Polygon has completed its acquisition of Coinme, making Polygon Open Money Stack a U.S.-regulated payments platform, the company said in an Oct. 14 blog post. “This is a huge step for Polygon,” the company said in the post. “We’ve spent years building infrastructure that moves money onchain. Now Polygon has...
HSBC has launched its first stablecoin, HSBC RedCoin (RCHKD), in Hong Kong, saying in a Friday (Oct. 23) press release that it is built for everyday payments and transactions. HSBC RedCoin is licensed and regulated by the Hong Kong Monetary Authority (HKMA), is Hong Kong dollar (HKD) denominated and became available...
Digital money is pushing banks toward making decisions about infrastructure well beyond whether to issue a token. Among the decisions that need to be made: Which forms of digital money belong inside their own relationships, which need broader distribution, how different networks connect and what...
Mastercard introduced a risk intelligence solution designed to enable more secure stablecoin payments, the company said in a Monday (Oct. 19) press release. The new Stablecoin Security solution combines payment and blockchain intelligence to help financial institutions assess risk from payment initiation through on-chain movement....
Marqeta’s enterprise customers can now offer stablecoin-backed cards powered by Coinbase, the companies said in a Friday (Oct. 16) press release. This offering is enabled by a new collaboration that integrates Marqeta’s card issuing platform with Coinbase’s infrastructure, according to the release. Together, they will provide a...
A company sends half a million dollars to an overseas supplier using stablecoins. The transaction settles in seconds, the blockchain confirms delivery, and the payment provider reports success. Then the supplier says the money never arrived. The transaction may be technically complete. The commercial obligation...
Euro-pegged stablecoin project Qivalis has received permission from the Dutch central bank to operate as an electronic money institution. The authorization from the De Nederlandsche Bank (DNB), announced Wednesday (Oct. 14), places the company under direct, ongoing supervision by DNB and fulfills a primary regulatory...
Stablecoin payments platform Rain has begun offering embedded stablecoin wallets. The new wallet is something Rain’s partners can offer within their own apps, with the ability to earn on balances expected to arrive by the year’s end, the company said in a Tuesday (Oct. 13)...
Banks investing in digital money need more than the technology to issue, custody or move digital assets. They need people who can connect those capabilities to the systems and controls already running the bank. Forty-two percent of financial institutions identify skills gaps as an obstacle...