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Blockchain’s Inroads Through National Frameworks And Trade Finance

PYMNTS

Blockchain is increasingly being separated from cryptocurrency, with an eye toward disparate use cases — some done at the national level. As reported this past week in the Cleveland Scene , one of Cleveland’s largest blockchain firms, Votem , shuttered doors abruptly amid a lack of funding.

National 161
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Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Notably, China’s central bank is already developing and testing a national digital currency in the Asian nation.

Cleveland 330
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FedNow is necessary, Fed digital currency is not: Mester

Payments Source

The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries.

Cleveland 106
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Rocket Mortgage Parent Plans $3.3B IPO

PYMNTS

Gilbert, who also owns the National Basketball Association (NBA) team the Cleveland Cavaliers , controls 79 percent of the voting power for the company’s common stock. The IPO was announced in June, PYMNTS reported , and Gilbert will remain in control after the filing. His net worth is sitting at $7.8

Cleveland 140
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Fed Slashes Interest Rates To Near Zero

PYMNTS

As a way to maintain normalcy within the financial markets, the Fed made a deal with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank to drop their rates on currency swaps, CNBC reported. The only lone dissenter in lowering the rate was Cleveland Fed President Loretta Mester.

Cleveland 143
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Coronavirus Prompts Federal Reserve To Slash Rate To Zero

PYMNTS

As a way to maintain normalcy within the financial markets, the Fed made a deal with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank to drop their rates on currency swaps, CNBC reported. The only lone dissenter in lowering the rate was Cleveland Fed President Loretta Mester.

Cleveland 140
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Google Pay Now Supports Cards From 13 More US States

PYMNTS

In the Midwest, the new banks reportedly include the Educational Community Alliance Credit Union in Ohio, the MidAmerica National Bank in Illinois, the Republic Bank of Chicago in Illinois and the State Bank of Waterloo in Illinois. The report also noted that it seems U.S. In December, Google Pay added about 30 new U.S.

Google 109