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India is all set to pitch the idea of a central bank digital currency (CBDC) at the upcoming BRICS summit on September 12 and 13, reported the Hindu Business Line quoting a source close to the development. The Reserve Bank of India (RBI) had proposed linking the digital currencies of all member central banks for trade and transactions early in January. If the proposal goes through, the alliance could see a paradigm shift in how they settle cross-border transactions. The source said on the condition of anonymity that finance ministers of all member nations are set to meet in early September to discuss the way forward on CBDCs. “The BRICS Finance Ministers and Central Bank Governors (FMCBG) track is expected to meet again in early September to provide greater clarity on the possible way forward on CBDC and fast payment system linkages that could be adopted at the BRICS Summit,” a source tracking the matter told Businessline. Also Read: Cuba Applies To Join BRICS Alliance Ahead of the 20...

BlackRock significantly increased its exposure to Bitcoin (BTC) and Ethereum (ETH) last week, scooping up more than $1.8 billion worth of the assets as institutional demand for cryptocurrency investment products accelerated. The asset manager attracted the largest share of inflows into U.S. spot crypto exchange-traded funds (ETFs) during one of the strongest weeks for the sector this year. Over the five trading sessions ending August 21, BlackRock’s spot Bitcoin and Ethereum ETFs recorded a combined $1.87 billion in net inflows.  In this vein, data shows BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $1.33 billion between August 17 and August 21, while the iShares Ethereum Trust (ETHA) added another $536.8 million. The combined inflows made BlackRock a key driver of the crypto market’s latest rally. Bitcoin ETF inflows. Source: CoinGlass IBIT attracted $160.2 million on August 17, $143.6 million on August 18, $284.7 milli...