Search results for Meld
Crypto
Money flows into \'digital dollar\' stablecoins, shaking banks and national monetary systems
Stablecoins are spreading as a near real-time, 24-hour tool for moving money, raising concerns they could accelerate outflows from bank deposits and national currencies during financial stress or sharp currency declines. The European Central Bank has flagged potential liquidity mismatches between round-the-clock redemptions and reserve assets that move on traditional settlement schedules. The BIS also found stablecoin flows tend to rise alongside foreign-currency deposits in crisis situations.
Crypto
Swift, Stripe step up offensive push for next-generation blockchain payment infrastructure
Swift and Stripe are escalating moves around tokenised payment infrastructure, sharpening competition among major players. Swift said it will expand its blockchain payment network after completing a pilot with 17 global banks and is working with more than 40 financial institutions. Stripe made an offer to acquire PayPal for $53 billion. Executives said the competitive focus is shifting from validating blockchain technology to controlling distribution.
Crypto
Meld raises $7 million to build Visa-like crypto network
Stablecoin services startup Meld is seeking to build a global digital asset network aimed at solving difficulties companies face when processing payroll or payments in stablecoins across multiple countries due to differing service providers. Fortune reported the company is positioning itself as a one-stop network for buying and settling stablecoins, bitcoin and ether worldwide. Meld says it works with more than 50 partners and has raised $7 million in a Lightspeed Faction-led round.