On The Web

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Systems

Postal Savings Bank of China Trials Biometric Cards for Digital Currency Payments • NFCW

February 18 2021

• in
• Central bank digital currencies (CBDC)

“Chinese consumers taking part in the large-scale testing of the country’s central bank digital currency (CBDC) in Beijing over the Chinese New Year period are trialling a biometric ‘hard wallet’ card developed by the Postal Savings Bank of China . The dual payments and healthcare card incorporates a biometric sensor that enables users to verify […]

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Systems

Riksbank Extends E-krona Pilot to Test Offline Functionality – Central Banking

February 17 2021

• in
• Central bank digital currencies (CBDC)

“Sveriges Riksbank has extended its central bank digital currency (CBDC) pilot for a further 12 months, taking it to February 2022. In a statement, the central bank said the next phase of the e-krona pilot would focus on testing the offline functions of the CBDC. The Riksbank will also open up the test environment to external […]

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Systems

Merchants Want More Say As Faster Payments Develop

February 16 2021

• in
• Faster payments

“Retailers are often considered to be key beneficiaries of faster payments, but they may be among the last to reap its benefits in the U.S. The latest advancements in real-time payments are focused on banks’ use cases. The Federal Reserveis advancing its real-time settlement service through testing with banks, and Visa is piloting two artificial […]

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Companies

Diem Stablecoin Prepares for Liftoff With Fireblocks Custody Partnership

February 16 2021

• in
• Cryptocurrencies
• Facebook

“Crypto custodian Fireblocks and payments platform First Digital Assets Group are providing connectivity and support to diem, the global stablecoin and payments system formerly known as libra. Fireblocks and First are providing the digital plumbing to allow financial service providers such as banks, exchanges, payment service providers (PSPs) and eWallets to plug into Diem on […]

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Systems

Bitcoin Trades Above $50,000 for First Time

February 16 2021

• in
• Bitcoin

“Bitcoin topped $50,000 for the first time Tuesday, doubling in value in less than two months. The digital currency traded as high as $50,584.84, up about 5% for the day and more than 74% for the year, according to CoinDesk. The total market value of bitcoin in circulation rose to $940 billion. Bitcoin later receded […]

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Systems

PayPal Wants to Be a CBDC Distributor – CoinDesk

February 12 2021

• in
• Central bank digital currencies (CBDC)

“PayPal could be to central bank digital currencies (CBDCs) what private banks are to physical dollars. The company’s CEO, Dan Schulman, laid out a vision during its investor day on Thursday for PayPal’s digital wallets being the means by which central banks distributed CBDCs to consumers across income levels.”

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Systems

T-Mobile Sued Over SIM Attack That Resulted in Loss of $450K in Bitcoin – CoinDesk

February 12 2021

• in
• Bitcoin

“T-Mobile is being sued by a customer as a result of a SIM attack that resulted in over losses of over $450,000 in cryptocurrency. The plaintiff, Calvin Cheng, lost 15 bitcoin after an interaction with Brandon Buchanan, T-mobile customer and co-founder of investment fund Iterative Capital, who had been victim of a SIM-swapping attack.”

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Systems

Janet Yellen Says Innovation Can Help Fight Misuse of Cryptocurrencies and Narrow Digital Gaps

February 12 2021

• in
• Cryptocurrencies

“U.S. Treasury Secretary Janet Yellen on Wednesday warned about an “explosion of risk” from digital markets, including the misuse of cryptocurrencies, but said new financial technologies could also help fight crime and reduce inequality. In remarks to a financial sector innovation roundtable, Yellen said such technologies could be used to stem the flow of dark […]

On The Wires

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Systems

Klarna Teams up With Safello – Bringing Open Banking To Cryptocurrency Market

February 17 2021

• in
• Cryptocurrencies

“Klarna , the leading global payments provider and shopping service and Safello , Sweden’s leading broker for cryptocurrencies, today announce a strategic partnership to bring Klarna Open Banking to Safello’s award-winning brokerage platform for cryptocurrency trading. This partnership, which is Klarna’s first entry into the cryptocurrency industry, marks a new era in financial innovation.”

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Companies

Mastercard and Island Pay Launch World’s First Central Bank Digital Currency-Linked Card

February 17 2021

• in
• Cryptocurrencies
• Mastercard

“Today, Bahamians received even greater flexibility in how they shop and pay using the country’s digital currency, the first of its kind. Under a new program from Mastercard and Island Pay , the Bahamas Sand Dollar prepaid card gives people the option to instantly convert the digital currency to traditional Bahamian dollars and pay for […]