Payments News

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Tech

MUFG Shutters One Blockchain Payment Business As It Double’s Down on Another – Ledger Insights – Enterprise Blockchain

“Yesterday Japan’s biggest bank, MUFG , announced it is shuttering GO-NET, the IoT payments solution it set up in 2019 as a joint venture with Akamai in which MUFG held an 80% stake. GO-NET targeted high-volume, low-value digital payments such as vending machines or micro-transactions involving IoT devices.  Meanwhile, in an entirely different venture, MUFG […]
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Tech

JPMorgan, Toshiba, Ciena Find New Way to Protect Blockchain With Quantum Network

“A team of quantum computing engineers from JPMorgan Chase & Co (JPM.N) , Toshiba Corp (6502.T) and Ciena Corp say they have successfully shown that a powerful, newly-developed encryption network can be used to protect communications on the blockchain, according to a paper published Thursday. The group of researchers say it is the first time […]
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Tech

Google Will Set up Blockchain Unit, Report Says

“Google is creating a group focused on the “blockchain and other next-gen distributed computing and data storage technologies,” Bloomberg reported Thursday. It previously only provided cloud services to companies working with blockchain tech , the news outlet noted, rather than engaging in it directly.”
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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 […]

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.”