The ideas and discussions for bringing cryptocurrencies in use for cross-boundary transfer of money and remittances have been going around for a long time. Cryptocurrencies or digital currencies hold the potential and possibility of bringing convenience and comfort to the transfer and payment of money. Moneygram, a money transfer company, has become one of its kind to introduce cryptocurrencies in its operations. Moneygram, which stands after Western Union, as the second-largest money transfer company has announced that they will be now making use of Ripple xRapid network. According to Chief Executive Officer on Moneygram, Alexander Holmes,” The firm is...Read More
Author: Fintech Crypto News
Grayscale Investments, a digital asset management fund company, will today, transfer nearly $3 billion worth in cryptocurrency holdings to an American major crypto wallet provider and exchange Coinbase. Grayscale Investments is a trusted company in cryptocurrency investing, which was established in 2013, by Digital Currency Group. It has its headquarters located in New York, United States. Huge Single Day Crypto Transfer As per Forbe’s report on August 2, Grayscale is going to transfer nearly $3 billion worth in cryptocurrency holdings which includes Bitcoin, Ether, Bitcoin Cash, Ripple, Litecoin, and some other digital currencies, to Coinbase, where Coinbase Custody...Read More
Brazilian cryptocurrency exchange M Intermediação e Prestação de Serviço Ltda. marked a legal victory in the court of Brazil. The court has ordered to reopen its accounts in Banco Bradesco, a bank in the country. The lawsuit was filed after the closure of this cryptocurrency firm’s bank account. According to a report, this cryptocurrency firm is letting its users make deposits and withdrawals both in Bitcoin and Brazilian real money. In 2018, the bank decided to block the firm’s account, claiming that some unusual activity was detected in their security system. As a result of this, the bank blocked...Read More
A former Royal Bank of Scotland (RBS) engineers’ team is bringing settlement of digital assets and trading, including cryptocurrencies, to a network originally developed for enterprise based on private blockchain. Led by ex-RBS innovation lead Richard Crook, London-based LAB577 is rolling out its first-ever platform offering, the Digital Asset Shared Ledger (DASL, pronounced as “dazzle”). DASL is built on top of the open-source blockchain system, the Corda Network, created by R3 – a bank consortium that once personified the “blockchain, not bitcoin” ethos of 2015-2016. It is a sign of the level of evolution that industry has demonstrated as...Read More
According to PhilStar Global – a Filipino media outlet, the Union Bank of Philipines has issued its own stablecoin, PHX. The first blockchain-based transaction was also conducted by the Filipino bank along with the issuance of the stablecoin. Backed by Union Bank reserves, the stablecoin PHX is pegged to the Philipino peso. “PHX is a stable store of value, medium of exchange and is a programmable token with self-executing logic. It enables transparent and automatic execution of payments,” said UnionBank Senior Vice President Arvie de Vera. The bank’s blockchain transaction occurred on its i2i payment system that connects institutions,...Read More
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