According to PayPal, its system could use any currency. The company has already added numerous blockchain-related features to its platform, including the MetaMask Wallet, PayPal USD, and Ethereum.
Despite entering the list of approved digital assets, PayPal’s PYUSD stablecoin may not experience the instantaneous adoption initially anticipated following the launch.
The new MoneyGram non-custodial wallet will provide a more flexible way for users to handle funds and make transactions cheaper.
Individuals with compatible external wallets, as well as merchants who embrace PYUSD for payments, will be able to receive transfers from Venmo users.
Despite the slow uptake, the transparency report suggests that PYUSD is effectively backed up by reverse repurchase agreements.
Swan plans to allocate the newly acquired funds to expand its operations in the Netherlands in the immediate future. Lakestar said that they are quite satisfied with Swan’s progress over the last year.
Klaytn is expanding its offerings to focus on the tokenization of real-world assets like jewelry and real estate on its blockchain.
PayPal says that by launching the new service to USD on ramp, it hopes to simplify customer interactions with cryptocurrencies.
With £3 billion in deposits, over £2 billion in loans on its balance sheet, and more than 400,000 credit cards issued since its launch in 2020, Zopa has rapidly established itself as a prominent player in the UK banking landscape.
ZAN is powered by technical innovations from AntChain Open Labs.
The word “fintech” is derived from “financial technology” which means the integration of technological tools and innovations into financial operations in order to enhance and automate the financial processes. Fintech is used to assist financial institutions, businesses in the management of their operations to provide better services to their customers. As the industry of fintech is actively evolving, there is no surprise at all that the news from this sphere can attract wide attention.
Adoption of fintech by a company would mean a significant change to their mode of operations as it involves the use of specialized algorithmic models, mobile applications and dedicated computer software packages.
At its initial introduction stage, companies from a range of industries including banking, education, fundraising, health, venture management, etc. only used fintech for back end systems where they get absolute and full control. Nowadays, most industries have started using the innovation for consumer-oriented services in an attempt to serve their clients better while increasing the transparency in their operations.
As we move towards a significantly digitized world, from the introduction of the internet to social media, smartphone evolution and now blockchain technology, the need for adoption of cryptocurrency cannot be overemphasized. As the underlying framework of pioneer cryptocurrency bitcoin, the blockchain is a vital part of fintech. We’ve seen a number of blockchain-powered fintech apps being employed by banking industries and data inclined platforms.
Fintech has become a major part of the finance space in recent years, this points to the fact that major conglomerates have identified and prioritized its importance in growing their businesses. Fintech works closely with other new technologies such as data-driven analytics and marketing, machine learning, artificial intelligence, etc.
Coinspeaker presents the best and latest Fintech news, ranging from its use in cross border payments, startup business fundraisers, venture management, credit application, to remote banking, as investors and stakeholders’ awareness about the innovation continues to rise daily.