Payments News

On The Web

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Tech

JPMORGAN SETS UP BLOCKCHAIN PAYMENTS SYSTEM FOR SIEMENS

“Siemens expects the transactions volumes to continue to grow strong growth in the coming months as pay-per-use begins to gain popularity and hence the system needs to be able to handle thousands of transactions per day transparently and reliably. This is the first of its kind system to be deployed by a large company and […]
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Tech

Fnality Preps Go Live With Pledge to Slash Intraday Liquidity Costs

“Backed by some of the world’s largest banks, blockchain for payments consortium Fnality says it expects to reduce banks’ intraday liquidity requirements by 70% when it goes live next year. Developed in association with technology analytics company FNA, the ‘Fnality Participant Simulator’ has estimated the daily liquidity requirements reduction for banks when consolidating multiple existing […]
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Tech

MoneyGram Partners With Stellar and USDC for Blockchain-Based Payments

“Traditional cross-border payments giant MoneyGram is working with the Stellar blockchain network to create instant money transfers using Circle’s USDC stablecoin, the companies announced Wednesday. The firms will start with a pilot in the fourth quarter of this year. Early 2022 will see a gradual rollout of the ledger-based stablecoin bridge between crypto and local […]
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Tech

Ex-Ripple Executives Plan PingNpay, a Blockchain Micropayment Network

“London-based pingNpay, a new blockchain-based payments platform, has moved out of stealth mode by announcing its plan to launch a global micropayment network at some point in 2022. pingNPay seeks to create a new category of high frequency, low-value payments, like less than $20,  as part of a web 3.0 initiative. pingNPay is expected to start […]
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Deals

Blockchain Audit Firm CertiK Raises $37 Million in Series B Funding

“The funding comes as the demand for blockchain and smart contracts audits is increasing in the wake of hacks and attacks in the decentralized finance (DeFi) space. According to The Block Research, nearly $500 million has been stolen and lost in DeFi attacks and scams in the last year and a half. CertiK audits codes […]
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Tech

Fintech Using Blockchain to Cut Foreign Exchange Costs

“While many banks remain cautious about crypto and blockchain, the most appealing use case for these systems may be the most basic: lowering costs. With that in mind, New York-based Roxe has introduced blockchain for cross-border payments settlements. The purpose is to create Decentralized Finance, or DeFi, liquidity pools to provide the best wholesale foreign […]

On The Wires

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Tech

ASC X9 Publishes a Blockchain Risk Assessment Framework

“The document is like a “quick-start” guide for what needs to be considered when assessing existing systems or planning a new blockchain system. It offers digestible, useful and practical information for identifying how blockchain systems differ from the traditional, widely understood tools, and it poses questions to help expose areas of risk that might have […]
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Tech

BBVA to Offer Payment and Financing Services on Trusple – Ant Group’s Blockchain Platform for Global Trade

“BBVA and Ant Group (Alibaba affiliate) have signed an agreement to collaborate on the integration of financial services in their platform, Trusple. Based on blockchain technology, this network is aimed to accelerate the digital transformation and facilitate the financing of international trade operations, with a special focus on small and mid-sized businesses.”
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Companies

TRM Labs Raises $14 Million Series A Funding Round

“TRM Labs, a pioneer in blockchain intelligence, announced today that it has closed a $14 Million Series A funding round. Bessemer led the Series A with additional participation from PayPal Ventures, Initialized Capital, Jump Capital, Salesforce Ventures, Operator Partners, Blockchain Capital, and executives from Google. Other existing investors include Y Combinator, Alumni Ventures Group, The […]