Clearly Payments

AUGUST 24, 2024

World Bank data indicates that global remittances reached $794 billion in 2023. Over 15,000 businesses worldwide accept Bitcoin payments as of 2024. Digital cash, whether in the form of cryptocurrencies or central bank digital currencies (CBDCs) , promises to redefine the future of money.

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PYMNTS

DECEMBER 18, 2020

But the race is still on for central banks to develop their own digital versions of fiat to take their place alongside bills and coins. To that end, the Bahamas may stand out as an epicenter of sorts for the rise of central bank digital currencies (CBDCs). Central Banks Around the World Eye CBDCs.

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PYMNTS

FEBRUARY 21, 2020

Sweden’s Riksbank is assessing e-krona, a new form of digital currency that hopes to take the country a step closer to the creation of the world’s first central bank digital currency (CBDC), according to reports on Thursday (Feb. CBDCs are a digital form of traditional money issued and governed by a country’s central bank.

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PYMNTS

NOVEMBER 10, 2020

Scan the headlines over the past few weeks and cryptos, well beyond the marquee bitcoin, are making inroads into mainstream consumer and business activities. PayPal is opening its network to allow consumers to shop using cryptocurrency. Square bought $50 million of bitcoin. The mechanics and clumsiness of it all have not helped.

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PYMNTS

NOVEMBER 23, 2020

The upgrade will reportedly make the coin more secure and quicker, meaning “more people and businesses can use ethereum for economic activity, rather than just financial trading,” Ross Middleton , co-founder of cryptocurrency exchange DeversiFi, told Reuters. Bitcoin rose above $18,000 last week for the first time since Dec.

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PYMNTS

JULY 10, 2019

The European Central Bank (ECB) opened up about cryptocurrency and said it wouldn’t recognize it as an actual currency, according to reports. The bank also said it didn’t have any plans to put bitcoin into its reserves. The statement underpins the bank’s ongoing icy stance on cryptocurrency in general.

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PYMNTS

JULY 16, 2020

In other news, Thailand’s central bank has arrived at the third step of its central bank digital currency (CBDC) formation and seeks to have greater use of the cryptocurrency by big companies, The Nation Thailand reported, citing a Bank of Thailand (BOT) official. million in bitcoin and $30,000 in U.S.

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PYMNTS

JUNE 15, 2020

Korea’s central bank has rolled out a legal advisory group to look at potential challenges to bring a central bank digital currency (CBDC) to fruition, The Korea Times reported. The panel’s start is a portion of the first stage for the Bank of Korea’s (BOK) plan to create a CBDC.

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Payments Source

NOVEMBER 9, 2020

Bitcoin has underpinned the next generation of currencies, while showing that central banks are not necessarily needed as administrators or gatekeepers.

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PYMNTS

DECEMBER 30, 2020

At a time when 90 percent of Americans have never owned bitcoin and nearly 70 percent say they have no plans to do so in the future, the thought of widespread adoption and usage of cryptocurrency seems to be a distant prospect for most people. Bitcoin is awesome. Ternio CEO Daniel Gouldman , however, is not one of them. “I

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PYMNTS

APRIL 21, 2020

The Central Bank of Argentina (BCRA) is trying out blockchain in a new clearing system, and the technology could eventually be used by other large banks, according to CoinDesk. The technology is based on the RSK Smart Contract Network, and IOV made it in connection with the central bank and others, like Santander and BBVA.

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PYMNTS

DECEMBER 27, 2020

The price of bitcoin has passed $28,000 on Sunday (Dec. In a continuing showing of the strength of the cryptocurrency, bitcoin is now valued at $500,000, according to the report. With the new updates, holders of bitcoin can cash out their money at Cashzone ATMs, which are the country's most widely-used machines.

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PYMNTS

JANUARY 14, 2021

Bitcoin is about to get even more scrutiny by regulators, on a global stage. At least it seems so, if recent comments by European Central Bank President Christine Lagarde are any indication. As reported by Reuters this week, Lagarde said at a conference sponsored by the newswire that bitcoin should be regulated — worldwide.

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PYMNTS

NOVEMBER 30, 2020

When PayPal announced recently that its 350 million users can deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants next year, it was characterized as the inevitable advance of digital currency. Bitcoin is like a [crypto] 101 version. You Can’t Spend It. Privacy And Security.

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PYMNTS

DECEMBER 4, 2020

About 10,000 Cubans have turned to bitcoin and altcoins, including ethereum and dogecoin, to skirt around U.S. They convert their fiat currency into cryptocurrency, which middlemen in Cuba then bid on and pay for in cash to the sellers’ family members in Cuba. Berlin-based Kapilendo will manage the fund’s secure asset storage.

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Fintech Review

APRIL 24, 2024

“CBDCs” or Central Bank Digital Currencies are gaining significant traction. They represent the digital form of a nation’s official currency, issued and regulated directly by the central bank. The Advantages of CBDCs CBDCs promise to significantly enhance the efficiency of financial transactions.

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PYMNTS

MARCH 16, 2020

Alexey Guznov, the Bank of Russia’s head of legal office, said in an interview with a news agency in the country that the institution didn’t think the trading and issuance of digital currency should be legal in its borders. The individual received a penalty of $1,570 and jail time of three years.

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PYMNTS

AUGUST 5, 2020

Bitfinex announced a reward for anyone who can put the cryptocurrency exchange in touch with the hackers who made a transfer of nearly 120,000 bitcoins in 2016, according to a statement. Bitcoin prices have rocketed by nearly 60 percent in 2020. The price of bitcoin was $11,204.20 as of 7:48 p.m.

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Payments Source

MARCH 22, 2019

One of Bitcoin’s sharpest critics highlighted the risks of central banks issuing their own digital currencies to the general public, saying it could undermine both financial stability and monetary policy-making.

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Central Bank Digital Currency Bitcoin Risk 71

PYMNTS

MARCH 30, 2018

With fresh concerns about government regulation of cryptocurrency surfacing, Bitcoin and other digital tokens continued the recent declines in value, erasing $550 billion in value for the global cryptocurrency market since the start of 2018. That exchange provides pricing for CME’s bitcoin futures.

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PYMNTS

MAY 27, 2020

But the question arises: Once they’ve been created and backed by central banks, what do you do with them once you have them? As noted in this space last week, about 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) are working on central bank digital currencies (CBDC).

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PYMNTS

NOVEMBER 23, 2020

Consumers are moving to digital payments and cryptocurrency in droves, and it’s inevitable that more central banks will issue digital forms of currency, PayPal CEO Dan Schulman said in a televised interview on Monday (Nov. And I think you’ll have more and more utility happen with cryptocurrencies,” he predicted.

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PYMNTS

NOVEMBER 12, 2020

In other news, the price of bitcoin exceeded the $16,000 price level on Thursday for the first time in nearly three years, CNBC reported. Bitcoin last exceeded the $16,000 price point on Jan. The price of the cryptocurrency was $16,301.03 as of 7:17 p.m. Eastern time Thursday, according to CoinDesk.

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PYMNTS

DECEMBER 10, 2019

Policymakers at the European Central Bank (ECB) will meet in Frankfurt on Wednesday (Dec. Lagarde has vocalized that she favors central banks releasing electronic money. Bank of England Governor Mark Carney has even implied that an international central bank coin could supersede the U.S.

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PYMNTS

JUNE 18, 2019

Economist Nouriel Roubini has called out Facebook ’s soon-to-be announced cryptocurrency, GlobalCoin, saying it is not really crypto. “It Fully private, controlled, centralized, verified and authorized by a small number of permissioned nodes. Russia’s central bank might one day launch its own digital currency. she asked.

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PYMNTS

MAY 24, 2018

Bitcoin dropped below the $8,000 level on Wednesday (May 23), MarketWatch reported. The cryptocurrency was $7,522.24 But bitcoin wasn’t alone: Other major cryptocurrencies fell more than 10 percent. In other news, MIT is at work on a project involving bitcoin’s lightning network, CoinDesk reported.

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PYMNTS

JANUARY 5, 2021

Trading volumes on cryptocurrency exchanges have been doing extraordinarily well this week, hitting a new record volume of $68.3 Bitcoin reached $34,800 on Sunday (Jan. Bitcoin reached $34,800 on Sunday (Jan. Bitcoin had seen a string of days in which it continually broke records, passing $20,000 on Dec.

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PYMNTS

MARCH 22, 2019

Agustin Carstens, the general manager at the Bank for International Settlements , said that banks shouldn’t issue their own bitcoin-like tokens because it could undermine global financial stability, as well as monetary policy, according to a report by Bloomberg.

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PYMNTS

SEPTEMBER 15, 2020

District Court against four people for allegedly “fraudulently soliciting funds” from individuals to attempt to wager on changes in the price of bitcoin, according to a press release. Vitas Vasiliauskas , the governor of Lithuania’s central bank, told Bloomberg, “I’m curious how popular this is going to be among Governing Council members.”.

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PYMNTS

JUNE 21, 2019

The head of Germany’s central bank warned about stablecoins, which are cryptocurrencies tied to traditional currencies, according to a report by Reuters. Jens Weidmann said that if the new currency becomes widely used, it could undermine banks. This might disrupt transaction banking and financial market intermediation.”.

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Central Bank Money Laundering Stablecoins Digital Currency 59

PYMNTS

DECEMBER 26, 2019

The Bank of Russia has been testing stablecoins that are attached to real assets, according to reports. The head of the bank, which is Russia’s central bank, said just because they’re testing the coins doesn’t mean they will eventually turn into a money substitute. “We Meanwhile, on Jan.

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Stablecoins Central Bank Rules Bitcoin 52

PYMNTS

JANUARY 18, 2021

After announcing that it was hit by a cyberattack in December, Russian cryptocurrency exchange Livecoin announced in a note that it is shutting its business and refunding its clients. Other than, you know, gold, bitcoin. Flynn purchased bitcoin for his roughly 450 clients, the report stated. Unless the U.S. Unless the U.S.

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PYMNTS

NOVEMBER 10, 2020

Treasury Department is researching use cases for a central bank digital currency (CBDC), as well as drafting regulatory proposals for private stablecoins, U.K. Regulators are slow, and there’s a reason we’re slow,” she said, speaking at CoinDesk ’s Bitcoin for Advisors event. “We

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PYMNTS

OCTOBER 9, 2020

Beyond bitcoin – that marquee name of crypto and its brethren, which have yet to escape wild price swings and speculative fervor – lies the prospect of CBDCs. Korea’s central bank is seeking partners for its central bank digital currency pilot for a digital won. Fed, the Swiss National Bank and others.

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PYMNTS

NOVEMBER 17, 2020

Bitcoin is briskly getting close to the peaks that brought about a crypto madness and concluded with a dramatic market downfall nearly three years prior, Bloomberg reported. Digital currency enthusiasts have been witnessing bitcoin rise all year, and a number of them are targeting the December 2017 high of nearly $20,000.

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PYMNTS

JUNE 25, 2018

Schweizerische Nationalbank Board Director Thomas Moser said he doesn’t think it’s the right time to talk about issuing a national cryptocurrency for the country. He added that there is also the possibility that bitcoin will be replaced by another crypto sooner or later. Something similar has to happen with bitcoin.

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Payments Source

NOVEMBER 30, 2017

Not so fast, bitcoiners. Randal Quarles, the Federal Reserve official who oversees Wall Street, says central banks are a long way off from embracing cryptocurrencies as a means of paying for things.

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