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Systems

Kansas City Fed’s George Says FedNow to Be Ready in 2023 | ABA Banking Journal

“Esther George, president and CEO of the Federal Reserve Bank of Kansas City today announced that the FedNow payment system is now expected to be ready in 2023. In a conversation with American Bankers Association President and CEO Rob Nichols at ABA’s Annual Convention, George said the FedNow payment system will be delivered “sooner rather […]
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Systems

New York Orders Crypto Lenders to Close Operations in State

“New York’s attorney general ordered two unlicensed cryptocurrency lending platforms to cease operating in the state as authorities continue to clamp down on crypto firms over fraud concerns. The names of the companies were not disclosed. In an order, the Office of the Attorney General said it had evidence that the platforms were illegally selling […]
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Systems

Facebook’s Novi Taps Paxos, Coinbase Ahead of Diem Rollout

“Facebook’s Novi wallet is ready to launch – but it won’t be launching with the Diem (formerly Libra) stablecoin. Novi, Facebook’s digital wallet subsidiary, will go live in the U.S. and Guatemala in a pilot program, allowing users to start trading the Paxos Dollar (USDP), the social media giant announced Tuesday. Crypto exchange Coinbase will […]

On The Wires

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TNM Mpamba and Mastercard Empower Millions of Consumers in Malawi to Make In-person and Online Payments on Global Platforms, Advancing Digital Financial Inclusion | Middle East/Africa Hub

“In a country-first for Malawi, mobile money service provider TNM Mpamba today launched a Mastercard debit card, enabling its customers – even those without bank accounts – to make safe and seamless in-person and online digital payments on the Mastercard network. Dubbed “Khadi Mbambande”, the new card is expected to enhance financial inclusion and improve access […]
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Systems

Cryptocurrency Innovators Invest in New Card Solutions, With Marqeta’s Modern Card Issuing Platform Powering Growth of New Category

“Marqeta (NASDAQ: MQ), the global modern card issuing platform, announced today that it is powering cryptocurrency spending and rewards products for Coinbase, Fold, Shakepay and Bakkt, with the company seeing rising interest in new card products in this rapidly evolving category. Use of cryptocurrencies has grown considerably in the United States, with data from the […]