Companies Systems

Solana Report: Stablecoins Can Reach Unbanked and Significantly Reduce Remittance Fees

Crowdfund Insider

"Stablecoins are beginning to rewrite the playbook for global remittances, a market that has operated on aging infrastructure for decades. A Solana Foundation report argues that digital dollars on high-throughput blockchains can cut costs, speed settlement, and expand access in ways traditional money-transfer rails have not. The industry’s problems are familiar. Sending $200 still carries an average fee of 6.49 percent."

Tags: Solana Stablecoin

Companies Systems

U.S. Faster Payments Council Report Offers In-Depth Comparison of Established and Emerging Payment Rails

Faster Payments Council

"The U.S. Faster Payments Council announced the publication of a new report from the FPC Digital Assets Work Group: A Comprehensive Look at the U.S. Faster Payments Landscape for Optimal Operation. The report examines the growing range of payment options available in the United States and provides a detailed comparison of the FedNow® Service, RTP® Network, Visa® Direct, Mastercard Send™, Same Day ACH, stablecoins, and tokenized deposits."

Tags: Fast Payments U.S. Faster Payments Council

Companies Systems

Education: Stablecoins: What Corporates and FIs Need to Know

Standard Chartered

"Learn how stablecoins work, where they may support payments, treasury and liquidity, and what corporates and financial institutions should consider."

Tags: Stablecoin Standard Chartered

Companies Systems

Avolta Launches First Direct Wallet-to-Wallet Stablecoin Payments Pilot

Avolta

"Avolta launched a pilot enabling customers to pay with stablecoin at its Level 2 Duty Free store at Zurich Airport. Travelers can make purchases directly from their digital wallets through a simple QR-code payment process. The pilot introduces a payment model in which transactions are settled directly between the customer and Avolta, without relying on traditional card networks or intermediary payment providers. Funds are transferred within seconds using blockchain technology."

Tags: Stablecoin

Companies Systems

Visa: Financing The Next Hundred Stablecoin-Linked Card Programs

Visa

"Stablecoin-linked cards are one of the fastest-growing parts of our network. In our fiscal second quarter, more than 160 stablecoin-linked card programs were live around the world, payment volume on those programs grew nearly 200% year over year, and stablecoin settlement volume recently surpassed a $20 billion annualized run rate, up more than 15x year over year. Behind that growth sits a requirement that rarely makes headlines."

Tags: Stablecoin Visa

Companies Systems

How Circle’s Latest Acquisition Brings the Company One Step Closer to Stablecoin Supremacy [Video]

Yahoo Finance

Circle is expanding its global payments infrastructure with its recent acquisition of Tazapay, a worldwide payments platform. Scott Melker discusses the details in the video above.

Tags: Stablecoin

Regulation Systems

Hill: FDIC on Track to Issue Stablecoin Rulemaking by Year’s End

ABA Banking Journal

"The FDIC plans to issue a final rulemaking before the end of the year to establish an application process and prudential requirements for stablecoin issuers under its jurisdiction, although likely not until after the Office of the Comptroller of the Currency issues its own stablecoin rules, FDIC Chairman Travis Hill said. The FDIC proposed new rulemaking earlier this year to implement the Genius Act, which created a regulatory framework for payment stablecoins."

Tags: FDIC Stablecoins

Companies Systems

New Nacha Payments Innovation Alliance Project Team Focused on Stablecoins and Tokenized Deposits

Nacha

"As digital assets become an increasingly important part of the payments universe, Nacha's Payments Innovation Alliance is unveiling its newest initiative: the Next-Gen Currency Project Team. The team, led by Nacha and the Digital Sovereignty Alliance, will explore the global use of digital assets—including stablecoins and tokenized deposits—for money movement."

Tags: Nacha Stablecoin

Companies Systems

U.S. Bank Takes Its USBDC Stablecoin Live With Cross-Border Payment on Stellar

Finance Feeds

"U.S. Bank has completed a live pilot transaction using USBDC, its proprietary U.S. dollar-backed stablecoin, moving a cross-border payment between its entities in North America and Europe. The transaction ran on the Stellar blockchain, and the bank says USBDC ranks among the first bank-issued stablecoins deployed on a public network, signaling that the Minneapolis lender wants to move value on-chain while keeping the payment tied to its existing finance, risk, compliance and operations infrastructure."

Tags: Stablecoin

Companies Systems

Visa Brings Onchain Lending Into Everyday Payments

Visa

"Visa announced a new approach to onchain credit designed to help stablecoin-linked card programs and fintechs access working capital using onchain lending infrastructure and Visa data. The announcement builds on Visa's broader stablecoin strategy, which includes the recent launch of Visa Stablecoin Platform, enabling stablecoin settlement, expanding stablecoin-linked card programs, and helping financial institutions access new digital asset capabilities. Today, more than 160 stablecoin-linked card programs operate on Visa's network"

Tags: Stablecoin

Companies Systems

Stablecoins Could Enter M1 or M2, Fed Study Says

Crypto News

"Federal Reserve researchers proposed a framework on Sept. 4 for deciding how stablecoins and other blockchain-based financial products could fit within U.S. money supply statistics. Everyday payment use would support M1 classification, while short-term value storage would point toward M2. Tokenized bank deposits already appear within existing monetary aggregates because they remain legally conventional deposits. Retail tokenized money market funds are already included within M2 alongside traditional retail funds today."

Tags: Federal Reserve Stablecoin

Companies Systems

Education: Mastercard - What’s in the Cards?

Mastercard

"The credit card is one of the most recognizable totems of modern commerce. Billions and billions of cards have been produced over the decades, and while the dimensions have largely remained the same, new technology, design trends and concerns about accessibility and sustainability have evolved how they look, feel and work. Here’s a brief look at the changing face of cards."

Tags: Cards Mastercard

Companies Global Systems

Brazil, ECB Studying Instant Payments Link in Potential First Cross-Border Move for Pix, Sources Say

MarketScreener

"Brazil's central bank and the European Central Bank (ECB) are studying a potential link between their instant payment systems, two people with direct knowledge of the matter said, in a move that could mark the first cross-border expansion of Brazil's successful Pix platform. The sources, who spoke on condition of anonymity, said the discussions reflect a willingness by technical teams to assess whether such an interconnection is feasible. One source said a pilot project could be launched in 2028 if the initiative advances as planned."

Tags: Faster payments

Companies Systems

FedNow® Service 2027 Discount Program

The Federal Reserve

"Institutions may qualify for the FedNow Receive Discount, Send Discount or both, provided they meet the respective eligibility requirements. The discounts are available to both new and current FedNow Service participants. The FedNow Receive Discount provides a one‑time statement credit for institutions that have enabled the ability to receive instant payments and meet the additional service participation requirements outlined. See details below for eligibility criteria, discount amounts and qualification requirements."

Tags: Fast Payments Federal Reserve

Industry Systems

Bank of America, Citi Join 21-Firm Stablecoin Plan

Crypto News

"Bank of America, Citi, Goldman Sachs and 18 other financial institutions committed on Sept. 1 to establish a stablecoin company during the second half of 2026, subject to closing conditions. The unnamed venture plans to issue a U.S. dollar-denominated stablecoin during the first half of 2027. The group said it may later introduce tokens linked to other G7 currencies, with a euro stablecoin named as its first expansion priority."

Tags: Stablecoin

Global Systems

Russia Begins Mass Digital Ruble Rollout Through Largest Banks and Retailers

Finance Feeds

"Russia began the mass rollout of its digital ruble on Sept. 1, moving the central bank digital currency beyond its earlier testing phase and into wider use across major banks, retailers and payment networks. Systemically important banks and other large credit institutions designated by the Bank of Russia as important to the payments market must now allow customers to open digital ruble wallets, make transfers and use the currency to pay for goods and services."

Tags: Central bank digital currencies (CBDC) Russia

Systems

U.S. Bank Is Testing Custom Stablecoin Issuance on the Stellar Network

Stellar

"U.S. Bank, PwC, and the Stellar Development Foundation (SDF) unveiled a major step forward in making programmable money bank-grade: U.S. Bank is testing custom stablecoin issuance on the Stellar network."

Tags: Stablecoin

Systems

China Uses Digital RMB for Gold, Iron Cross Border Payments

Ledger Insights

"Yesterday the Chinese press reported that China’s central bank digital currency (CBDC), the digital RMB was used for cross border precious metal payments. The Bank of China worked with the Shanghai Gold Exchange to enable the settlement of a 100 million RMB ($14m) gold trade."

Tags: Central bank digital currencies (CBDC)

Systems

FedNow Service Ends 2023 on a Strong Note with More than 300 Participating Financial Institutions on Board

Business Wire

"The Federal Reserve announced today that FedNow Service participation continues to show strong growth and diversity heading into the new year, with 331 institutions, headquartered in 45 states and ranging in size from under $500 million to over $3 trillion in assets, now sending or receiving on the network."

Tags: FedNow

Systems

Fnality Completes "World's First" Blockchain Payments at Bank of England

Reuters

"Fnality, a blockchain-based wholesale payments firm, said on Thursday that shareholders Lloyds Banking Group, Santander and UBS had completed the 'world's first' live transactions that digitally represent funds held at a central bank."

Tags: Digital currencies

Systems

Universal Digital Payments Network (UDPN) is Launched to Support Seamless Digital Payments Across Multiple Central Bank Digital Currencies and Regulated Stablecoins

PR Newswire

Launched at Davos during the World Economic Forum week, the Universal Digital Payments Network (UDPN) is a DLT-underpinned messaging backbone focused on providing interoperability between the fast-growing number of different regulated stablecoins and CBDCs, and seamless connectivity between any business IT system and regulated digital currencies. At the Davos launch event, representatives from leading global financial institutions Deutsche Bank, HSBC, Standard Chartered, The Bank of East Asia, and Akbank discussed the rapidly evolving world of digital currency, the importance of interoperability, and the need for an infrastructure to support these developments.

Tags: Central bank digital currencies (CBDC)

Global Systems

Spanish Banks to Road Test Digital Euro

Finextra Research

“The Spanish banking sector has set up a working group and proof-of-concept to assess the impact of the implementation of a digital euro by the European Central Bank. Up to 30 banks, working in concert with infrastructure providers Bizum, Iberpay and Redsys, intend to roll out the PoC with the aim of undertaking an in-depth analysis of the technical, operational and business implications of the digital euro and its co-existance with existing payment instruments.”

Tags: Central bank digital currencies (CBDC)

Companies Global Systems

Fighting Poverty With Direct Cash Payments

MIT News

“What’s the best way to help someone living in extreme poverty? Some might say improved access to food while others might focus on health care or education. All are worthy causes, but the truth is that the needs of people in extreme poverty vary. Walk through a slum in Kenya, for instance, and you might meet budding entrepreneurs, people who want to invest in education for themselves or their children, and even people who, given the ability, would simply work less and spend more time caring for family. Since 2009, the nonprofit GiveDirectly has allowed impoverished people to choose for themselves by facilitating digital cash donations that go directly into recipient’s bank accounts.”

Tags: Mobile Money

Global Systems

UK Group to Test Stablecoin Payments, Provide Data to Bank of England

Coindesk

“The Digital FMI Consortium, a group of private-sector companies, said it plans to test cross-border payments and provide recommendations to the Bank of England using its own sterling-backed stablecoin, dSterling. “The backing of the dSterling will be pounds held in a Bank of England reserve account and it is 100% backed,” a company spokeperson told CoinDesk. The pilot, known as Project New Era, will start in October and run for 12-24 months, it said a press release . Digital FMI, which has 15-20 members, will provide white papers and recommendations to the Bank of England and other regulators. A stablecoin is a cryptocurrency designed to hold its value against another asset, often the U.S. dollar.”

Tags: Stablecoin UK

Companies Deals Systems

Fintech Giant Stripe Jumps Into Crypto With a Feature That Lets Twitter Users Get Paid in Stablecoin

Coindesk

“Stripe will allow businesses to pay their users via cryptocurrencies, starting with Twitter, in the latest sign of how large financial firms are warming to digital assets. The $95 billion online payments company said Friday it will start offering merchants the ability to make payouts in crypto through the stablecoin USDC, which is issued by crypto firm Circle. Stablecoins are tokens that are pegged to fiat currencies to maintain a stable price. In USDC’s case, as the name suggests, the cryptocurrency is backed by the U.S. dollar.”

Tags: Stablecoin Stripe Twitter

Companies Global Systems

Germany’s Commerzbank Applies for Local Crypto License

Coindesk

“Germany’s Commerzbank (CBK) applied for a crypto license earlier this year, a spokesperson for the bank said. This makes it the first major bank in Germany to move towards crypto adoption.A bank spokesperson said Commerzbank wants to help shape emerging digital ecosystems, especially with regard to custody and trading in non-physical assets.“To this end, we entered into a cooperation with Deutsche Börse and Fin-Tech 330x in spring 2021. In addition, we are pursuing our own digital asset strategy and are also planning our own offerings for our customers in the coming years. We have applied for a license from the Bafin for the safekeeping of crypto assets. The future offer is initially aimed at institutional customers,” said Bernd Reh, senior spokesman, Commerzbank.”

Tags: Cryptocurrencies Germany

Companies Deals Systems

Alacriti Featured in Federal Reserve’s New FedNowSM Service Provider Showcase, Expands Its Unified Payments Platform for the FedNow Service

Businesswire

“Alacriti , a fintech company specializing in payments and money movement, is proud to be featured in the Federal Reserve’s new FedNow Service Provider Showcase, an online resource designed to connect financial institutions looking to adopt and innovate upon the FedNow Service with service providers offering instant payment solutions. In addition, connection to the upcoming FedNow Service is now included in Alacriti’s Cosmos Payments Services to give financial institutions multiple paths forward for faster payments innovation.”

Tags: FedNow

Global Risk Systems

Euro Notches Biggest Drop as Global Payment Currency Since 2011

Bloomberg

“The euro is being used less often as a global payment currency, posting its biggest percentage-point drop in more than a decade in March, as inflation and the war in Ukraine weigh on its appeal for transactions.  Meanwhile, the U.S. dollar remained in the top spot for a 10th consecutive month, and has dominated global payments for the most part since 2013, according to data from the Society for Worldwide Interbank Financial Telecommunications, or SWIFT.”

Tags: Europe

Companies Global Systems

How Meta Platforms Fell Behind in Indian Mobile Payments

Wall Street Journal

“Mark Zuckerberg has pinned his hopes on commerce to save his business from stagnating user engagement and decelerating advertising revenue growth. But in the massive market of India, Facebook parent company Meta Platforms has fallen far behind in mobile payments, which serve as the crucial last step in closing an online sale. It needs to get its act together quickly if it doesn’t want to lose out to Google and Walmart in the race for controlling digital payments in the world’s second-largest internet market. Meta has a popular mobile messaging platform in the country with WhatsApp, which has its own local payment service. But so far, the encrypted messaging app has been at loggerheads with the Indian government over multiple issues, all of which are likely impacting its payment ambitions in India.”

Tags: India Mobile Money WhatsApp

Companies Deals Global Systems

EPayments and Alchemy Pay Partner for Australian and NZ Crypto Payments

Prnewswire

“Fiat-crypto payments provider, Alchemy Pay (ACH), has partnered with merchant payment provider, ePayments, to offer crypto payments and services in New Zealand and Australia. ePayments will integrate with Alchemy Pay to provide to their merchants with crypto payment acceptance, as well as payments with Binance Pay. As part of the partnership, Alchemy Pay will also leverage ePayments’ NZ and Australian fiat payment channels and provide global crypto service providers with access to users in these markets.”

Tags: Australia Cryptocurrencies New Zealand