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Today’s Cryptocurrency Headline

Singapore-based financial services group DBS is partnering with Open Government Products, a tech team within the Singapore government, to pilot the tokenization of the digital Singapore dollar. The pilot is part of the MAS-led CBDC technology exploration project “Project Orchid” launched last year to enable a programmable digital Singapore dollar. DBS will issue digital Singapore dollars, while Open Government Products will enable smart contract capabilities in the future.

BingX’s Bitcoin Chart

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According to the latest CoinShares report, digital asset investment products saw a net inflow of $6.1 million last week. Bitcoin is down 0.68% over the last 24 hours and fell to an intraday low of $20,240.00. The volatility of Bitcoin has reduced since Saturday, as markets prepared for the latest U.S. Federal Reserve policy meeting. The Fed is expected to hike rates by 75 basis points this week, as core inflation remains at historical highs. Investors will look for any signals the Fed may be considering a deceleration in interest rate hikes in the future. If the Fed pivots from its hawkish interest rate hikes, we could witness all risk assets rise in the future.

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