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Dimitar Dzhondzhorov



Articles by Dimitar Dzhondzhorov

Nexo Tapped Bakkt as its Cryptocurrency Custodian Partner

22 hours ago

The cryptocurrency lending platform – Nexo – joined forces with the Nasdaq-listed digital asset company – Bakkt Holdings. As a result, the latter will custody a portion of Nexo’s Bitcoin and Ethereum holdings in the Bakkt Warehouse.
Bakkt’s Newest Partnership
The Bakkt Warehouse comprises both online (“warm”) and offline (“cold”) digital asset storage. The company balances between the two tiers to minimize risks associated with cryptocurrency custody services.
In a recent announcement, Nexo raised hopes that this model could bring an enhanced investment shield for its users. The “warm” and “cold” wallets are built on secure wallet architecture, along with multi-zone physical security, the entity informed. However, Nexo did not disclose what proportion of the customers’

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CryptoCom Says No Users Suffered a Loss Despite the $34 Million Stolen

1 day ago

The digital asset exchange – CryptoCom – came up with an official statement regarding the latest attack on its platform. The company revealed that the incident affected nearly 500 people, but they were fully refunded.
The Saga Had a Happy End
In its most recent report, CryptoCom disclosed that it first found out about the issue in the early hours on Monday (January 17). The monitoring systems of the trading venue detected unauthorized activity on a small number of user accounts where transactions were approved without the necessary 2FA authentication, the announcement reads.
Consequently, the team suspended withdrawals of all tokens and initiated an investigation. As CryptoPotato reported a few days ago, the firm also addressed the community about the attack.
In the

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Russia’s Central Bank Reportedly Proposes a Total Crypto Ban

1 day ago

The central banking institution of the largest country by landmass – the Bank of Russia – urged the local government to impose a blanket ban on all cryptocurrency endeavors on Russian territory. It argued that digital assets remind of a pyramid scheme, undermine the sovereignty of monetary policy, and threaten the local financial network.
Russia Calls for a Crypto Ban
Many Russian authorities do not classify as the most crypto-friendly politicians since they have repeatedly opined against the asset class.
Some notable examples include Elvira Nabiullina – the Chief of Bank of Russia – who stated last year that investing in digital assets is more dangerous than any other strategy. Deputy Governor Sergey Shvetsov went even further, saying dealing with bitcoin is so risky that

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ESMA Top Executive: The EU Should Ban Proof-of-Work Mining

2 days ago

The vice-chair of the European Securities and Markets Authority (ESMA) – Erik Thedéen – urged the EU financial regulators to prohibit the cryptocurrency mining model known as proof-of-work. He also claimed that bitcoin has turned into a “national issue” for his homeland Sweden because of the amount of renewable energy devoted to mining the asset.
‘The Solution Is to Ban Proof-of-Work’
In a recent interview for the Financial Times, Erik Thedéen (also Director-General of Sweden’s FCA) opined that cryptocurrencies employing the proof-of-work mining methodology pose significant risks to the environment. As such, European regulators should encourage the proof-of-stake model, which is less energy-intensive:
“We need to have a discussion about shifting the industry to a more

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Morocco’s Biggest Bank to Dive in Crypto by Joining RippleNet (Report)

2 days ago

The leading banking service operator in Morocco – Attijariwafa Bank – has reportedly joined RippleNet. The latter is an international cross-border payment network designed by the American blockchain company Ripple.
A local report revealed that Attijariwafa Bank had become a member of the RippleNet ecosystem. By joining the crypto world, the Moroccan financial institution has strengthened its position as an innovative banking leader in the North African region.
As a result, members of Attijariwafa Bank will be able to exchange transactions with each other from numerous destinations around the world. The Moroccan diaspora consists of nearly 5 million people, as over 1 million reside in France.
Adnane Driouech – Corporate Cash Management Manager at the bank – said his company

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Crypto Could Contribute to BNY Mellon’s Revenue in 2023, Says CEO

2 days ago

According to BNY Mellon’s Chief Executive Officer – Emily Portney – digital assets could create a significant source of revenue starting from next year for the financial institution.
America’s Oldest Bank Sees Crypto’s Potential
The Bank of New York, established in 1784 and operating today as BNY Mellon, is the oldest continuously functioning bank in the past year or so.
In a recent interview, Chief Executive Officer Emily Portney reaffirmed that position. She predicted that bitcoin and the alternative coins could contribute substantially to BNY Mellon’s revenue in 2023.
America’s oldest bank teamed up with Fireblocks in its cryptocurrency endeavors. The latter is a unicorn fintech platform that provides digital asset custody services to some of the largest crypto

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VC Firm Blossom Capital Raises $432M to Invest in the Cryptocurrency Ecosystem

3 days ago

The London-based venture capital company Blossom Capital raised $432 million to invest in early-stage tech startups in Europe. The firm has reserved a third of the proceeds for investments in the cryptocurrency industry.
Blossom Capital Eyes the Crypto Universe
The cryptocurrency initiative, which the British organization launched, does not come as a surprise since its Founder – Ophelia Brown – personally bought bitcoin ten years ago:
“I’ve personally been active in this space since buying my first Bitcoin in 2012. So we’ve kind of debated every year now, when is the right time to keep increasing the exposure and make it core to the fund.”
She also revealed that her company’s strategy includes not only investing in digital assets but also “eyeing equity stakes in

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Malaysia to Explore the Potential Launch of a CBDC (Report)

3 days ago

Bank Negara Malaysia (the central banking institution of the nation) has reportedly joined the global race to develop a digital version of its national currency. As of the moment, the project is still in a research mode as the county is only “assessing the value proposition” of such a financial product.
Malaysia Enters the CBDC League
Launching a central bank digital currency has been a target for many countries recently. While China’s efforts are by far the most advanced globally, other nations such as Mexico, Indonesia, and Nigeria have also started exploring the initiative.
According to a recent Bloomberg coverage, Malaysia is the newest state dipping its toes. Despite not making any final decisions, the Asian country has started researching how a central bank digital

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The Cardano Foundation Partners with EMURGO to Develop New dApps

3 days ago

The Cardano Foundation teamed up with its official commercial arm – EMURGO – to launch a joint project. The main goal is to support the ecosystem of the blockchain protocol and accelerate decentralized application development.
‘We Want to Ensure We Enable The Architects of The Future’
According to a recent blog post, the project will consist of a Minimum Viable Product 1 and Minimum Viable Product 2. MVP1 will be composed of a modular tool stack built by Five Binaries (an infrastructure development firm active in the Cardano ecosystem).
The first stage will include the initial release of the Chain Watcher as well as a backend that will act as a proof-of-concept. Five Binaries will also develop blockchain adapters – plug-in components used to bridge Cardano blockchain data

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OlympusDAO Establishes OHM as a Liquid Asset within the Balancer Ecosystem

3 days ago

The decentralized finance protocol OlympusDAO collaborated with Balancer to set up OHM as a liquid asset within the latter’s network. CopperLaunch and PrimeDAO will facilitate the front end of the Liquidity Bootstrapping Pools (LBPs) by adding OHM as a collateral token.
The Specifics of The Project
According to a document seen by CryptoPotato, the decentralized reserve currency protocol – OlympusDAO – will initially deploy $50 million of liquidity to Balancer Protocol. The structure of the initiative focuses on the access point to OHM via DAI and WETH (wrapped ETH), while lowering the price impact is the primary goal of the collaboration. As such, it was determined that an OHM/ETH/DAI – 50/25/25 Pool would be the best option to present to the Olympus community.
The maximum

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Thailand’s Former SEC Chief Opposes Possible Crypto Taxation: Report

4 days ago

Tipsuda Thavaramara – former Deputy Secretary-General of Thailand’s Securities and Exchange Commission (SEC) – disagreed with the government’s intentions to impose a 15% capital gains tax on cryptocurrency profits. She believes such legislation is unpractical, unfair, and not beneficial for the trade sector.
The Bill Lacks Clarity
Earlier this month, the Thai authorities presented plans to slam local cryptocurrency investors and miners with a 15% capital gains tax. According to the legislation, digital asset exchanges would be exempt from the potential regulations. Nonetheless, the lawmakers did not elaborate, making some individuals doubt the use-cases.
One of them is Tipsuda Thavaramara – a former top executive at Thailand’s SEC. In her view, the possible crypto taxation

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CryptoCom Becomes Financial Backer of the Australian Football League and the AFLW

4 days ago

The digital asset platform CryptoCom inked a five-year collaboration with the AFL to become a financial backer of the Toyota AFL Premiership Season and the NAB AFL Women’s championship. The trading venue will also feature as the exclusive naming rights partner of the tournaments and the Final Series matches.
CryptoCom Expands in Australia
According to a document seen by CryptoPotato, the AFL became the first Australian sports league to partner with CryptoCom. At the same time, the AFLW is the first elite women’s sports competition, which the platform has sponsored worldwide.
According to recent estimations, Australian female investors are much more engaged in the cryptocurrency space compared to other countries. Karl Mohan – CryptoCom General Manager for the region of Asia

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Binance to Establish a Crypto Exchange in Thailand (Report)

4 days ago

The world’s leading digital asset platform – Binance – has reportedly collaborated with the Gulf Energy Development PCL – owned by the Thai billionaire Sarath Ratanavadi. The main goal is to set up a cryptocurrency exchange in the Southeast Asian state.
Establishing a Crypto Platform in Thailand
Thailand has recently positioned itself in the spotlight of the cryptocurrency industry as locals have started embracing the asset class. At the same time, numerous experts opined that jumping into the world of crypto could be highly beneficial for the country, which economy struggles significantly after the COVID-19 pandemic.
One such individual is Jirayut Srupsrisopa – Founder and CEO of the cryptocurrency exchange Bitkub. Not long ago, he urged Thailand’s authorities to open

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Singapore Urges Local Crypto Companies to Refrain From Promoting Digital Assets: Report

4 days ago

The city-state’s central bank – the Monetary Authority of Singapore (MAS) – reportedly issued guidelines that limit crypto trading service providers from promoting such assets. The financial institution believes dealing with digital assets is highly risky and unsuitable for every investor.
In addition, Australia’s top financial watchdog – the Australian Securities and Investments Commission (ASIC) – advised locals to restrain from investing retirement savings into bitcoin and the alternative coins.
Strict Rules for Advertising Crypto Services in Singapore
Singapore is known as one of the Asian cryptocurrency hubs as it has a comprehensive regulatory framework for dealing with such assets and a friendly ecosystem.
Those features have attracted a considerable chunk of the

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NFTs and Blockchain-Based Games on the Rise Despite the Recent Crypto Decline (Report)

5 days ago

The non-fungible token universe and blockchain-based games seem to have their own macro events that affect their growth. A set of reports by the analysis company DappRadar revealed that the number of NFT trades continues to increase gradually despite the adverse price movements in the digital asset industry. Additionally, the interest in blockchain-based games is also on the rise.
NFTs and Blockchain Games Becoming More Popular
Most cryptocurrencies have lost some price ground during the last couple of months. Bitcoin, for example, has retreated by nearly 40% (at the time of writing this article) from its $69,000 record, registered in November last year.
A recent date from DappRadar, though, outlined that the adverse situation in the digital asset market has not harmed

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25% of Small Businesses in 9 Countries Plan to Accept Crypto Payments in 2022 (Visa Study)

5 days ago

According to a recent survey conducted by the payment processor giant Visa, almost a quarter of the participants across nine nations said they intend to embrace digital currencies as a form of payment sometime this year. Furthermore, 13% of consumers in these countries predicted retail stores will begin allowing crypto settlements in the following 12 months.
‘People Are Feeling More Confident with Crypto’
As reported by Reuters, Visa surveyed 2,250 small business owners from nine countries across the globe, including the United States of America, Canada, Brazil, and Singapore. Per the results, every fourth participant plans to embrace bitcoin or some alternative coins as a payment method before the end of the ongoing year.
It is worth observing the percentage rate in the

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Huobi Reports: 70% of Crypto Investors Joined in 2021 (Survey)

6 days ago

According to a research handled by the large digital asset platform Huobi Group, nearly 7 in 10 crypto holders entered the market in 2021. Despite the rising interest in the asset class, approximately 25% of the participants believe “it’s all a scam/bubble,” which is going to collapse, the survey estimated.
7 in 10 Entered The Crypto Ecosystem Last Year
Huobi’s poll consisted of more than 3,000 people. The company conducted it in mid-December 2021, while the results were released on January 13.
Nearly every third participant admitted they are currently crypto holders. A deeper analysis revealed that the vast majority (68%) began investing last year. In comparison, only 9% said they jumped on the crypto bandwagon more than four years ago.
Huobi Chart, Source: Huobi Group46%

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Northwest Arkansas Offers $10,000 in Bitcoin to People Who Settle in The Region

7 days ago

The Northwest Arkansas Council has stepped into the world of crypto by giving away $10K worth of bitcoin to professional workers. The only condition: they have to settle in the region.
Move-in and Get Bitcoin
Northwest Arkansas is widely regarded as one of the top places to live in the United States due to its job opportunities and low cost of living. Despite its advantages, the region consists of mere 540,000 inhabitants.
To attract more individuals to settle in the area, the local authorities have launched a cryptocurrency program. According to it, tech professionals and entrepreneurs can apply for $10,000 in bitcoin if they move to live there. The President and CEO of the Northwest Arkansas Council – Nelson Peacock – presented more details on the offer:
“We’re offering

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Bank of America: Solana Could Become The Visa of Crypto

7 days ago

Alkesh Shah – analyst at Bank of America – predicted Solana could continue to steal some of Ethereum’s market share as it’s easy to use and has significantly lower transaction fees. The strategist further asserted that Solana could become “the Visa” of the cryptocurrency industry.
High Hopes for Solana
Solana has been one of the top-performing cryptocurrency projects in the past 12 months. Its native token has increased its USD value by nearly 4,300% in one year and is currently sitting as the fifth-largest digital asset with a market capitalization of roughly $50 billion.
Despite this significant advancement, the protocol could reach new heights soon, Alkesh Shah from Bank of America opined. He argued that Solana is superior to some of its rivals as it offers low

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Bitcoin Tapping $100,000 is Reasonable, Says OKCoin Exchange CEO

7 days ago

According to Hong Fang – Chief Executive Officer of the US cryptocurrency exchange OKCoin – bitcoin’s price could surge past $100K. However, there are a lot of elements that play in the short-term, meaning the asset might not reach the milestone that soon, she added.
Bitcoin at $100K Is ‘Reasonable’
Despite bitcoin’s recent price decline and volatile nature, the number of individuals envisioning the cryptocurrency with a future price tag of $100,000 is growing daily. OKCoin’s CEO – Hong Fang – is the latest member of the club.
In a recent interview for CNBC, the executive opined that BTC’s network has “no protocol risks.” As such, she is “very bullish” on the asset and thinks it could even surpass the $100K price level. This potential surge might not happen in the

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Coinbase Becomes Sponsor-A-Scholar Partner of Yield Guild Games (YGG)

8 days ago

Yield Guild Games – a game community in the play-to-earn field – obtained support from the US cryptocurrency platform Coinbase. The partnership between the two entities should bring more assets available for scholarships.
In addition, Coinbase announced it will soon acquire FairX – a CFTC-regulated derivatives exchange. The deal is considered a turning point for the former, which aims to offer crypto derivatives to retail and institutional investors in the States.
Coinbase Fortifies its Position in the Metaverse
The decentralized autonomous organization that promotes blockchain-based games – Yield Guild Games (YGG) – disclosed recently that more and more players want play-to-earn scholarships. In line with this demand, the entity welcomed its newest partner – the

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Swiss National Bank, Citigroup, and Goldman Tested a Joint CBDC Project: Report

8 days ago

The Swiss National Bank (SNB), together with five other banking giants, have reportedly tested whether they can process central bank digital currencies within the nation’s financial network. The institutions revealed they were able to integrate CBDCs into their existing core banking systems.
The Latest CBDC Trial in Switzerland
A January 13 coverage by Bloomberg disclosed that Switzerland’s central bank and five commercial banks successfully employed CBDCs to settle transactions. These large institution included Citigroup Inc, UBS Group AG, Goldman Sachs Group Inc, Credit Suisse Group AG, and Hypothekarbank Lenzburg AG.
The banks conducted the trial as part of an experiment known as “Project Helvetica,” which aims to identify the details around issuing wholesale central

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Pakistan’s Central Bank Recommends a Total Crypto Ban (Report)

8 days ago

The State Bank of Pakistan (the nation’s central banking institution) and the Federal government are reportedly contemplating imposing a complete ban on all cryptocurrency endeavors. The authorities claimed that digital assets are illegal, are not able to facilitate trade activities, and could be used to finance acts of terrorism and launder money.
Pakistan to Ban Crypto?
Last October, the Sindh High Court urged the Pakistani government to regulate the cryptocurrency space within three months. The court also directed the lawmakers to form a committee and determine the legal status of digital assets.
90 days later, the central bank of Pakistan is ready with its decision proposing a complete ban on everything crypto, a local coverage informed.
There are several reasons why

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Institutions Will Push Bitcoin Price to $75,000 This Year, Says SEBA Bank CEO

8 days ago

According to Guido Buehler – Chief Executive Officer of the Swiss-based SEBA Bank – bitcoin will reach a new all-time high in 2022. The exec believes institutional investments will be the main factor for such a price surge.
Additionally, the digital bank raised $120 million in a Series C funding round co-led by DeFi Technologies and Alameda Research. The organization vowed to use the funds to expand into new markets globally and increase the product offerings.
BTC to Touch $75K in 2022
During a recent interview for CNBC, Buehler – the man in charge of the Switzerland-based banking platform SEBA Bank – said bitcoin’s USD value could nearly double this year, according to his company’s estimations. Specifically, the institution envisioned a price tag between $50,000 and

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Brazilian Crypto Giant 2TM Acquires Portuguese Exchange (Report)

9 days ago

2TM Group, the parent company of Brazil’s largest cryptocurrency exchange Mercado Bitcoin, reportedly acquired a controlling stake in Portuguese-based digital asset trading venue CriptoLoja. Last year, the latter became the first platform in Portugal with an official license as a “virtual asset service provider.”
Pushing into Europe
According to a January 12 report by Reuters, the Brazilian organization, valued at approximately $2.2 billion, declined to disclose the terms of the deal. It added that the transaction will become official once Banco de Portugal (the country’s central bank) greenlights it. Roberto Dagnoni – Chief Executive Officer at 2TM – commented:
“Portugal is a strategic market for us because it requires a specific license. It is becoming an important hub

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Binance Becomes Exclusive Cryptocurrency Sponsor of African Cup of Nations

10 days ago

The world’s largest digital asset trading venue – Binance – announced it partnered with the Confederation of African Football (CAF). As a result, the company became the official cryptocurrency and blockchain sponsor of the 2021 TotalEnergies Africa Cup of Nations (AFCON) tournament.
The latter is the most significant soccer championship on the continent – this year, it is held from January 9 till February 6, 2022, in Cameroon.
Binance’s African Endeavor
Apart from taking its global brand and technology to African soccer, Binance also became the official partner of the Assist of the Day / Binance Assist of the Week / Binance Assist of the Tournament. The feature will be promoted across CAF’s social media channels and all six venues in five cities in Cameroon.
The tournament

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Nasdaq-Listed Real Estate Company to Embrace Bitcoin, Ethereum, Dogecoin, and Shiba Inu Payments

10 days ago

Washington-based real estate firm – Harbor Custom Development, Inc. – will reportedly start accepting digital currencies as payment for its residential homes, apartments, condominiums, and other properties as of January 24th.
Crypto Making its Way in the Retail Estate Industry
According to a recent coverage, Harbor Custom Development, Inc. (Nasdaq ticker: HCDI) will embrace numerous digital assets as a means of settlement. Some of the assets include Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and the self-proclaimed DOGE-killer Shiba Inu (SHIB).
Commenting on the matter was Jeff Habersetzer – Chief Operating Officer at the company:
“Acceptance of digital currencies for our real estate offerings is a logical step for Harbor and demonstrates our flexible business model

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Only 5% of JPMorgan’s Clients Believe Bitcoin Will Reach $100,000 in 2022 (Report)

10 days ago

According to a recent survey, the vast majority of JPMorgan customers do not expect bitcoin to reach $100,000 in the following 12 months. Still, more than 40% of the participants expect the asset to sit at around $60,000 by the year’s end.
JPMorgan Clients Do Not Expect BTC at $100K This Year
The largest cryptocurrency by market capitalization did not manage to climb to the often-touted milestone of $100,000 last year despite numerous predictions from experts and analysts. In fact, bitcoin finished 2021 on a downtrend, which continued in the first days of 2022.
However, some analysts and proponents of the asset still believe that it can reach this price level in the next 12 months.
In contrast, most clients of the US multinational bank JPMorgan Chase & Co are skeptical of

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Kosovo Police Confiscates Hundreds of Cryptocurrency Mining Machines

11 days ago

As a result of several police actions, the Kosovo authorities seized more than 300 cryptocurrency mining devices. According to the nation’s Minister of Energy and Economy, the seizure will save “tens of thousands of Euros per month.”
Kosovo’s Ban Intensifies
Similar to many other countries in Europe, Kosovo currently struggles with an energy crisis prompted by the sharp price increase of electricity. Attempting to curb consummation during the winter and eliminate power shortages, the government recently introduced a blanket ban on cryptocurrency mining.
Just a few days after the rule became live, local law enforcement agencies executed the first seizure. According to a recent announcement, Kosovo Police and Kosovo Customs conducted a joint operation, after which they

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Bahrain’s Central Bank Declares Its JPM Coin Payment Test a Success

11 days ago

The Central Bank of Bahrain (CBB) has successfully completed a test of JPMorgan’s JPM Coin. The latter is a digital currency designated to make payments using blockchain technology.
First Tests for JPM Coin in The Region
Bahrain’s central bank revealed it is committed to improving the customer experience for secure and efficient settlement services. Seeking to achieve its mission, the financial institution completed a trial of JPMorgan Chase’s JPM Coin. This is the first test of its kind for the US bank’s blockchain product in that part of the world.
The experiment involved two other entities: Manama-based Bank ABC and Aluminium Bahrain – the first aluminum smelter in the Middle East, more popular as Alba. The test enabled the former to initiate real-time payments to the

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