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XWeave , a startup developing infrastructure for stablecoin-based cross-border payments, has raised US$3 million in seed funding. Additional investors include White Star Capital, Fabric Ventures, DigitalCurrency Group (DCG), The Venture Dept., and several angel investors. said Milind Sanghavi, Founder and CEO of XWeave.
Ripple, the leading provider of digital asset infrastructure for financial institutions, announced that Ripple USD (RLUSD) will be available on global exchanges starting December 17, 2024. RLUSD is available on both the XRP Ledger and Ethereum blockchains, offering flexibility and scalability for various financial use cases.
PayPal USD (PYUSD), PayPal ‘s USD stablecoin, will now be available on the Solana blockchain. The news was announced at Consensus 2024 , the long-running cryptocurrency, blockchain and web3 event. ” The simplified experience of PayPal and Venmo wallets shows PYUSD as a unified balance regardless of the blockchain.
Looking to bridge the world of fiat and digitalcurrencies, Fipto , a blockchain-based payment infrastructure, is looking to make it easier for firms to integrate stablecoins and optimise existing global payment flows using blockchain.
Ozean , a blockchain for Real-World Assets (RWA) yield launched by Clearpool , is joining forces with First Digital , a Hong Kong-based group offering global multi-asset custodial, trust, payments and stablecoin solutions, as part of WakeMaker, Ozean’s accelerator programme.
The partnership’s first phase includes the launch of the dtcpay Visa Infinite card, allowing users—particularly ultra-high-net-worth (UHNW) individuals—to convert digitalcurrencies like stablecoins into fiat at real-time rates. Public registration for the dtcpay Visa Infinite card is expected in Q4 2024.
Siam Commercial Bank ( SCB ), alongside its venture arm SCB 10X and Lightnet , has launched Thailand’s first cross-border payment system utilising stablecoins, according to CoinGape. The use of stablecoins also streamlines currency conversion processes, facilitating easier transfers between digital and local currencies.
PayPal’s stablecoin, PayPal USD (PYUSD), was officially added to the Solana Blockchain last week. This shift comes after the California-based company launched on Ethereum blockchain last summer. Now, PayPal stablecoin users can send PYUSD on Ethereum or Solana when transferring out to external wallets.
It’s been more than a year in the making — with no shortage of caution and criticism by lawmakers and regulators here in the states and in Europe — but Libra, the digitalcurrency backed by Facebook and a revolving cast of other tech firms, could debut as early as next month. Morgan stablecoin, known as JPM Coin, geared toward B2B.
Southeast Asian ride-hailing super app Grab has teamed up with licensed crypto payments provider Triple-A to introduce a feature that allows its users to top up their GrabPay Wallets using Digital Payment Tokens. The supported stablecoins at this stage include StraitsX Singapore Dollar (XSGD), Tether (USDT), and USD Coin (USDC).
Furthermore, the report takes a forward-looking approach, incorporating forecasts for 2025 and exploring pivotal themes such as artificial intelligence in payments, the evolution of tokenisation and decentralised finance (DeFi), and the adoption of emerging technologies like blockchain, generative AI, and machine learning.
The crypto payment adoption is growing rapidly across the European Union (EU), with stablecoins being widely used as a preferred cryptocurrency among businesses. The Rise of Stablecoins in Europe With the evolving global financial landscape, European businesses are aggressively turning to cryptocurrency payments for more efficiency.
Ripple, a provider of enterprise blockchain and crypto solutions, plans to introduce a stablecoin tied directly to the US dollar (USD), pending regulatory approvals. With the stablecoin market currently valued at approximately US$150 billion and expected to soar to over US$2.8
Cryptocurrency platform startup Circle has overhauled its network to advance mainstream trading, while its stablecoin USDC has surpassed three billion in circulation, growing by nearly 500 percent in 2020. “At He said the public blockchain will take digital dollar stablecoins mainstream.
The idea that digital assets are exclusively some form of currency has been slowly dispelled, as new use cases emerge and are rapidly adopted across the globe. But digitalcurrencies are far from irrelevant. CBDC overview across the MEA region in 2024 But why are so many countries adopting CBDC initiatives?
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.
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.,
This initiative aims to offer users more convenience by enabling the conversion of digitalcurrencies into spendable funds within their GrabPay Wallets. This top-up method went live on 12 March 2024. experiences among its users in Singapore. experiences among its users in Singapore.
The growing adoption of stablecoins across Asia marks a significant shift in the regions financial landscape. dollar-pegged stablecoins like USDT and USDC primarily dominate the cryptocurrency topography. Operating on Ethereum and other blockchain networks, XSGD boasts a market cap exceeding $18 million. Traditionally, U.S.
Singapore embraces digitalcurrencies, combining cutting-edge innovation with solid regulations to ensure a safe trading environment. Cryptocurrency is a digitalcurrency form that uses cryptographic technology to secure transactions and control the creation of new units. Youre in the right place. What is Cryptocurrency?
BVNK , the stablecoin payments provider, announced today that it has enabled Swift payments on its platform, so businesses can move easily between US dollars, Euros and stablecoins like USDT, USDC and PYUSD. By bringing together bank and blockchain payment rails and currencies in a single platform, we enable this for our customers.
Blockchain has the potential to disrupt nearly every industry. Among plenty of emerging use cases, the technology aims to create a new and improved payments system for the world — one that’s secure, transparent, decentralized, fast, and uses cryptocurrencies (types of digital cash) as a means of exchange. What are stablecoins?
The age of digitalcurrencies 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.
Visa will provide a credit card that allows companies to make and get payments with the digitalcurrency via the card once Circle graduates from Visa’s Fast Track initiative. As it stands, the payment firm has onboarded 25 digitalcurrency wallet companies with its Fast Track program such as Cred and Fold. “We
The Singapore-based fintech announced this week that it is planning to expand its crypto offerings in 2025 to include both a stablecoin and an exchange-traded fund (ETF) product. “Blockchain payment adoption is growing because it offers an easy way to send and receive payments on a global scale,” Pair said.
May Zabaneh, VP of Product at PayPal The ability to send a payment over the blockchain in seconds at a fraction of the cost was simply incredible. In late 2020, PayPal took its first crypto leap, letting users buy, sell, and hold select digitalcurrencies within their accounts. PYUSD is now on both Ethereum and Solana.
customers to utilise PayPal USD (PYUSD) , a stablecoin pegged to the U.S. To make use of PYUSD for funding transactions, users must have a sufficient balance of the stablecoin in their PayPal Cryptocurrency Hub. Xoom, a subsidiary of PayPal specialising in cross-border money transfers, has enabled U.S. Enabling U.S.
In Asia-Pacific (APAC), the payment landscape is rapidly evolving, driven by the integration of advanced technologies, growing use of alternative payment methods and the rise of digitalcurrencies. Total spending in the region for digital wallets amounted to almost US$10 trillion in 2023, led mostly by China.
Initially, these will use fiat currencies, but Swift plans to eventually integrate tokenised forms of money such as central bank digitalcurrencies (CBDCs) and stablecoins. Swift is also addressing the growing fragmentation in the digital asset ecosystem.
Blockchain companies raised more venture capital and private equity funding in H1’21 than any full year in history. download our best of blockchain research. download our best of blockchain research. But blockchain’s potential extends well beyond crypto and NFTs. First name. Company name. Phone number.
Much has been written about how delivering fiat currenciesdigitally can boost financial inclusion and perhaps streamline financial services. The blockchain has been touted as the solution for any host of information and asset transfer issues — due in part to the fact that data in a blockchain cannot be altered (i.e.
Dapper Labs will be partnering with peer-to-peer firm Circle to help add payment methods for digital collectibles using credit and debit card payments to settle in the stablecoin USD Coin (USDC), according to a blog post from Circle. Up to now, paying for digital collectibles on blockchain relied on cryptocurrency payments.
PYMNTS examines the latest initiatives that look to improve upon existing rails, or embrace new ones like blockchain and RTP. Mastercard Leads Central Bank DigitalCurrency Test. Zero Hash is a digital assets technology company offering solutions for FIs and other service providers in a Software-as-a-Service business model.
Walmart has filed a patent application for a digitalcurrency that, like Facebook's Libra, would be a stablecoin backed by traditional currencies. And it envisions a very specific use case where its coin could stand in for cash — or even for a bank account.
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.”
In recent years, digitalcurrencies have been all the rave. However, the idea that digital assets are exclusively some form of currency is slowly falling by the wayside as different use cases are emerging and being rapidly adopted. Explore which countries are leading the stablecoin race and why.
Among these, the integration of blockchain and stablecoins in cross-border payments and treasury management emerged as a central theme. Four or five years ago, digital assets were mostly about speculation, she noted. Our clients are already transacting in stablecoins like USDC, USDT and RLUSD.
In an effort to help WhatsApp users transfer money, Facebook is reportedly creating a digitalcurrency. Unnamed sources told Bloomberg that the company is at work on a stablecoin, which is a cryptocurrency tied to the value of the U.S. We’re exploring lots of areas of interest across all facets of blockchain technology.”.
Facebook’s blockchain division, Calibra, will get a new name as a way to distance it from Facebook’s Libra digitalcurrency, according to a Bloomberg report on Tuesday (May 26). . People were confusing Libra and Calibra all the time,” said David Marcus, Facebook’s head of blockchain. “In Stuart Levey , a former U.S.
The mainnet version of Ripple USD is also available on Ethereum, with plans to expand to additional blockchains and decentralized finance (DeFi) protocols over time. With over a decade of building enterprise financial solutions, Ripple is in an ideal position to launch a stablecoin that addresses a market projected to grow to over $2.8
Its resilience and forward-thinking approach have enabled the adoption of cutting-edge technologies like blockchain, artificial intelligence (AI), and quantum computing , reshaping financial services and setting new benchmarks for innovation. This stablecoin streamlines cross-border payments while cutting currency conversion costs.
The digitalcurrency and related distributed-ledger technologies could "enhance the efficiency, effectiveness and stability of the provision of payments," according to an interpretive letter issued by the Office of the Comptroller of the Currency.
Distributed ledger technology (DLT) — which uses tech like blockchain to verify transactions without the need for a centralized authority — is gaining traction as a way to revamp capital markets infrastructure by making it more streamlined, improving transparency, and reducing associated fees. Submit your application here before November 25.
The Central Bank of the United Arab Emirates (CBUAE) has approved new regulations for stablecoins, enabling it to integrate Dirham-backed digitalcurrencies into its financial ecosystem. But what is the significance of its latest decision regarding stablecoins? To find out, we asked a number of financial leaders.
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