Digital Currency

In keeping with Washington’s friendlier attitude toward cryptocurrencies, the Federal Reserve and the Federal Deposit Insurance Corp. on Thursday pulled statements they had issued early in 2023 that had indicated a tougher stance on crypto regulation for banks. The regulators’ new approach, as indicated in a statement issued late Thursday …

The payment-services unit of Discover Financial Services reported $96 billion in volume for the first quarter, a 4% drop year-over-year, though increased debit card activity lifted Pulse’s dollar volume 3%. Diners Club volume also increased, growing 18%, but the Network Partners unit recorded a 73% slide “reflecting the anticipated exit of a …

The stablecoin platform Circle Internet Group Inc. late Monday unveiled a payments network aimed at linking financial institutions and digital wallets for cross-border payments. The network, which will enable real-time settlement using what Circle calls regulated stablecoins, represents a major new thrust for the 11-year-old, New York City-based company into …

CompoSecure Inc., a provider of metal payment cards and security technology, is integrating its Arculus cold-storage wallet with MoneyGram Access, which allows digital-wallet users to convert cash into digital currencies. These include such media as USD Coin, a stablecoin backed by U.S. dollars and dollar-denominated assets. In addition, CompoSecure announced …

[Editor’s Note: Following Digital Transactions News publication Friday, a U.S. District Court judge temporarily halted the layoffs at the CFPB, according to the Associated Press. Judge Amy Berman Jackson has scheduled an April 28 hearing on the matter.] A dramatically reduced Consumer Financial Protection Bureau will still operate, but with …

JPMorgan Chase & Co. has added support for pound-denominated accounts to its Kinexys Digital Payments system, which processes blockchain transactions for commercial accounts, Bloomberg reported. Up to now, accounts have been denominated mostly in dollars. Kinexys was launched in 2019 as JPM Coin. Theya Inc., a Bitcoin self-custody platform, launched Theya for Business, …

Block Inc. has been ordered to pay a $40-million fine to the state of New York for what the state’s regulator on Thursday called “significant failures in its Bank Secrecy Act/Anti-Money Laundering compliance program, which violated the [New York Department of Financial Services’ money transmitter and virtual currency regulations.”  The …

Fintech Branch launched a payroll debit card tied to a digital bank account instead of a prepaid card, as many payroll cards are set up. Schwarzwald Capital said it has invested an undisclosed amount in Vesta Corp., a transaction-guarantee platform for card-not-present payments. Bitcoin transaction-verification platform Branta said it has worked with Amboss, a provider of …

CelllPoint Digital, a specialist in payments orchestration, will expand the payment methods available through SabreSonic and Radixx, services offered by Sabre Corp. a travel-technology company. U.S. payments platform Spreedly Inc. said it will work with Ebanx, a payment-service provider, to support alternative payment methods for international firms operating in Latin America. Payments …

Cryptocurrency is coming to restaurants, a market that has already become hotly contested by a range of payments companies. Blaqclouds Inc., a crypto platform based in Los Angeles, announced on Friday DineWithCrypto, aimed squarely at consumers looking to order meals for delivery or pickup. DineWithCrypto has already connected to 190,000 …