Tag: Payments

Iran to reportedly pilot central bank digital currency soon
Blockchain News

Iran to reportedly pilot central bank digital currency soon

The Central Bank of Iran (CBI) is reportedly planning to launch a central bank digital currency (CBDC) pilot soon.According to a report by the Iranian Labour News Agency, the CBI vice governor said that CBDCs could help the country resolve financial inconsistencies. The development of a sovereign digital currency in Iran began in 2018 at the Informatics Services Corporation — the executive arm of the CBI. The development phase has been completed and a pilot will be launched soon. However, CBI didn’t reveal many details about the time frame.The Iranian CBDC was reportedly developed using the Hyperledger Fabric platform hosted by the Linux Foundation. Cointelegraph reached out to Hyperledger for a comment but didn’t get a response at the publishing time.Iran has experienced signifi...
Altcoin Roundup: 3 ways blockchain technology could further mainstream in 2022
Altcoins

Altcoin Roundup: 3 ways blockchain technology could further mainstream in 2022

2021 was a breakout year for the cryptocurrency sector and this year is expected to see an extension of the “mass adoption” trend.Public awareness of blockchain technology is on the rise and a new cohort of projects designed to fill more niche roles in society are likely to emerge in the coming months. Three sectors that have the potential to see significant growth in 2022 are human resources (HR), employee payment solutions and platforms that serve the gig economy by offering corporate blockchain solutions.HR might pivot toward blockchain Human resource management is ripe for blockchain integration due to the security and data storage solutions offered. Blockchain would allow each employee to have a unique address where all pertinent information could be cryptographically stored. HR also ...
Checkout.com raises $1B in Series D, bringing valuation to $40B
Blockchain News

Checkout.com raises $1B in Series D, bringing valuation to $40B

Global payments processor Checkout.com announced a $1 billion Series D funding round on Wednesday, which marks a total of $1.8 billion raised to date and a $40 billion company valuation.Among the primary investors in the latest round are Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, the Oxford Endowment Fund and more.Big news We've just closed our $1bn Series D funding round at a $40 billion valuation. It will help drive our US growth, our platform evolution, and exciting work in Web3 Read more from our founder and CEO, @GuillaumePousaz https://t.co/KiqE2Q5NGD pic.twitter.com/PEXmtN2Xkv— Checkout.com (@Checkout) January 12, 2022The U.K.-based startup plans to use the funds to scale operations in the U.S. market, further develop their payme...
Retail is pushing the Bitcoin price up, says Ledger CEO
Altcoins

Retail is pushing the Bitcoin price up, says Ledger CEO

As crypto prices recover after a slump last week, Pascal Gauthier, CEO of crypto wallet firm Ledger, addressed questions relating to the state of the crypto market. In an interview taken by CNBC at the Crypto Finance Conference in St. Moritz, Switzerland, Gauthier said the situation panning out with Bitcoin (BTC) comes as no surprise. The retail trend is prominent and it’s “always the same.” He explained: “The number of addresses with the minimum number of BTC is actually growing compared to the number of whales. There is a profound retail trend everywhere in the world; they trust Bitcoin more and more. It’s the people that will push the price up.” Recent data from on-chain market intelligence provider Glassnode supports the claim. The number of BTC addresses with ...
Ramp expands presence in US with FinCEN regulation
Blockchain News

Ramp expands presence in US with FinCEN regulation

On Tuesday, crypto-fiat gateway payments platform Ramp announced that its U.S. subsidiary Ramp Swaps LLC had received its registration as a Money Service Business with the Department of Treasury's Financial Crimes Enforcement Network. The regulatory greenlight enables Ramp to do business in 38 states across the United States. Besides the development, Ramp also has regulatory clearance with the United Kingdom's Financial Conduct Authority and Poland's Financial Supervision Authority.Ramp allows users to buy crypto directly in their wallets and decentralized applications, or DApps. Last year, the company grew its transaction volume by approximately 30x. It has partnerships with over 400 blockchain entities worldwide, including Axie Infinity, Mozilla, Opera Browser, Aave, Trust Wallet and is ...
Central bank of Bahrain trials JPMorgan’s blockchain and token
Blockchain News

Central bank of Bahrain trials JPMorgan’s blockchain and token

Bahrain is the latest nation to explore blockchain technology by American investment bank JPMorgan, with the country’s central bank trialing JPMorgan’s proprietary digital currency.The Central Bank of Bahrain (CBB) has successfully completed a digital payments test in collaboration with JPMorgan’s blockchain and cryptocurrency unit Onyx, according to an official announcement published on Thursday.The trial involved two other major institutions, Manama-based international bank Bank ABC and Bahrain national aluminum smelter Aluminium Bahrain, also known as Alba. The test enabled Bank ABC to settle real-time payments to Alba’s counterparts in the United States using JPM Coin, a blockchain-based payments system and stablecoin pegged to the United States dollar.According to the announcement, th...
Retailers to drive crypto payments adoption: Survey
Bitcoin

Retailers to drive crypto payments adoption: Survey

Crypto payments might be the innovation companies are looking for. A recent survey by payment network Mercuryo revealed that 57% of respondents believe accepting cryptocurrency payments would give companies a competitive edge. Among the other standout statistics, more than one-third of businesses reported that customers had asked to pay in Bitcoin (BTC), Ether (ETH) or another digital currency.Hot on the heels of news that Dogecoin (DOGE) will trial for Tesla merchandise payments and WhatsApp began testing payments with Meta’s Novi wallet, the Mercuryo report highlights that retail payment services will continue to be a key crypto adoption driver.The report surveyed 501 senior financial decision-makers in the United Kingdom. Almost half of the sample size consisted of large businesses empl...
Crypto salaries are becoming a popular way to attract young talent
Bitcoin

Crypto salaries are becoming a popular way to attract young talent

Athletes and politicians have made headlines as they opted to get paid in crypto earlier this year. Now, in an attempt to attract a younger workforce, companies are starting to offer crypto salaries. A recent CNBC article highlighted two different cases where young talent is paid in crypto. University student Stephen Gerrits and artist Tiyanna Brown decided to receive their pay in cryptocurrencies. Gerrits works part-time at a tech startup, while Brown sells digital art in exchange for Ether (ETH). According to Gerrits, he’s earned more than what he would’ve made in cash due to crypto price changes. However, it doesn’t just always go up. He said that he lets it be and finds joy when the prices go up, but the fun ends when prices go down. Since his bills are covered by other income, he...
Altcoin Roundup: Three smart contract platforms that could see deeper adoption in 2022
Altcoins

Altcoin Roundup: Three smart contract platforms that could see deeper adoption in 2022

Decentralized finance (DeFi) dominated media headlines throughout 2021 and the sector, along with nonfungible tokens (NFTs), helped to initiate the mass adoption of cryptocurrencies. While high yields on staking and instant profits from flipping jpegs have proven to be very lucrative for investors, it’s important to remember that none of it would have been possible without the underlying capabilities of smart contract technology. The Ethereum network remains, hands-down, the most widely used layer-one smart contract platform in the crypto ecosystem, but everyone knows about the high fee and clogged network issues of the past few years.In 2021, competing networks like Avalanche and Binance Smart Chain enabled compatibility with the Ethereum Virtual Machine (EVM) and this produced posit...
Cointelegraph Editor-in-Chief Kristina Cornèr talks digital currencies with Mastercard at Global Impact Week
Blockchain News

Cointelegraph Editor-in-Chief Kristina Cornèr talks digital currencies with Mastercard at Global Impact Week

Global Impact Week, an industry event that features fintech, policy, climate, healthcare, and media innovations, kicked off in Valencia, Spain, and is ongoing from Dec. 14 to 18. Recent figures put attendance at 100,000, with 500 speakers and 150 live sessions. Cointelegraph's Editor-in-Chief Kristina Cornèr has been in virtual attendance at the event, moderating the panel titled “Fireside Chat: Fintech Defining the Future” with Mastercard’s executive vice president of market development, Liza Oakes. Here's what they had to say:Kristina Cornèr: In November, Mastercard announced the launch of crypto-funded payments cards. How do you see this opportunity develop in the next few months or years?Liz Oakes: We started the service in fiat money. You can start by using Mastercard to purchase cryp...