Stablecoin

Noelle Acheson pulls the bill that would ban the Federal Reserve from issuing a central bank digital currency into the spotlight and argues that it's overreaching, unnecessary and distracts attention from more pressing privacy issues.

Bank groups, especially those representing the largest institutions, did little in the way of a public campaign against the provisions in the stablecoin bill that could disintermediate traditional banking, but are picking up steam for the upcoming market structure fight.

Businesses accepting payments in stablecoins on a public blockchain are making vast amounts of data available to their competitors. For the technology to really take off, a privacy-preserving solution is needed.

The stablecoin issuer said revenue and reserve income increased due to more stablecoins in circulation after its IPO and the passing of the GENIUS Act.

The plea marks the beginning of the end of the case over the $50 billion collapse in May 2022 of stablecoin TerraUSD.

The payment company increased its financial outlook, partly on the shoulders of new forms of artificial intelligence, such as "codename goose" that are making it possible to update products faster.

The card brand's Pismo platform will support banking services for the Auckland-based fintech Dosh; Tether collaborates with a blockchain firm to expand USDT. That and more in American Banker's global payments and fintech roundup.

As stablecoins and related products gain traction in the U.S., bankers are going to have to face the fact that their current anti-money-laundering controls simply aren't up to the task anymore.

Unlike rival Fiserv, the bank technology company does not plan to issue its own coin immediately, but it does feel the lure of the broader digital asset market.

Noelle Acheson outlines the key blockchain innovations for payment programmability, and highlights their advantages and their risks.