FinTech News

Doubts over the European Central Bank’s (ECB) ability to manage a digital euro have intensified after a payment system failure disrupted transactions for nearly a day.

Russia’s central bank has put the nationwide rollout of its digital ruble on hold, opting to extend the pilot phase indefinitely.

PayPal is making significant strides with its PYUSD stablecoin, integrating it into multiple platforms to simplify business and consumer transactions.

A major player in Germany’s financial sector, DekaBank, has taken a significant step into the crypto industry by launching trading and custody services for institutional investors.

Societe Generale’s SG-FORGE has taken a significant step by launching its euro-backed stablecoin, EUR CoinVertible (EURCV), on the Stellar blockchain.

Ripple has teamed up with Brazil’s Braza Group to introduce a new stablecoin, BBRL, on the XRP Ledger.

The European Central Bank (ECB) has unveiled a strategy to modernize financial transactions by enabling settlements in central bank money.

MANSA, a cross-border payments company, has secured $10 million in funding, with Tether leading the investment.

Deutsche Börse CEO Stephan Leithner is pushing for a permanent digital euro to strengthen the EU’s financial autonomy.

MasterCard’s Raj Dhamodharan, head of the crypto division, has shared insights suggesting a shift in the approach of central banks toward digital currencies.

Piero Cipollone, a member of the European Central Bank (ECB) board, recently voiced concerns about the growing influence of U.S.-backed stablecoins, suggesting that the euro zone must develop its own digital currency to maintain its competitiveness.

Ethena Labs, the team behind the initiative, plans to develop a savings and payment app that leverages the platform’s massive user base, positioning it as a key player in a $50 billion market opportunity for its synthetic dollar, USDe.

Morgan Stanley, one of the largest asset managers globally, is reportedly considering adding cryptocurrency trading to its E-Trade platform, according to The Information.

KuCoin has unveiled a new point-of-sale (PoS) system, allowing users to pay businesses directly with their crypto balances.

The Monetary Authority of Singapore (MAS) has expressed confidence in the growing potential of stablecoins as a future payment method.

Traditional banks are venturing into the stablecoin market as Tether discontinues its euro-pegged EURt token.

Russia’s largest bank, Sberbank, has officially joined the digital ruble pilot program alongside TBank and Tochka Bank, as confirmed by the Central Bank of Russia (CBR) and reported by Interfax on December 28.

A regulatory review of Klarna’s practices between April 2021 and March 2022 uncovered multiple breaches of key anti-money laundering (AML) rules.

As Shaktikanta Das concluded his tenure as the Reserve Bank of India’s (RBI) governor on December 10, he took the opportunity to highlight his lasting vision for India’s economy, particularly emphasizing the role of digital innovation.

The UAE has officially approved its first stablecoin backed by the UAE Dirham, marking a pivotal moment in the nation’s cryptocurrency landscape.

Cryptocurrency adoption continues to expand with innovative payment solutions bridging the gap between digital assets and everyday transactions.

Russia is embracing the digital era with the introduction of the digital ruble, a central bank digital currency (CBDC) set to revolutionize its financial system.

Phantom Wallet, a rapidly growing name in the crypto space, has joined forces with Transak to revolutionize how users access digital assets.

Crypto.com has announced an exciting partnership with Mastercard, allowing its customers to use their cards at over 150 million merchants globally, both in-store and online.

Coinbase has fully integrated Apple Pay into its Onramp service, allowing users to conduct transactions directly through the app starting December 2.

The European Central Bank (ECB) recently shared an update on the development of its digital euro, marking a key milestone in the ongoing preparation phase.

The stablecoin market is rapidly growing, reaching a record $190 billion in market capitalization.

Iran is preparing to introduce its own central bank digital currency (CBDC), according to Mohammad Reza Farzin, the governor of the Central Bank of Iran (CBI).

Digital asset manager Nexo has unveiled Personal USD Accounts, a groundbreaking service allowing users in over 150 countries to manage USD bank transfers directly in their own names.

India, a prominent member of the BRICS coalition, is making significant strides in expanding its cross-border mobile payments infrastructure by teaming up with several nations to advance Central Bank Digital Currencies (CBDCs).

Mastercard and JPMorgan’s new B2B cross-border payment solution marks a significant step in the integration of blockchain-based tools with traditional banking infrastructure.

A new initiative from Informal Systems, a blockchain infrastructure firm with roots in the Cosmos Network, is set to challenge traditional financial systems by enabling direct peer-to-peer debt clearing.

Ripple Labs is intensifying its efforts to support entrepreneurs and small businesses in emerging markets through its expanded partnership with Mercy Corps and the launch of the “Unlocking Opportunity” program.

The Central Bank of Brazil (BCB) has partnered with leading tech companies like Chainlink, Microsoft, and Banco Inter to further develop DREX, the country’s central bank digital currency (CBDC).

Revolut has transitioned from operating as an Appointed Representative to becoming an authorized investment firm in the UK, securing its own independent trading license.

Societe Generale’s crypto-focused subsidiary, SG-FORGE, has revealed plans to integrate its EUR CoinVertible (EURCV) stablecoin with the XRP Ledger (XRPL).

MoonPay has introduced MoonPay Balance, a new payment solution designed to enable users to store and spend fiat balances while also providing a seamless entry point into decentralized finance (DeFi).

Revolut has expanded its dedicated crypto exchange, Revolut X, to 30 new countries across the European Economic Area (EEA).

Germany’s central bank, Deutsche Bundesbank, has joined Singapore’s Project Guardian, a global initiative by the Monetary Authority of Singapore (MAS) aimed at modernizing financial markets through asset tokenization.

Norway’s central bank, Norges Bank, has backed the EU’s Markets in Crypto-Assets Regulation (MiCA) as it considers a central bank digital currency (CBDC).

The Bank for International Settlements (BIS) recently announced it is stepping back from its involvement in Project mBridge, a cross-border central bank digital currency (CBDC) initiative it has supported since 2021.

Visa has partnered with Coinbase to enable eligible debit card users to instantly deposit and withdraw funds on the exchange.

A power struggle has emerged between European Union governments and the European Central Bank (ECB) regarding control of the digital euro.

Canadians appear hesitant about fully embracing the Bank of Canada’s (BOC) digital dollar initiative, despite some interest in the concept.

In a significant move, Western Union has announced its acquisition of the mobile wallet service Dash from the Singaporean telecommunications company Singtel, although the financial details of the transaction remain undisclosed.

Mastercard is introducing an innovative platform called Product Express, designed to streamline the process for fintech companies in selecting and launching card programs.

Next year, Norges Bank, Norway’s central bank, will decide on the potential establishment of its own central bank digital currency (CBDC).

A new service is set to enable instant payments between different Tips currencies and central bank currencies.

Turkish banking leader Garanti BBVA Kripto has announced a collaboration with Ripple Inc. and IBM to enhance its crypto trading and custodial services.

Avalanche is introducing the Avalanche Card, a new way for users to effortlessly spend their cryptocurrency.

In a groundbreaking move that marks the largest acquisition in the history of the cryptocurrency industry, one fintech giant has made waves by securing a major stablecoin platform in a $1.1 billion deal.

In a significant step for the digital finance sector, Singapore’s largest bank, DBS, has launched blockchain-based banking services aimed at institutional clients.

MoonPay has introduced a new payment option for U.S. customers by adding Venmo as a way to fund accounts, making it easier to purchase cryptocurrencies.

Stripe is exploring a potential acquisition of Bridge, a stablecoin payment platform, as it aims to strengthen its foothold in the stablecoin market.

MoonPay, a cryptocurrency payment processor, has teamed up with Ripple to enhance service offerings.

Siam Commercial Bank (SCB), Thailand’s oldest bank, is set to launch stablecoin-based cross-border payment and remittance services in partnership with fintech company Lightnet.

The Stellar Development Foundation has partnered with Mastercard to improve remittances and peer-to-peer transactions on the Stellar network.

Paxos is taking strides to increase stablecoin use in the payment sector with a robust new platform aimed at payment service providers (PSPs) and fintech companies.

The People’s Bank of China (PBOC) has revealed that the digital yuan, its central bank digital currency (CBDC), has seen impressive growth, with 180 million individual wallets created by the end of July.

Stripe has reintroduced cryptocurrency payments for U.S. merchants, allowing them to accept USDC through Ethereum, Solana, and Polygon.