Crypto payments are often seen as a way to boost adoption, but is adoption growing if the business sells crypto right back? The answer is complex. Cryptocurrency enthusiasts often argue that businesses need to start accepting crypto as payments for adoption to grow — boosting usability and potentially creating strong demand for these currencies. Some…
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The BOK 2022 Payment and Settlement Systems Report is a forward-looking document with ambitious plans for financial technology in the country. The South Korean central bank (BOK) has published its 2022 Payment and Settlement Systems Report. Oversight of the systems was carried out successfully, the report said, and it is getting ready for a future…
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The state-owned financial institution Bank of China has revealed a partnership with China Unicom and China Telecom in order to test SIM cards and near-field communication (NFC) payments tethered to the renminbi. The Bank of China explains that the pilot will be tested by selected users and areas and it currently only supports Android phones.…
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Deposits on mobile payment apps may not be insured by the FDIC, and customers may not know whether their money is insured or not. Keep your money in an insured account, not on an uninsured payment app, the United States Consumer Financial Protection Bureau (CFPB) warned Americans in a report released June 1. The increasing…
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According to Strike CEO Jack Mallers, the expansion drive aims to counter the “clouded world of crypto exchanges and hidden, unregistered licensing regimes and 1,000 different coins.” Strike, a Chicago-based Bitcoin (BTC) payment provider, expanded its services to 65 countries in parallel to relocating its global headquarters to El Salvador. Before its expansion, the mobile…
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Personalized offers, financing loans, insurance, seamless payment and preferred payment mode were key features that came out as top priorities for customers. A new study by Decta highlighted the importance of embedded finance features in today’s fintech world. With online shopping and digital payments becoming a norm, the study pointed toward some key drivers for a seamless…
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Mexico has a burgeoning crypto remittance market that has immense potential. Mexico is the second-largest recipient of remittances in the world, according to 2021 World Bank statistics. Remittances to the nation jumped to a record $5.3 billion in July, which is a 16.5% increase year-over-year compared to the same period last year. The steady growth…
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We’re saying farewell to the World Economic Forum Annual meeting by demonstrating the real-world utility of crypto payments. With the World Economic Forum (WEF) Annual Meeting drawing to a close, attendees had the opportunity to join Cointelegraph for a farewell party at Ex Bar in Davos — where they could actually pay for food and…
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The Fed vice chair told the House Financial Services Committee that a CBDC offers stability, interoperability in increasingly complex economic system. United States Federal Reserve vice chair Lael Brainard submitted a written statement in advance to the Financial Services Committee’s virtual hearing, “On the Benefits and Risks of a U.S. Central Bank Digital Currency (CBDC),”…
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“I guess we have a concern that [the Reserve Bank of India] may be actually in violation of the Supreme Court ruling,” said Coinbase CEO Brian Armstrong. Just three days after debuting in the Indian market, United States-based crypto exchange Coinbase abruptly stopped using United Payments Interface (UPI), the most popular payment service in the…
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