioning Maximizes Return Potential Almost any altcoin trading under 10.00 on major platforms stands to appreciate once the next bull cycle kicks off. Whether a trader emigrates toward meme hype, enterprise-grade blockchain slogs, DeFi projects, or play-to-earn arcs, these tokens will commandeer headlines through 2025 and beyond. Little Pepe merits a shout; it marries meme appeal with genuine on-chain tasks, incentivizing holders to resist the quick flip. For more information about Little Pepe (LILPEPE) visit the links below: Website: Whitepaper: Telegram: Twitter/X:
Yahoo
15-07-2025
- Business
- Yahoo
RBA announces huge crypto move
The Reserve Bank of Australia is taking the next step in creating a new digital version of the Australian dollar. Dubbed Project Acacia, the RBA has announced it is moving to the trial phase by getting partners on-board to try out digital coins. Project Acacia is a joint initiative between the RBA and the Digital Finance Co-operative Research Centre (DFCRC). The move follows a successful completion of phase 1 in August that was based on conceptual research. Phase 2 testing is due to be completed in the first quarter of 2026. As part of the trial, three of the four major banks and other participants will test stablecoins, bank deposit tokens and pilot wholesale central bank digital currency (CBDC) as well as new ways of using banks' existing exchange bank accounts at the RBA. RBA assistant governor Brad Jones said ensuring that Australia's payments and monetary arrangements were fit-for-purpose in the digital age was a strategic priority for the RBA and its payments system board. 'The use cases selected in this project will help us to better understand how innovations in central bank and private digital money, alongside payments infrastructure, might help to uplift the functioning of wholesale financial markets in Australia,' he said. During the trial phase, the RBA has outsourced work to third parties, including Hedera, Redbelly, R3 Corda and Canvas Connect, to test the central bank digital currency The bank is seeking 24 innovative use cases, including 19 pilot cases, which will involve real money and real asset transfers as well as five proof-of-concept use cases involving simulated transactions. ASIC commissioner Kate O'Rourke said innovation was a sign of a vibrant economy and society, with the regulatory body supporting responsible development of new technologies. 'ASIC sees useful applications for the technologies underlying digital assets in wholesale markets,' she said. 'The relief from regulatory requirements that we have announced will allow these technologies to be sensibly tested – to explore opportunities and identify and tackle risks.' ASIC has given the project regulatory relief to allow participants to transact using the digital Australian dollar. 'Importantly, Project Acacia will allow industry and regulators to work together to learn more about how these use cases may reshape the financial services industry, potentially boosting efficiency and foster economic growth,' Ms O'Rourke said. DFCRC chief scientist Talis Putnins said it was great to have collaboration from so many parts of the industry, from small fintechs to large banks, alongside the key financial regulators in this innovative project. 'The real money settlement models being tested, including issuing pilot wholesale CBDC on third-party platforms, reflects another world-first for Australia in this rapidly evolving field,' Professor Putnins said. RBA governor Michele Bullock suggested that she didn't believe in alternative payment solutions such as bitcoin during a parliamentary inquiry back in February. 'It doesn't have a solid value. You can't be guaranteed that what it's worth today it will be worth the same thing tomorrow,' she said. 'It's extremely slow relative to other payment systems (that) you can get transactions through in milliseconds.' Ms Bullock, however, said that was her personal opinion and not one held by the RBA. Error in retrieving data Sign in to access your portfolio Error in retrieving data
