On The Web
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“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 […]
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. […]
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.”
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 […]
Visa Partners With Ethereum Digital Dollar Startup That Raised $271 Million
“Credit card giant Visa today announced it is connecting its global payments network of 60 million merchants to the U.S. Dollar Coin (USDC) developed by Circle Internet Financial on the ethereum blockchain. The digital currency is now valued at $2.9 billion.”
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. […]
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
nbsp;Announcing the name Diem. Executive leadership in place in preparation for launch.
“The Libra Association announces the adoption of a new name and the recruitment of key executives, reinforcing its organizational independence as it progresses toward regulatory approval for launch. Now transitioning to the name “Diem”, which denotes a new day for the project, the Diem Association will continue to pursue a mission of building a safe, […]
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 […]
Fund Instant Cross-Border Payments With a Line of Credit From RippleNet
“Today, Ripple launched Line of Credit , a new beta service on RippleNet that allows customers using On-Demand Liquidity (ODL) to source capital on demand to initiate cross-border payments at scale using the digital asset XRP.”