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Systems

Why Brazilians Are Turning to Stablecoins Like Tether

“Amid record inflation and a constant devaluation of their local currency, Brazilians are turning to cryptocurrencies and, in particular, stablecoins as never before. According to Receita Federal, the Brazilian tax authority , between January and November 2021, locals traded $11.4 billion in stablecoins and almost tripled the total traded in 2020. Stablecoins also traded $10.8 […]
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Systems

Jack Dorsey’s Payments Company, Block, Is Building a System for Bitcoin Miners

“Jack Dorsey’s payments company Block (formerly Square) is going to start mining for bitcoin. In a string of tweets, Block’s general manager for hardware, Thomas Templeton, laid out the company’s plans for next steps.   Templeton says the goal is to make bitcoin mining — the process of creating new bitcoins by solving increasingly complex […]
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Systems

Iran to Allow Crypto Payments for International Trade: Report

“The Central Bank of Iran, or CBI, and the Ministry of Trade have reached an agreement to link the CBI’s payment platform to a trade system allowing businesses to settle payments using cryptocurrencies, the Mehr News Agency reported Monday. Alireza Peyman-Pak, Iran’s deputy minister of Industry, Mine and Trade and head of Iran’s Trade Promotion […]
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Visa Partners With ConsenSys to Help Bridge CBDCs With Traditional Finance

“Payments giant Visa has teamed up with Ethereum scaling firm ConsenSys to help central bank digital currency (CBDC) networks bridge the gap with traditional financial institutions. Customers will eventually be able to use their CBDC-linked Visa card or digital wallet anywhere that Visa is accepted globally, Catherine Gu, Visa’s head of CBDC, said in a […]
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Systems

BIS, Swiss National Bank, SIX Exchange Complete Wholesale CBDC Trial

“Switzerland is practically ready to launch a wholesale central bank digital currency (CBDC). Working in concert, the Bank for International Settlements (BIS), the Swiss National Bank (SNB) and the country’s stock exchange, SIX, have test-driven the integration of wholesale CBDC settlement. Also included in the prototype were five commercial banks: Citi, Credit Suisse, Goldman Sachs, […]
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Systems

Powell Says Private Coins Could Compete With Fed Digital Dollar

“There’s room for privately issued stablecoins to exist alongside a possible central bank digital currency, according to Federal Reserve Chair Jerome Powell.   The Fed plans to publish a report on digital currencies in the coming weeks, Powell said at a Senate Banking Committee hearing on Tuesday. The central bank hasn’t said whether it plans […]

On The Wires

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NCR Completes Acquisition of Cryptocurrency Leader LibertyX

“NCR Corporation (NYSE: NCR), a global enterprise technology provider, today announced the completion of the previously announced transaction to acquire LibertyX , a leading cryptocurrency software provider. LibertyX is a strong strategic fit for NCR because it accelerates NCR’s ability to rapidly deliver a complete digital currency solution to its customers, including the ability to […]