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Fed Exploring ‘Hypothetical’ Digital Currency

PYMNTS

In a speech delivered by webcast at the Federal Reserve Board and Federal Reserve Bank of San Francisco’s Innovation Office Hours, Fed Governor Lael Brainard said that the Federal Reserve Bank of Boston is working with researchers at MIT to “build and test a hypothetical digital currency oriented to central bank uses.”.

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Facebook And Google Payments Efforts Top Week’s News

PYMNTS

Users of Facebook Pay , which the company said is not related to its proposed cryptocurrency Libra, will be able to enter a preferred payment method and then use the option to eventually pay throughout all of the related apps. Goldman Denies Discriminatory Apple Card Practices, Says It Will Reassess Limits. Deutsche Bank told U.K.

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Central Banks See Digital Fiat As Complement To Cash, Not Replacement

PYMNTS

It might also offer opportunities not possible with cash while supporting innovation.”. The BIS noted of central bank digital currency ( CBDC ) that “a CBDC could provide a complementary central bank money to the public, supporting a more resilient and diverse domestic payment system.

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The PYMNTS 2018 Summer Top 10 List

PYMNTS

Almost 33 years ago, David Letterman introduced his singular innovation in stand-up comedy: the Top 10 List. Cryptocurrencies suffered through a rough day in mid-June, when prices plummeted fast during a few hours and wiped out a total of $15 billion in value. Crytpo’s Big Flash Crash. percent on the day. million users, up from 9.2

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Fintech Fundings: 28 Companies Raise $220 Million Week Ending March 25

Fintech Labs Insights

In total, there were 13 fintech startups (or 15 by the Bank Innovations definition ), 12% of the total YC W16 class of 109. HQ: Boston, Massachusetts. Debit card with company-driven expense rules. Nigerian online credit card processor. Source: Crunchbase. Maxwell Health. Payroll & beneifts platform. CrowdStreet.

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55 US Companies That Became Unicorns In 2018

CB Insights

New York, Boston, Chicago, and Nashville, among other cities, all played host to newly minted unicorns last year. Company Description: Circle Internet Financial is a Boston-based cryptocurrency company offering a crypto exchange platform, money transfers, and investment services. Circle Internet Financial. Valuation: $3B.