PAYMENTS
UAE's Central Bank Nears Launch of Digital Dirham
The UAE's central bank is close to launching its central bank digital currency (CBDC), the digital dirham, for domestic and cross-border payments. The CBUAE has partnered with G42 Cloud and R3 to be the infrastructure and technology providers for the CBDC implementation, which will boost financial inclusion and help the country become a cashless society. The first phase of the CBDC strategy includes the soft launch of "mBridge," proof-of-concept work for bilateral CBDC bridges with India, and domestic CBDC issuance for wholesale and retail use.
Bybit Launches Debit Card for Crypto Payments
Cryptocurrency exchange Bybit is launching a new debit card that will allow users to make payments and withdraw cash using their cryptocurrency holdings. The card will work with Bitcoin, Ether, Tether, USD Coin, and XRP balances on user accounts and will be issued by payments solutions provider Moorwand.
Bitcoin Flips Visa Again
Bitcoin (BTC) market valuation surpassed Visa's after a near 50% price increase in 2023. BTC has "flipped" the payment giant three times.
The Importance of Embedded Finance in Today's Fintech World
Banking, lending, insurance, payments, and branded credit cards are popular integrated financial products.
Why A-List Celebrities Are Still Promoting Unvetted NFT
Danis tweeted a picture and website URL that “literally spells out S.C.A.M.”
New York State Introduces Bill Allowing State Agencies to Accept Crypto
The crypto sector has attacked New York's "BitLicense" and crypto mining restrictions.
Allegations of fraud against Compass Mining after company cuts ties with Russian
Compass Mining customers are suing for $2 million for fraud. The firm terminated connections with Russian hosting provider Bit River and didn't restore clients' Bitcoin machines. It cut connections with Bit River over non-applicable US sanctions.
U.S. sanctions: Customers suing Compass Mining
Compass Mining customers are suing for $2 million for fraud. The firm terminated connections with Russian hosting provider Bit River and didn't restore clients' Bitcoin machines. It cut connections with Bit River over non-applicable US sanctions.
Santander Imposes Limit on Crypto Transactions for UK Customers
Santander to impose a £1,000 transaction limit on its crypto customers in the UK
Strike Secures $80m in Funding to Propel Instant Bitcoin Payments
Strike raised $80 million in funding to revamp BTC payments for top financial institutions, marketplaces, and merchants.
Blockchain in Fintech Sector Expected to Hit $31.4B by 2030
Blockchain in the FinTech market is anticipated to reach $31.4 billion by 2030, given that the penetration of this cutting-edge technology in the financial industry has boosted app-based operations.
Brazilian Fintech Firm PicPay Plans to Launch Crypto Services
Brazilian financial technology company, PicPay wants to bring crypto payments to its users by using its app.
Paypal Crypto Owners Can Now Transfer Tokens to Wallets
Fintech giant Paypal Holdings has upgraded its crypto wallet capabilities. Users of the app can now send supported digital assets to other wallets.
MoneyGram CEO Sees Stablecoin As Future of Payments as Service Needs Grow
Stablecoins provide low-cost and easily accessible digital payments across international borders.
Gucci to Accept Cryptocurrency Payments in US
The world-renowned luxury brand Gucci will accept cryptocurrency payments by the end of this month and plans to roll it out to direct-operated North American stores this summer.
