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ARTICLE · 04 APRIL 2019

New Blockchain Payments Solutions Announced For Banks, Merchants And The Unbanked

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Early this week, a leading global technology firm launched a real-time global payments network for regulated financial institutions.

United StatesTechnology
Simone O. Otenaike
Simone O. Otenaike
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Early this week, a leading global technology firm launched a real-time global payments network for regulated financial institutions. The global payments network is currently in a limited production phase and available in 72 countries, with 48 currencies and 46 banking endpoints where people can send or receive cash. In conjunction with the firm's announcement, six international banks signed letters of intent to issue stablecoins (tokens backed by fiat currency) on the firm's global payments network. The network uses the Stellar public blockchain and is free to join; participants only pay according to the value they move through the network. Meanwhile the SEC's Senior Advisor for Digital Assets recently made a public statement that stablecoins might constitute securities where one central party controls the price fluctuation over time through a pricing mechanism that keeps the price within a specified range. She further explained that the determination is based on the

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