The Bank of Tanzania to Introduce CBDC, Strengthening Domestic Payment System

The Bank of Tanzania is actively introducing a CBDC to strengthen the domestic payment system.

A New Era of Mass Adoption – Shopify To Bring Bitcoin to a Quarter of Global Population

Strike’s partnership with Shopify, Blackhawk Network and NCR allows people to use Bitcoin in a much more mainstream way, ditching traditional payment system monopolists.

Bitcoin is Superior to All Other Payment Networks: Strike CEO

Jack Mallers believes bitcoin provides financial freedom while using it as a payment system is better than card or bank processing networks.

Indian exchanges moving to P2P: Is it a temporary fix or a permanent solution

Almost a week after cryptocurrency exchanges in India halted all payments, traders in the India started using the peer-to-peer (P2P) payment system for the buying and selling of tokens.

Cathie Wood: ARK Invest 'Chose Block Over PayPal' Due To Cash App's Bitcoin Focus

ARK Invest CEO Cathie Wood called PayPal’s Venmo a “follower” of Block’s Cash App payment system, which uses Bitcoin’s Lightning Network.

Cathie Wood’s Ark Invest dumps PayPal favoring Bitcoin-friendly Cash App

Wood believes that Venmo is merely a follower of Cash App, which has generated more than double Venmo’s revenue from almost half the number of users. Crypto investment company Ark Invest founder, Cathie Wood, has dumped all of the firm’s holdings of PayPal and showed greater confidence in the long-term growth of the Cash App payment system which uses the Bitcoin Lightning Network.Wood explained her firm’s move at the Miami Bitcoin 2022 conference which wrapped up on April 9.

Namibian Central Bank Announces Plan to Launch CBDC

Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digital currency (CBDC).

Crypto Exchange Coinbase Launches in India — Quickly Runs Into Trouble With UPI Payment System

Cryptocurrency exchange Coinbase has announced that it is launching full-scale crypto trading in India with Unified Payments Interface (UPI) support.

How crypto execs react to economic sanctions against Russia?

Most companies in the United States and other Western nations are no longer allowed to conduct business or exchange money with Russian banks. As the West and America tighten their economic sanctions on Russia, concerns have emerged about how this will affect the cryptocurrency market.The country has been largely cut off from the SWIFT international payment system, and businesses in the United States and other Western nations are banned from doing business or transacting with Russian banks and the national wealth fund.Executives at crypto exchanges have weighed in on the sanctions and their possible effects.

With sanctions at the fore, will Russia adopt the digital yuan? Well, it might...

You may know the 'Society for Worldwide Interbank Financial Telecommunication' as SWIFT - a cross-border payment system that makes it possible for users worldwide to shop, transfer money, pay fees, anThe post With sanctions at the fore, will Russia adopt the digital yuan? Well, it might...

Silvergate Capital Purchases Diem Operations to Develop Own Stablecoin

Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system.

New Payment System Seeking to Bolster Intra-African Trade Goes Live

A new continent-wide payment system that seeks to strengthen African fiat currencies, as well as to boost intra-Africa trade, recently went live.

Malaysia’s Central Bank actively assessing CBDC options

Malaysia’s central bank recently completed a proof-of-concept for a CBDC with three other nations and may consider developing its own cross-border payment system using the blockchain. Malaysia has joined the growing cadre of nations that are exploring the value of researching and developing a central bank digital currency (CBDC).Malaysia’s central bank, Bank Negara Malaysia, stated to Bloomberg on Jan.

Bitcoin payments decline as other cryptocurrencies grow

In 2021, Bitcoin’s usage by merchants that use BitPay fell to about 65%, down from 92% in 2020. BitPay Inc., one of the world’s most well-known crypto payments processors, has seen a shift in the type of digital assets used for purchases over the last year, according to a Bloomberg report.According to BitPay, Bitcoin’s (BTC) usage at businesses that use its payment system fell last year to about 65% of processed transactions, down from 92% in 2020.

India: Calls for crypto regulations intensify ahead of Budget Session 2022

India's digital payment system and financial services company, Paytm, had previously stated that it might dive into crypto once the regulatory environment becomes favorable. Now, with the Indian BudgThe post India: Calls for crypto regulations intensify ahead of Budget Session 2022 appeared first on AMBCrypto.

Florida Governor Ron DeSantis Proposes Creating a Cryptocurrency Payment System for State Fees

The American politician and attorney serving as the 46th governor of Florida, Ron DeSantis, announced the state’s 2022-23 budget proposal last week and proposed an idea to let businesses pay state fees with crypto assets.

Eastern Caribbean CBDC expands to another two territories

Two more Eastern Caribbean nations have begun using the DCash system, which allows payments and transfers of the digital EC dollar CBDC. The Eastern Caribbean Central Bank (ECCB) rolled out its digital payment system to The Commonwealth of Dominica and the British overseas territory of Montserrat on Dec.

US is not moving fast enough to develop a CBDC, says former CFTC chair

“We should act now to improve access to financial services through other means as well — the need is too great," said Tim Massad. Tim Massad, who served as chair of the Commodity Futures Trading Commission until 2017, said the United States is too slow in developing a plan to modernize its payment systems.In a Wednesday hearing of the Joint Economic Committee on the role of digital assets in government, Massad said a central bank digital currency, or CBDC, could be one solution for the United States to improve its existing payments systems, which he referred to as “slow” and “expensive.” In addition, the former CFTC chair said while stablecoins could be used for this purpose, they also presented some of the most urgent challenges for US regulators and pose significant risks.Massad said that people using stablecoins like Tether (USDT) to move funds between exchanges was a good example of why the US payment system needs to be modernized.

Raoul Pal Says Solana and Terra Following Ethereum’s Explosive 2016 Rally – Here’s Why

Macro guru Raoul Pal says smart contract platform Solana (SOL) and stablecoin-focused blockchain payment system Terra (LUNA) could be following the same parabolic price trajectory of Ethereum in 2016.

G20-Backed FSB Sets Out Roadmap for Stablecoins and CBDCs, Optimizing Cross-Border Payment System

The FSB, a G20-backed think tank, has cited the duo of government-issued CBDCs and stablecoins as key drivers in the pursuit of better cross-border payments.

Vitalik talks DAOs, Ethereum and NFTs in new interview

Speaking on Bitcoin: “In some ways, the number of critics matters much less than the strength of the supporters.” In an recent podcast interview with The Stakeborg Talks, co-founder of Ethereum, Vitalik Buterin spoke candidly on a wide range of issues including his early attraction to mathematics and problem solving, the potential of decentralized autonomous organizations, or DAO’s, as well as his perspective on Bitcoin’s community and the non fungible token, or NFT, space.Early on in the conversion when inquired on his preference for career title, Buterin — a modest entrepreneur with an animated passion for his profession — referred to himself as a tech philosopher, and as such perhaps coined the term.Paraphrasing the infamous scholar and warrior quote from Athenian historian Thucydides, Buterin drew perspectives on the shifting dichotomy between the tech industries dogma of continual advancement and the abstract space carved out for thought-leaders in philosophy.When asked whether we see a flippening of Ethereum surpassing Bitcoin not only in price value, but also as a store of value asset, he simply replied “It could”, before expanding his viewpoint:“I think the big difference between Ethereum and Bitcoin is that Bitcoin is a platform where the value of the ecosystem comes from the value of the currency, but in Ethereum the value of the currency comes from the value of the ecosystem.”Ethereum’s highly-anticipated London hard fork upgrade in mid-August is enhancing the network’s transaction payment system, mostly notably with transaction fees and miner revenue.

Bakkt crypto exchange partners with Google for payments

Millions of retailers currently accept Google Pay as a form of payment, potentially giving Bakkt users the ability to pay in crypto at a variety of stores and online markets. Users who hold debit cards issued by cryptocurrency exchange Bakkt will be able to convert their crypto balances to make fiat payments using Google Pay.In an Friday announcement, Bakkt said it had partnered with Google to allow its users to purchase goods and services using Bitcoin (BTC) and other cryptocurrencies through the Google Pay wallet and payment system.

Verifone Enables Retailers to Accept Cryptocurrencies, Says Merchants’ Appetite for Crypto Payments ‘Has Exploded’

Verifone, a global payment system provider with 35 million devices in 150 countries, is rolling out crypto payment support in the US in partnership with Bitpay.

Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy Document

The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed.

Diem struggling to win over officials in Washington despite rebranding efforts

Diem’s push to launch stablecoins and a global payment system might suffer from the seemingly brewing anti-crypto sentiment among key US policymakers. Facebook’s ambitious digital currency payment project Diem is yet to get off the ground despite concerted attempts to win over financial regulators.According to The Washington Post on Friday, Diem is facing difficulties smoothening regulatory wrinkles with senior policymakers in the Biden administration.Even with the full weight of Facebook’s significant lobbying power in Washington, the digital currency project is yet to get off the ground.Reports indicate that David Marcus, Facebook Financial (F2) head, met with regulators in Washington earlier in September.

Diem Has Secured Licenses in Nearly All States, says Board Member

Facebook’s stablecoin payment system is quickly seeking–and gaining–regulatory approval across America, according to board-member David Marcus.

Facebook’s David Marcus calls for “fair shot” at crypto payments

Marcus shares his honest thoughts on the crypto market, as well as declaring that Novi is ready to launch. In a newly published Medium piece titled "Good stablecoins, a protocol for money, and digital wallets: the formula to fix our broken payment system", Facebook’s crypto pioneer David Marcus shared his views on topics of economic inequality, regulatory challenges and Novi’s proposed stablecoin solution.Marcus has spent the last couple of years building Diem’s crypto wallet Novi – a interoperable digital wallet designed to integrate with the Diem payment system.

Watch Out PayPal, Here Comes Crypto as a Payment System

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. When PayPal announced last month that its “super app” is ready to launch, this marked the payments company’s next big step towards the launch of a new consumer digital wallet that has been in the works for some time.

Indian Government Does Not Want Cryptocurrencies to Take Part in its Payment System

While recommending the prohibition of private cryptocurrencies, the Inter-Ministerial Committee of India urged the government not to ban digital currencies issued by the State.