Payments News

On The Web

nbsp;

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 […]
nbsp; nbsp; nbsp; nbsp; nbsp;

Companies

Libra Association Forms Steering Committee to Guide Technical Development

“The Libra Association — the government body of the eponymous stablecoin introduced by Facebook in late 2019 — has formed a new committee to guide the network’s technical development. According to an announcement on Jan. 16, the Libra Association has voted to establish the five-member Technical Steering Committee which comprises leading experts from various firms in the fintech […]
nbsp;

Systems

Why Facebook Still Wants to Invade the Payments Space

“Facebook has a longstanding interest in payments, and has already made a considerable amount of money from its payments activities. Consider that the social network produced $269 million from “payments and other fees” in the third quarter of 2019, a respectable haul. However, Facebook’s payments revenue has remained relatively flat for the last several years. […]
nbsp;

On The Wires

nbsp;

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).”
nbsp;

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 […]