This week’s roundup will feature titles on crypto, digital currencies and cashless progression. Join us and Managing Director of Unlimit BaaS, Jovi Overo, in the exploration of some of the biggest headlines of our industry.
- Visa has filed trademark applications in relation to the metaverse, NFTs and digital currency wallets, to provide users access to interact with virtual environments. [source: Finextra]
Even though we are in the winter of discontent for crypto, trademark filings have increased from notable brands such as LVMH, Formula 1 and Visa, in this case. It demonstrates that these companies see the future potential market and are laying the groundwork to be ready for it. – Jovi
- The Reserve Bank of India has announced its plans to launch the digital rupee for retailers in select locations. The pilot will involve nine locally operating banks, with the expectation to enhance interbank efficiency by reducing transaction costs of settlements. [source: Cointelegraph]
As crypto currencies and CBDC appear to be the way forward for central banks to have control of digital currencies, this news will undoubtedly advance India in the race for virtual currencies. The digital rupee, due to the application of blockchain, will improve efficiencies and offer more transparency and speed up cross border transactions, eliminating the need to open a bank account. – Jovi
- Commonwealth Bank of Australia has rolled out an app, called ‘The Smart Giving’ app, to move further from cash, that enables charities to accept digital, contactless donations [source: Finextra]
Digitalising charitable is a natural next step in an age where cash transactions are diminishing and, whether good or bad, cash will eventually disappear. This is important as it removes friction in the charitable giving process. – Jovi
See you next week, back in the Unlimit BaaS blog for your next weekly news roundup.
