Bitcoin is up on Thursday after gaining ground late Wednesday alongside a rally in U.S. equity markets on optimism that a debt-ceiling deal will be reached in the upcoming days. LedesmaLyllah reports
Bitcoin is up on Thursday after gaining ground late Wednesday alongside a rally in U.S. equity markets on optimism that a debt-ceiling deal will be reached in the upcoming days.
The world’s largest cryptocurrency by market value began its rise Wednesday after touching a weekly low of $26,500. At press time, BTC was trading at around $27,400, up 3% on the day. Following a meeting at the White House, U.S. President Joe Biden and Congressmen from both sides of the aisle emphasized their commitment to soon reach a deal to raise the federal government's debt ceiling.which allows central banks, governments, and financial institutions to issue their own digital currency.
Using Ripple's platform, government institutions can manage and customize the entire life cycle of the CBDC, which includes minting, distribution, redemption and token burning. Financial institutions would also be able to manage and participate in inter-institutional settlement and distribution functions using the CBDC. Central banks can issue both wholesale and retail CBDCs, which can make offline transactions as well.
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