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PayPal And Ripple Launch Stablecoin Initiatives As Crypto Values Rise And Plummet
The wild—and somewhat unpredictable—swings in value that beset digital currencies have begun to lead major payments players to consider a promising alternative: stablecoins, so named precisely because their values are pegged to a national currency, such as the U.S. dollar. Early on Thursday, PayPal Holdings Inc. and Ripple Labs Inc. …
Read More »PayPal Ventures Invests in Mesh Connect—With Its Stablecoin
PayPal Holdings Inc. has put its new stablecoin to work as an investment tool with a PayPal USD investment in Mesh Connect Inc., an embedded-finance platform. Announced Monday, the stake from PayPal Ventures, the digital wallet’s investment arm, was made almost entirely in PayPal USD, a stablecoin PayPal introduced in …
Read More »Eye on Crypto: A MoneyGram Launch; Wirex Partners With OnRamper; Bitget Lists PayPal’s Stablecoin
MoneyGram International Inc. announced Tuesday it will launch in the first quarter next year a non-custodial digital wallet that will support stablecoins. The wallet’s support of stablecoins—digital currency tied to the value of a national fiat currency, such as the dollar— will enable consumers to move from fiat currency to …
Read More »PayPal Expands a Processing Agreement With Uber, While BitPay Supports PayPal’s Stablecoin
In an expansion of its existing processing relationship with PayPal Holdings Inc., ride-sharing technology provider Uber Technologies Inc. will begin making use of PayPal’s domestic debit network routing in the United States and other markets and enable Uber drivers to receive wages directly in their PayPal and Venmo wallets. PayPal …
Read More »A Top Fed Official Points to Real Time Payments Progress While Eyeing Stablecoins Skeptically
The Federal Reserve seeks to work closely with private-sector instant-payment services and plans to carve out a regulatory role to govern developments in stablecoins, a top official at the Fed said Friday. The remarks come in the wake of the Fed’s launch in July of its FedNow real-time payments network. …
Read More »PayPal Adds PayPal USD Stablecoin; Bad to Worse for Card Skimming; iWallet’s RDC in the Field
PayPal Steps Into Stablecoin Territory With Its PayPal USD
Add a stablecoin to the roster of PayPal Holdings Inc.’s financial and payments products. Announced Monday, the PayPal USD will begin rolling out to PayPal accountholders today and in coming weeks. A stablecoin is a form of cryptocurrency pegged to a reserve asset viewed as stable, such as gold or …
Read More »Regulators Blocking Stablecoin Development? The Online Gift for Retailers; ACI CEO Out
Regulators Are Standing in the Way of Stablecoin Development, a TCH Paper Alleges
The Clearing House Payments Co. LLC early Tuesday issued a white paper alleging that federal regulators are effectively blocking national banks from issuing stablecoins. This is despite the agencies’ own conclusion that the banks have the authority to issue the digital currency, the paper says. The paper also follows an …
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