Innovation in Money and Payments: The Digital Pound Foundation’s Response to the Bank of England
The Digital Pound Foundation has responded to the Bank of England’s July 2024 discussion paper on innovation in money and payments (download here), offering insights drawn from its members’ expertise in digital money and central bank digital currency (CBDC) projects. Our response emphasises the foundational role a digital Pound could play in securing the UK’s […]
Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion, Signalling Major Step into Digital Assets
In a landmark acquisition, Stripe, the global payments processor, has acquired stablecoin platform Bridge for $1.1 billion. This acquisition, confirmed by Stripe and Bridge, marks Stripe’s largest acquisition to date and one of the most significant in the cryptocurrency sector. Bridge, founded by entrepreneurs Sean Yu and Zach Abrams, has emerged as a prominent software […]
Avalanche Expands Crypto Utility with Launch of Visa-Backed ‘Avalanche Card’
Avalanche has announced the launch of the Avalanche Card, a crypto-friendly payment solution designed to facilitate everyday spending of digital assets like WAVAX, USDC, and sAVAX. The card, powered by Rain Liquidity, allows users to make purchases anywhere Visa is accepted, with the convenience of both physical and virtual cards. Initially available to residents in […]
Paxos Launches Enterprise-Grade Stablecoin Payments Platform with Stripe Integration
Paxos, the blockchain company behind the Pax Dollar stablecoin, is making significant strides in expanding the use of stablecoins in the payments industry through its newly launched enterprise-grade infrastructure. On 15th October, Paxos revealed its new stablecoin payments platform, which is designed for payment service providers (PSPs) and fintech firms looking to integrate stablecoin payments […]
Ripple Prepares for RLUSD Stablecoin Rollout with Key Partnerships Announced at Swell 2024
Ripple has announced its exchange and market maker partners for the forthcoming launch of its dollar-pegged stablecoin, RLUSD, during the Ripple Swell 2024 conference in Miami. In addition, the firm has appointed former FDIC chair Sheila Bair and David Puth, ex-CEO of Centre, to its advisory board. Ripple’s latest venture into the stablecoin market underscores […]
Agant joins the Digital Pound Foundation to support development of a GBP stablecoin ecosystem
We are delighted to announce the addition of Agant to the Digital Pound Foundation as Associate Members. Among other planned activities, Agant intends to take an active part in the DPF’s Policy, Legal and Regulatory Working Group. Agant is building a pound sterling stablecoin (GBPA), domiciled and regulated in the UK. It aims to provide […]
Visa Partners with Spanish Banking Giant BBVA for 2025 Stablecoin Launch
BBVA, the Spanish banking giant, is preparing to enter the stablecoin market, with plans to launch its own digital asset in 2025, supported by Visa. According to Francisco Maroto, BBVA’s head of digital assets and blockchain, the bank is currently participating in a new Visa programme designed to help firms develop their own tokenised assets. […]
Ripple Mints 350,000 RLUSD Stablecoins in 24-Hour Milestone
In a landmark development, Ripple has minted a total of 350,000 RLUSD stablecoins within a 24-hour period. The minting took place in two separate transactions: 300,000 RLUSD followed by 50,000 RLUSD, as tracked and reported by the Ripple Stablecoin Tracker, an XRP Ledger (XRPL) community account dedicated to monitoring the issuance and redemption of Ripple’s […]
New UK Law Grants Legal Protection to Digital Assets such as Cryptocurrency and NFTs
In a historic move, the UK government last week introduced the Property (Digital Assets etc) Bill to Parliament, which for the first time, recognises digital holdings as personal property under British law. This milestone legislation will cover a range of digital assets, including cryptocurrency, non-fungible tokens (NFTs) such as digital art, and carbon credits. The […]
Ripple CEO Predicts Growing Demand for Japanese Yen Stablecoins
Brad Garlinghouse, CEO of Ripple, has expressed optimism about the future demand for stablecoins tied to the Japanese yen, predicting that it is only a matter of time before such digital currencies gain traction in Japan. “People will want to hold yen stablecoins, and I think that is only a matter of time,” Garlinghouse stated […]
