This week saw a funding round of more than $550 million for a commercial digital banking provider, as well as a $120 million round for a Swiss-licensed cryptocurrency assets trade and custody services provider. Meanwhile, Toronto-based small business invoice funding fintech FundThrough announced a strategic acquisition of certain BlueVine business and personnel. Qonto Paris-based digital […]

Visa and ConsenSys, a blockchain software startup, are working to develop a central bank digital currency (CBDC) pilot program to explore retail applications such as cards and wallets. Both firms will first meet with an estimated 30 central banks to discuss the goals that governments hope to achieve with government-backed digital currency. The pilot program is scheduled to begin in the spring of this year. Visa To Pilot CBDC In Select Countries Visa (V) announced on Thursday that it will take its crypto services to the next level by teaming with blockchain software company Consensys to create a central bank digital currency onramp (CBDC). The payments giant plans to launch a “CBDC sandbox” in the spring, where central banks can try out the technology after minting it on Consensys’ Quorum network. Visa Trades At $214. Source: TradingView Customers will be able to use their CBDC-linked Visa card or digital wallet anyplace Visa is accepted globally, according to Catherine Gu, Visa’s head of CBDC, who spoke with ConsenSys in a blog post Q&A. Gu Said: “If successful, CBDC could expand access to financial services and make government disbursements more efficient, targeted and secure – that’s an attractive proposition for policy makers.” A CBDC is a type of central bank obligation that is issued in digital form and can be used by the general public, comparable to the US dollar. Related article | Visa Survey Shows Crypto Payments Could Boom In 2022 Countries Are Launching CBDCs The decision comes as regulators around the world struggle to figure out how to treat CBDCs in a changing financial landscape dominated by cryptocurrencies. The notion that crypto and digital money will upend financial markets or replace fiat currency is a major issue. Mastercard also announced the launch of a CBDC test platform in 2020, which allowed banks to simulate the issuance, distribution, and exchange of CBDCs amongst banks, financial service providers, and consumers. “Central banks are moving from research to actually wanting to have a tangible product they can experiment with,” Chuy Sheffield, Visa’s head of crypto. If Visa is successful, it might help bridge the gap between central banks and financial institutions. Visa is accepted by over 80 million merchant locations worldwide. In the last year and a half, the number of countries investigating CBDCs has more than doubled. According to the Atlantic Council’s CBDC tracker, at least 87 different countries — accounting for 90% of global GDP — are considering financial technology in some way. China has already started a number of digital yuan pilot initiatives and plans to accept the currency for the Beijing Winter Olympics. Nigeria and the Bahamas have their own CBDCs in circulation. In early December, Visa announced the formation of a worldwide crypto advisory practice to assist financial institutions in developing their cryptocurrency operations as demand for crypto goods grows. Related article | Visa Is Building A Payment Channel Network On Ethereum Featured image from Pixabay, chart from TradingView.com

Cryptocurrency trader Justin Bennett is revealing where he sees Bitcoin (BTC), Ethereum (ETH) and two altcoins heading in the coming days and weeks. Starting with Bitcoin, Bennett tells his 7,820 YouTube subscribers that the first resistance level the flagship cryptocurrency will come up against if it keeps going up is at $45,600. According to Bennett, […]

The post Here’s What Next for Bitcoin, Ethereum and These Two Altcoins, According to Crypto Analyst Justin Bennett appeared first on The Daily Hodl.

The trend of blockchain adoption is set to continue in 2022. Here are three sectors that are likely to pivot toward DLT solutions.

These bottom-up “transition agents,” from private business to the freedom ladder, will be what drives us all to hyperbitcoinization.

In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team talks findings in Microsoft’s Work Trend Index Frontline Workers survey, which found that more than 40% of the global workforce plans on quitting their job this year. The survey also revealed that two-thirds of banking and financial services employees feel supported […]

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According to British lawmakers, a central bank digital currency (CBDC) is likely to raise the cost of borrowing while hurting financial stability. They insist the touted potential advantages of a digital pound are being overstated. Erosion of Privacy British lawmakers have said the use of a central bank digital currency when making regular payments […]

Latin American payments company EBANX is doubling down on its commitment to its business in Mexico, opening its first office in Mexico City and introducing a range of solutions designed to help Mexican companies offer new payment experiences for their customers in-country. These solutions include credit and debit cards, installments, OXXO and OXXOPay, SPEI, and Read more...

The post Latin American Payments Giant EBANX Expands Operations in Mexico; Itaú Unibanco to Acquire Brazilian Broker Ideal appeared first on Finovate.

Bitfinex is the latest crypto exchange to pull out of the Canadian province of Ontario.

The post Bitfinex withdraws from Ontario amid major push against centralized exchanges appeared first on The Block.

By Casper Sorensen, Vice President, Customer ExperienceThe following is the latest update in our series of blog posts describing our commitment to continuously...

The Ontario Securities Commission has been responsible for cracking down on crypto exchanges operating in the region, including Binance, OKEx, Bybit, KuCoin and Polo Digital Assets.