Tag: Payments and Banking

Galaxy Digital and NfX lead $9 million raise into Ramp

Galaxy Digital and NfX lead $9 million raise into Ramp

Ramp, the payments infrastructure startup focused on crypto on-ramps, has closed a $9 million seed round led by venture capital firm NfX and Mike Novogratz’s Galaxy Digital. Founded in 2017, Ramp styles itself as a “PayPal for crypto” service. It aims to make the process of interacting with crypto-assets — whether that’s bitcoin or Non-Fungible […]

Continue Reading

Italian securities regulator head says crypto could negatively affect market

Italian securities regulator head says crypto could negatively affect market

The head of Italy’s securities market regulator, Commissione Nazionale per le Società e la Borsa, has said the increasing use of cryptocurrencies outside of a regulated marketplace may have negative consequences. According to a Reuters report published Monday, Consob chairman Paolo Savona called for increased regulation, saying cryptocurrencies could lead to illegal activity like money […]

Continue Reading

Basel Committee proposes strict capital requirements for banks with bitcoin exposure

Basel Committee proposes strict capital requirements for banks with bitcoin exposure

The Basel Committee for Banking Supervision, the global standards body for bank regulation, published a consultation on Thursday that, if ultimately put into effect, would impose strict capital requirements for banks that have exposure to bitcoin and other cryptocurrencies. It’s a notable release, given that major banks around the world pursue custodial services in response […]

Continue Reading

El Salvador becomes the first country ever to make bitcoin legal tender

El Salvador becomes the first country ever to make bitcoin legal tender

El Salvador’s legislature has passed a bill that will make bitcoin legal tender in the country. This marks the first time a country will recognize the cryptocurrency as a satisfactory form of payment for any sort of monetary debt. El Salvador’s president, Nayib Bukele, submitted the bitcoin proposal to the Legislative Assembly on Tuesday evening, […]

Continue Reading

US Senate Banking Committee to hold virtual hearing on central bank digital currencies

US Senate Banking Committee to hold virtual hearing on central bank digital currencies

Members of the US Senate Committee on Banking, Housing and Urban Affairs are set to hold a hearing on central bank digital currencies later this month. Set for 2: 30 p.m. ET on June 9, the hearing is entitled “Building A Stronger Financial System: Opportunities of a Central Bank Digital Currency.” The committee hearing will […]

Continue Reading

Anchorage rolls out ETH-backed loans with America’s 10th oldest bank

Anchorage rolls out ETH-backed loans with America’s 10th oldest bank

Digital asset bank Anchorage is building out its borrowing and lending tools, and it sees its new ether-backed loans as the path to institutional growth. The firm rolled out its latest lending product today in partnership with BankProv, which was founded in 1828 (known then as The Provident Bank). The tie-up will allow institutions that […]

Continue Reading

Paxful launches e-commerce tool to let businesses receive bitcoin payments

Paxful launches e-commerce tool to let businesses receive bitcoin payments

Paxful, a peer-to-peer (P2P) marketplace with over six million users, announced Thursday the launch of its e-commerce tool Paxful Pay, according to a release from the firm.  “To date, Paxful Pay has only worked with a limited number of merchants — just over 100 — in select regions to test the product and improve its […]

Continue Reading

California man sentenced to two years in prison for operating a bitcoin transmission business

California man sentenced to two years in prison for operating a bitcoin transmission business

Kais Mohammad, a 37-year-old man from Yorba Linda, California, was sentenced to two years in federal prison for allegedly illegally operating a bitcoin-based money transmission business, according to a release from the U.S. Department of Justice.  Court records suggest that Mohammad, a compliance-trained former bank employee, operated his business “Herocoin” from 2014 to 2019, where […]

Continue Reading

ECB warns of ‘risks to stability’ if central banks don’t offer digital currencies

ECB warns of ‘risks to stability’ if central banks don’t offer digital currencies

The European Central Bank (ECB) published a report about the international role of the euro Wednesday, touching upon the importance of central bank digital currencies (CBDCs) for future financial strength.  The authors of the CBDC portion of the report were economist Massimo Ferrari and international economist Arnaud Mehl, both affiliated with the ECB.  They stated […]

Continue Reading

Coinbase links its Visa debit card with Apple Pay, Google Pay

Coinbase links its Visa debit card with Apple Pay, Google Pay

Coinbase’s debit card product is now usable via Apple Pay and Google Pay, according to a Monday blog post from the crypto exchange and services provider.  The firm also said Monday that “starting this week, we’ll invite select customers off the waitlist” for its card product. After initially being available to UK and EU-based customers, Coinbase […]

Continue Reading