Category: Payments and Banking

Coinbase Card: A crypto rewards debit card that hints at greater depository ambitions

Coinbase Card: A crypto rewards debit card that hints at greater depository ambitions

Quick Take With news of Coinbase Card launching, we look at other debit crypto and legacy rewards offerings Coinbase Card offers a unique platform to build a larger deposit base, akin to more traditional banking models This research piece is available to members of The Block Genesis. You can continue reading this Genesis research on […]

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Report: Cambodia’s central bank has launched its Hyperledger-based payment system

Report: Cambodia’s central bank has launched its Hyperledger-based payment system

The National Bank of Cambodia has officially launched a new payment system based on distributed ledger technology (DLT), according to Reuters. The bank developed the system, which is based on Hyperledger Iroha, along with Japan-based blockchain firm Soramitsu as part of an initiative called Project Bakong.  At a conference earlier this year, Chea Serey, director-general […]

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JPMorgan is actively exploring digital asset custody, and is looking for help from crypto native firms

JPMorgan is actively exploring digital asset custody, and is looking for help from crypto native firms

Quick Take JPMorgan has been engaging with digital asset firms on how it can offer digital asset custody to its clients. The firm would enlist sub-custodians to offer the service, and has reached out to firms, including Fidelity Digital Assets and Paxos. The exploration into custody comes as the firm has rebranded its blockchain division […]

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Solana becomes fourth blockchain to support USDC

Solana becomes fourth blockchain to support USDC

Solana — the blockchain behind decentralized exchange Serum — will now support stablecoin USDC, according to an announcement by Circle.  Launched by Centre, a consortium made up of Circle and Coinbase, USDC is the second-largest stablecoin by total supply behind Tether’s USDT. In total, USDC’s supply stands at $2.7 billion, according to data from The […]

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Fnality boss expects the ‘starting gun’ soon for the project formerly known as Utility Settlement Coin

Fnality boss expects the ‘starting gun’ soon for the project formerly known as Utility Settlement Coin

Quick Take The CEO of Fnality expects central banks to clear the way for DLT-based payment systems by the end of the year. A lack of regulatory clarity has delayed Fnality’s launch. The project’s developers say calling it a “coin” confuses the issue. This feature story is available to subscribers of The Block Daily. You […]

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A 224-year-old Swiss bank’s new $250 million fintech fund is betting on tokenization

A 224-year-old Swiss bank’s new $250 million fintech fund is betting on tokenization

A recently launched fintech investment fund managed by Lombard Odier Investment Managers, the asset management arm of the Swiss private bank founded in 1796, is seeking out companies focused on “tokenization.” The fund manager launched its new fintech strategy in May, and has since amassed $250 million in assets despite challenging market conditions. Jeroen van […]

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Bahamas central bank officials say the digital ‘Sand Dollar’ will eventually work internationally

Bahamas central bank officials say the digital ‘Sand Dollar’ will eventually work internationally

The Central Bank of the Bahamas (CBOB) says it’s ready to roll out its new digital fiat currency, the so-called Sand Dollar, next week. And now the bank says the Sand Dollar won’t just be limited to local transactions. CBOB assistant manager of electronic solutions Bobby Chen, while speaking during a virtual presentation for businesses […]

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Around 100 Italian banks are now part of a permissioned blockhain network developed by R3

Around 100 Italian banks are now part of a permissioned blockhain network developed by R3

A cohort of 42 Italian banks has signed up to use a private blockchain network known as Spunta, bringing the total number now using the payment infrastructure to around 100. Spunta, which is based on R3’s permissioned blockchain platform, Corda, is an interbank reconciliation system. The network verifies the matching of correspondent accounts, which banks […]

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Silvergate’s payments platform crosses $100B in transfer volume

Silvergate’s payments platform crosses $100B in transfer volume

Crypto-friendly bank Silvergate said it was particularly “bullish” on its payments platform during its Q2 earnings call. Now it’s announced the Silvergate Exchange Network (SEN) has exceeded $100 billion in transfer volumes. The bank announced the milestone in a release today, addressing the rapid growth of the platform. The bank developed it in 2017 as […]

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