News
"Due to the uncertainty concerning their ongoing litigation with the SEC, the company has suspended trading on Ripple's platform," says MoneyGram's quarterly outlook.
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Payments News
Bitcoin, as any other type of money, is able to act as a means of payment. Bitcoin payments are supposed to be fast, secure and private, but there are some complications. Since every Bitcoin transaction must be recorded in the blockchain, the growing amount of strain on the network has resulted in transactions taking nearly four days to complete. As miners are paid with the fees from recording transactions, larger fees could help speed up your transaction, but this makes it unreasonable to pay with Bitcoin for small purchases, which are always the majority of transactions. These problems resulted in a hard fork and the establishment of Bitcoin cash, which is much faster and cheaper for payments. Other cryptocurrencies were made as an alternative for Bitcoin payments, by storing them in public blockchains or by getting rid of established mining pools, possibly resulting in the ability to double-spend a Bitcoin, if a successful 51% attack is performed.
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Mark Carney, one of the most prominent central bankers of the post-financial crisis era, has officially joined the digital payments company. Stripe has all but abandoned cryptocurrency payment solutions for the time being, but its founders are positive about the emerging industry.
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"More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws," said Caitlin Long.
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Some Portuguese residents will reportedly be able to pay for electricity in Bitcoin starting from February.
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Akon’s Akoin cryptocurrency is set to become the exclusive cryptocurrency of the Mwale Medical and Technology City in Kenya.
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The Swiss canton of Zug is now accepting Bitcoin and Ether for tax payment from local companies and individuals.
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Another Chinese banking institution has created a hardware wallet for the country’s central bank digital currency.
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The Central Bank of the Bahamas partnered with Mastercard and digital payment startup Island Pay to launch a card for its central bank digital currency.
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"It's going to be a dollar economy as far as the eye can see," said James Bullard.
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Fireblocks and First Digital Asset Group have developed a seamless connection to Diem, allowing financial institutions to access the emerging payment network. The platform is still awaiting regulatory approval before it can launch.
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Bitpay prepaid Mastercard users can now connect with Apple Pay for purchases.
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The City Commission of Miami is now looking into the feasibility of allowing Miami residents to pay taxes and receive salaries in Bitcoin.
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CEO Dan Schulman said last week the company would add crypto buying, selling, and custody features to "Venmo and select international markets" in 2021.
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Amazon has been silently working on a new digital currency project in Mexico, according to the company’s job postings.
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Will Bitcoin’s premier layer-two solution finally graduate from experiment to everyday utility, following its adoption by major exchanges?
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