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The digital currencies that matter

Get ready for Fedcoin and the e-euro

Technological change is upending finance. Bitcoin has gone from being an obsession of anarchists to a $1trn asset class that many fund managers insist belongs in any balanced portfolio. Swarms of digital day-traders have become a force on Wall Street. Paypal has 392m users, a sign that America is catching up with China’s digital-payments giants….

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