On July 12, 2024, UK shoppers faced significant disruptions due to a major payments outage that affected card and online payments through Visa and Mastercard. Major retail chains such as Sainsbury’s, ASDA, and M&S were notably impacted, with many customers reporting that they were unable to complete purchases. Records from DownDetector corroborated the widespread nature of the issue, illustrating how
The rapid rise in digital transactions has birthed new technologies aimed at enhancing the efficiency of financial operations. Among these innovations, the Federal Reserve’s FedNow instant payments platform stands out, widely adopted by financial institutions (FIs), including banks and credit unions. Despite its potential for transformative change, a significant trend has emerged: many FIs prefer to use the platform in
The digital payments landscape in Latin America is undergoing a significant transformation, driven by advancements in technology and strategic partnerships that are making financial services more accessible, efficient, and secure. Two major developments exemplifying this change are the partnership between Inswitch and N1CO to deploy Visa cards and the groundbreaking impact of Brazil’s PIX system. These milestones not only illustrate
The digital finance landscape is poised for unparalleled growth as the global cryptocurrency trading volume is projected to soar to an astounding $108 trillion by the close of 2024, representing a nearly 90% increase from figures recorded in 2022. This forecast, backed by data from established cryptocurrency exchanges, underscores the burgeoning interest from institutional investors and the catalyzing effect of
During an enlightening interview with Arabian Business, Shytoshi Kusama, the enigmatic lead developer of Shiba Inu (SHIB), unveiled pivotal insights that could redefine the future of this meme-based cryptocurrency. Shiba Inu, which burst onto the scene with unprecedented growth, saw its value skyrocket by an astonishing 20,000% in just ten months during a bullish rally in 2021. Despite his soaring
The elaborate and extensive cryptocurrency scam orchestrated by the vice director of Global BBA Company, Than Van Thoai, through a deceptive platform known as CashBack Pro (CBP), marks a significant chapter in the history of financial fraud. Thoai, aged 40, along with seven accomplices, is currently under investigation by Hanoi authorities for masterminding a multi-marketing scam that amassed investments worth
The recent strategic collaboration between Datapro, a leading provider of core banking systems and digital solutions, and Mastercard aims to revolutionize cross-border payment offerings for financial institutions in Latin America and the Caribbean. This partnership addresses the increasing demand for efficient, secure, and transparent international payment solutions, promising to enhance the consumer experience and streamline financial processes. Strategic Inter-Company Collaboration
The advent of cryptocurrency and blockchain technology signifies not just a technological marvel but a transformative shift in how we perceive financial transactions and numerous other applications. From the pioneering Bitcoin to the foundational blockchain technology, this duo is reshaping industries beyond conventional finance, enabling security, efficiency, and transparency. Understanding Cryptocurrency Defining Cryptocurrency Cryptocurrency is a digital or virtual currency
Northern Data, historically prominent in Bitcoin (BTC) and Ethereum (ETH) mining, is now pivoting to high-performance computing (HPC) and artificial intelligence (AI) cloud services, marking a significant shift in strategy. Despite a notable reduction in rewards from BTC mining due to the Bitcoin halving event in April, the company remains optimistic about revenue growth and projects an impressive sales increase
The potential effects of a Federal Reserve (Fed) rate cut on Bitcoin (BTC) are garnering significant attention, especially from market analysts and investors looking to leverage such financial maneuvers. Markus Thielen, founder of 10x Research, suggests that a rate cut driven solely by inflation concerns in September 2024 could offer a short-term bullish spark for Bitcoin. Historically, lower interest rates
Over the past week, Solana (SOL) has experienced a notable decline, with its value falling below $141 to around $138. Despite a brief rally above the $141 mark, SOL continues to struggle, partly influenced by broader trends affecting major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). SOL’s market cap also faced a downturn, plummeting to approximately $63.83 billion after a
Animoca Brands Corporation Ltd, a prominent player in the Web3 space, has taken a significant strategic step by launching a validator on the Core Chain. Core Chain, a layer-one blockchain powered by Bitcoin, is compatible with the Ethereum Virtual Machine (EVM) for smart contracts, aiming to leverage Bitcoin finance (BTCFi) through collaborations and innovations. This article delves into the strategic
