Payments News

On The Web

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Systems

A Mexican Crypto Startup Wants to Make Cash Remittances Cheaper

“…Intuitively, a technology that allows one person to send money to another without an intermediary could make remittances quicker and cheaper. There are still huge barriers, from the wild volatility of many cryptocurrencies to the complexities of buying them in one country and then converting them back to traditional cash in another. Bitso, a Mexico […]
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Systems

Payment Choice Act Wins Bipartisan Backing

“The Federal Reserve Board may be mulling a digital dollar, but U.S. Rep. Donald Payne Jr. has cash on his mind. He was so concerned about stores not accepting cash that he introduced the Payment Choice Act to preserve the right of Americans to pay in cash and to bar merchants from rejecting it. He first […]
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Systems

Why New York Community Bank Is Minting Stablecoins

“For Andrew Kaplan, the chief digital and banking as a service officer at New York Community Bancorp, the reasons to make his bank the first to mint a new stablecoin called USDF were clear. The bank has begun working with Figure Technologies to issue a stablecoin, a digital asset that is always equal to a […]
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Systems

Indian Government Submits Bill to Ban Most Cryptocurrencies, Dashing Hopes for Friendlier Measure

“The Indian government is still seeking to ban most cryptocurrencies under a long-awaited cryptocurrencies bill that will be submitted for consideration at Parliament’s so-called “Winter Session” this year. According to a bulletin posted on Lok Sabha, the Indian parliament’s official website, The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, aims to create a […]
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Systems

Consortium of Japanese Firms to Test Digital Currency in Coming Months, Launch in FY2022

“A consortium of roughly 70 Japanese firms, including the country’s three mega-banks, said it aims to launch a yen-based digital currency in fiscal 2022 after beginning trials in coming months. The digital currency, tentatively called “DCJPY”, will be backed by bank deposits and use a common platform to speed up large-scale fund transfers and settlement […]
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Systems

US Region to Get Blockchain-powered Local Digital Currency

“Consumers in the Berkshires region of western Massachusetts in the US will soon be able to make in-store and online purchases and carry out person-to-person transactions using a digital version of the BerkShares local currency. Users of the digital BerkShare will be able to download a mobile app, link it to their bank account and […]
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Systems

Hong Kong Monetary Authority Lays Out Technical Design Options for Digital HK Dollar

“The Hong Kong Monetary Authority (HKMA) has published a white paper that explores potential technical and design options for issuing and distributing retail central bank digital currencies (CBDCs) and proposes a two-tier system as “one possible design” for a digital HK dollar or e-HKD. The 50-page e-HKD: A Technical Perspective white paper represents “the first […]
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Systems

Stablecoin Advocates Make Their Case to U.S. Banking Regulators

“Blockchain startup Figure Technologies Inc. and other firms held talks with U.S. regulators about how to issue a stablecoin that satisfies watchdogs amid deep Washington skepticism over the fast-growing corner of the cryptocurrency market. Senior officials of the Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. met last week […]

On The Wires

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Domains

Shinhan Bank to Conduct Stablecoin International Remittance PoC on Hedera Network, in Partnership With Major Multinational Bank

“Shinhan Bank , the leading bank in South Korea, today announced that it has completed the development of a proof-of-concept, with a global megabank outside of Korea, built on the Hedera network, leveraging stablecoins and focused on international remittances. Utilizing the Hedera Token Service (HTS) and Hedera Consensus Service (HCS), the project aims to test the […]
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Systems

Jack Henry’s Clients Represent 67% of Financial Institutions on the RTP® Network From The Clearing House

“Jack Henry & Associates, Inc. (NASDAQ: JKHY ), a leading provider of technology solutions and payment processing services primarily for the financial services industry, announced today that its clients represent the majority of financial institutions live on The Clearing House’s RTP® network. There are currently 118 of the 177 banks and credit union live through Jack Henry’s faster […]