Sun highlighted the potential harm of the collapse of SVB to the industry and share his desire to create an infrastructure bridging traditional finance and crypto.
The popular cryptocurrency exchange's bank will have necessary safety measures to protect its customers in case of a bank run.
This anticipated move came after the two-year test of proof of concept for deciding whether a CBDC should be created.
The bank will offer two services: One is used for engagement with small business owners, and the other one is utilized for the education of its employees.
The innovative digital guarantees platform, which will run on the Layer 1 blockchain Algorand, will be launched in the first quarter of 2023.
''...Thanks to the efforts of the experts, we encounter smart contracts in blockchain technology. Now, we would like to explain smart contracts that are known as the future versions of contracts...''