Decentralized Payment Firm Radpay Raises $1.2M in Seed Round

Decentralized payment processing company Radpay has secured $1.2 million in a seed round, with the participation of investment firms Resiliency Ventures and BlackLaunch.

Per a press release published on Nov. 18, Radpay completed a $1.2 million series seed round that reflects a 20% oversubscription. The company saw financial support from a number of Silicon Valley investors, Phoenix-based investment firms Resiliency Ventures and BlackLaunch, and investors from Nebr

Visa Works on Blockchain System for Joint Computation of Large-Scale Private Data

International payment network Visa is working on a blockchain-based system for joint policy-compliant computation of large-scale private data.

Visa Research — the research and development arm of Visa that focuses on data analytics, security and payment innovation — released a paper describing a blockchain-powered system for policy-compliant computing. The system is dubbed LucidiTEE, where TEE stands for trusted execution environments.

Malaysia to Impose Cash Transaction Limit of $6K in 2020: Report

Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting for humanitarian aid purposes.

The average Malaysian household spends $1,900 per month

Abdul Rasheed, the deputy governor in question who works for Bank Negara Malaysia (BNM), claimed that the measures will apply to all transactions involving physical cash, including payments for goods and services, <a href="https://www.thestar.com.my/business/business-news/2019/11/07/malaysia-to-impose-cash-transaction-limit-of-rm25000-next-year&quot; rel

Japanese instant-credit provider Paidy raises $143 million from investors including PayPal Ventures

Paidy, a Japanese financial tech startup that provides instant credit to consumers in Japan, announced today that it has raised a total of $143 million in new financing. This includes a $83 million Series C extension from investors including PayPal Ventures and debt financing of $60 million. The funding will be used to advance Paidy’s goals of signing large-scale merchants, offering new financial services and growing its user base to 11 million accounts by the end of 2020.

In addition to PayPal Ventures, investors in the Series C extension also include Soros Capital Management, JS Capital Management and Tybourne Capital M

Stablecoin Adoption: DAI in a Visa Card, Tether Sees Use in E-Commerce

Ethereum-based decentralized stablecoin DAI is now spendable where VISA cards are accepted and leading stablecoin Tether (USDT) is seeing increasing use by e-commerce organizations.

DAI now usable in E.U. stores

According to a press release shared with Cointelegraph Oct. 29, collaborative financial platform 2Gether added DAI support to its platform. A spokesperson claimed that this is the first stablecoin added to the platform.

As a result of the addition, 2Gether users can now spend their DAI like euros, without

$18 B Data Firm Using xDai Chain Sidechain for Payments at Conference

Publicly traded software firm Splunk is using Ethereum sidechain xDai Chain to power the payments at its Las Vegas SplunkConf 2019.

Payments at the conference

Per a report shared with Cointelegraph on Oct. 24, conference participants have the opportunity to use a dedicated, modified version of xDai’s Burnerwallet dubbed PonyPurse. Splunk’s Head of Blockchain and DLT Nate McKervey explained in a tweet sent on Oct. 21 that over 10,000 event attendees were able to spend Buttercup Bucks (BCB):

“BCB is a digital currency running on the #Ethereum based @xdaichain. >10,000 attendees can earn and spen

Blockstack’s STX Token Now Traded on Binance and HashKey Pro

Blockstack’s Stacks (STX) token can now be traded on the Binance and HashKey Pro exchanges, the company said Wednesday.

The advance is set to expand investors’ access to STX – especially in Asia, where HashKey Pro is based and Binance is well-known. Muneeb Ali, Blockstack’s CEO, called Asia a “priority region” in a company statement.

Ali told CoinDesk:

“It’s very important that we have a global network of users and investors.”

STX is used to register digital assets on the Blockstack blockchain. They are consumed when users register or utilize the something on Blockstack, much like ETH is spent when operating on the ethereum network.

The company raised $23 million in anticipation of the listing, $7.6 million of which came from Asian investors and the rest from Blo

TBCASoft, IBM and SoftBank Announced a Mobile Payment Blockchain

Blockchain platform TBCASoft, technology behemoth IBM and telecommunications conglomerate SoftBank announced on Oct. 22 a collaboration to adopt a cross-carrier telecommunications blockchain payment solution.

New cross-carrier system

Per the release, the partnership aims to allow carriers to use blockchain through the Carrier Blockchain Study Group (CBSG) Consortium — founded by TBCASoft and SoftBank. TBCASoft reportedly already created a cross-carrier blockchain with 18 participants. 

The first application that CBSG intends to launch is the Cross-Carrier Payment System (CCPS), whic

Alfa-Bank, Commerzbank Pilot Cross-Border Payments on R3’s Marco Polo

Alfa-Bank and Novolipetsk Steel Company (NLMK), in cooperation with Commerzbank and Vesuvius GmbH, are piloting Russia-Germany cross-border payments on R3’s Marco Polo network.

Powered by R3’s Marco Polo Blockchain Global Trade Network

On Oct. 11, Alfa-Bank announced that it is launching a foreign trade finance pilot transaction, with the cooperation of NLMK, Commerzbank and Vesuvius GmbH using R3’s Corda-powered Marco Polo Network. In the announcement, Alfa-Bank described itself as Russia’s largest financial inst

Why each Libra member’s mutiny hurts Facebook

There’s a strategic cost to the defection of Visa, Stripe, eBay, and more from the Facebook-led cryptocurrency Libra Association. They’re not just names dropping off a list. Each potentially made Libra more useful, ubiquitous, or reputable. Now they could become obstacles to the token’s launch or growth.

Fearing regulators’ inquiries not just into their Libra involvement but the rest of their businesses, these companies are pulling out at least for now. None had made precise commitments to integrating Libra into their products, and they’ve said they could still get involved later. But their exit clouds the project’s future and leaves <a class="crunchbase-link" href="https://crunchbase.com/organization/facebook&quot; target="_blank" data-type="organization" data-entity="facebook" rel="n

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