Mastercard Launches Virtual Testing Platform For CBDCs – September 10

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $10,339

Bitcoin price has traded in a tight range today, bouncing between the $10,200 and $10,400 marks.

Top-20 altcoins have traded positive yet again, with Ethereum up almost 7%, XRP rising 2%, and Binance Coin leading the way with an 8% gain.

Top Stories for September 10, 2020 πŸ”₯

πŸ‘‰ Mastercard Launches Virtual Testing Platform For CBDCs

Mastercard has launched platform which will assist central banks in testing central bank digital currencies (CBDCs).

The platform will be able to simulate CBDC ecosystems and potential roll-out methods, as well as how a CBDC will interact with existing payment services and networks.

A recent survey by the Bank for International Settlements showed that 80% of central banks are currently exploring CBDCs.

πŸ‘‰ USDC Stablecoin Now Supported By Algorand Blockchain

It has been announced that USD Coin (USDC), the stablecoin issued by the CENTRE consortium, will now be supported by the Algorand blockchain.

The expansion to Algorand was triggered by recent congestion and transaction fee issues on the Ethereum network, which USDC currently runs on.

Algorand will be able to process more than 1,000 transactions per second for a fraction of a cent each, while Ethereum can only handle 15 transactions a second, each currently costing almost $3 .

πŸ‘‰ DBS Bank Economist Says Pandemic Will Accelerate BTC Adoption

An economist from Singapore’s DBS bank believes that the current pandemic will lead to a large acceleration in the rate of Bitcoin adoption, according to a quarterly report.

The report outlines pre- and post- pandemic waves of demand for Bitcoin, with the latter being accompanied by a stronger understanding of the asset’s fundamentals, such as its fixed supply.