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Will National Payment System Interoperability Pull the Rug From Under Stablecoins?

The Fintech Times

As national payment infrastructures become more interoperable and networked on a regional, and soon global, scale, stablecoins may start to lose their perceived ‘indisputable’ advantages in the cross-border sector. Cue interoperable national payment schemes. Stablecoins have not. At least, not yet.

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Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion

PYMNTS

He stated that the Figure Pay account will be interoperable with other accounts and payment methods (bypassing some of the vagaries of “closed” systems like MCX, now long-defunct). He added that, even in the absence of interchange (where several parties get a piece of the fee), blockchain-based transactions exist only between two parties.

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How Treasurers Can Prepare For A Real-Time Payments Ecosystem

PYMNTS

That blog post, Long pointed out, was published the same day that the Office of the Comptroller of the Currency (OCC) released an interpretive letter that offered guidance on banks’ and federal savings associations’ ability to provide crypto custody services. “This is not a short-term prospect,” said Long.

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A Regulator’s View Of Faster Payments

PYMNTS

We will probably emerge with a more cohesive and interoperable set of systems (or rails) that will allow greater flexibility. The OCC is, of course, not alone in its focus on Faster Payments. What’s happening in the movement toward Faster Payments.

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New Regulations Could Push US Dollar Stablecoins Into The Payments Mainstream

PYMNTS

As noted in this space earlier in the month, the Office of the Comptroller of the Currency (OCC) said that banks can utilize stablecoins in transactions, among other banking activities. But those same payments mechanisms must be in compliance with various regulatory and legal frameworks. Many of the questions are around, ‘how does USDC work?

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FinTech Firms On The New FinTech Charter

PYMNTS

Getting bogged down in a maze or taking unnecessary risks — the current climate for FinTech in the United States often leaves players with only those two stark choices, according to Bruce Parker, founder and CEO of Modo , which describes itself as a “cloud-based utility” that enables payment system interoperability.