UAE, Saudi Arabia Launch Cryptocurrency Pilot for Cross-Border Payments

Image: Shutterstock By CCN.com: UAE and Saudi Arabia — two countries that have the world’s second-largest combined sovereign wealth funds — have launched their pilot cryptocurrency. According to UAE’s official news agency, Emirates News Agency, the Saudi-Emirati cryptocurrency is one of the seven initiatives that will be implemented in both countries. Saudi-Emirati Cryptocurrency Restricted to Banks Only…

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Indonesia’s First Billion-Dollar Unicorn Acquires Philippine Bitcoin Wallet

By CCN.com: On Jan. 18, after an unsuccessful attempt to enter the Philippines market earlier this month due to foreign ownership concerns, Go-Jek, a major Indonesian ride-sharing platform has announced a partnership between with Coins.ph, a local crypto wallet and payments platform. The Filipino firm is currently in the process of rolling out beta access to users in the…

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How $400 Billion Tencent Might Soon Acquire Two Major Bitcoin Exchanges

Chinese gaming giant Tencent could acquire Nexon, which owns multiple bitcoin exchanges. | Source: REUTERS/Kim Kyung-Hoon/File Photo Tencent might soon be the proud owner of two major bitcoin exchanges, as the $400 billion Chinese tech conglomerate is weighing a bid for the South Korean holding company that controls them. Tencent Mulling Bid for Owner of…

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Victory: Eddie Lampert’s $5.2 Billion Bid Rescues Sears from Bankruptcy

Eddie Lampert’s $5.2 billion bid rescued Sears from liquidation. | Source: AP Photo/Gregory Bull, File ESL Investments CEO Eddie Lampert has emerged victorious in the Sears Holding Corporation bankruptcy auction with a $5.2 billion bid that potentially saves tens of thousands of jobs and keeps 425 Sears stores open across the United States. Sears Shares…

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Amazon and Walmart Stock in Danger? India Tightens E-Commerce Rules

Last month, India implemented new regulations for foreign e-commerce firms including Amazon and Walmart-owned Flipkart, placing pressure on the two conglomerates. According to Mukesh Aghi, the U.S.-India Strategic Partnership Forum president, the abrupt change in e-commerce regulations can pose a severely negative impact on the growth of U.S. companies in India. Are Amazon and Walmart…

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Japan Not Considering Approval of Bitcoin ETF, FSA Denies Reports

According to a spokesperson from the Financial Services Agency (FSA), Japan is not considering the approval of a Bitcoin exchange-traded fund (ETF). Speaking to Bitcoin.com, an FSA representative said: There is no such fact that we are considering approving ETFs which track crypto-assets at present. We are not currently considering approving them. Japan Doesn’t See…

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