A new class action alleges that Plaid, which Visa recently bought for over $5 billion, had unparalleled access to the financial information of millions of users. June 25, a new class action was filed in California against fintech startup Plaid, which was acquired by Visa for $5.3 billion earlier this year. The plaintiffs allege that […]
Continue Reading
The Bank for International Settlements expects the COVID-19 crisis’ impact on retail payments to have a positive effect on central bank digital currency development. The Bank for International Settlements (BIS) expects the COVID-19 crisis’ impact on retail payments to have a knock-on effect on the development of central bank digital currencies (CBDC). The BIS is […]
Continue Reading
WhatsApp’s payment features have been suspended in Brazil less than one month after the Facebook-owned app rolled them out. Brazil’s central bank has ordered Mastercard and Visa to suspend processing money transfers on behalf of Facebook’s WhatsApp. According to official information shared with Cointelegraph Brazil, the Central Bank of Brazil (BC) took action against WhatsApp […]
Continue Reading
A German fintech company responsible for several crypto debit cards, including Crypto.com’s, allegedly misrepresented over $2 billion in cash reserves. Major fintech company WireCard, which issues Crypto.com’s debit cards, has fallen into controversy as some of its employees appear to have defrauded the company. As reported by the Financial Times on June 18, auditors from […]
Continue Reading
A federal court in Manhattan sentenced the founder of a $25 million ICO scam to 87 months and a fine of up to $250,000. Robert Farkas, the founder of a cryptocurrency firm Centra Tech that raised more than $25 million from its initial coin offering scam, pled guilty in a federal court in Manhattan on […]
Continue Reading
WhatsApp has announced instant in-app fiat payments for over 120 million users in Brazil. WhatsApp has premiered fiat electronic payments on its platform, with Brazil becoming the first country to experience a nationwide release. According to a statement released by WhatsApp earlier today, users who have Visa and Mastercard debit or credit cards from Banco […]
Continue Reading
BitPay rolls out prepaid Mastercard for U.S. crypto customers, hoping to further drive adoption and purchasing power of crypto holders. Blockchain payments provider BitPay has launched a Mastercard prepaid card for crypto users in the United States. The BitPay Card enables customers to convert their cryptocurrency into fiat, which can then be loaded onto the […]
Continue Reading
One of Centra Tech’s founders is entering into plea negotiations concerning the company’s fraudulent 2017 initial coin offering. Robert Farkas is negotiating a plea bargain for his role in the fraudulent Centra Tech initial coin offering (ICO) that commissioned celebrity endorsements from Floyd Mayweather Jr and DJ Khaled. U.S. District Judge Lorna Schofield has granted […]
Continue Reading
MoneyGram saw a significant rise in user transaction numbers for May 2020 compared to the same period last year, coinciding with a partnership with Ripple that began last June. Global money transfer platform MoneyGram recently unveiled year-over-year growth numbers, showing double the number of transactions seen in May 2019. MoneyGram ended Q1 2020 with 57% […]
Continue Reading
The U.S. footwear giant Nike entered a new affiliate partnership allowing customers to earn up to 3% from online purchases with crypto. The United States footwear giant Nike continues to explore the blockchain and cryptocurrency industry by introducing cash backs in crypto. The famous footwear and clothing company has just entered an affiliate partnership with […]
Continue Reading