Search Results for: Rails

Wirex Moves on From Defunct Wirecard, Secures New Partnership with Railsbank

Crypto payment service provider and Visa principal member, Wirex has finally moved on from Wirecard, the bankrupt payment giant, who has served as the firm’s card provider to date. Wirex confirmed the move with the announcement of a new partnership with Railsbank that will see the London-based FinTech provide Wirex cards in the APAC region. … Continue reading Wirex Moves on From Defunct Wirecard, Secures New Partnership with Railsbank

DeFi Trails Broader Market Uptrend to Hit New TVL at $223 Billion

The Total Value Locked (TVL) in decentralized finance (DeFi) protocols have crossed the biggest range in history. It is trading at its highest value of $223 billion, according to data from DeFiLlama. The current uptick in DeFi’s TVL is marked as an encompassing growth in the broader digital currency industry, whose market cap now sits at … Continue reading DeFi Trails Broader Market Uptrend to Hit New TVL at $223 Billion

Banking Circle Adopts USDC as Currency on its Payment Rails

Banking Circle, an European Union (EU) regulated payments bank has announced that it has integrated the USD Coin (USDC) stablecoin into its payment rail. According to the startup, the integration of the stablecoin will help facilitate conversion from fiat currencies which is critical for Banks and Payment providers as the Web3.0 market evolves. Banking Circle … Continue reading Banking Circle Adopts USDC as Currency on its Payment Rails

US Senators Introduce Bipartisan Stablecoin Bill to Establish Regulatory Framework

US senators Kirsten Gillibrand and Cynthia Lummis have introduced the Lummis-Gillibrand Payment Stablecoin Act, a landmark bipartisan legislation that seeks to establish a regulatory framework for payment stablecoins. The bill aims to protect consumers, foster responsible innovation, and crack down on money laundering and illicit finance. The legislation, which the senators have been working on … Continue reading US Senators Introduce Bipartisan Stablecoin Bill to Establish Regulatory Framework

Financial Conduct Authority, on the 2 Key Initiatives to the Era of Open Finance

Following the Part 1 interview of the Financial Conduct Authority, Maha El Dimachki, Head of Payments of the FCA reveals some of her key initiatives in the FCA, including the significance of the second Payment Services Directive (PSD2) among the EU countries and the rationale of the Stronger Customer Authentication. As Co-Chair of Spectrum, the … Continue reading Financial Conduct Authority, on the 2 Key Initiatives to the Era of Open Finance

Libra Association Appoints Steering Team to Oversee Its Cryptocurrency Network Development

The Libra Association has appointed a five-member technical steering team to oversee the ongoing development of the Libra project. Late last year, Libra made some important changes, including forming new firms and updating its mission to emphasize on payments instead of currency.     The five-member team The steering committee’s role includes the coordination and oversight … Continue reading Libra Association Appoints Steering Team to Oversee Its Cryptocurrency Network Development

Federal Reserve Considers a FEDcoin in Wake of Rising Stablecoin and CBDC Development

Federal Reserve Governor, Lael Brainard said that the Fed is weighing the developments and policy issues in the digital payments sector and experimenting with central bank digital currencies (CBDC) in consideration of potentially issuing its own digital currency. According to Reuters, Brainard’s comments while speaking with the Stanford Graduate School of Business on Feb. 5, … Continue reading Federal Reserve Considers a FEDcoin in Wake of Rising Stablecoin and CBDC Development

"The Wars to Come," Blockchain – A Game Changer for Auditors

Every industrial revolution was driven by different automation. The “Steam Engine” began the “First Industrial Revolution”, Previous industrial revolutions were driven by “Factory Machines and Fossil Fuels”. Whereas, the on-going automation revolution is based on “Data-Driven Artificial Intelligence” (AI) and “Blockchain Technology”. If “data is the fuel “of the Fourth Industrial Revolution, “blockchain will be the engine” driving it forward. Both of them have a … Continue reading "The Wars to Come," Blockchain – A Game Changer for Auditors

Libra Faces Competition as Celo Foundation Hands Out First Grants Expanding the Use of its Platform

Libra has been facing some competition as the Celo Foundation has awarded its first grants of $700,000 in total to 13 projects that expand the use of its platform. The goal of the Celo Foundation Grants Program is to provide support for projects that are “committed to building a financial system that creates the conditions … Continue reading Libra Faces Competition as Celo Foundation Hands Out First Grants Expanding the Use of its Platform

CBDC for Stimulus Payments Advocates Honorary Christopher Giancarlo

During an open hearing by the House Committee On Financial services yesterday, the Honorable Christopher Giancarlo once again advocated for the use of a Central Bank Digital Currency (CBDC), effectively digital dollars, as a solution to directly distribute the COVID stimulus packages to citizens. Members of the House Committee On Financial Services met for the … Continue reading CBDC for Stimulus Payments Advocates Honorary Christopher Giancarlo

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