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2021-09-29Fantom Will Help Tajikistan Set up a Central Bank Digital Currency System
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Today’s Cryptocurrency Headline
Fantom announced a partnership with OJSC Orienbank, one of the largest banks in Tajikistan, to help establish a central bank digital currency (CBDC) system in Tajikistan. Fantom and Orienbank, in cooperation with the Central Bank of Tajikistan, will use Fantom’s technology stack to digitize The Tajik fiat Somoni for retail and commercial payments. The platform will also integrate the zero-collateral cross-chain lending agreement Iron Bank to enable seamless and low-cost foreign exchange transactions through simple fiat currency entry and exit channels. According to Fantom, the CBDC solution will be tested and refined over a period of time. After the tests, it will launch the product nationwide under the regulatory sandbox of Tajikistan’s Central Bank.
Bingbon’s Bitcoin Chart
Source: TradingView& Bingbon
At one point yesterday, Bitcoin floated above $44,000, showing considerable resilience. Bitcoin price has subsequently dipped, but remains above $40,000. It suggests the market may well have priced in last week’s regulatory impact. The $40,000 level is the first support level for Bitcoin. If BTC wants to bounce back, it must stand firm at $43,600. September is coming to an end with only a few days left, a historically bearish month that has seen many crises. Nonetheless, Bitcoin seems to have increased tolerance.