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Western Union is exploring stablecoin integration for cross-border transfers, conversions and digital wallets, positioning it as an innovation opportunity. Western Union is exploring ways to integrate stablecoins into its services as the firm seeks to modernize cross-border payments. During a Monday interview with Bloomberg, Western Union CEO Devin McGranahan said that the firm views stablecoins…
” Banks with crypto services require new Anti-Money Laundering capabilities “ The new year began with the news that notable Web3 entrepreneur Kevin Rose fell victim to a phishing scam in which he lost over $1 million worth of nonfungible tokens (NFTs). As mainstream financial institutions begin to provide services related to Web3, crypto and…
” DMI finds CBDCs not targeting cross-border payments, huge potential in Metaverse “ Central bank digital currency (CBDC) development aims squarely at inclusion, both for the central bank in the national economy and for the people it serves. Meanwhile, the technology for cross-border payments is being developed elsewhere for the most part, according to a…
” Crypto’s adaptability, openness key to ideal monetary system, say BIS execs “ Governments across the globe see central bank digital currencies (CBDC) as a means to improve the existing fiat ecosystem. Cryptocurrency’s technical prowess supported by the central bank’s underlying trust is key to enabling a rich monetary ecosystem, suggests an International Monetary Fund…
” MoneyGram to open transfer platform with Stellar, eyes wallet deal in El Salvador “ MoneyGram International, one of the world’s largest cross-border transfer services, is partnering with the Stellar blockchain to create a stablecoin-based platform for money transfers. The new service will allow Stellar wallet users to send Circle’s USD Coin (USDC) to recipients,…
” WEF 2022: Bankers at WEF see the need for caution and speed on central bank digital currencies “ The process of introducing a central bank digital currency (CBDC) is fraught with unknowns, some of which were elucidated in a panel of experts gathered Monday at the World Economic Forum in Davos, Switzerland. The panel…
” SWIFT, Capgemini team up to test using the international network for CBDC transfers “ The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, the Belgian financial messaging network used by banks in international money transfers, announced Thursday that it is teaming up with French IT company Capgemini to conduct experiments with cross-border central bank…
“# How to modify or cancel a pending Ethereum transaction ” Ethereum is an open-source blockchain-based software platform with thousands of decentralized applications (DApps) that powers its native cryptocurrency, Ether (ETH), that can be sent and received globally without any third-party interference. First conceptualized in 2013 by Russian-Canadian programmer Vitalik Buterin, Ethereum was designed as…
“# Altcoins rally to new highs after the ETH/BTC pair flips bullish ” Signs that an altseason is underway are beginning to increase across the cryptocurrency market after numerous altcoins posted double-digit gains on Aug. 31. Meanwhile, the price of Bitcoin (BTC) continued to face headwinds and the digital asset trades at $47,100. The top…
“# Global payments brand Skrill expands crypto wallet services ” Paysafe, the parent company of online money transfer service Skrill, announced this week that the payment platform has integrated an additional 20 cryptocurrencies into its digital wallet, providing users with another legacy onramp to digital assets. Beginning this week, customers outside the United States will…