RABIT Weekly News (W1 October 2022)

On September 16th, European Central Bank announced that the five chosen tech giants will participate in a digital euro development project. The five firms selected by the ECB were the US IT firm Amazon, Spanish financial services group CaixaBank, France’s payment service firm Worldline, Italy’s digital payment solutions market Nexi, and the European Payments Initiative EPI. The five partners aim to digitalize Euro. According to ECB’s statement, the five giants will develop a prototype for the digital Euro.
On September 26th, the BTC/GBP trading volume on exchanges in Euro hit a record $881 million. This record is more than ten times the average as the figure usually stands at $70 million daily. Europe’s largest digital asset investment firm CoinShares chief of research James Butterfill explains this phenomenon by saying, “It is likely due to the investors. When a FIAT currency is threatened, investors start to favor Bitcoin.”
On September 30th, Meta said in the post that ‘Everyone on Facebook and Instagram in the U.S. can now connect their wallets and share their digital collectibles.” Users in the U.S. can now post NFTs and share them through Facebook and Instagram.