Category: Payments and Banking

Why BitMEX is betting its future relevance on a 268-year-old German bank

Why BitMEX is betting its future relevance on a 268-year-old German bank

Quick Take The embattled crypto exchange has made a bold swoop for an ancient German bank. CEO Alexander Höptner hopes he can vault BitMEX back into the ranks of the biggest crypto exchanges, but time is of the essence.  This feature story is available to subscribers of The Block Daily. You can continue reading this […]

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El Salvador’s Chivo wallet keeps breaking, and users are seeking answers

El Salvador’s Chivo wallet keeps breaking, and users are seeking answers

While many spent the holiday season with friends and family, at least dozens of people in El Salvador were also dedicating a good chunk of time to chasing down customer support for their government-provided bitcoin wallets — and posting about it on Twitter. Sometime between November and December, the website began to fill up with […]

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JPMorgan plots surge in technology spending for 2022

JPMorgan plots surge in technology spending for 2022

JPMorgan said last week that it plans to significantly scale its technology investment and spending initiatives in 2022. The revelations came during a fourth-quarter earnings call on January 14, during which JPM executives including chairman and CEO Jamie Dimon staked out the importance of such spending, including on talent acquisition and what he called “change […]

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MoneyGram buys minority stake in crypto company Coinme

MoneyGram buys minority stake in crypto company Coinme

MoneyGram, the publicly traded money transfer company, has completed a strategic minority investment in Coinme, a cryptocurrency cash exchange in the US, the company announced today. The investment gives MoneyGram a 4% ownership stake in Coinme and closes out the exchange’s Series A financing round. The investment builds on a previous partnership between MoneyGram and […]

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JPMorgan’s Onyx blockchain unit is working with German industrial giant Siemens on payments

JPMorgan’s Onyx blockchain unit is working with German industrial giant Siemens on payments

JPMorgan’s dedicated blockchain-centric payments unit is reportedly working with Siemens, the German industrial conglomerate, on a new approach to streamlining how it handles payments internally. The Financial Times reported Monday that the JPM unit, Onyx, is building the system in order to automate payments between Siemens accounts. The system will be denominated in US dollars, […]

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Revolut given nod to push into credit with European banking license

Revolut given nod to push into credit with European banking license

Revolut Bank has been granted a full banking license in Europe through its Lithuanian base, simplifying its structure and marking a move to expand services on the continent.  The decision by the European Central Bank (ECB) will grant Revolut new capabilities such as issuing consumer credit.  Revolut’s European customers will now be protected under the […]

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Crypto payments startup Ramp closes $52.7 million raise

Crypto payments startup Ramp closes $52.7 million raise

Ramp, the payments infrastructure crypto startup, has closed a $52.7 million Series A raise led by Balderton Capital, according to an announcement. The Block reported in October that the company, which is based in Warsaw and London, was set to raise $30 million at a $300 million valuation led by Balderton, citing people familiar with […]

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‘DeFi could solve the last mile problem for remittances,’ says TransferGo CEO

‘DeFi could solve the last mile problem for remittances,’ says TransferGo CEO

Quick Take TransferGo recently closed a $50 million Series C round co-led by Elbrus Venture Fund III and Black River Ventures. The Wise rival has been exploring whether decentralized technologies could make the remittance process more efficient.   This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature […]

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Tribal Credit, Bitso and Stellar Development Foundation unveil cross-border payment tool in Mexico

Tribal Credit, Bitso and Stellar Development Foundation unveil cross-border payment tool in Mexico

San Francisco-based startup Tribal Credit is working with Latin American exchange Bitso and the Stellar Development Foundation to launch a new cross-border payment system for businesses in Mexico and the U.S. The tool is aimed at making it cheaper and faster for small and medium-sized enterprises (SMBs) in Latin America to send payments to other […]

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