News

Crypto Doesn’t Challenge Our Hegemony in the Short to Medium-Term

CEO of global payment giant Visa Al Kelly stated that cryptocurrency does not pose a challenge to the company’s dominance in the payment sphere in the “short to medium-term,” in an interview on CNBC’s Mad Money Oct. 25.When asked if “crypto [is] a real challenge to Visa’s hegemony in this business,” Kelly told Mad Money […]
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New Ethereum-Based Token to Be Backed by Bitcoin

U.S. crypto wallet and blockchain security firm BitGo has announced the development of an Ethereum (ETH)-based coin backed 1:1 with Bitcoin (BTC), according to an official blog post Friday, Oct. 26.The announcement reads that Wrapped Bitcoin will provide users with a “wide variety of new decentralized use cases including on decentralized exchanges (DEXs), as collateral […]
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Visa Set to Launch Blockchain-Based Digital Identity System with IBM in Q1 2019

Visa is readying its blockchain-based digital identity system for cross-border payments for launch in the first quarter of 2019, according to a press release published October 21.The system, dubbed Visa B2B Connect, will provide a blockchain-based digital identity solution for financial institutions to securely process cross-border payments. The system reportedly tokenizes sensitive business data – […]
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Central Bank-Issued Digital Currencies Are Not an Effective Economic Tool

The Bank of Japan’s (BOJ) deputy governor Masayoshi Amamiya has recently reiterated his negative stance towards central bank-issued digital currencies (CBDC), the New York Times reports Oct. 20.Speaking on Saturday at a meeting in Nagoya, central Japan, Amamiya expressed doubts about the use of CBDCs, claiming that such digital currencies are unlikely to improve the […]
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Dubai Department of Finance Launches Blockchain-Based Payment System for UAE Gov’t

The Dubai Department of Finance (DoF) has partnered with the Smart Dubai Office (SDO) to launch a blockchain-powered payment system. The news was reported on by a local news site Zawya, September 23.The new platform, called “Payment Reconciliation and Settlement,” was officially launched Sunday, September 23. It is reportedly geared towards government entities, such as […]
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Lambos, Bling and Mansions — What Purchases Do Crypto Millionaires Make

One of the most hotly debated topics around cryptocurrencies is what people can actually purchase with Bitcoin and its altcoin brethren.With Bitcoin’s 10th birthday just around the corner, it’s worth taking a look at some of the most outrageous and expensive things people have been able to purchase with BTC.We have certainly come a long […]
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Ripple Could Launch xRapid Solution ‘In the Next Month or So,’ Says Exec

Ripple could launch a commercial version of its payment platform xRapid “in the next month or so,” CNBC reported September 17. Head of regulatory relations for Asia-Pacific and the Middle East at Ripple Sagar Sarbhai told CNBC that Ripple has been making strides toward the launch of its product xRapid.The xRapid product is a real-time […]
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Brazilian Retail Giant Partners With Blockchain Payment Service Airfox to ‘Drive Adoption’

Brazilian retail giant Via Varejo has partnered with blockchain payment service Airfox, according to a September 12 press release.Via Varejo, which owns home appliance and furniture chain Casa Bahia, is integrating Airfox’s digital banking platform on its e-commerce platforms, as well as in nearly 1,000 of its offline shops.As the press release notes, customers will […]
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BitPay CCO Predicts Altcoins to ‘Never Come Back,’ Bitcoin to ‘Rebound’ in 2019

The Chief Commercial Officer of global crypto payment processor BitPay said that altcoins “will never come back,” while Bitcoin (BTC) will “rebound” in 2019, in an interview with Bloomberg September 12.The CCO of BitPay Sonny Singh said that cryptocurrency markets are now on the threshold of a new stage of progress, which requires a certain […]
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The Race for the Cross-Border Payments Market

Competition in the business of facilitating cross-border payments has just gotten tighter. Until recently, the primary fintech challenger to the reigning SWIFT international payment system has been Ripple Labs and its various products designed for the institutional banking sector. The first week of September saw the game-changing news break, as IBM announced promotion of its DLT-powered […]
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