Tag: Payments

New York bill proposes legalizing Bitcoin, crypto for state payments

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A New York lawmaker has introduced legislation that would allow state agencies to accept cryptocurrency payments, signaling growing political momentum for digital asset integration in public services. Assembly Bill A7788, introduced by Assemblyman Clyde Vanel, seeks to amend state financial law to allow New York state agencies to accept cryptocurrencies as a form of payment. It would permit state agencies to accept payments in Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), according to the bill’s text. Source: Nysenate.gov According to the bill, state offices could authorize crypto…

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Bitcoin Payments Aren't The Future, They're Here Already

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Breez, in partnership with 1A1z, has released a new report investigating the use of Bitcoin as a payments system and transactional currency. Bitcoin has always been painted as digital gold, that is one of the longest running narratives at this point in terms of what Bitcoin actually is. It does capture the use as a long-term investment or speculative asset, and has been a very helpful aid in getting people over the first hump of basic understanding, but it is by no means a comprehensive explanation of what Bitcoin is.…

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The Hunt for the Russian Trace: Chinese Banks Implement Stricter Compliance for Foreign Payments

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Chinese banks have implemented additional compliance measures for payments from the United Arab Emirates (UAE), India, and Hong Kong, which have traditionally served as trade partners for Russia. These measures aim to identify Russian businesses using third countries as proxies to complete payments. Chinese banks now require documentation confirming that goods will be sent directly […] Source link

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HTX Integrates Lightning Network for Faster Bitcoin Payments

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HTX has announced the integration of Bitcoin’s Lightning Network, a second-layer payments protocol designed to facilitate faster and cheaper transactions. This move aims to enhance the efficiency of Bitcoin payments and withdrawals on the platform, significantly reducing transaction times and costs. The integration is part of a strategic partnership with IBEX, a fintech company specializing […] Source link

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CoinCorner And Lolly Partner To Introduce Bitcoin Payments Alongside Traditional Methods

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CoinCorner, a global leader in Bitcoin and Lightning Network services, and Lolly, the hospitality software house, have joined forces to bring Bitcoin payment functionality to the LollyPoS platform, according to a press release sent to Bitcoin Magazine.  This partnership aims to transform the way payments are processed in the industry by integrating Bitcoin Lightning payments seamlessly into the existing infrastructure. Through this collaboration, the LollyPoS platform is now capable of processing Bitcoin payments for food and drinks, in addition to conventional payment methods such as cash and cards. When customers choose the…

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Shopify to accept USDC payments with Solana: Report

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E-commerce giant Shopify has added Solana Pay to its pool of options for payment, allowing millions of merchants to use the platform to accept crypto transactions, kicking off with USD Coin (USDC) stablecoin payments.  According to TechCrunch, Solana plans to add other altcoins to the platform in the coming months, including its native token Solana (SOL) and the meme token Bonk Coin (BONK). Josh Fried from Solana Labs branded the intersection of digital assets and payment solutions as the “killer app for crypto,” adding that “[Everyone] should be doubling down…

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Litecoin halving completes as LTC sees increased payments adoption

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The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC) per block.  On Aug. 2, the Litecoin blockchain went through its automated halving procedure at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next halving in roughly four years’ time. Litecoin founder Charlie Lee commented on the discrepancies between the different halving countdown timers, suggesting that the NiceHash one was the most accurate. However, all of them agreed on an Aug. 2 date. This…

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Crypto payments on the horizon?

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Following the announcement of X’s (formerly Twitter) ads revenue sharing initiative, crypto exchange Kraken proposed the possibility of accepting payments in Bitcoin (BTC). The X community responded positively to the tweet, praising the suggestion as a welcome idea. VJ Crypto Guerreier said it would be incredible if X CEO Elon Musk could begin with Dogecoin (DOGE) for payments. However, ixela.lens, another user on the platform, responded, stating that for the time being, it might be more realistic to receive payments in “Web Money.“ After eager anticipation, X finally introduced its ad revenue-sharing…

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Federal Reserve Officially Launches Instant Payments System FedNow

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In an announcement Thursday morning, the Federal Reserve unveiled that its instant payment system, the FedNow® Service, has officially gone live. This tool aims to empower banks and credit unions of all sizes to facilitate instantaneous money transfers for their customers. The Federal Reserve claims that FedNow transactions can be executed 24/7, 365 days a year. To start, 35 banks and credit unions, alongside the U.S. Department of the Treasury’s Bureau of the Fiscal Service, are among those already equipped to handle payments through the FedNow Service. Furthermore, a lineup…

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JPMorgan bank deploys JPM Coin for euro-denominated payments

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The United States-based investment bank JPMorgan is expanding the implementation of one of its major blockchain projects into traditional banking. JPMorgan has deployed its blockchain-based payment system, JPM Coin, to introduce euro-denominated payments for corporate clients, Bloomberg reported on June 23. A spokesperson for JPMorgan confirmed to Cointelegraph that the bank had expanded the JPM Coin blockchain platform from U.S. dollars to euros. According to Basak Toprak, JPMorgan’s head of Coin Systems for Europe Middle East and Africa, JPM Coin went live with euro transactions on June 21. Germany’s conglomerate…

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