Digital Currency

Lux Vending LLC, which does business as Bitcoin ATM operator Bitcoin Depot Inc., has agreed to deploy its machines in 125 locations owned by convenience-store chain GetGo Cafe + Market. Overall, Bitcoin Depot operates approximately 7,000 machines in 48 states and 10 Canadian provinces. Digital-currency provider Circle Internet Financial LLC said it has …

E-commerce wasn’t the only market that ballooned after the pandemic set in. Fraud took off, too, and attracted novice practitioners in the bargain. Of more than 1,000 consumers surveyed by Sift Science Inc. for a report it released Thursday, some 16% admitted they had committed payment fraud, or knew someone …

Merchant Machine, a United Kingdom-based payments information and comparison site, issued a report on contactless transaction limits around the world. Only two nations, Ecuador and the United States have no limit, though banks or merchants may set their own limits, Merchant Machine said. Payments-technology provider BHMI announced an entity-relationship component for its …

As if cryptocurrency didn’t have enough problems with the financial failure of the major FTX exchange, plummeting values, and, most recently, links to two of the biggest bank failures in U.S. history, now criminals are running scams built around crypto trading to defraud consumers. The scams, known as “pig butchering,” …

The stunning bank failures of recent days, all of them involving institutions with wide exposure to cryptocurrency, are likely to have a deep impact not only on blockchain products but on payments more broadly, experts say. A stronger case for a digital dollar, stricter regulation of digital currencies in general, …

Signature Bank on Sunday became the latest domino to fall in a reckoning that is expected to have widespread ripple effects not only for banking but for the burgeoning cryptocurrency industry. The New York City-based bank, closed by state regulators, is said to be the third-largest bank failure in U.S. …

RevoluGroup Canada Inc. said its RevoluPay mobile-payments app has added payments on the automated clearing house in the United States, the Faster Payments Service (FPS) in the United Kingdom, and SEPA Instant in Europe. The company said it will add Visa Direct in May. The total value of payments made with …

Digital-currency operators are working behind the scenes despite a depressed outlook brought on by the collapse of the major exchange FTX and a general rout in most cryptocurrency values. One example is Mercuryo, a London-based fintech, which on Friday said it has introduced a banking-as-a-service (BaaS) application that enables digital-asset …

Silvergate Capital Corp. said it will wind down its operations and return deposits to customers after it was forced to sell assets at a loss. Silergate last year acquired the assets of stablecoin venture Diem Group, formerly known as Libra. U.S. retail sales in February, excluding automotive, were up 6.9% from February 2022, …

Among some 108 banks in North America, Europe, and Asia-Pacific, nearly half indicate they have lost at least 10% of their payments volume to fintechs, according to an Aite-Novarica report supported by payments platform Finastra. As a result, some 65% plan to make a significant or moderate investment in payments technology …