Payments News

On The Web

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Global

China’s Central Bank Likely to Pilot Digital Currency in Cities of Shenzhen and Suzhou: Report – CoinDesk

“The tests are likely to include the participation of state-owned partners. These comprise the “Big Four” commercial banks – the Industrial and Commercial Bank of China, Bank of China, China Construction Bank and the Agricultural Bank of China – and three telcos, China Telecom, China Mobile and China Unicom. The pilots will see the digital […]
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Reports

Discussion paper Designing a prudential treatment for cryptoassets

“As previously indicated, the Committee is of the view that the growth of crypto-assets and related services has the potential to raise financial stability concerns and increase risks faced by banks. Cryptoassets are an immature asset class given the lack of standardisation and constant evolution. Certain cryptoassets have exhibited a high degree of volatility, and […]
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Providers

Retailers Don’t Like Paying the Fees for Your Apple Card

“That’s because the card, marketed by Apple and backed by Goldman Sachs Group Inc. , is designated “elite,” which allows it to levy significantly higher interchange fees on each swipe or tap. Those fees aren’t paid by the consumer but by the merchant as part of the cost of accepting credit cards. A grocer can […]
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On The Wires

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Systems

British Virgin Islands Announces BVI~LIFE™ Digital Currency

“Since 1959, BVI has relied on the United States Dollar as its national currency for business and consumption. In partnership with LIFElabs.io, the government is looking to implement a central digital currency powered by LIFEtoken pegged 1:1 against the United States Dollar for use within the territory. It is expected that this transition will reduce […]
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Systems

BitPay Launches Worldwide Stablecoin Payments

“BitPay , the world’s largest provider of blockchain payment services, today announced the rollout of stablecoin payments for merchants and consumers around the globe. The company supports payment acceptance and settlement in any of three popular volatility-free stablecoins, Circle’s USD Coin (USDC), the Gemini Dollar (GUSD) and Paxos Standard Token (PAX).”