What's New in Payments

Facebook scales back its digital currency plans

Facebook-backed Libra cryptocurrency project is scaled back — The New York Times — “The Libra project will now focus on creating a more traditional payment network in which coins will be tied to a local currency, somewhat like the digital dollars in a PayPal account. While Libra will also have a coin backed by multiple national currencies, which was the focus of the initial design documents, that will be less prominent.”


What's New in Payments

IBM patents self-aware cryptocurrency token

IBM awarded patent for ‘self-aware token’ — Coindesk — “The patent outlines a ledger-based payments system that could make it easier for individual users, businesses and governments to track and trace transactions made using a cryptocurrency. Dubbed the ‘self-aware token’, it is designed to record all transaction data when not being used on a payments platform IBM patented in 2012. When the token rejoins the platform ecosystem at a later stage, it automatically uploads data from any ‘off-line transactions’.”





What's New in Payments

Payments networks to drop support for Facebook’s Libra digital currency?

Visa, Mastercard, others reconsider involvement in Facebook’s Libra network — The Wall Street Journal — “Visa Inc, Mastercard Inc and other financial partners that signed on to help build and maintain the Libra payments network are reconsidering their involvement following a backlash from US and European government officials, according to people familiar with the matter.”




What's New in Payments

Visa, Mastercard and PayPal back Facebook’s Libra cryptocurrency launch

The Libra Association — Libra — “Libra is a global, digitally native, reserve-backed cryptocurrency built on the foundation of blockchain technology. People will be able to send, receive, spend, and secure their money, enabling a more inclusive global financial system… The Libra Association is made up of a group of diverse organizations from around the world… This initial group of organisations will work together to finalize the Libra Association’s charter and will become the association’s Founding Members upon its completion.”


What's New in Payments

Facebook unveils its blockchain digital wallet plan

Coming in 2020: Calibra — Facebook — “Today we’re sharing plans for Calibra, a newly formed Facebook subsidiary whose goal is to provide financial services that will let people access and participate in the Libra network. The first product Calibra will introduce is a digital wallet for Libra, a new global currency powered by blockchain technology. The wallet will be available in Messenger, WhatsApp and as a standalone app — and we expect to launch in 2020.”



What's New in Payments

Coinbase launches Visa-backed cryptocurrency debit card

Spend your crypto instantly with Coinbase Card — Coinbase — “We’re excited to announce the launch of Coinbase Card, a Visa debit card that lets customers in the UK spend crypto as effortlessly as the money in their bank… Coinbase Card is currently only available in the UK, but we plan to support other European countries in the coming months.”


What's New in Payments

Visa seeks product manager for cryptocurrency team

Technical Product Manager, Visa Fintech — Visa — “As a product manager on the Visa Crypto team, this person will have responsibility for executing Visa’s product strategy within the cryptocurrency ecosystem. This highly motivated individual will be responsible for managing a product roadmap and collaborating with key stakeholders across the strategy, risk, research and engineering organisations.”



What's New in Payments

JP Morgan to launch its own cryptocurrency

JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business — CNBC — “Each JPM Coin is redeemable for a single US dollar, so its value shouldn’t fluctuate, similar in concept to so-called stablecoins. Clients will be issued the coins after depositing dollars at the bank; after using the tokens for a payment or security purchase on the blockchain, the bank destroys the coins and gives clients back a commensurate number of dollars.”


Samsung to include a cryptocurrency key store in the Galaxy S10?

Samsung Blockchain KeyStore confirmed by Galaxy S10 leaked images — SamMobile — “The images show the Samsung Blockchain Keystore app running on the Galaxy S10. The splash page mentions that this app is a ‘secure and convenient place for your cryptocurrency’… There’s also going to be a relevant menu item for Blockchain KeyStore in the Settings app under the Biometrics and Security section. It mentions that the service lets users secure and manage their blockchain private key.”



Rambus launches bank-grade blockchain and cryptocurrency security platform

Vaultify by Rambus

PARTNER NEWS: Rambus has launched Vaultify Trade, a blockchain and cryptocurrency security platform that leverages the company’s expertise in tokenization and encryption to let banks safely offer their clients a range of value-added digital asset services from within their existing mobile banking apps — with bank-grade security... More


Feed for stories about Cryptocurrency.