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Visa remains committed to investing in the cryptocurrency sector, despite recent setbacks in the industry, according to a spokesperson for the payments giant.

Goldman Sachs digital assets team is considering expanding, exploring the potential for blockchain technology to enhance the functioning of markets such as private equity.

Solana’s core engineers are planning to boost their focus on improving the network’s stability. The team is planning to bring in additional external developers and auditors to test and find exploits. The move comes after the network endured an hours-long slowdown over the weekend.

Sponsored: Ledger Stax is the go-to digital asset management solution for individuals and businesses who demand the highest level of security and customization. Now available for pre-order, Ledger Stax sets itself apart with its innovative features and sleek design.

Top stories in the Crypto Roundup today:

  • Visa to Maintain Crypto Strategy
  • Goldman Sachs Open to Recruit for its Digital Assets Team
  • Solana to Boost Focus on Improving Stability
  • Chinese CBDC e-CNY: Transaction Count and Value
  • Sponsored: Experience Peace of Mind with Ledger Stax's Secure Digital Asset Management Platform

 
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Visa to Maintain Crypto Strategy

 

Visa remains committed to investing in the cryptocurrency sector, despite recent setbacks in the industry, according to a spokesperson for the payments giant.

Reports earlier this week suggested that Visa was slowing down its partnerships with crypto-related firms, amid growing scrutiny following the collapse of FTX. However, the company has dismissed these reports, stating that it is focused on serving as a bridge between different platforms and technologies in the emerging crypto ecosystem.

In recent years, Visa has made a number of strategic investments in the cryptocurrency space, including a $40 million investment in cryptocurrency infrastructure provider Anchorage in 2021. The company has also been exploring the use of blockchain technology to improve its payment processing capabilities.

A Visa spokesperson emphasized that the company's crypto strategy remains unchanged, and that it will continue to invest in the sector in order to help connect different platforms and technologies.

The company’s head of crypto, Cuy Sheffield, said that reports on Visa looking to slow down partnerships in the cryptocurrency space are inaccurate, and reiterated Visa continues to partner with crypto firms.

 
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Goldman Sachs Open to Recruit for its Digital Assets Team

 

Goldman Sachs digital assets team is considering expanding, exploring the potential for blockchain technology to enhance the functioning of markets such as private equity.

According to its global head, Mathew McDermott, the financial giant remains “hugely supportive” of exploring blockchain applications, and its digital asset division is set to hire as appropriate” this year.

McDermott's comments come after the successful sale of digital green bonds using Goldman's tokenization platform, GS DAP, in Hong Kong. The platform was utilized by the city to sell inaugural digital green bonds.

GS DAP is a private blockchain, which McDermott said could be used for other assets, such as fund units, derivatives, private equity, and alternatives.

His team is now some 70-strong, up from just four members in 2020, when he took charge. Goldman Sachs as a whole cut around 3,200 positions last month.

 
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Solana to Boost Focus on Improving Stability

 

Solana’s core engineers are planning to boost their focus on improving the network’s stability. The team is planning to bring in additional external developers and auditors to test and find exploits. The move comes after the network endured an hours-long slowdown over the weekend.

The network’s engineers have for now been focusing on improving its speed and usability, with its latest release, version 1.14, working on issues such as invalid gas metering, transaction flow control, and fee markets.

To  boost the network’s stability, an adversarial team will be formed, comprising almost a third of the Solana Labs core engineering team, which will work to identify and fix any weaknesses or vulnerabilities in the network.

The core engineers will also continue to support external core engineers, such as Jump Crypto's Firedancer team, which is building a second validator client. Improving the restart process is also on the agenda, with plans to make nodes automatically discover the latest confirmed slot and share the ledger with each other if it is missing.

These improvements will help ensure the network remains stable and reliable, even in the event of unexpected downtime.

 
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Chinese CBDC e-CNY: Transaction Count and Value

 

China has taken a significant step towards integrating its digital currency, e-CNY, into its financial system by including circulation data in its official financial statistics for the first time in February.

The latest data shows that as of December 31st, 2022, there were 13.6 billion e-CNY in circulation, accounting for 0.13% of the total 10.5 trillion yuan in circulation.

However, while the inclusion of e-CNY circulation data is a positive development, the latest transaction volume and transaction value data indicate that the adoption of the CBDC has been slow, with relatively low activity levels.

Transaction value data as of August 2022 showed that the total value transacted had only risen 14.1% to $14.5 billion since the start of the year.

Dive deeper into the stablecoin space with CryptoCompare’s latest Stablecoins & CBDCs Report.

 
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Experience Peace of Mind with Ledger Stax's Secure Digital Asset Management Platform

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