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 <li><strong>Myanmar’s to launch its first crypto-based banking establishment targeting Burmese citizens and diaspora.</strong></li> 
 <li><strong>Spring Development Bank utilizes Polygon ecosystem and plans to introduce fiat-pegged stablecoins.</strong></li> 
 <li><strong>The bank aims to restore financial autonomy to Myanmar and ensures privacy with web-only platform.</strong></li> 
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<p>Myanmar’s shadow government has an opportunity to explore enhanced control of the country’s financial landscape after announcing the soft launch of its first-ever crypto-based banking establishment, scheduled for July 22.</p> 
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   <p lang="en" dir="ltr">Myanmar's first fully cryptocurrency-based banking institution, Spring Development Bank, announced that it will trial run on July 22. Based on Polygon, the bank will issue a variety of new stablecoins linked to fiats. The bank is launched with the support of the Burmese…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1681942326028144642?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 20, 2023</a> 
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<p>While Myanmar’s Spring Development Bank is targeting the 55 million Burmese citizens living in the country, the bank’s main focus lies on the 2 million “Burmese diaspora,” working and residing abroad, frequently sending money back home. The bank’s goal is supported by the technological infrastructure, built on P…</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/myanmars-shadow-government-unveils-crypto-bank-for-financial-control/">Myanmar’s Shadow Government Unveils Crypto Bank For Financial Control</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Myanmar’s Shadow Government Unveils Crypto Bank For Financial Control

Coin Edition

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