China News by Thebittimes.Com

On October 26, Ramp, a financial technology firm focused on establishing payment infrastructure that links the cryptocurrency economy with the worldwide financial system , announced a significant collaboration with Linea.  Linea is a developer-friendly zkEVM rollup designed to enhance the scalability of Ethereum decentralized applications (dApps). The agreement entails the integration of Linea Network’s advanced blockchain technology with Ramp Network’s extensive global payments infrastructure, according to information shared with Finbold. During the first phase of this strategic alliance, individuals from over 150 countries and territories have gained the capability to acquire ETH and USDC directly via the Linea Network. This is made possible by using the Ramp widget, which is accessible through Ramp’s wide-ranging network of integration partners.  This is also the first phase of investigating the potential collaboration between Linea Network and Ramp Netw...

Tobias Adrian, a financial counselor at the International Monetary Fund (IMF), recently discussed ways to revolutionize money with the global equivalent of a central bank digital currency (CBDC) system. In a speech at a roundtable on CBDCs this week, Adrian explored the underlying infrastructure of money and shared a blueprint for enhancing cross-border and domestic payments, saying it could usher in a new era of financial transactions. He discussed the difficulties cross-border payments face, including high costs, slow processing and need for more transparency. Adrian noted the IMF, World Bank, Bank of International Settlements and the Financial Stability Board have been working together on this issue. A potential solution would involve a trusted ledger to provide a secure and reliable electronic system where property rights can be recorded. “Expressed in today’s language, the vision is for a trusted ledger , which is essentially an electronic document representing property rig...