China’s digital currency will launch in two to three months, said founding managing partner of HCM Capital Jack Lee. Founding managing partner of HCM Capital, the private equity arm of electronics manufacturer Foxconn, Jack Lee, says China’s Central Bank Digital Currency (CBDC) is ready and expects it to launch in two to three months. During…
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Singapore’s central bank and state investment firm have created a prototype multi-currency blockchain-based payments network together with JPMorgan. Singapore’s central bank and state investment firm have created a prototype multi-currency blockchain-based payments network together with JPMorgan. A Nov. 11 report from The Business Times indicates that the prototype is designed to enable payments denominated in…
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Malaysia’s 2020 cash restrictions will affect everything except humanitarian aid and regulated financial institutions. Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial…
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A senior U.S. federal official argued that Facebook’s Libra highlights the need for the FED to urgently launch its own real-time payments system — FedNow. A senior United States federal official has argued that Facebook’s Libra highlights the need for the Federal Reserve (Fed) to act urgently and launch its own real-time payments system. In…
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Libra will be a “journey of years and decades” and not a payment service like PayPal but more of an interoperability protocol like email, says Calibra’s VP of product. Facebook’s crypto project Libra will be more similar to email tech than payment services such as PayPal, vice president of product at Calibra said. Speaking at…
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Business-to-business cross-border payments carried out on a blockchain will exceed $4.4 trillion by 2024, after reaching $171 billion this year, says Juniper Research. The value of Business-to-Business (B2B) cross-border payments carried out on a blockchain will exceed $4.4 trillion by 2024, after reaching $171 billion this year. According to a press release published by Juniper…
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Keeping track of your crypto transactions can be crucial for some much-needed peace of mind. How can I be informed of what’s happening with my crypto transactions? Some crypto exchanges are aiming to deliver full transparency to their users. This attitude toward openness can be especially beneficial for users who are using Bitcoin and other…
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The Chinese central bank has introduced a new system to certify 11 different types of fintech hardware and software pertaining to digital payments. China’s central bank, the People’s Bank of China (PBoC), will use a new system to certify 11 types of fintech hardware and software products relating to digital payments. On Oct. 29, the…
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Ethereum-based decentralized stablecoin DAI is now spendable where Visa cards are accepted and Tether sees more use by e-commerce organizations. Ethereum-based decentralized stablecoin DAI is now spendable where VISA cards are accepted and leading stablecoin Tether (USDT) is seeing increasing use by e-commerce organizations. DAI now usable in E.U. stores According to a press release…
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The head of Calibra — the wallet for Facebook’s Libra stablecoin — said that the network will have better money laundering standards than most other payment networks. Calibra CEO David Marcus recently claimed that the Anti-Money Laundering (AML) standards of Libra — Facebook’s proposed stablecoin project — will be better than other payments networks. Citing…
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