Category: Payments
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Cryptocurrency Exchange Bitex Launches in the UAE
Bitex has officially launched as the United Arab Emirates’ (UAE) newest digital asset exchange. The Dubai-based trading platform will initially support bitcoin core, bitcoin cash, ethereum and litecoin. Bitex also announced the launch of a cryptocurrency wallet that offers an additional cash deposit service, according to media reports. Also read: Market Slump Puts Crypto Derivatives in…
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Zimbabweans Use BTC to Pay for Food Hampers Amid Foreign Currency Crisis
Study263, a Zimbabwean-owned fintech startup operating from South Africa, has opened an online store allowing Zimbabweans to buy food hampers that are delivered directly to their homes. Shoppers have the option to pay for items like cooking oil and baked beans in BTC, Paypal or Ecocash, a local mobile money payment system. Also Read: Ivy and…
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Singapore Finalizes Regulatory Framework for Cryptocurrency Payment Services
The central bank of Singapore has finalized the country’s new regulatory framework for payment services, which now includes cryptocurrency. Crypto payment service providers, which fall outside of the current regulatory framework, will need to be licensed under the new regime. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Regulating Crypto Payment Services The Monetary…
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Ivy and Hiveex Launch Ivypay to Facilitate Consumer Bill Payments in Australia
Ivypay, a cryptocurrency-based payments platform, was launched in Australia on Nov. 19. The service — built by blockchain company Ivy in partnership with Hiveex, a cryptocurrency broker — allows Australians to use digital currencies to pay bills and transfer money directly into their bank accounts. Also Read: Islamic Countries Challenge USD ‘Sanctioning Tool’ With Planned Common…
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Bitcoin ATMs Most Common Scam Payment Method in Australia
The Australian Taxation Office (ATO) has warned taxpayers to be “on high alert” for phone scammers demanding payment through bitcoin ATMs. It said payments via BTC cash machines have now overtaken iTunes vouchers as the most common method of scam payment reported to the tax authority. Also Read: IMF: Central Banks Could Issue Digital Currency Tax…
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IMF: Central Banks Could Issue Digital Currency
Christine Lagarde, the managing director of the International Monetary Fund (IMF), has said central banks throughout the world should consider issuing digital currency to make transactions more secure. At a recent conference in Singapore, Lagarde argued that state-backed cryptocurrencies could satisfy public policy goals related to financial inclusion, consumer protection, privacy and fraud prevention. Also…
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Digital Bank Revolut Surpasses 3 Million Customers
U.K. startup Revolut has announced that its customer base has surpassed three million users. The fintech platform, which has quickly become a viable online alternative to traditional banking, was established in 2015. It currently offers payment and exchange services for a growing number of fiat currencies and cryptocurrencies. Also read: Huobi Opens in Russia, Plans…
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Sompo Holdings Acquires 10% Stake in Kenyan Cryptocurrency Exchange Bitpesa
Japanese insurance group Sompo Holdings has acquired a 10 percent stake in Bitpesa, a Kenyan digital currency exchange and payments company, for 570 million yen ($5.02 million). The deal is expected to further digitize the insurer’s international remittance service. Also Read: Namibian Bitcoin Trading Platform BTN Persevered Despite Crypto Ban Crypto-Backed Remittances Sompo Holdings said in…
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Iran Completes Development of Rial-Supported National Cryptocurrency
Iran has finalized the development of its national cryptocurrency, which is backed by the local fiat unit, the rial. Once the Central Bank of Iran (CBI) approves its use, the yet-to-be-named digital currency will then be issued to banking institutions for testing in payments, internal and interbank settlements according to local media reports. Also Read: Bahamas…
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This Chicken Coop Feeder Is Powered by Bitcoin Cash Payments in Real Time
On Oct. 25, an individual posted a live stream on the Twitch Interactive video platform to show the world how Bitcoin Cash (BCH) proponents can instantly feed his chickens online using zero-confirmation transactions. Since the stream kicked off, people have processed over $300 worth of BCH transactions to feed the fowl. Also read: Miners Have Begun Using…