Payments News

On The Web

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Systems

Stablecoins Steal the Limelight From Subdued Bitcoin

“As bitcoin, the world’s largest cryptocurrency, struggles to recover after a massive crash, regulatory and private sector focus has turned to another part of the digital currency world: stablecoins. The past week saw Meta Platforms Inc (FB.O) pilot its stablecoin payments wallet , while the world’s largest payments processor Visa (V.N) launched a crypto advisory […]
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Systems

WhatsApp Launches Cryptocurrency Payments Pilot in the US

“WhatsApp has launched a new pilot that lets a “limited number” of people in the US send and receive money from within a chat using cryptocurrency. The feature is powered by Novi, Meta’s digital wallet that launched as a pilot six weeks ago , with payments made using Pax Dollars (USDP) , a stablecoin pegged […]
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Systems

The Decentralization in DeFi Just an Illusion, BIS Says

“The Bank for International Settlements (BIS), in its Quarterly Review published Monday , encouraged policymakers to step in and regulate decentralized finance (DeFi) before it potentially picks up steam and becomes more heavily linked with the traditional finance market.The report cited high leverage, liquidity mismatches, interconnectedness and the absence of shock-absorbing capacity traditionally offered by […]
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Systems

Senate Banking Chair Queries Crypto CEOs

“Brown is asking companies to describe the processes customers must undertake when purchasing, exchanging and redeeming stablecoins for U.S. dollars — and any related limitations. He also wants data — particularly, how many coins each company has issued, how many have been redeemed, and the details of any reviews or studies the companies have conducted […]
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Systems

Why New York Community Bank Is Minting Stablecoins

“For Andrew Kaplan, the chief digital and banking as a service officer at New York Community Bancorp, the reasons to make his bank the first to mint a new stablecoin called USDF were clear. The bank has begun working with Figure Technologies to issue a stablecoin, a digital asset that is always equal to a […]
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Systems

US Region to Get Blockchain-powered Local Digital Currency

“Consumers in the Berkshires region of western Massachusetts in the US will soon be able to make in-store and online purchases and carry out person-to-person transactions using a digital version of the BerkShares local currency. Users of the digital BerkShare will be able to download a mobile app, link it to their bank account and […]

On The Wires

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Systems

ConsenSys Partners With Mastercard | ConsenSys

“Today, ConsenSys , the leading Ethereum software company, announced the launch of ConsenSys Rollups, to provide enterprise-grade scalability to leading financial organizations and others, addressing the key challenge of scalable applications on the Quorum tech-stack. ConsenSys leveraged the expertise of Mastercard’s engineering team to design the ConsenSys Rollups solution.”
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Systems

Circle Launches USDC on Avalanche to Drive DeFi Adoption

“Circle , a global internet finance firm that provides internet-based payments and financial infrastructure to businesses of all sizes and principal operator of USD Coin (USDC), today announced native support for USDC on the Avalanche public blockchain- an eco-friendly, decentralized smart contracts platform empowering the next generation of Decentralized Finance (DeFi) with low fees and […]
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Global

JCB and Datachain Start Demonstration Experiment to Build a “Digital Currency Exchange Platform”

“JCB Co., Ltd., Japan’s only international payment brand, and Datachain has started a demonstration experiment on interoperability between different blockchains(*1) to build a “digital currency exchange platform”…As the first stage of the joint research, JCB and Datachain, which has expertise in interoperability technology, have been discussing the technical usefulness of a method for interoperability between […]
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Domains

Shinhan Bank to Conduct Stablecoin International Remittance PoC on Hedera Network, in Partnership With Major Multinational Bank

“Shinhan Bank , the leading bank in South Korea, today announced that it has completed the development of a proof-of-concept, with a global megabank outside of Korea, built on the Hedera network, leveraging stablecoins and focused on international remittances. Utilizing the Hedera Token Service (HTS) and Hedera Consensus Service (HCS), the project aims to test the […]