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Meanwhile, McGilloway joins from cross-border payments platform Terrapay. Previously at Capital One and Amazon, Husaini will play a pivotal role in scaling Marqeta’s AI organisation to help increase purchasing power by reducing risk and improving consumer and commercial rewards, while also helping accelerate innovation.
This means that for every digital token issued, an equivalent amount of fiat currency (or highly liquid, low-risk assets like cash equivalents and short-term government bonds) is held in reserves by the issuer. This initiative positions Stripe to enhance its payment processing capabilities, particularly in cross-border transactions.
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