NFT News by Thebittimes.Com

This week, a chart circulated that appeared to show stablecoin volume on the Solana blockchain declining over 90% since a series of bad events at Jump Crypto, one of Solana’s biggest trading shops.  However, whether or not Jump decreased its Solana trading activity, the claim that stablecoin volume is down 90% falls apart quickly on semantics alone. Before addressing that issue, here’s a quick summary of recent events at Solana and Jump Crypto: The CFTC launched an investigation into Jump Crypto, one of Solana’s biggest traders. The leader of Jump Crypto, Kanav Kariya, suddenly left the company. Pump.fun, a Solana meme coin generator, has gone viral, platforming countless celebrity rug-pulls. Solana announced two new types of on-chain transactions, ‘Blinks’ and ‘Actions.’ Both are non-financial codes that allow people to transact on Solana’s blockchains directly from websites and social platforms by clicking simple buttons like ‘Share’ o...

Soramitsu is developing a cross-border payment system that uses Cambodia’s CBDCs and targets Japan, India, China and Southeast Asia. Japanese blockchain startup Soramitsu is exploring new central bank digital currency (CBDC) applications with a new project on the cross-border payment system for Asian countries . Soramitsu will deploy Cambodia's CBDC and fiat-pegged stablecoin s as part of its new payment system targeting countries like India, China, Japan and regions like Southeast Asia. The new project builds upon Soramitsu’s CBDC expertise, including its involvement in the Asian CBDC project Bakong in Cambodia and Laos' Lao kip, Nikkei reported on Aug. 8. Launched in 2020, Cambodia’s Bakong is a public-private initiative allowing Cambodian residents to pay at stores or send money through a mobile app using the local currency riel or U.S. dollar. Since launch, Bakong’s adoption has expanded to countries like Malaysia, Thailand and Vietnam. By late 2022, Bakong reportedly h...