Volt launches VX2, a stablecoin settlement solution
The Paypers
SEPTEMBER 12, 2024
UK-based payments platform Volt has launched VX2, a stablecoin settlement solution that integrates with Volt’s real-time payments infrastructure.
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The Paypers
SEPTEMBER 12, 2024
UK-based payments platform Volt has launched VX2, a stablecoin settlement solution that integrates with Volt’s real-time payments infrastructure.
Fintech Finance
AUGUST 27, 2024
the innovative, tech-driven payments bank, announces the launch of EURI, a bank-backed stablecoin, compliant with the Markets in Crypto Assets Regulation (MiCA). EURI is the first e-money token launched by Banking Circle and the first MiCA regulated stablecoin that is issued and backed by a bank in the EU. Banking Circle S.A.,
Fintech News
JULY 16, 2024
This development follows the earlier announcement in November 2023, where StraitsX, along with Paxos, received In-Principle Approvals (IPA) from MAS to issue stablecoins. In addition to this, StraitsX has introduced XUSD, a fiat-pegged USD stablecoin, aimed at digitising currencies essential for global trade.
The Fintech Times
AUGUST 28, 2024
the tech-driven payments bank, has launched its bank-backed stablecoin, EURI. The EURI stablecoin is the first MiCA-regulated digital asset that is issued and backed by a bank in the EU. Furthermore, it will enable us to launch stablecoins and tokenised money in the future, providing more choice and optionality for the market.”
Fintech News
JUNE 19, 2024
Stablecoins have been rising in conversation within the financial ecosystem of Singapore. As the name implies, stablecoins are digital assets designed to maintain a stable value relative to a reference asset, such as the US Dollar or gold.
Fintech News
MARCH 18, 2024
The five supported digital currencies at this stage include Bitcoin (BTC), Ether (ETH) as well as stablecoins such as StraitsX Singapore Dollar (XSGD), Tether (USDT), and USD Coin (USDC). experiences among its users in Singapore.
The Fintech Times
FEBRUARY 12, 2024
The Cambridge Centre for Alternative Finance (CCAF) has launched a new tool providing real-time data and educational resources on digital money with an initial focus on stablecoins. The stablecoin market has surged from less than $3billion in 2019 to more than $130billion in 2024.
Fintech News
SEPTEMBER 11, 2024
Initially, these will use fiat currencies, but Swift plans to eventually integrate tokenised forms of money such as central bank digital currencies (CBDCs) and stablecoins. A key focus of these developments is testing multi-ledger Delivery-versus-Payment (DvP) and Payment-versus-Payment (PvP) transactions.
CoinRemitter
JANUARY 17, 2024
There are about 9000 cryptocurrencies in the world, and over 150 of them are stablecoins, which acquire 0.08% of the cryptocurrency market. This number clearly shows the potential of stablecoins. Whenever we discuss stablecoins, we all think about USDT. But stablecoins aren’t just about Tether.
PYMNTS
NOVEMBER 25, 2020
The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Bitcoin and other offerings have not yet evolved into real alternatives to sovereign monetary activities, but stablecoins present challenges. In a paper that debuted Tuesday (Nov.
Payments Source
JANUARY 2, 2020
Stablecoins, with their instant settlement and high liquidity, averts the issues that have long plagued cross-border transactions.
BitPay
APRIL 25, 2023
We’re excited to announce that BitPay now supports Etheruem and ERC-20 Stablecoin payments for our payroll and payouts solution, BitPay Send. In addition to the usual benefits that come with crypto payouts, ERC-20 stablecoins like USDC, EUROC, USDP and GUSD provide the stability of being backed by reserves and pegged 1:1 to traditional fiat.
BitPay
APRIL 25, 2023
Stablecoins help bridge the gap between fiat currency and crypto. Ahead we’ll take a closer look at what makes stablecoins a leading option for cross-border crypto payments. Ahead we’ll take a closer look at what makes stablecoins a leading option for cross-border crypto payments. These reserves, typically held in U.S.
Payments Source
MARCH 29, 2021
said its payments network will use a stablecoin backed by the U.S. dollar to settle transactions, as blockchain technology gains more acceptance in the established financial system. ]].
The Paypers
JULY 11, 2022
Luxembourg-based Banking Circle has added USDC stablecoins to its payment rails for payment acceptance, processing, and settlement, moving into the virtual assets market.
The Paypers
SEPTEMBER 14, 2023
Open Banking payment provider Noda has chosen B2B payments platform BVNK to bring stablecoin settlements to the former’s customers across the UK and Europe.
The Paypers
JANUARY 5, 2021
The US Office of the Comptroller of the Currency has given the green light to national banks and federal savings institutions to use public blockchains and stablecoins for settlement.
The Payments Association
OCTOBER 31, 2023
The UK government has taken a significant step towards clarifying its stance on the regulation of cryptoassets, digital settlement asset firms, and fiat-backed stablecoins by publishing key documents outlining their responses to recent consultations. Read more
The Paypers
FEBRUARY 2, 2022
Solana has unveiled a set of decentralised payment standards and protocols via its new product Solana Pay, to simplify the acceptance and settlement of dollar-pegged stablecoins.
PYMNTS
JULY 26, 2020
Avanti Financial Group said in a press release that it has received permission from the Wyoming Division of Banking to begin operating in the state as a bank as early as October and plans to offer a real-time settlement solution for corporate treasurers.
The Fintech Times
FEBRUARY 27, 2024
For businesses, A2A payments promise higher conversion rates, reduced transaction costs, and real-time settlement. Looking at stablecoins and CBDCs, he says: “The next big trends in payments will be the growing, global use of USDT, USDC, and other stablecoins. Payment choice is driving innovation and efficiencies.”
PYMNTS
SEPTEMBER 21, 2020
The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are issuers of stablecoins in some cases, according to a Monday (Sept. 21) press release. Acting Comptroller of the Currency Brian P.
Fintech Finance
MARCH 27, 2024
From today, Stables users in over 130 countries can send Australian Dollars or Philippine Pesos to over 140 million people across Australia and the Philippines, all powered by stablecoins. Stables and its Founders have an unwavering belief in stablecoins to offer users speed, low-cost settlement, security and reliability for its users.
PYMNTS
SEPTEMBER 16, 2019
Global central bank officials met with leaders from both Facebook’s Libra Association and JPMorgan to discuss policies and regulation around new cryptocurrencies, the Bank for International Settlements (BIS) said in a press release on Monday (Sept. The BIS is an umbrella organization for the world’s largest central banks.
Clearly Payments
JANUARY 4, 2024
Faster Settlements: Cryptocurrency transactions are typically faster than traditional banking transactions, providing merchants with quicker access to funds. This is particularly beneficial in industries where fast transaction settlements are crucial, such as e-commerce or high-frequency trading. What are Stablecoins?
PYMNTS
JULY 6, 2018
MakerDAO, which has a stablecoin called Dai, said the token is being tested with the Tradeshift Cash solution, CoinDesk reported. With the effort, a small business could have the opportunity to change an invoice into the Dai stablecoin. The coin would be offered at a discount, and a crypto investor could purchase the token.
The Paypers
SEPTEMBER 18, 2019
(The Paypers) Wells Fargo , US-based financial corporation, has been developing a US dollar-linked stablecoin that will run on the company’s first blockchain platform.
The Paypers
SEPTEMBER 5, 2023
Visa has decided to expand its stablecoin settlement capabilities to the Solana blockchain and is engaging in partnerships with Nuvei and Worldpay.
Fintech News
DECEMBER 11, 2023
The first being the indirect model, where commercial banks manage CBDC wallets and settlements directly on the UDPN, while the central bank handles wholesale settlement between commercial banks and keeps all transaction records. The PoC explored two models. Globally, over 130 countries are exploring, developing, or have launched CBDCs.
Clearly Payments
AUGUST 24, 2024
According to the Bank for International Settlements (BIS), 114 central banks, representing over 95% of global GDP, were engaged in some form of CBDC research or development by the end of 2023. Tether (USDT) and USD Coin (USDC) are the leading stablecoins, with a combined market capitalization exceeding $100 billion in 2023.
PYMNTS
SEPTEMBER 18, 2019
financial institution Wells Fargo has announced plans to pilot an internal settlement solution that operates on distributed ledger technology (DLT). Separate reports in CoinDesk explained that the solution is a stablecoin linked to the U.S. In a press release on Tuesday (Sept. and Canada, the release noted.
Fintech News
DECEMBER 4, 2023
Bitcoin and stablecoin volumes outpaced both Mastercard and Paypal last year. All while leveraging crypto payment tech benefits that eliminate merchant pain points like chargebacks, unauthorised payments, unexpected fees and slow settlements.” We’ve removed the obstacles for businesses to quickly get started.
PYMNTS
SEPTEMBER 24, 2020
Between the Office of the Comptroller of the Currency clearing the way for financial institutions (FIs) to embrace stablecoin, and The Clearing House's latest real-time payments (RTP) push, new payment rails continue to gain traction. OCC Clears Banks For Stablecoin. Apifiny Finds Tester For Instant Settlement Network.
CoinRemitter
JULY 9, 2024
From efforts to boost oversight of stablecoin arrangements, to focus on the DeFi space, 2024 promises to be a year of crypto regulatory developments. Stablecoins will take Center Stage Stablecoins are gaining traction among financial institutions worldwide, attracting the attention of regulators also in 2024.
PYMNTS
FEBRUARY 28, 2020
According to Cunliffe, one of the dangers was that stablecoins and cryptocurrency that is linked to social media platforms could cause people to move their money away from banks and into virtual wallets. “In That would be a change with profound economic consequences.”.
Fintech News
JANUARY 23, 2024
The Bank for International Settlements (BIS) has recently announced a new series of projects for its 2024 Innovation Hub programme. This initiative includes various projects, each focusing on financial technology and security aspects. Green Finance In 2024, the BIS Innovation Hub, Singapore Centre, is leading Project NGFS Data Directory 2.0,
The Fintech Times
MAY 16, 2024
. “The launch of many tokenised funds and other traditional investment products on public blockchain by major financial institutions is a very significant step – it paves the way to leverage the technology to optimise future transactions of these assets to improve efficiency, transparency and reduce costs and settlement times.”
The Fintech Times
MAY 4, 2024
It announced a fiat-to-crypto payments project which would result in a seamless checkout experience, optimised for conversion, allowing for instant settlement of crypto. It is back offering USDC stablecoin payments on Ethereum, Solana and Polygon. Four years later, in 2022, the payments company saw potential in the crypto though.
Global Fintech & Digital Assets
FEBRUARY 26, 2024
The Consultation Paper comes shortly after the Financial Services and the Treasury Bureau and the HKMA issued a consultation paper in December 2023 outlining their legislative proposal for a regulatory regime governing stablecoin issuers in Hong Kong (see this Latham blog post ). reference assets). reference assets).
CB Insights
SEPTEMBER 7, 2021
For example, Paxos (over $500M in total funding) offers a crypto asset custodial service, brokerage, exchange, and equities settlement for institutions. Capital markets: These companies leverage blockchain technology for securities issuance, trading, clearance, and settlement.
PYMNTS
AUGUST 3, 2020
Morgan’s initiatives in cryptocurrency and stablecoin technology have ramped up in recent months, for instance. One of the biggest disruptions of the payments ecosystem as a result of the growing traction of digital assets and the ubiquity of real-time settlement will be felt by corporate treasurers, Long predicted.
CB Insights
OCTOBER 29, 2020
Pioneers in this space aim to create streamlined and more transparent capital markets infrastructure by developing services like asset tokenization (using DLT to prove ownership of securities), settlement services, compliance solutions, and more. One such company is Paxos, which offers custody, payment, and clearing & settlement services.
PYMNTS
SEPTEMBER 19, 2019
And against that backdrop comes … a new settlement coin. And for the settlements, consider these stablecoins as traveling finite territory in the most recently defined uses cases – as in, intrabank. Settlement Coins, Coin of (Part) of Banking Realm. Wells Fargo said Wednesday (Sept. Also on Wednesday (Sept.
CB Insights
MAY 3, 2021
New York-based Paxos is a blockchain infrastructure platform that provides cryptocurrency services, like crypto trading and settlement or custody, to enterprises. The company offers a variety of products, like crypto brokerage APIs, settlement services, a cryptocurrency exchange named itBit, and stablecoins.
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