Tagged: facebook

Facebook Owned WhatsApp Finally Approved to Fully Launch Digital Payments Services in India

Facebook (NASDAQ:FB) owned WhatsApp has reportedly received approval to introduce its digital payments services in India. The National Payments Corporation of India (NPCI), which is an umbrella organization for operating or managing retail payments and settlement systems in the country, has given WhatsApp the green… Read More

Indian Fintech 5paisa to Allow Locals to Invest in US Stocks like Amazon, Apple, Facebook, Netflix, Tesla

India’s 5paisa, a publicly-listed Fintech company, has introduced the option to acquire international stocks. Prakarsh Gagdani, CEO at 5paisa, confirms that the new service allows its customers to invest in shares listed on Indian stock exchanges and it also allows them to acquire US stocks…. Read More

Amazon Stock Outperformed Bitcoin (BTC) so far in 2020, but Ethereum (ETH) is the Biggest Gainer, Binance Reveals

Leading cryptocurrency exchange Binance reveals that if you had invested $1,000 on Jan 1,  2020, in both Amazon (NASDAQ:AMZN) stock and Bitcoin (BTC), you would have earned significantly more from your Amazon holdings, when compared to the price appreciation of the leading digital currency. However,… Read More

Facebook Forms Financial Group, led by David Marcus, to Handle Digital Commerce and Payments Projects like Libra and Novi

Facebook Inc. (NASDAQ:FB), which currently has a market cap of around $750 billion, employs over 52,000 workers, and generated over $70 billion in revenue last year, has introduced a new group to focus on payments and digital commerce opportunities. David Marcus, the co-creator of the… Read More

WhatsApp Payments have been Suspended by Brazil’s Reserve Bank to “Preserve Adequate Competitive Environment”

Brazil’s reserve bank has reportedly instructed Mastercard and Visa to suspend processing transactions on behalf of WhatsApp. As reported on June 15, 2020, the Facebook-owned WhatsApp messaging platform began facilitating payments in Brazil. However, the Central Bank of Brazil (BC) has now taken action against… Read More

Fintech Projects like Facebook-led Libra Stablecoin Initiative, Digital Yuan, COVID-19 are Transforming Money to an Extent “Never Before Seen”: Report

Technological advancements, money and payment systems have been closely linked from the earliest days of society and human civilization. However, technology is now transforming money and global payment platforms “to an extent and speed never before seen,” according to recent paper titled, “After Libra, Digital… Read More

WhatsApp Now Facilitating Payments in Brazil

Facebook’s WhatsApp messaging platform is now facilitating payments in Brazil, according to a post by Facebook founder Mark Zuckerberg. WhatsApp was acquired by Facebook (NASDAQ:FB) in 2014 for approximately $19.3 billion. WhatsApp is the world’s most popular messaging application with over 2 billion users worldwide…. Read More

WhatsApp Payments Might Become India’s Leading Digital Banking Service, As Online Transactions Surge Due to COVID-19

WhatsApp Payments, an in-chat payment feature that lets customers perform transfers through the messaging app to anyone in their contact list, may finally be on track to achieve mass adoption in India. WhatsApp is owned by Facebook, (NASDAQ:FB) who bought the social media platform in… Read More

Facebook’s Libra Stablecoin Project, Ethereum (ETH), Near, Bitcoin Cash are Currently Most Active Development Projects: Report

  The controversial Facebook-led Libra project is reportedly the most active project in terms of developer activity, according to CoinCodeCap data. There are 41 active developers working on Libra, meanwhile, Ethereum (ETH), the world’s largest smart contract platform, has 36 active developers, the data site… Read More

Facebook’s Libra Serves as Signal that Fintech Firms like Visa, Paypal, Booking.com Were Eager to Explore Stablecoins, Blockchain Advisor Argues

Stablecoins are digital assets pegged 1-to-1 (in most cases) to major world currencies like the  US dollar or British pound (GBP), or even gold.  In most cases, stablecoin tokens are based on blockchain or some type of distributed ledger technology (DLT). The largest amount or… Read More

Lex Sokolin: Global Fintech Co-Head and CMO at ConsenSys Predicts Greater Convergence Between Fintechs and Incumbents in Coming Years

We recently talked to Lex Sokolin, the Global Fintech Co-Head and CMO at ConsenSys, a leading Ethereum (ETH) development studio based in New York. Before joining ConsenSys, Sokolin was the Global Director of Fintech Strategy at Autonomous Research, a firm that was eventually acquired by… Read More

Libra Association Hires Former FinCEN Director Robert Werner as General Counsel

The Libra Association, based in Switzerland, continues to build out its executive bench. Today, Libra has announced the selection of Robert Werner as its General Counsel. Created by Facebook (NASDAQ:FB), Libra is envisioned as a digital currency operated on a distributed ledger platform. According to… Read More

Temasek, Paradigm and Slow Ventures Join the Libra Association

The Libra Association has added three new members: Temasek, Paradigm, and Slow Ventures. Launched by Facebook, the Libra Association is a Switzerland-based independent entity seeking to launch a blockchain-based payment system. Recently, Libra tweaked its white-paper backing away from its original intent to launch a… Read More

Nonprofit Organization Heifer International Joins Libra Association, Says Project Could Help Low-Income Farmers

Heifer International, a nonprofit entity that aims to address issues related to global hunger and poverty, is the most recent organization to join the Facebook-led Libra Association. Heifer claims that the Libra stablecoin and payment system (under development) could help low-income farmers gain access to… Read More

Due to the Global Relevance, FINMA Posts Statement on Libra’s Application for a Payment System License

The Swiss Financial Market Supervisory Authority (FINMA) has distributed a statement on Libra’s application for a “payment system license.” Initiated by Facebook, Libra is a digital currency attempting to facilitate payments globally outside of the traditional payments rails. The Libra Association is headquartered in Geneva,… Read More

Switzerland: Libra Association Seeks Payment Service License from FINMA

The Libra Association, Facebook’s push to create a global non-sovereign digital currency, is applying for a Payment System License from the Financial Markets Supervisory Authority (FINMA) in Switzerland. In addition to applying for the FINMA license and updating the white paper, the Libra Foundation reports… Read More

Facebook Appears to be Stepping Away from Libra as it Now Plans to Issue Several Separate Virtual Tokens

Menlo Park, California-based social media giant Facebook (NASDAQ:FB) appears to be stepping away from the controversial Libra cryptocurrency project that it introduced in June 2019. Facebook’s management says it will be creating several separate or independent virtual tokens, with each pegged or backed by different national… Read More

Traditional Banks Might Lose their Leading Position in Developing National ID Solutions to Big Tech Firms Like Google, Apple, Amazon: Report

Traditional banks may be at risk of losing their leading position when it comes to developing national digital identity solutions. Big tech firms and various other multinational networked companies might be able to offer better digital identity schemes and take the lead, industry association Mobey… Read More

Bucking the Tide: Shopify Joins Libra Consortium

In a release today, Shopify announced that it had joined the Libra Association, the entity in charge of launching Facebook’s proposed non-sovereign digital currency. Shopify appears to have ignored the trend where multiple members have exited the consortium as it has become more apparent that… Read More

Mastercard CEO Ajay Banga Explains Why Company Withdrew from Facebook-led Stablecoin and Payments Project Libra

Ajay Banga, CEO at payments giant Mastercard, recently talked about why his company decided to leave the controversial Facebook-led Libra global payments and stablecoin project. Banga claims his firm doesn’t quite understand Libra’s business model. He told the Financial Times: “When you don’t understand how… Read More

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