payments

Beijing, Suzhou enable China's digital yuan payments for subways

Beijing, Suzhou enable China’s digital yuan payments for subways

The Chinese capital city of Beijing has extended the testing of China’s central bank digital currency, dubbed the e-CNY, to its railway system. The municipal government of Beijing said in an announcement Wednesday that users who have activated the standalone digital yuan mobile app via the Industrial and Commercial Bank of China (ICBC) are now …

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Swiss canton Zug now accepts bitcoin and ether for tax payments

Swiss canton Zug now accepts bitcoin and ether for tax payments

The canton of Zug, one of the Swiss Confederation member states, has begun accepting bitcoin (BTC) and ether (ETH) for tax payments after initially announcing support last September. Kanton Zug has partnered with Bitcoin Suisse for the initiative, meaning the Swiss crypto firm will convert residents’ BTC and ETH tax payments into Swiss Francs for …

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PayPal CEO says the payments giant wants to be 'the digital wallet for global CBDCs'

PayPal CEO says the payments giant wants to be ‘the digital wallet for global CBDCs’

PayPal CEO Dan Schulman said Thursday that he sees PayPal playing a significant role in the utility of central bank digital currencies (CBDCs). On the company’s investor day call, Schulman said PayPal is gearing up to be “the digital wallet for global CBDCs.” PayPal’s newly unveiled product roadmap for crypto includes becoming a CBDC platform. …

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Could Scalable Bitcoin Payments Undermine the Asset's Value?

Could Scalable Bitcoin Payments Undermine the Asset’s Value?

With the wild journey that is bitcoin price swings so far this year, you might have missed the accelerating rhythm of companies announcing services to support bitcoin for payments. We’re not talking about small idealistic startups, either. A week ago, on Visa’s Q1 earnings call, CEO Al Kelly said the company may add cryptocurrencies to …

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Credit Card Companies Should Offer Stablecoin Payments or Be Left Behind: Gartner

Credit Card Companies Should Offer Stablecoin Payments or Be Left Behind: Gartner

Centralized payment companies such as Visa, Mastercard and PayPal will need to adapt if they are to survive the potential demand for blockchain-based stablecoin payments, according to research firm Gartner. In a Thursday blog post, Gartner notes that, while new bitcoin offerings from such firms are helping to prepare the transition to a future payment …

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The Biden transition team just added one of the country’s most serious thinkers on the future of payments

The Biden transition team just added one of the country’s most serious thinkers on the future of payments

Quick Take Former CFTC chair Gary Gensler is no crypto enthusiast, but he takes the underlying payments technology very seriously. As an MIT professor, Gensler argued that cryptocurrency has exposed shortcomings in traditional existing payments infrastructure. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on …

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Silvergate’s payments platform crosses $100B in transfer volume

Silvergate’s payments platform crosses $100B in transfer volume

Crypto-friendly bank Silvergate said it was particularly “bullish” on its payments platform during its Q2 earnings call. Now it’s announced the Silvergate Exchange Network (SEN) has exceeded $100 billion in transfer volumes. The bank announced the milestone in a release today, addressing the rapid growth of the platform. The bank developed it in 2017 as …

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Europe Has Fallen Behind on Digital Payments, Lagarde Says

Europe Has Fallen Behind on Digital Payments, Lagarde Says

A European Central Bank (ECB) panel tasked with exploring a central bank digital currency (CBDC) is set to reveal its findings in the near future, followed by a public consultation, said ECB President Christine Lagarde. Speaking at the Deutsche Bundesbank’s conference on banking and payments in the digital world Thursday, Lagarde addressed the competition to …

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Crypto-friendly fintech firm Ziglu receives e-money license, launches P2P payments

Crypto-friendly fintech firm Ziglu receives e-money license, launches P2P payments

Ziglu, a crypto-friendly fintech firm based in London, has received an Electronic Money Institution (EMI) license from the U.K.’s Financial Conduct Authority and has launched peer-to-peer (P2P) payments for both fiat and cryptocurrencies. The EMI license, which allows Ziglu to issue e-money and provide payment services, was issued on September 1. The firm initially applied …

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