Payments News

On The Web

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Systems

NYDIG Taps Fintech Firm Moven to Bring Bitcoin to Your Bank

“Digital asset manager NYDIG is joining forces with banking technology provider Moven to offer plugins for banks that want to launch bitcoin products.  The move comes in the wake of several letters from the U.S. Office of the Comptroller of the Currency giving banks the green light to custody crypto and the ability to conduct […]
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Systems

OCC Says Banks Can Issue Payments Using Stablecoins

“Federally regulated banks can use stablecoins to conduct payments and other activities, the Office of the Comptroller of the Currency (OCC) said Monday. The federal banking regulator published an interpretive letter addressing whether national banks and federal savings associations could participate in independent node verification networks (INVNs, otherwise known as blockchain networks) or use stablecoins. […]
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Systems

Digital Currency Expands Retail Footprint

“Digital currency could play a bigger role in the retail tech world in 2021, and the latest evidence of that comes from Coin Cloud, a digital currency machine (DCM) provider. It announced that it has installed its 1,250th kiosk. This milestone for Coin Cloud coincides with widespread digital currency adoption, the company said.”
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Systems

US Lawmakers Introduce Bill That Would Require Stablecoin Issuers to Obtain Bank Charters

“A new U.S. congressional bill would require stablecoin issuers to secure bank charters and secure regulatory approval prior to circulating any stablecoins. U.S. Representatives Rashida Tlaib (D-Mich.), Jesús “Chuy” García (D-Ill.) and Stephen Lynch (D-Mass.) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act on Wednesday, writing in a press release that it would […]
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Companies

Facebook’s long-awaited libra currency to reportedly launch in a limited form early next year

“Libra, a new cryptocurrency being created by Facebook and others, could launch as soon as January but in a limited format, according to a report from The Financial Times, which cited sources familiar with the matter. The Libra Association, which has 27 members including Facebook, was planning to launch digital versions of several traditional currencies. […]
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Systems

Facebook’s Libra Must Not Start until Properly Regulated – G7 Draft

“Financial leaders of the world’s seven biggest economies will say on Tuesday that they oppose the launch of Facebook’s Libra stablecoin until it is properly regulated, a draft G7 statement showed. The draft, prepared for a meeting of finance ministers and central bankers of the United States, Canada, Japan, Germany, France, Italy and Britain, said […]

On The Wires

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Global

Circle Partners with Bolivarian Republic of Venezuela and Airtm to Deliver Aid to Venezuelans Using USDC

“Through a collaboration with the Bolivarian Republic of Venezuela, led by President-elect Juan Guaido, U.S.-based fintech innovator Airtm, and coordination with the US government, we were able to put in place an aid disbursement pipeline that leveraged the power of USDC — dollar-backed, open, internet-based digital currency payments — to bypass the controls imposed by […]
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