China giving away $6 million in Beijing digital yuan test
The Beijing Local Financial Supervision and Administration Bureau plans to give away 200 red envelopes to local residents, with each containing 200 digital yuan (around $31).
Latest digital payments News
Apple wants business development manager for alternative payments
The job post outlines that the company is seeking someone with at least 10 years of experience in the field, of which at least five should have been served “with alternative payment providers.”
Fed’s Lael Brainard: CBDC may provide important foundation for US retail payments
Lael Brainard, a member of the Federal Reserve Board of Governors, recently spoke about the Federal Reserve’s approach and thoughts on the blockchain and digital asset industries.
CBDCs may disrupt financial systems: Fitch Ratings
In its latest report, Fitch Ratings looked into how CBDCs could impact the global financial system, including giving governments a new way to track financial data and new financial policy options.
Bahamas launches the first digital currency-linked debit card
The Bahamas launched the Sand Dollar as it sought to insulate its financial system against the constant disruptions that occur whenever the country experiences a natural disaster.
Russian mobile networks plan wallet and payment services for digital ruble
Mobile networks Beeline and Megafon are reported to be considering supporting services for an eventual central bank digital currency.
BIS head: Bitcoin may break down altogether, has no actual value backing
The head of the Bank for International Settlements believes that Bitcoin could end up collapsing altogether.
India’s central bank exploring the need for digital currency
In a recent outlook on payments in the digital era, the bank justified its earlier apprehension, but revealed that it’s now open to the possibility of a digital rupee.
Visa calls off $5.3B acquisition of digital currency-friendly startup Plaid
The consumer credit giant was set to acquire Plaid for $5.3 billion, but antitrust claims from the Department of Justice have brought the deal to an end.
Pakistan launches Bill Gates-backed Raast instant digital payments system
Known as Raast, the system is especially aimed at availing digital payments to women who have been financially marginalized for decades.
China unveils first digital yuan physical card in Shanghai
Unlike in Shenzhen, Beijing and Suzhou, the People’s Bank of China is expanding beyond the use of smartphones to make digital yuan payments.
2020 year in review: Revolutionary use cases of blockchain in banking and finance
Patrick Thompson takes a look at some of the revolutionary developments in banking and finance that took place in 2020 involving blockchain technology and digital currency.