The convenience, security and speed of digital innovation have reshaped the way businesses and individuals transact.
\nNow, money and assets are undergoing their own fundamental transformation.
\nIt\u2019s all happening by way of tokenization on the blockchain. On-chain tokenization is moving from concept to practice, with players like Visa, Mastercard, J.P. Morgan and other commercial banks exploring or piloting real-world tokenized payment and financial systems.
\nFor chief financial officers and corporate treasurers, tokenization isn\u2019t just a tech issue; it could represent a capital strategy shift.
\nAs recently as Friday (April 18), Vera Capital announced a partnership with Blocksquare to tokenize \u201ca substantial portfolio of commercial and multifamily real estate assets\u201d across the United States, having already tokenized a $5.4 million commercial property in Fort Lauderdale.
\nBlackRock CEO Larry Fink also wants all assets to be tokenized on a blockchain and tradable online, writing in his shareholder letter: \u201cEvery stock, every bond, every fund \u2014 every asset \u2014 can be tokenized.\u201d
\nAt its most fundamental level, tokenization refers to representing real-world assets, such as fiat currency, deposits, securities and investment contracts, as digital tokens on a distributed ledger. These tokens can then be transferred, programmed or settled in ways traditional systems don\u2019t allow.
\nTokenization isn\u2019t a cryptocurrency play. Tokenization helps give businesses and financial services stakeholders a way to move value faster, cheaper and more securely across different networks. It\u2019s about modernizing the movement of money and assets while democratizing investment access to institutional-grade products.
\nSee also: Stablecoin Sandwiches? Here\u2019s What CFOs Need to Know About Crypto Jargon
\nUnlike traditional digital assets, which are typically ledger entries in a private system (like a bank or card network), on-chain tokens are blockchain-native. They can be programmed, split, audited or transferred with a few lines of code, and often faster than traditional methods allow.
\nThese tokenized real-world assets (RWAs) can be anything: fiat currency (like dollars or euros), real estate, equities, loyalty points or invoices.
\nPayments giants aren\u2019t waiting on regulators to get started prototyping. Last year, Visa tested the settlement of stablecoins. J.P. Morgan\u2019s JPM Coin is now facilitating billions of dollars in daily transactions, primarily for institutional clients.
\n\u201cBanks are in the state where they are thinking about blockchains as public infrastructure that they need to rely on,\u201d Chainalysis co-founder and CEO Jonathan Levin told PYMNTS this month.
\n\u201cWhen we started the business in 2014 \u2026 cryptocurrency only meant blockchains that had native cryptocurrency tokens,\u201d he said. \u201cToday, people are putting all types of financial instruments on the blockchain.\u201d
\nAs appetite grows from corporate treasurers for 24/7 programmable money, tokenization could provide tangible benefits to companies managing global supply chains, complex vendor networks or digital platforms. While tokenized payments are not a panacea, they can help to solve specific, persistent pain points in the global movement of money.
\nRead also: 3 Things Payment Stakeholders Can All Agree on About Stablecoins
\nCross-border payments, treasury management and programmable contracts are among the emerging real-world use cases for on-chain RWA.
\nTraditional correspondent banking networks are fragmented and slow. Tokenized fiat or deposits on a shared ledger allow for near-instant cross-border transfers, potentially collapsing multiday settlement windows into minutes or seconds. This is among the main benefits of stablecoins, an increasingly popular payment mechanism that involves the tokenization of fiat and other reserve backings.
\nAt the same time, multinational corporations can struggle with liquidity fragmentation across jurisdictions. Tokenized deposits can be moved 24/7 across entities or regions, enabling just-in-time funding and optimizing working capital.
\nBlockchain-based smart contracts can also allow conditional or milestone-based payments to execute automatically, which could prove useful for trade finance, supply chains or royalty payments. Ultimately, tokenization\u2019s benefits such as real-time liquidity, conditional payments and borderless value exchange can create competitive advantages.
\nTwo primary roadblocks to scalable utility across the enterprise are regulatory fragmentation and digital identity.
\nRegulatory alignment remains patchy, especially across borders. Cybersecurity and smart contract auditing are still evolving. And adoption depends not just on technology, but on user trust and industry coordination.
\nSensitive financial data and transactions may be increasingly exposed to public scrutiny on-chain, so there\u2019s a pressing need to address privacy and identity challenges within crypto.
\nHowever, the marketplace isn\u2019t standing still, and work is being done to overcome these challenges. For forward-thinking finance leaders, it could be worth entertaining that the next decade of payments may be built not just with APIs and rails, but with tokens, smart contracts and interoperable ledgers.
\nFor all PYMNTS digital transformation and B2B coverage, subscribe to the daily Digital Transformation and B2B Newsletters.
\nThe post The Digital Asset Primer: On-Chain Tokenization for Payments Professionals appeared first on PYMNTS.com.
\n", "content_text": "The convenience, security and speed of digital innovation have reshaped the way businesses and individuals transact.\nNow, money and assets are undergoing their own fundamental transformation.\nIt\u2019s all happening by way of tokenization on the blockchain. On-chain tokenization is moving from concept to practice, with players like Visa, Mastercard, J.P. Morgan and other commercial banks exploring or piloting real-world tokenized payment and financial systems.\nFor chief financial officers and corporate treasurers, tokenization isn\u2019t just a tech issue; it could represent a capital strategy shift.\nAs recently as Friday (April 18), Vera Capital announced a partnership with Blocksquare to tokenize \u201ca substantial portfolio of commercial and multifamily real estate assets\u201d across the United States, having already tokenized a $5.4 million commercial property in Fort Lauderdale.\nBlackRock CEO Larry Fink also wants all assets to be tokenized on a blockchain and tradable online, writing in his shareholder letter: \u201cEvery stock, every bond, every fund \u2014 every asset \u2014 can be tokenized.\u201d\nAt its most fundamental level, tokenization refers to representing real-world assets, such as fiat currency, deposits, securities and investment contracts, as digital tokens on a distributed ledger. These tokens can then be transferred, programmed or settled in ways traditional systems don\u2019t allow.\nTokenization isn\u2019t a cryptocurrency play. Tokenization helps give businesses and financial services stakeholders a way to move value faster, cheaper and more securely across different networks. It\u2019s about modernizing the movement of money and assets while democratizing investment access to institutional-grade products.\nSee also: Stablecoin Sandwiches? Here\u2019s What CFOs Need to Know About Crypto Jargon\nWhat Is on-Chain Tokenization?\nUnlike traditional digital assets, which are typically ledger entries in a private system (like a bank or card network), on-chain tokens are blockchain-native. They can be programmed, split, audited or transferred with a few lines of code, and often faster than traditional methods allow.\nThese tokenized real-world assets (RWAs) can be anything: fiat currency (like dollars or euros), real estate, equities, loyalty points or invoices.\nPayments giants aren\u2019t waiting on regulators to get started prototyping. Last year, Visa tested the settlement of stablecoins. J.P. Morgan\u2019s JPM Coin is now facilitating billions of dollars in daily transactions, primarily for institutional clients.\n\u201cBanks are in the state where they are thinking about blockchains as public infrastructure that they need to rely on,\u201d Chainalysis co-founder and CEO Jonathan Levin told PYMNTS this month.\n\u201cWhen we started the business in 2014 \u2026 cryptocurrency only meant blockchains that had native cryptocurrency tokens,\u201d he said. \u201cToday, people are putting all types of financial instruments on the blockchain.\u201d\nAs appetite grows from corporate treasurers for 24/7 programmable money, tokenization could provide tangible benefits to companies managing global supply chains, complex vendor networks or digital platforms. While tokenized payments are not a panacea, they can help to solve specific, persistent pain points in the global movement of money.\nRead also: 3 Things Payment Stakeholders Can All Agree on About Stablecoins\nThe Relevance for Payment Leaders\nCross-border payments, treasury management and programmable contracts are among the emerging real-world use cases for on-chain RWA.\nTraditional correspondent banking networks are fragmented and slow. Tokenized fiat or deposits on a shared ledger allow for near-instant cross-border transfers, potentially collapsing multiday settlement windows into minutes or seconds. This is among the main benefits of stablecoins, an increasingly popular payment mechanism that involves the tokenization of fiat and other reserve backings.\nAt the same time, multinational corporations can struggle with liquidity fragmentation across jurisdictions. Tokenized deposits can be moved 24/7 across entities or regions, enabling just-in-time funding and optimizing working capital.\nBlockchain-based smart contracts can also allow conditional or milestone-based payments to execute automatically, which could prove useful for trade finance, supply chains or royalty payments. Ultimately, tokenization\u2019s benefits such as real-time liquidity, conditional payments and borderless value exchange can create competitive advantages.\nTwo primary roadblocks to scalable utility across the enterprise are regulatory fragmentation and digital identity.\nRegulatory alignment remains patchy, especially across borders. Cybersecurity and smart contract auditing are still evolving. And adoption depends not just on technology, but on user trust and industry coordination.\nSensitive financial data and transactions may be increasingly exposed to public scrutiny on-chain, so there\u2019s a pressing need to address privacy and identity challenges within crypto.\nHowever, the marketplace isn\u2019t standing still, and work is being done to overcome these challenges. For forward-thinking finance leaders, it could be worth entertaining that the next decade of payments may be built not just with APIs and rails, but with tokens, smart contracts and interoperable ledgers.\nFor all PYMNTS digital transformation and B2B coverage, subscribe to the daily Digital Transformation and B2B Newsletters.\nThe post The Digital Asset Primer: On-Chain Tokenization for Payments Professionals appeared first on PYMNTS.com.", "date_published": "2025-04-21T11:22:04-04:00", "date_modified": "2025-04-21T21:41:02-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/dgiital-asset-blockchain.jpg", "tags": [ "Blockchain", "Blocksquare", "cross-border payments", "Cybersecurity", "digital transformation", "Featured News", "fraud", "Global Payments", "identity verification", "News", "partnerships", "PYMNTS News", "real estate", "Security", "Technology", "tokenization", "treasury", "Vera Capital" ] }, { "id": "https://www.pymnts.com/?p=2683773", "url": "https://www.pymnts.com/blockchain/2025/jpmorgan-chases-kinexys-broadens-fx-reach-with-new-gbp-blockchain-rollout/", "title": "JPMorgan Chase\u2019s Kinexys Broadens FX Reach With New GBP Blockchain Rollout", "content_html": "In a move signaling intensified competition in the cross-border payments space, J.P. Morgan Chase has introduced GBP-denominated Blockchain Deposit Accounts for its Kinexys Digital Payments (KDP) platform in London. The bank said it\u2019s one of the first products of its kind in the U.K. with live corporate clients.
\nTrading market infrastructure company LSEG is among the first to open an account. Its SwapAgent division and global commodities firm Trafigura will are the first to open London-based blockchain accounts, which aim to streamline 24/7 real-time payments and foreign exchange (FX) settlements across global financial centers. This roll-out expands upon earlier Kinexys launches \u2014 most notably, the EUR-denominated blockchain accounts in Frankfurt \u2014 and underscores the firm\u2019s push to increase operational efficiency and reduce transaction friction for multinational corporations.
\nKey Points From the Announcement:
\nSwapAgent, an LSEG Post Trade Solutions business, plans to leverage these new accounts for its digital post-trade services pilot project, with a view to broadening its blockchain adoption. \u201cIntegrating the innovative Kinexys Digital Payments blockchain deposit accounts into our SwapAgent offerings could allow us to operate beyond traditional branch cut-off times and manage settlements in a programmable manner in the future,\u201d said Nathan Ondyak, CEO at SwapAgent.
\nMeanwhile, Trafigura, one of the world\u2019s largest commodities suppliers, plans to harness the London-based accounts to support 24/7 global payments across financial hubs in New York, London and Singapore. Chris McLaughlin, Global Head of Group Treasury at Trafigura, said the collaboration \u201cwill enable us with 24/7 near-real-time payments across major global financial centers\u201d and offer greater efficiency for real-time cross-border transactions.
\nAccording to J.P. Morgan, since its inception in 2019, the Kinexys platform has processed over $1.5 trillion in transaction volume, with average daily transactions exceeding $2 billion and registering 10x year-over-year growth in payments. In addition to deposit accounts, KDP provides a Programmable Payments feature with an \u201cif-this-then-that\u201d interface, allowing corporate clients to automate treasury workflows and enhance liquidity management.
\nIn November, J.P. Morgan\u00a0announced a significant enhancement\u00a0to its blockchain platform, recently rebranded from Onyx to Kinexys. The bank will integrate Kinexys Digital Payments with J.P. Morgan FX Services, enabling on-chain FX settlement. This move positions Kinexys as a key player in the landscape of digital cross-border payments and foreign exchange.
\nInitially supporting USD and EUR, with plans to expand to other currencies, this integration allowed clients to execute near real-time FX transactions and settlements via the J.P. Morgan global FX platform. This is expected to significantly reduce FX settlement risk and accelerate trade settlements, potentially revolutionizing how businesses manage international payments.
\n\u201cTogether with our clients, we aim to move beyond the limitations of legacy technology and realize the promise of a multichain world,\u201d said Umar Farooq, co-head of J.P. Morgan Payments said at the time. \u201cOur goal is to foster a more connected ecosystem to break down disparate systems, enable greater interoperability and reduce the limitations of today\u2019s financial infrastructure.\u201d
\nThe post JPMorgan Chase\u2019s Kinexys Broadens FX Reach With New GBP Blockchain Rollout appeared first on PYMNTS.com.
\n", "content_text": "In a move signaling intensified competition in the cross-border payments space, J.P. Morgan Chase has introduced GBP-denominated Blockchain Deposit Accounts for its Kinexys Digital Payments (KDP) platform in London. The bank said it\u2019s one of the first products of its kind in the U.K. with live corporate clients.\nTrading market infrastructure company LSEG is among the first to open an account. Its SwapAgent division and global commodities firm Trafigura will are the first to open London-based blockchain accounts, which aim to streamline 24/7 real-time payments and foreign exchange (FX) settlements across global financial centers. This roll-out expands upon earlier Kinexys launches \u2014 most notably, the EUR-denominated blockchain accounts in Frankfurt \u2014 and underscores the firm\u2019s push to increase operational efficiency and reduce transaction friction for multinational corporations.\nKey Points From the Announcement:\n\n24/7 Cross-Border Transactions: Clients can now seamlessly transact among USD, EUR and GBP anytime, including on weekends and beyond traditional branch cut-off times.\nEnhanced FX Capabilities: By integrating same-day and near-real-time settlements into its blockchain framework, J.P. Morgan Chase provides improved flexibility and speed for corporate treasury operations.\n\nSwapAgent, an LSEG Post Trade Solutions business, plans to leverage these new accounts for its digital post-trade services pilot project, with a view to broadening its blockchain adoption. \u201cIntegrating the innovative Kinexys Digital Payments blockchain deposit accounts into our SwapAgent offerings could allow us to operate beyond traditional branch cut-off times and manage settlements in a programmable manner in the future,\u201d said Nathan Ondyak, CEO at SwapAgent.\nMeanwhile, Trafigura, one of the world\u2019s largest commodities suppliers, plans to harness the London-based accounts to support 24/7 global payments across financial hubs in New York, London and Singapore. Chris McLaughlin, Global Head of Group Treasury at Trafigura, said the collaboration \u201cwill enable us with 24/7 near-real-time payments across major global financial centers\u201d and offer greater efficiency for real-time cross-border transactions.\nAccording to J.P. Morgan, since its inception in 2019, the Kinexys platform has processed over $1.5 trillion in transaction volume, with average daily transactions exceeding $2 billion and registering 10x year-over-year growth in payments. In addition to deposit accounts, KDP provides a Programmable Payments feature with an \u201cif-this-then-that\u201d interface, allowing corporate clients to automate treasury workflows and enhance liquidity management.\nIn November, J.P. Morgan\u00a0announced a significant enhancement\u00a0to its blockchain platform, recently rebranded from Onyx to Kinexys. The bank will integrate Kinexys Digital Payments with J.P. Morgan FX Services, enabling on-chain FX settlement. This move positions Kinexys as a key player in the landscape of digital cross-border payments and foreign exchange.\nInitially supporting USD and EUR, with plans to expand to other currencies, this integration allowed clients to execute near real-time FX transactions and settlements via the J.P. Morgan global FX platform. This is expected to significantly reduce FX settlement risk and accelerate trade settlements, potentially revolutionizing how businesses manage international payments.\n\u201cTogether with our clients, we aim to move beyond the limitations of legacy technology and realize the promise of a multichain world,\u201d said Umar Farooq, co-head of J.P. Morgan Payments said at the time. \u201cOur goal is to foster a more connected ecosystem to break down disparate systems, enable greater interoperability and reduce the limitations of today\u2019s financial infrastructure.\u201d\nThe post JPMorgan Chase\u2019s Kinexys Broadens FX Reach With New GBP Blockchain Rollout appeared first on PYMNTS.com.", "date_published": "2025-04-14T06:58:05-04:00", "date_modified": "2025-04-14T06:58:05-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/02/J.P.-Morgan-Payments-Klarna-BNPL.jpg", "tags": [ "Blockchain", "cross-border", "Cryptocurrency", "J.P. Morgan Chase", "Kinexys Digital Payments", "News", "PYMNTS News", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2682658", "url": "https://www.pymnts.com/blockchain/2025/the-cfo-and-treasurers-guide-to-digital-assets/", "title": "The CFO and Treasurer\u2019s Guide to Digital Assets", "content_html": "Blockchain technology was meant to disrupt payments and finance. But while the payments space, at least in the U.S., remains in waiting for a crypto-led transformation, it is across capital markets where traditional approaches are already undergoing a quiet on-chain revolution thanks to the tokenization of real-world assets (RWAs).
\nWith the news this week that private equity and insurance giant Apollo has made a strategic investment in Plume, a\u00a0blockchain platform focused on RWAs, boardrooms and treasury offices are now paying closer attention to efficiencies gained by turning real-world assets into digital ones through tokenization.
\nThe Plume investment follows Apollo\u2019s January partnership with RWA infrastructure provider Securitize to tokenize investment opportunities.
\nAs digital transformation reshapes capital markets, RWAs represent a potent convergence of blockchain technology and traditional finance. For chief financial officers (CFOs) and corporate treasurers charged with steering balance sheets, optimizing liquidity and mitigating risk, RWAs could offer both compelling opportunities as well as new layers of complexity.
\nUnlike cryptocurrencies, which derive their value from consensus and scarcity, RWAs are anchored in real-world value and can often generate cash flow. For CFOs, this shift signals a move from speculative digital assets toward instruments that might be able to play tangible roles in liquidity management, yield generation and even collateralization strategies.
\nRead also: Need for On-Chain Trust Grows as AI Agents Flood Crypto
\nReal-world assets are tangible or intangible assets \u2014 such as U.S. Treasuries, real estate, invoices, carbon credits, securities or even art \u2014 that have been tokenized and placed on a blockchain. Tokenization refers to the process of issuing a digital token that represents ownership or a claim on an underlying asset. These digital representations are often embedded with smart contracts that automate compliance, yield disbursements and governance functions.
\nOnce these assets are tokenized, organizations and enterprises can take advantage of automated processes on various blockchains which can reduce transaction fees, streamline settlement times and enhance operational efficiency. Additionally, tokenizing traditionally illiquid assets makes them easier to buy, sell and trade on secondary markets.
\nMajor financial players, and not just Apollo, are taking RWAs seriously. BlackRock recently launched its first tokenized fund on the Ethereum blockchain, backed by short-term U.S. Treasurys. JPMorgan\u2019s Onyx platform has already settled billions in tokenized collateral transfers, while Citigroup partnered with\u00a0Wellington Management\u00a0and\u00a0WisdomTree\u00a0to\u00a0explore the tokenization\u00a0of private markets.
\nEarlier this year, it was also announced that Ondo Finance\u00a0would be the first provider to bring real-world assets to\u00a0Mastercard\u2019s\u00a0Multi-Token Network (MTN).
\n\u201cBanks are in the state where they are thinking about blockchains as public infrastructure that they need to rely on,\u201d\u00a0Chainalysis\u00a0Co-founder and CEO\u00a0Jonathan Levin\u00a0told\u00a0PYMNTS. \u201cBack in 2014 \u2026 cryptocurrency\u00a0only meant blockchains that had native cryptocurrency tokens. Today, people are putting all\u00a0types of\u00a0financial instruments\u00a0on the blockchain.\u201d
\nFor CFOs and treasurers responsible for safeguarding corporate capital and ensuring optimal deployment, RWAs present novel use cases across several financial disciplines.
\nSee also:\u00a0Stablecoin Sandwiches? Here\u2019s What CFOs Need to Know About Crypto\u00a0Jargon
\nDigital asset fluency is quickly becoming a core competency for finance teams. The blockchain can offer CFOs and treasurers a powerful toolkit, but, like all advanced technologies, it is one that must be wielded with precision and foresight.
\nPYMNTS Intelligence this year found that blockchain technology has\u00a0numerous potential benefits\u00a0to serve the unique needs of regulated industries, including finance, healthcare, identity verification and supply chain management, to name a few.
\nBut holding tokenized assets requires secure digital custody solutions. Custodians must be vetted not only for cybersecurity but also for their legal and compliance frameworks. Additionally, many RWA platforms still rely on centralized issuers who can pose operational or credit risk.
\nAmong the biggest uncertainty impacting the RWA space, just as with the rest of the on-chain economy, is the lack of operational clarity around regulation in the U.S. marketplace. But the tide is beginning to turn.
\n\u201cThe largest financial institutions are\u00a0eager to explore\u00a0tokenized assets,\u201d\u00a0Nikola Plecas, head of commercialization,\u00a0Visa\u00a0Crypto, told PYMNTS, but added that they require regulatory certainty to do so at scale.
\nPYMNTS covered Wednesday (April 9) how crypto industry participants and attorneys told a House subcommittee that existing regulations from the SEC lack clarity and are outdated, while the lawmakers in attendance said new legislation tied to market structure and oversight would be forthcoming.
\nThe post The CFO and Treasurer\u2019s Guide to Digital Assets appeared first on PYMNTS.com.
\n", "content_text": "Blockchain technology was meant to disrupt payments and finance. But while the payments space, at least in the U.S., remains in waiting for a crypto-led transformation, it is across capital markets where traditional approaches are already undergoing a quiet on-chain revolution thanks to the tokenization of real-world assets (RWAs).\nWith the news this week that private equity and insurance giant Apollo has made a strategic investment in Plume, a\u00a0blockchain platform focused on RWAs, boardrooms and treasury offices are now paying closer attention to efficiencies gained by turning real-world assets into digital ones through tokenization.\nThe Plume investment follows Apollo\u2019s January partnership with RWA infrastructure provider Securitize to tokenize investment opportunities.\nAs digital transformation reshapes capital markets, RWAs represent a potent convergence of blockchain technology and traditional finance. For chief financial officers (CFOs) and corporate treasurers charged with steering balance sheets, optimizing liquidity and mitigating risk, RWAs could offer both compelling opportunities as well as new layers of complexity.\nUnlike cryptocurrencies, which derive their value from consensus and scarcity, RWAs are anchored in real-world value and can often generate cash flow. For CFOs, this shift signals a move from speculative digital assets toward instruments that might be able to play tangible roles in liquidity management, yield generation and even collateralization strategies.\nRead also: Need for On-Chain Trust Grows as AI Agents Flood Crypto\nThe Institutional Shift Toward RWAs\nReal-world assets are tangible or intangible assets \u2014 such as U.S. Treasuries, real estate, invoices, carbon credits, securities or even art \u2014 that have been tokenized and placed on a blockchain. Tokenization refers to the process of issuing a digital token that represents ownership or a claim on an underlying asset. These digital representations are often embedded with smart contracts that automate compliance, yield disbursements and governance functions.\nOnce these assets are tokenized, organizations and enterprises can take advantage of automated processes on various blockchains which can reduce transaction fees, streamline settlement times and enhance operational efficiency. Additionally, tokenizing traditionally illiquid assets makes them easier to buy, sell and trade on secondary markets.\nMajor financial players, and not just Apollo, are taking RWAs seriously. BlackRock recently launched its first tokenized fund on the Ethereum blockchain, backed by short-term U.S. Treasurys. JPMorgan\u2019s Onyx platform has already settled billions in tokenized collateral transfers, while Citigroup partnered with\u00a0Wellington Management\u00a0and\u00a0WisdomTree\u00a0to\u00a0explore the tokenization\u00a0of private markets.\nEarlier this year, it was also announced that Ondo Finance\u00a0would be the first provider to bring real-world assets to\u00a0Mastercard\u2019s\u00a0Multi-Token Network (MTN).\n\u201cBanks are in the state where they are thinking about blockchains as public infrastructure that they need to rely on,\u201d\u00a0Chainalysis\u00a0Co-founder and CEO\u00a0Jonathan Levin\u00a0told\u00a0PYMNTS. \u201cBack in 2014 \u2026 cryptocurrency\u00a0only meant blockchains that had native cryptocurrency tokens. Today, people are putting all\u00a0types of\u00a0financial instruments\u00a0on the blockchain.\u201d\nFor CFOs and treasurers responsible for safeguarding corporate capital and ensuring optimal deployment, RWAs present novel use cases across several financial disciplines.\nSee also:\u00a0Stablecoin Sandwiches? Here\u2019s What CFOs Need to Know About Crypto\u00a0Jargon\nStrategic Considerations for CFOs and Treasurers\nDigital asset fluency is quickly becoming a core competency for finance teams. The blockchain can offer CFOs and treasurers a powerful toolkit, but, like all advanced technologies, it is one that must be wielded with precision and foresight.\nPYMNTS Intelligence this year found that blockchain technology has\u00a0numerous potential benefits\u00a0to serve the unique needs of regulated industries, including finance, healthcare, identity verification and supply chain management, to name a few.\nBut holding tokenized assets requires secure digital custody solutions. Custodians must be vetted not only for cybersecurity but also for their legal and compliance frameworks. Additionally, many RWA platforms still rely on centralized issuers who can pose operational or credit risk.\nAmong the biggest uncertainty impacting the RWA space, just as with the rest of the on-chain economy, is the lack of operational clarity around regulation in the U.S. marketplace. But the tide is beginning to turn.\n\u201cThe largest financial institutions are\u00a0eager to explore\u00a0tokenized assets,\u201d\u00a0Nikola Plecas, head of commercialization,\u00a0Visa\u00a0Crypto, told PYMNTS, but added that they require regulatory certainty to do so at scale.\nPYMNTS covered Wednesday (April 9) how crypto industry participants and attorneys told a House subcommittee that existing regulations from the SEC lack clarity and are outdated, while the lawmakers in attendance said new legislation tied to market structure and oversight would be forthcoming.\nThe post The CFO and Treasurer\u2019s Guide to Digital Assets appeared first on PYMNTS.com.", "date_published": "2025-04-11T11:15:58-04:00", "date_modified": "2025-04-13T22:35:24-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/CFO-treasurer-digital-assets-tokenization.png", "tags": [ "apollo", "assets", "B2B", "B2B Payments", "Blockchain", "CFOs", "Chief Financial Officers", "commercial payments", "digital assets", "digital transformation", "News", "PYMNTS News", "Real-World Assets", "securities", "Security", "tokenization", "treasurers", "treasury securities" ] }, { "id": "https://www.pymnts.com/?p=2518253", "url": "https://www.pymnts.com/blockchain/bitcoin/2025/gamestop-board-votes-to-add-bitcoin-as-treasury-reserve-asset/", "title": "GameStop Board Votes to Add Bitcoin as Treasury Reserve Asset", "content_html": "GameStop said in a Tuesday\u00a0(March 25)\u00a0press release that its board voted unanimously to add bitcoin as a treasury reserve asset.
\nThe retail gaming destination also announced this update to its investment policy in a\u00a0Form 10-K filed Tuesday with the\u00a0Securities and Exchange Commission (SEC), saying that a portion of its cash or future debt and equity issuances may be invested in bitcoin.
\n\u201cWe have not set a maximum amount of Bitcoin we may accumulate, and may sell any Bitcoin we may acquire,\u201d GameStop said in the Form 10-K.
\nThe company said in the filing that its bitcoin strategy has not been tested and may prove unsuccessful, and that the firm is continually examining the risks and rewards of its strategy.
\n\u201cThe Bitcoin markets have historically experienced significant volatility in price, limited liquidity and trading volumes, relative anonymity, potential susceptibility to market abuse and manipulation, compliance and internal control failures at exchanges and other risks inherent in its entirely electronic, virtual form and decentralized network,\u201d GameStop said.
\nGameStop announced this move on the same day it reported its fourth quarter and fiscal year 2024\u00a0results and said it would not hold a conference call on Tuesday.
\nThe company said its net sales totaled $3.823 billion\u00a0in fiscal year 2024, down from $5.273 billion\u00a0the previous year. Its net income was $131.3 million, up from $6.7 million in fiscal year 2023.
\nDuring the fourth quarter, GameStop completed its divestiture in Italy and its wind-down of store operations in Germany, according to the Tuesday earnings release.
\nThe\u00a0gaming retailer has been facing challenges as it adjusts to the rise of digital distribution and changing consumer behavior, PYMNTS reported in December.
\nGameStop CEO\u00a0Ryan Cohen has been cutting costs and streamlining operations as he works to revive the struggling brick-and-mortar business, CNBC\u00a0reportedTuesday.
\nThe report noted that GameStop\u2019s plan to buy bitcoin with its corporate cash is a strategy made famous by MicroStrategy, which is now known as\u00a0Strategy. That firm saw a rapid but volatile rise in its stock after it invested billions of dollars in bitcoin and became the largest corporate holder of that cryptocurrency.
\nThe post GameStop Board Votes to Add Bitcoin as Treasury Reserve Asset appeared first on PYMNTS.com.
\n", "content_text": "GameStop said in a Tuesday\u00a0(March 25)\u00a0press release that its board voted unanimously to add bitcoin as a treasury reserve asset.\nThe retail gaming destination also announced this update to its investment policy in a\u00a0Form 10-K filed Tuesday with the\u00a0Securities and Exchange Commission (SEC), saying that a portion of its cash or future debt and equity issuances may be invested in bitcoin.\n\u201cWe have not set a maximum amount of Bitcoin we may accumulate, and may sell any Bitcoin we may acquire,\u201d GameStop said in the Form 10-K.\nThe company said in the filing that its bitcoin strategy has not been tested and may prove unsuccessful, and that the firm is continually examining the risks and rewards of its strategy.\n\u201cThe Bitcoin markets have historically experienced significant volatility in price, limited liquidity and trading volumes, relative anonymity, potential susceptibility to market abuse and manipulation, compliance and internal control failures at exchanges and other risks inherent in its entirely electronic, virtual form and decentralized network,\u201d GameStop said.\nGameStop announced this move on the same day it reported its fourth quarter and fiscal year 2024\u00a0results and said it would not hold a conference call on Tuesday.\nThe company said its net sales totaled $3.823 billion\u00a0in fiscal year 2024, down from $5.273 billion\u00a0the previous year. Its net income was $131.3 million, up from $6.7 million in fiscal year 2023.\nDuring the fourth quarter, GameStop completed its divestiture in Italy and its wind-down of store operations in Germany, according to the Tuesday earnings release.\nThe\u00a0gaming retailer has been facing challenges as it adjusts to the rise of digital distribution and changing consumer behavior, PYMNTS reported in December.\nGameStop CEO\u00a0Ryan Cohen has been cutting costs and streamlining operations as he works to revive the struggling brick-and-mortar business, CNBC\u00a0reportedTuesday.\nThe report noted that GameStop\u2019s plan to buy bitcoin with its corporate cash is a strategy made famous by MicroStrategy, which is now known as\u00a0Strategy. That firm saw a rapid but volatile rise in its stock after it invested billions of dollars in bitcoin and became the largest corporate holder of that cryptocurrency.\nThe post GameStop Board Votes to Add Bitcoin as Treasury Reserve Asset appeared first on PYMNTS.com.", "date_published": "2025-03-25T19:56:16-04:00", "date_modified": "2025-03-25T19:56:16-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/GameStop-bitcoin-cryptocurrency.jpg", "tags": [ "Bitcoin", "Blockchain", "crypto", "Cryptocurrency", "digital assets", "Gamestop", "News", "PYMNTS News", "Ryan Cohen", "spend management", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2516089", "url": "https://www.pymnts.com/blockchain/2025/stablecoin-issuer-tether-says-audit-of-reserves-is-top-priority/", "title": "Stablecoin Issuer Tether Says Audit of Reserves Is \u2018Top Priority\u2019", "content_html": "Stablecoin issuer\u00a0Tether is reportedly talking with one of the Big Four accounting firms about doing an audit of its reserves.
\nTether CEO\u00a0Paolo Ardoino said an audit is \u201cour top priority,\u201d but did not specify which accounting firm the company is talking with or when the audit would be conducted, Reuters\u00a0reported Friday (March 21).
\nThe company has said for years that it will release a full financial audit, but it has so far released only quarterly reports on its reserves compiled by accounting firm\u00a0BDO Italia, according to the report.
\nTether has issued more than $140 billion\u00a0worth of its dollar-pegged stablecoin and says it holds dollar-denominated reserves for every token it creates, the report said.
\nArdoino said getting an audit of Tether\u2019s reserves will be easier under President Donald Trump, who has pledged to be a \u201ccrypto president,\u201d per the report.
\n\u201cIf the President of the United States says this is a top priority for the U.S., Big Four auditing firms will have to listen, so we are very happy with that,\u201d Ardoino said, per the report.
\nTether\u2019s latest\u00a0attestation report, which was conducted by BDO, said that as of Dec. 31, the reserves for Tether tokens in circulation amounted to about $143.7 billion\u00a0and the value of assets composing the reserves exceeded the value of the liabilities of the companies issuing Tether tokens by about $7.1 billion.
\nThe company said in a March\u00a03\u00a0press release that it appointed a new chief financial officer, Simon McWilliams, as part of its \u201cfirm commitment\u201d to completing a full audit and expanding across the institutional financial system.
\n\u201cSimon\u2019s expertise in financial audits makes him the perfect CFO to lead Tether into this new era of transparency,\u201d Ardoino said in the release. \u201cWith his leadership, we are moving decisively toward a full audit, reinforcing our role in supporting U.S. financial strength and expanding institutional engagement.\u201d
\nIt was reported in January that Tether is one of the stablecoin issuers that will be boosted by Trump\u2019s executive order on\u00a0digital assets issued Jan. 23. The order aligned stablecoins with the government\u2019s efforts to maintain the global supremacy of the dollar and blocked a potential competitor to stablecoins by barring development of a central bank digital currency.
\nThe post Stablecoin Issuer Tether Says Audit of Reserves Is \u2018Top Priority\u2019 appeared first on PYMNTS.com.
\n", "content_text": "Stablecoin issuer\u00a0Tether is reportedly talking with one of the Big Four accounting firms about doing an audit of its reserves.\nTether CEO\u00a0Paolo Ardoino said an audit is \u201cour top priority,\u201d but did not specify which accounting firm the company is talking with or when the audit would be conducted, Reuters\u00a0reported Friday (March 21).\nThe company has said for years that it will release a full financial audit, but it has so far released only quarterly reports on its reserves compiled by accounting firm\u00a0BDO Italia, according to the report.\nTether has issued more than $140 billion\u00a0worth of its dollar-pegged stablecoin and says it holds dollar-denominated reserves for every token it creates, the report said.\nArdoino said getting an audit of Tether\u2019s reserves will be easier under President Donald Trump, who has pledged to be a \u201ccrypto president,\u201d per the report.\n\u201cIf the President of the United States says this is a top priority for the U.S., Big Four auditing firms will have to listen, so we are very happy with that,\u201d Ardoino said, per the report.\nTether\u2019s latest\u00a0attestation report, which was conducted by BDO, said that as of Dec. 31, the reserves for Tether tokens in circulation amounted to about $143.7 billion\u00a0and the value of assets composing the reserves exceeded the value of the liabilities of the companies issuing Tether tokens by about $7.1 billion.\nThe company said in a March\u00a03\u00a0press release that it appointed a new chief financial officer, Simon McWilliams, as part of its \u201cfirm commitment\u201d to completing a full audit and expanding across the institutional financial system.\n\u201cSimon\u2019s expertise in financial audits makes him the perfect CFO to lead Tether into this new era of transparency,\u201d Ardoino said in the release. \u201cWith his leadership, we are moving decisively toward a full audit, reinforcing our role in supporting U.S. financial strength and expanding institutional engagement.\u201d\nIt was reported in January that Tether is one of the stablecoin issuers that will be boosted by Trump\u2019s executive order on\u00a0digital assets issued Jan. 23. The order aligned stablecoins with the government\u2019s efforts to maintain the global supremacy of the dollar and blocked a potential competitor to stablecoins by barring development of a central bank digital currency.\nThe post Stablecoin Issuer Tether Says Audit of Reserves Is \u2018Top Priority\u2019 appeared first on PYMNTS.com.", "date_published": "2025-03-21T13:17:10-04:00", "date_modified": "2025-03-23T23:22:58-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/03/Tether-stablecoin-1.jpg", "tags": [ "audits", "banking", "Business", "digital assets", "digital transformation", "financial services", "FinTechs", "News", "PYMNTS News", "stablecoins", "Tether", "What's Hot", "Blockchain" ] }, { "id": "https://www.pymnts.com/?p=2515937", "url": "https://www.pymnts.com/blockchain/2025/making-sense-of-public-versus-private-blockchains-for-financial-services/", "title": "Making Sense of Public Versus Private Blockchains for Banks", "content_html": "When financial institutions and payments players talk about their \u201cblockchain strategy\u201d today, what they\u2019re really grappling with is architecture.
\nAmid the noise surrounding crypto, tokens and Web3 hype cycles, the most consequential choice for builders, product leaders and decision-makers in the financial services and payments space often boils down to a deceptively simple question:\u00a0public or private?
\nAfter all, not all blockchains are built the same. For stakeholders in financial services and payments ecosystems building infrastructure, developing new products, or simply assessing risks around embracing on-chain operations, understanding the difference between public and private chains is key to informing any crypto or blockchain strategy.
\nBoth iterations of blockchain technology promise some version of faster, more secure and more transparent transactions. But, under the hood, they are fundamentally different; and for institutions operating at scale or under regulatory scrutiny, those differences can matter immensely.
\nRead more:\u00a05 Blockchain Projects the World\u2019s Biggest Banks Are Behind
\nPublic blockchains, like Bitcoin, Ethereum and Solana, are open networks. Anyone can participate, validate transactions and view the ledger. They\u2019re decentralized by design, governed by protocol rules and maintained by distributed communities of node operators.
\nPrivate blockchains, on the other hand, are permissioned systems. Access is restricted to selected participants, usually enterprises or consortia, who control who gets to read from and write to the network. Think of JPMorgan\u2019s Onyx platform and other banking initiatives where a public blockchain\u2019s transparency can inadvertently reveal sensitive information.
\nPublic blockchains offer radical transparency but limited control. For institutions used to operating in closed systems, the idea that anyone could audit their transactions, or build interoperable layers on top of their infrastructure, is both powerful and potentially threatening.
\nIn public chains, trust is algorithmic. Consensus mechanisms like proof of work or proof of stake ensure that no single entity can manipulate the ledger. The system is the source of trust.
\nPrivate blockchains, meanwhile, deliver enterprise-grade control and governance. But they sacrifice the kind of transparency and resilience that make public blockchains attractive for high-trust, low-friction applications like cross-border payments, stablecoins or tokenized assets.
\nIn private chains, trust is institutional. Participants must trust the consortium, or the company running the network, not to change the rules unilaterally or abuse access. This can be entirely acceptable for closed-loop systems like supply chain finance, interbank settlement or corporate treasury management.
\nRead more:\u00a0Blockchain Interoperability Hits the Right Note for Crypto Payments
\nUltimately, the choice between public and private blockchain architectures isn\u2019t about ideology, it\u2019s about strategy. What are you building? Who are you serving? What risks are you managing?
\nThere\u2019s no one-size-fits-all solution. What\u2019s becoming clear is that the future of financial infrastructure will be multi-chain, with smart routing between public and private environments depending on context.
\nFor a global remittance provider seeking interoperability across borders and partners, a public chain might offer better reach and lower friction. For a bank digitizing its internal settlement processes, a private chain may offer better security, governance and control.
\nOn Thursday (March 20), Circular Protocol,\u00a0Arculus by CompoSecure\u00a0and IT Lab announced that they plan to launch a blockchain-compliant ecosystem for healthcare providers in the U.S. market in the second quarter. Circular Protocol uses a dual approach, offering both private and public blockchains within its architecture.
\nWhile preconceptions have favored private over public blockchain for regulated industries due to strict data privacy requirements public blockchain has numerous potential benefits to serve the unique needs of healthcare and other regulated industries that must adhere to numerous requirements, according to the PYMNTS Intelligence and\u00a0Solana\u00a0collaboration, \u201cBlockchain\u2019s Benefits for Regulated Industries.\u201d
\nStill, as financial institutions tokenize real-world assets (RWAs), FinTechs experiment with programmable payments, and more of consumers and enterprises financial lives moves onto the blockchain, the line between public and private chains is set to blur even further.
\nFor decision-makers in financial services, this is both a challenge and an opportunity. The right blockchain architecture won\u2019t just support your current business model \u2014 it will shape your strategic flexibility, regulatory posture and innovation capacity for years to come.
\nBecause in the blockchain world, the architecture\u00a0is\u00a0the strategy. And innovative applications of that architecture are already transforming areas such as\u00a0corporate treasury operations.
\nThe post Making Sense of Public Versus Private Blockchains for Banks appeared first on PYMNTS.com.
\n", "content_text": "When financial institutions and payments players talk about their \u201cblockchain strategy\u201d today, what they\u2019re really grappling with is architecture.\nAmid the noise surrounding crypto, tokens and Web3 hype cycles, the most consequential choice for builders, product leaders and decision-makers in the financial services and payments space often boils down to a deceptively simple question:\u00a0public or private?\nAfter all, not all blockchains are built the same. For stakeholders in financial services and payments ecosystems building infrastructure, developing new products, or simply assessing risks around embracing on-chain operations, understanding the difference between public and private chains is key to informing any crypto or blockchain strategy.\nBoth iterations of blockchain technology promise some version of faster, more secure and more transparent transactions. But, under the hood, they are fundamentally different; and for institutions operating at scale or under regulatory scrutiny, those differences can matter immensely.\nRead more:\u00a05 Blockchain Projects the World\u2019s Biggest Banks Are Behind\nTrust in the System, or the System of Trust?\nPublic blockchains, like Bitcoin, Ethereum and Solana, are open networks. Anyone can participate, validate transactions and view the ledger. They\u2019re decentralized by design, governed by protocol rules and maintained by distributed communities of node operators.\nPrivate blockchains, on the other hand, are permissioned systems. Access is restricted to selected participants, usually enterprises or consortia, who control who gets to read from and write to the network. Think of JPMorgan\u2019s Onyx platform and other banking initiatives where a public blockchain\u2019s transparency can inadvertently reveal sensitive information.\nPublic blockchains offer radical transparency but limited control. For institutions used to operating in closed systems, the idea that anyone could audit their transactions, or build interoperable layers on top of their infrastructure, is both powerful and potentially threatening.\nIn public chains, trust is algorithmic. Consensus mechanisms like proof of work or proof of stake ensure that no single entity can manipulate the ledger. The system is the source of trust.\nPrivate blockchains, meanwhile, deliver enterprise-grade control and governance. But they sacrifice the kind of transparency and resilience that make public blockchains attractive for high-trust, low-friction applications like cross-border payments, stablecoins or tokenized assets.\nIn private chains, trust is institutional. Participants must trust the consortium, or the company running the network, not to change the rules unilaterally or abuse access. This can be entirely acceptable for closed-loop systems like supply chain finance, interbank settlement or corporate treasury management.\nRead more:\u00a0Blockchain Interoperability Hits the Right Note for Crypto Payments\nStrategic Fit, Not Ideological Purity\nUltimately, the choice between public and private blockchain architectures isn\u2019t about ideology, it\u2019s about strategy. What are you building? Who are you serving? What risks are you managing?\nThere\u2019s no one-size-fits-all solution. What\u2019s becoming clear is that the future of financial infrastructure will be multi-chain, with smart routing between public and private environments depending on context.\nFor a global remittance provider seeking interoperability across borders and partners, a public chain might offer better reach and lower friction. For a bank digitizing its internal settlement processes, a private chain may offer better security, governance and control.\nOn Thursday (March 20), Circular Protocol,\u00a0Arculus by CompoSecure\u00a0and IT Lab announced that they plan to launch a blockchain-compliant ecosystem for healthcare providers in the U.S. market in the second quarter. Circular Protocol uses a dual approach, offering both private and public blockchains within its architecture.\nWhile preconceptions have favored private over public blockchain for regulated industries due to strict data privacy requirements public blockchain has numerous potential benefits to serve the unique needs of healthcare and other regulated industries that must adhere to numerous requirements, according to the PYMNTS Intelligence and\u00a0Solana\u00a0collaboration, \u201cBlockchain\u2019s Benefits for Regulated Industries.\u201d\nStill, as financial institutions tokenize real-world assets (RWAs), FinTechs experiment with programmable payments, and more of consumers and enterprises financial lives moves onto the blockchain, the line between public and private chains is set to blur even further.\nFor decision-makers in financial services, this is both a challenge and an opportunity. The right blockchain architecture won\u2019t just support your current business model \u2014 it will shape your strategic flexibility, regulatory posture and innovation capacity for years to come.\nBecause in the blockchain world, the architecture\u00a0is\u00a0the strategy. And innovative applications of that architecture are already transforming areas such as\u00a0corporate treasury operations.\nThe post Making Sense of Public Versus Private Blockchains for Banks appeared first on PYMNTS.com.", "date_published": "2025-03-21T11:16:21-04:00", "date_modified": "2025-03-24T21:45:29-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/10/blockchain-payments.png", "tags": [ "B2B", "B2B Payments", "banking", "Blockchain", "blockchain technology", "commercial payments", "cross-border payments", "crypto", "Cryptocurrency", "distributed ledger technology", "Featured News", "financial services", "FinTech", "News", "private blockchain", "public blockchain", "PYMNTS News", "Technology", "Web3" ] }, { "id": "https://www.pymnts.com/?p=2515595", "url": "https://www.pymnts.com/blockchain/2025/circular-arculus-and-it-lab-partner-on-healthcare-focused-blockchain-ecosystem/", "title": "Circular, Arculus and IT Lab Partner on Healthcare-Focused Blockchain Ecosystem", "content_html": "Circular Protocol,\u00a0Arculus by CompoSecure and IT Lab said Thursday (March 20) that they plan to launch a blockchain-compliant ecosystem for healthcare providers in the U.S. market in the second quarter.
\nThe companies\u2019\u00a0solution will integrate into clinical networks and serve as the secure passkey for recording, managing and safeguarding healthcare data within facilities using the MedTech device, according to a Thursday (March 20)\u00a0press release.
\nThe solution will be enabled by the Circular blockchain and by security and software offerings from Arculus by CompoSecure and IT Lab, according to the release.
\nIn use, the ecosystem\u2019s solution will include a physical card holding a private key that will enable authorized administrators, operators and patients to digitally sign off procedures, exams and other transactions on the blockchain by simply tapping the card on their computer, per the release.
\n\u201cTech needs to be invisible and easy to use while delivering the benefits of secure and immutable records on a public registry, so the rights of medical institutions and patients are protected, and their data safely stored,\u201d Dr.\u00a0Gianluca De Novi, founder\u00a0and CEO at Circular Protocol, said in the release.
\nBlockchain has numerous potential benefits to serve the unique needs of healthcare and other regulated industries that must adhere to numerous requirements, according to the PYMNTS Intelligence and\u00a0Solana collaboration, \u201cBlockchain\u2019s Benefits for Regulated Industries.\u201d
\nThe report found that blockchain enables robust know your customer (KYC) and anti-money laundering (AML) by verifying identities in real time and providing an immutable record of data and transactions; facilitates secure data sharing between authorized parties by using cryptography and access controls; and, with smart contracts, can enforce rules automatically to aid compliance and reduce human error.
\n\u201cFor example, in healthcare, blockchain\u2019s distributed ledger technology can be leveraged to streamline centralization of patient records while ensuring that only authorized parties have access to their confidential data,\u201d the report said.
\nAt a time when authentication-based fraud is skyrocketing,\u00a0tap-to-authenticate technology is currently being considered as a security measure by 77% of financial institutions, according to the PYMNTS Intelligence and Arculus collaboration, \u201cTo Stamp Out Authentication-Based Fraud, Banks Want Metal Cards.\u201d
\nThe post Circular, Arculus and IT Lab Partner on Healthcare-Focused Blockchain Ecosystem appeared first on PYMNTS.com.
\n", "content_text": "Circular Protocol,\u00a0Arculus by CompoSecure and IT Lab said Thursday (March 20) that they plan to launch a blockchain-compliant ecosystem for healthcare providers in the U.S. market in the second quarter.\nThe companies\u2019\u00a0solution will integrate into clinical networks and serve as the secure passkey for recording, managing and safeguarding healthcare data within facilities using the MedTech device, according to a Thursday (March 20)\u00a0press release.\nThe solution will be enabled by the Circular blockchain and by security and software offerings from Arculus by CompoSecure and IT Lab, according to the release.\nIn use, the ecosystem\u2019s solution will include a physical card holding a private key that will enable authorized administrators, operators and patients to digitally sign off procedures, exams and other transactions on the blockchain by simply tapping the card on their computer, per the release.\n\u201cTech needs to be invisible and easy to use while delivering the benefits of secure and immutable records on a public registry, so the rights of medical institutions and patients are protected, and their data safely stored,\u201d Dr.\u00a0Gianluca De Novi, founder\u00a0and CEO at Circular Protocol, said in the release.\nBlockchain has numerous potential benefits to serve the unique needs of healthcare and other regulated industries that must adhere to numerous requirements, according to the PYMNTS Intelligence and\u00a0Solana collaboration, \u201cBlockchain\u2019s Benefits for Regulated Industries.\u201d\nThe report found that blockchain enables robust know your customer (KYC) and anti-money laundering (AML) by verifying identities in real time and providing an immutable record of data and transactions; facilitates secure data sharing between authorized parties by using cryptography and access controls; and, with smart contracts, can enforce rules automatically to aid compliance and reduce human error.\n\u201cFor example, in healthcare, blockchain\u2019s distributed ledger technology can be leveraged to streamline centralization of patient records while ensuring that only authorized parties have access to their confidential data,\u201d the report said.\nAt a time when authentication-based fraud is skyrocketing,\u00a0tap-to-authenticate technology is currently being considered as a security measure by 77% of financial institutions, according to the PYMNTS Intelligence and Arculus collaboration, \u201cTo Stamp Out Authentication-Based Fraud, Banks Want Metal Cards.\u201d\nThe post Circular, Arculus and IT Lab Partner on Healthcare-Focused Blockchain Ecosystem appeared first on PYMNTS.com.", "date_published": "2025-03-20T19:50:32-04:00", "date_modified": "2025-03-20T19:50:32-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/blockchain-healthcare-Circular-Arculus-IT-Lab.jpg", "tags": [ "Arculus", "Blockchain", "digital transformation", "Healthcare", "HealthTech", "IT Lab", "News", "partnerships", "PYMNTS News", "Web3", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2510997", "url": "https://www.pymnts.com/blockchain/2025/this-week-in-blockchain-stablecoins-distance-themselves-from-crypto-markets/", "title": "This Week in Blockchain: Stablecoins Distance Themselves From Crypto Markets", "content_html": "The one constant throughout crypto\u2019s history has been the same question: Where is the sector headed next?
\nFor crypto markets, the answer appears, at least for the past few days, to be \u201cdown.\u201d The price of bitcoin and other popular digital assets have plummeted, with crypto markets at their lowest in three months as of Wednesday (March 12). Of course, the equity markets haven\u2019t been doing much better on news of tariff uncertainty.
\nStill, after years of uncertainty, the regulatory environment around cryptocurrency is beginning to take clearer shape in the U.S. Unlike previous market cycles where stablecoins were largely tied to crypto trading activity, the news this week revealed that there is now a focus on real-world utility, including cross-border payments, remittances and corporate treasury management.
\nAs major players from financial institutions to policymakers continue to make strategic moves, the question, as always, remains: Where is crypto headed next?
\nRead more: The Payment Professional\u2019s Key Takeaways From Trump\u2019s Crypto Summit
\nStablecoins have emerged as one of the most promising digital asset classes, with industry leaders touting their potential to revolutionize payments. Traditional financial giants are actively exploring their own stablecoin initiatives. However, regulatory frameworks surrounding stablecoins remain fragmented and have kept certain players on the sidelines. But that\u2019s all beginning to change.
\nDuring testimony and under questioning by representatives of the\u00a0House Financial Services Committee,\u00a0witnesses, including executives from PayPal and Stripe, told lawmakers Tuesday (March 11) that payment stablecoins, blockchain and other digital innovations, including tokenization, will enable more efficient money movement across the globe, while ensuring primacy of the U.S. dollar.
\nAt the same hearing Tuesday, House Financial Services Committee Chairman\u00a0French Hill, R-Ark., said he supports the development of a federal framework for payment stablecoins and opposes the creation of a central bank digital currency (CBDC).
\nIn his\u00a0remarks, Hill said he supports two bills recently introduced or re-introduced in the House: the\u00a0STABLE Act, which is focused on stablecoins, and the\u00a0Anti-CBDC Surveillance State Act, which would prohibit a U.S. CBDC.
\nPYMNTS reported Monday (March 10) how the world\u2019s biggest banks and FinTechs are scrambling to roll out their own\u00a0stablecoins.
\nSee also:\u00a0OCC Says Banks Can Hold Crypto, but Should They?
\nAfter years of uncertainty, the regulatory environment around cryptocurrency is beginning to take clearer shape.
\nUnder the Trump administration, the first-ever White House \u201cCrypto Summit\u201d signaled a newfound openness to digital assets. While light on specific regulations, the event emphasized America\u2019s need to lead in blockchain innovation and digital finance. President Donald Trump\u2019s remarks reflected a shift in tone, acknowledging crypto\u2019s potential economic impact rather than focusing solely on its risks.
\nAfter the White House Crypto Summit held Friday, the\u00a0Office of the Comptroller of the Currency reclarified certain crypto banking permissions, confirming that crypto-asset custody, certain\u00a0stablecoin activities and participation in independent node verification networks such as distributed ledger are permissible for national banks and federal savings associations, PYMNTS reported.
\nDespite its promise, the crypto sector continues to grapple with security breaches and high-profile legal cases. The cryptocurrency exchange OKX recently found itself under regulatory scrutiny following a major hack at Bybit, raising concerns about the industry\u2019s ability to safeguard user funds.
\nMeanwhile, former FTX CEO Sam Bankman-Fried is making headlines again, reportedly lobbying for a presidential pardon following his conviction on fraud charges. His downfall remains one of the most dramatic collapses in financial history.
\nMore like this:\u00a0Regulations Become Crucial as Stablecoins Push Payments Frontier
\nOn Tuesday, crypto payments network\u00a0Mesh announced it had\u00a0raised $82 million in a Series B funding round to accelerate product development and the expansion of its application programming interfaces (APIs).
\nElsewhere, cryptocurrency firm\u00a0Gemini, headed by billionaire twin brothers Cameron and Tyler Winklevoss, reportedly filed confidentially for an initial public offering (IPO). Cryptocurrency exchange\u00a0Kraken is\u00a0also\u00a0reportedly preparing to\u00a0go public as soon as the first quarter of 2026. The plan came after the company settled one\u00a0case with the SEC and fought another\u00a0one\u00a0until the SEC agreed to drop it.
\nLooking ahead, the future of cryptocurrency will depend on the balance between regulation, innovation and market adoption. If regulatory clarity continues to improve, stablecoins could become the default choice for cross-border payments, bridging the gap between traditional banking and decentralized finance. Meanwhile, as security measures tighten and institutions adopt blockchain-based solutions, trust in digital assets may grow.
\nWhether driven by regulatory shifts, technological advancements, or evolving consumer behavior, the next chapter of digital finance is being written now.
\nThe post This Week in Blockchain: Stablecoins Distance Themselves From Crypto Markets appeared first on PYMNTS.com.
\n", "content_text": "The one constant throughout crypto\u2019s history has been the same question: Where is the sector headed next?\nFor crypto markets, the answer appears, at least for the past few days, to be \u201cdown.\u201d The price of bitcoin and other popular digital assets have plummeted, with crypto markets at their lowest in three months as of Wednesday (March 12). Of course, the equity markets haven\u2019t been doing much better on news of tariff uncertainty.\nStill, after years of uncertainty, the regulatory environment around cryptocurrency is beginning to take clearer shape in the U.S. Unlike previous market cycles where stablecoins were largely tied to crypto trading activity, the news this week revealed that there is now a focus on real-world utility, including cross-border payments, remittances and corporate treasury management.\nAs major players from financial institutions to policymakers continue to make strategic moves, the question, as always, remains: Where is crypto headed next?\nRead more: The Payment Professional\u2019s Key Takeaways From Trump\u2019s Crypto Summit\nStablecoins as Bridge Between Traditional Finance and Crypto\nStablecoins have emerged as one of the most promising digital asset classes, with industry leaders touting their potential to revolutionize payments. Traditional financial giants are actively exploring their own stablecoin initiatives. However, regulatory frameworks surrounding stablecoins remain fragmented and have kept certain players on the sidelines. But that\u2019s all beginning to change.\nDuring testimony and under questioning by representatives of the\u00a0House Financial Services Committee,\u00a0witnesses, including executives from PayPal and Stripe, told lawmakers Tuesday (March 11) that payment stablecoins, blockchain and other digital innovations, including tokenization, will enable more efficient money movement across the globe, while ensuring primacy of the U.S. dollar.\nAt the same hearing Tuesday, House Financial Services Committee Chairman\u00a0French Hill, R-Ark., said he supports the development of a federal framework for payment stablecoins and opposes the creation of a central bank digital currency (CBDC).\nIn his\u00a0remarks, Hill said he supports two bills recently introduced or re-introduced in the House: the\u00a0STABLE Act, which is focused on stablecoins, and the\u00a0Anti-CBDC Surveillance State Act, which would prohibit a U.S. CBDC.\nPYMNTS reported Monday (March 10) how the world\u2019s biggest banks and FinTechs are scrambling to roll out their own\u00a0stablecoins.\nSee also:\u00a0OCC Says Banks Can Hold Crypto, but Should They?\nThe Regulatory Pendulum Swings\nAfter years of uncertainty, the regulatory environment around cryptocurrency is beginning to take clearer shape.\nUnder the Trump administration, the first-ever White House \u201cCrypto Summit\u201d signaled a newfound openness to digital assets. While light on specific regulations, the event emphasized America\u2019s need to lead in blockchain innovation and digital finance. President Donald Trump\u2019s remarks reflected a shift in tone, acknowledging crypto\u2019s potential economic impact rather than focusing solely on its risks.\nAfter the White House Crypto Summit held Friday, the\u00a0Office of the Comptroller of the Currency reclarified certain crypto banking permissions, confirming that crypto-asset custody, certain\u00a0stablecoin activities and participation in independent node verification networks such as distributed ledger are permissible for national banks and federal savings associations, PYMNTS reported.\nDespite its promise, the crypto sector continues to grapple with security breaches and high-profile legal cases. The cryptocurrency exchange OKX recently found itself under regulatory scrutiny following a major hack at Bybit, raising concerns about the industry\u2019s ability to safeguard user funds.\nMeanwhile, former FTX CEO Sam Bankman-Fried is making headlines again, reportedly lobbying for a presidential pardon following his conviction on fraud charges. His downfall remains one of the most dramatic collapses in financial history.\nMore like this:\u00a0Regulations Become Crucial as Stablecoins Push Payments Frontier\nCrypto Innovation in the Marketplace \nOn Tuesday, crypto payments network\u00a0Mesh announced it had\u00a0raised $82 million in a Series B funding round to accelerate product development and the expansion of its application programming interfaces (APIs).\nElsewhere, cryptocurrency firm\u00a0Gemini, headed by billionaire twin brothers Cameron and Tyler Winklevoss, reportedly filed confidentially for an initial public offering (IPO). Cryptocurrency exchange\u00a0Kraken is\u00a0also\u00a0reportedly preparing to\u00a0go public as soon as the first quarter of 2026. The plan came after the company settled one\u00a0case with the SEC and fought another\u00a0one\u00a0until the SEC agreed to drop it.\nLooking ahead, the future of cryptocurrency will depend on the balance between regulation, innovation and market adoption. If regulatory clarity continues to improve, stablecoins could become the default choice for cross-border payments, bridging the gap between traditional banking and decentralized finance. Meanwhile, as security measures tighten and institutions adopt blockchain-based solutions, trust in digital assets may grow.\nWhether driven by regulatory shifts, technological advancements, or evolving consumer behavior, the next chapter of digital finance is being written now.\nThe post This Week in Blockchain: Stablecoins Distance Themselves From Crypto Markets appeared first on PYMNTS.com.", "date_published": "2025-03-12T16:34:00-04:00", "date_modified": "2025-03-12T21:36:03-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/blockchain-stablecoins-regulations.jpg", "tags": [ "B2B", "B2B Payments", "Bitcoin", "Blockchain", "CBDC", "Central Bank Digital Currency", "commercial payments", "Cryptocurrency", "digital assets", "Digital Payments", "digital transformation", "Donald Trump", "financial technology", "News", "politics", "PYMNTS News", "regulations", "stablecoins", "Web3" ] }, { "id": "https://www.pymnts.com/?p=2510383", "url": "https://www.pymnts.com/blockchain/2025/stripe-paxos-ceos-say-payments-ecosystem-needs-stablecoins-and-blockchain-but-not-cbdc/", "title": "Stripe, Paxos CEOs Say Payments Ecosystem Needs Stablecoins and Blockchain but Not CBDC", "content_html": "Payment stablecoins, blockchain and other digital innovations, including tokenization, will enable more efficient money movement across the globe, while ensuring primacy of the U.S. dollar in transactions and trade, executives and other industry experts told lawmakers Tuesday (March 11).
\nDuring testimony and under questioning by representatives of the House Financial Services Committee, witnesses at the nearly four-hour hearing also contended that it is the private sector \u2014 and not a central bank-created CBDC \u2014 that will expand financial services and the benefits of digital dollar options to the world at large.
\nChairman Rep. French Hill, R-Ark., said during his opening remarks: \u201cThe evolution of payment stablecoins and their increasing adoption beyond the digital asset ecosystem reflect broader modernization efforts in the U.S. and global payments landscape,\u201d noting that the offerings streamline cross-border payments.\u00a0\u00a0
\nHe stated, too, that a \u201cproperly regulated stablecoin market can strengthen the U.S. dollar\u2019s dominance, modernize our payments infrastructure and promote financial access,\u201d but said later that a CBDC represented a \u201ccompeting vision about the future of digital payments\u201d that would put the central bank in direct competition with the private sector.
\nOffering a contrasting view of CBDCs, ranking member Rep. Maxine Waters, D-Calif., said: \u201cI\u2019m deeply concerned that we are considering a bill today to strip the Consumer Financial Protection Bureau of supervision of big tech payment apps \u2026 the Republican resistance to even allow the Fed to study Central Bank Digital Currencies is not only anti-innovation, but is anti-American as it helps China win the digital currency \u2018space race\u2019 and undermines the U.S. dollar as the world\u2019s reserve currency.\u201d
\nCaroline Butler, global head of digital assets at BNY, told the committee that \u201cblockchain technology has the potential to make money move smarter and faster,\u201d and said that the overall payments ecosystem, and particularly stablecoins, would benefit from federal legislation that \u201cadvances clarity and consistency\u201d no matter the issuer or regulatory regime.
\nHer written testimony added that tokenization will \u201cresult in greater speed, resiliency and operational efficiencies\u201d against a backdrop where the digital assets ecosystem would also include tokenized deposits.
\nCharles Cascarilla, CEO of Paxos, which issues stablecoins including PayPal\u2019s PTUSD, said in remarks before the committee that \u201cstablecoins are a national imperative for the United States to modernize our financial system and preserve the dollar\u2019s global dominance,\u201d while it will be incumbent on the U.S. to set global standards for financial adoption and interoperability. The U.S. dollar, he said, \u201cmust adapt to an always-on, internet-based, software-driven and AI-enabled global economy.\u201d\u00a0
\nStablecoins, continued Cascarilla, represent the next evolution of money movement: secure, programmable money that moves immediately, 24/7, at near-zero cost.
\n\u201cThis is not science fiction, it exists today thanks to blockchain technology,\u201d he said.\u00a0
\nThe financial system already accommodates various forms of dollars: physical cash in your wallet, bank liabilities in an electronic account or balances held in PayPal or Venmo.
\n\u201cThe private sector is the source of financial innovation, and I see no use for a CBDC at this time,\u201d Cascarilla\u00a0said.
\nPatrick Collison, CEO of Stripe (which acquired stablecoin platform Bridge last year), said that stablecoins are providing \u201creal utility today,\u201d as business clients are finding better ways to manage treasury functions and handle international transfers and \u201cto access U.S. dollars overseas \u2026 stablecoins are creating economic opportunities for American businesses at this moment.”
\nLooking at the regulatory environment, Randall D. Guynn, chairman of the financial institutions group at Davis Polk & Wardwell, testified: \u201cIt makes sense to base the regulatory framework for stablecoins on the framework of the dual banking system.\u201d He said that the STABLE Act\u2019s 100% reserve requirement should make payment stablecoins as secure and safe as bank deposits.\u00a0
\nNoting that most of the use cases with payment stablecoins have been in settlement and trading activities, Carole House, senior fellow, GeoEconomics Center, Atlantic Council, cautioned that regulatory frameworks promoting new use cases must guard against risks and cybersecurity threats.
\n\u201cWe need to have strong AML protections in place,\u201d she told lawmakers.
\nDuring questioning after the testimony, Rep. Frank Lucas, R-Okla., asked if a CBDC might be used by a politicized central bank. Guynn maintained that a CBDC would give \u201cthe Federal Reserve staff a direct window \u2026 into every transaction every person in America makes\u201d and that at least some staff might use that info to serve what they\u2019d deem \u201cworth political goals.\u201d
\nSpeaking generally, Rep. John Rose, R-Tenn., asked what Congress \u201cshould focus on when aiming to modernize the payments world.\u201d
\nCiting stablecoins as an example, Collison said: \u201cPutting in place a shared framework with prudent rules will do a tremendous amount of good. More broadly, on payments, Stripe strongly supports the concept of some sort of federal payments charter. There\u2019s no single shared framework for payments companies like Stripe today \u2026 We think that with access to things like the Fed\u2019s payment system, we can provide better services to businesses and consumers.\u201d\u00a0
\nHe noted that payments are primarily (but not solely) regulated at the state level, \u201cand we don\u2019t think that should go away \u2014 but in addition to that there should also be a federal framework.\u201d
\nAsked about what that framework would look like, Collison said that there are analogues to the a payments charter in other jurisdictions including Europe that would be helpful in the U.S.
\nThe post Stripe, Paxos CEOs Say Payments Ecosystem Needs Stablecoins and Blockchain but Not CBDC appeared first on PYMNTS.com.
\n", "content_text": "Payment stablecoins, blockchain and other digital innovations, including tokenization, will enable more efficient money movement across the globe, while ensuring primacy of the U.S. dollar in transactions and trade, executives and other industry experts told lawmakers Tuesday (March 11).\nDuring testimony and under questioning by representatives of the House Financial Services Committee, witnesses at the nearly four-hour hearing also contended that it is the private sector \u2014 and not a central bank-created CBDC \u2014 that will expand financial services and the benefits of digital dollar options to the world at large. \nChairman Rep. French Hill, R-Ark., said during his opening remarks: \u201cThe evolution of payment stablecoins and their increasing adoption beyond the digital asset ecosystem reflect broader modernization efforts in the U.S. and global payments landscape,\u201d noting that the offerings streamline cross-border payments.\u00a0\u00a0 \nHe stated, too, that a \u201cproperly regulated stablecoin market can strengthen the U.S. dollar\u2019s dominance, modernize our payments infrastructure and promote financial access,\u201d but said later that a CBDC represented a \u201ccompeting vision about the future of digital payments\u201d that would put the central bank in direct competition with the private sector.\nOffering a contrasting view of CBDCs, ranking member Rep. Maxine Waters, D-Calif., said: \u201cI\u2019m deeply concerned that we are considering a bill today to strip the Consumer Financial Protection Bureau of supervision of big tech payment apps \u2026 the Republican resistance to even allow the Fed to study Central Bank Digital Currencies is not only anti-innovation, but is anti-American as it helps China win the digital currency \u2018space race\u2019 and undermines the U.S. dollar as the world\u2019s reserve currency.\u201d\nBlockchain Moves Money Faster \nCaroline Butler, global head of digital assets at BNY, told the committee that \u201cblockchain technology has the potential to make money move smarter and faster,\u201d and said that the overall payments ecosystem, and particularly stablecoins, would benefit from federal legislation that \u201cadvances clarity and consistency\u201d no matter the issuer or regulatory regime. \nHer written testimony added that tokenization will \u201cresult in greater speed, resiliency and operational efficiencies\u201d against a backdrop where the digital assets ecosystem would also include tokenized deposits. \nPaxos CEO: Private Sector Leads Innovation, No Need for CBDC \nCharles Cascarilla, CEO of Paxos, which issues stablecoins including PayPal\u2019s PTUSD, said in remarks before the committee that \u201cstablecoins are a national imperative for the United States to modernize our financial system and preserve the dollar\u2019s global dominance,\u201d while it will be incumbent on the U.S. to set global standards for financial adoption and interoperability. The U.S. dollar, he said, \u201cmust adapt to an always-on, internet-based, software-driven and AI-enabled global economy.\u201d\u00a0\nStablecoins, continued Cascarilla, represent the next evolution of money movement: secure, programmable money that moves immediately, 24/7, at near-zero cost. \n\u201cThis is not science fiction, it exists today thanks to blockchain technology,\u201d he said.\u00a0\nThe financial system already accommodates various forms of dollars: physical cash in your wallet, bank liabilities in an electronic account or balances held in PayPal or Venmo. \n\u201cThe private sector is the source of financial innovation, and I see no use for a CBDC at this time,\u201d Cascarilla\u00a0said.\nStripe\u2019s CEO Sees \u2018Utility\u2019 in Stablecoins \nPatrick Collison, CEO of Stripe (which acquired stablecoin platform Bridge last year), said that stablecoins are providing \u201creal utility today,\u201d as business clients are finding better ways to manage treasury functions and handle international transfers and \u201cto access U.S. dollars overseas \u2026 stablecoins are creating economic opportunities for American businesses at this moment.” \nLooking at the regulatory environment, Randall D. Guynn, chairman of the financial institutions group at Davis Polk & Wardwell, testified: \u201cIt makes sense to base the regulatory framework for stablecoins on the framework of the dual banking system.\u201d He said that the STABLE Act\u2019s 100% reserve requirement should make payment stablecoins as secure and safe as bank deposits.\u00a0\nNoting that most of the use cases with payment stablecoins have been in settlement and trading activities, Carole House, senior fellow, GeoEconomics Center, Atlantic Council, cautioned that regulatory frameworks promoting new use cases must guard against risks and cybersecurity threats. \n\u201cWe need to have strong AML protections in place,\u201d she told lawmakers. \nDuring questioning after the testimony, Rep. Frank Lucas, R-Okla., asked if a CBDC might be used by a politicized central bank. Guynn maintained that a CBDC would give \u201cthe Federal Reserve staff a direct window \u2026 into every transaction every person in America makes\u201d and that at least some staff might use that info to serve what they\u2019d deem \u201cworth political goals.\u201d\nLooking Toward a Payments Framework \nSpeaking generally, Rep. John Rose, R-Tenn., asked what Congress \u201cshould focus on when aiming to modernize the payments world.\u201d \nCiting stablecoins as an example, Collison said: \u201cPutting in place a shared framework with prudent rules will do a tremendous amount of good. More broadly, on payments, Stripe strongly supports the concept of some sort of federal payments charter. There\u2019s no single shared framework for payments companies like Stripe today \u2026 We think that with access to things like the Fed\u2019s payment system, we can provide better services to businesses and consumers.\u201d\u00a0 \nHe noted that payments are primarily (but not solely) regulated at the state level, \u201cand we don\u2019t think that should go away \u2014 but in addition to that there should also be a federal framework.\u201d \nAsked about what that framework would look like, Collison said that there are analogues to the a payments charter in other jurisdictions including Europe that would be helpful in the U.S. \nThe post Stripe, Paxos CEOs Say Payments Ecosystem Needs Stablecoins and Blockchain but Not CBDC appeared first on PYMNTS.com.", "date_published": "2025-03-11T18:58:05-04:00", "date_modified": "2025-03-11T23:20:30-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/House-Financial-Services-Committee-Stablecoins.jpg", "tags": [ "Atlantic Council", "Blockchain", "BNY", "Carole House", "Caroline Butler", "CBDC", "Central Bank Digital Currency", "Charles Cascarilla", "Cryptocurrency", "Davis Polk & Wardwell", "digital assets", "digital transformation", "French Hill", "House Financial Services Committee", "Legislation", "Maxine Waters", "News", "Patrick Collison", "paxos", "Payment Methods", "politics", "PYMNTS News", "Randall D. Guynn", "regulations", "stablecoins", "Stripe", "tokenization", "Web3" ] }, { "id": "https://www.pymnts.com/?p=2503214", "url": "https://www.pymnts.com/blockchain/2025/regulations-become-crucial-as-stablecoins-push-payments-frontier/", "title": "Regulations Become Crucial as Stablecoins Push Payments Frontier", "content_html": "The stablecoin market is positioning itself as at the forefront of payments innovation, and that forefront is at an inflection point.
\nOn Tuesday (Feb. 25), Bank of America\u2019s CEO Brian Moynihan said in an interview that the bank would \u201cgo into\u201d stablecoins if regulation were passed in the U.S., signaling a potential strategic pivot by one of the nation\u2019s largest banks toward digital assets. Bank of America already holds over 80 blockchain-related patents, making it a banking leader in terms of blockchain IP.
\nBut the second part of Moynihan\u2019s commentary was crucial: there exist a number of issues that need to be resolved from a regulation standpoint for banks to be comfortable with embracing stablecoins and other on-chain \u2014\u00a0particularly public chain \u2014 solutions.
\nOn Wednesday (Feb. 26), stablecoin regulation took center stage during the U.S. Senate Committee on Banking, Housing, and Urban Affairs subcommittee hearing titled \u201cExploring Bipartisan Legislative Frameworks for Digital Assets.\u201d
\n\u201cWe have seen stablecoins being used as fast and efficient tools for corporate treasury management,\u201d\u00a0Jai Massari, the co-founder and chief legal officer at Lightspark, said during her witness testimony at the hearing. \u201cWe are starting to see how stablecoins can lower payment frictions and transaction costs, spur new kinds of payments, and, crucially, unlock new kinds of economic activity. We expect access to instant, secure, interoperable communications like email and messaging globally; we should demand the same from payments.\u201d
\n\u201cFor stablecoins to support more mainstream payments use cases, users must be able to think of stablecoins as digital cash. This requires users having confidence that stablecoins are protected by a strong legal framework and operational infrastructure,\u201d Massari added.
\nThis is as true for banks as it is for consumers.
\nRead more: 5 Blockchain Projects the World\u2019s Biggest Banks Are Behind
\nStablecoins, which are digital assets pegged to stable fiat currencies, offer the benefits of cryptocurrency \u2014 such as fast transactions and borderless transferability \u2014 but without the volatility. However, until now, regulatory uncertainty has hindered their adoption, particularly among institutional use cases.
\nRisks for security-critical sectors like financial services remain despite marketplace advances.
\nAccording to data from Chainalysis, stablecoins are involved in 63% of illicit crypto transactions, by far the most popular digital asset, having taken the top place from bitcoin in recent years as the tool of choice for criminal activities, including laundering stolen funds and evading sanctions. The 2025 crypto crime report data excludes revenue from non-crypto native crime such as drug trafficking or money laundering, where crypto could be used as a means of payment.
\n2024 was a landmark year for on-chain crime, with illicit cryptocurrency transactions likely exceeding $51 billion. On Monday (Feb. 24), a judge fined the operator of the OKX cryptocurrency exchange more than $504 million for breaking anti-money laundering (AML) laws. As the payments industry continues to innovate, with cryptocurrencies playing an increasingly central role, balancing innovation with security is critical.
\nThat\u2019s because any maturation of the stablecoin market is likely to be one where compliance and transparency are as important as technology and innovation. This is what could drive continued adoption among banks, corporations and governments.
\nRead more: What a B2B Stablecoin Strategy Looks Like
\nThe interest from traditional banking players like Bank of America potentially signals not just validation of stablecoin technology but also a strategic shift where banks may eventually use stablecoins for internal liquidity, cross-border transactions and even consumer-facing products.
\nOther stakeholders within the financial services space are also laying claim to stablecoin\u2019s white space opportunity. PayPal Holding\u2019s senior management laid out a strategy at its annual Investor Day on Tuesday (Feb. 25) and\u00a0included crypto in its \u201cPayPal 2.0\u201d vision.
\nThe company plans to integrate its PYUSD stablecoin into more of its products this year, including as an option for its more than 20 million small- to medium-sized merchants to pay their vendors, with a focus on cross-border B2B transactions \u2014 a market plagued by high fees, slow settlement times and limited transparency.
\nFor businesses with international operations, this development is particularly compelling. Multinational corporations often face the challenge of managing cash flow across different currencies and jurisdictions. A stablecoin could serve as a bridge asset, something PYMNTS explored at the end of last year with Ran Goldi, senior vice president, payments and network at Fireblocks,\u00a0and\u00a0Nikola Plecas, head of commercialization,\u00a0Visa Crypto.
\nThe post Regulations Become Crucial as Stablecoins Push Payments Frontier appeared first on PYMNTS.com.
\n", "content_text": "The stablecoin market is positioning itself as at the forefront of payments innovation, and that forefront is at an inflection point.\nOn Tuesday (Feb. 25), Bank of America\u2019s CEO Brian Moynihan said in an interview that the bank would \u201cgo into\u201d stablecoins if regulation were passed in the U.S., signaling a potential strategic pivot by one of the nation\u2019s largest banks toward digital assets. Bank of America already holds over 80 blockchain-related patents, making it a banking leader in terms of blockchain IP.\nBut the second part of Moynihan\u2019s commentary was crucial: there exist a number of issues that need to be resolved from a regulation standpoint for banks to be comfortable with embracing stablecoins and other on-chain \u2014\u00a0particularly public chain \u2014 solutions.\nOn Wednesday (Feb. 26), stablecoin regulation took center stage during the U.S. Senate Committee on Banking, Housing, and Urban Affairs subcommittee hearing titled \u201cExploring Bipartisan Legislative Frameworks for Digital Assets.\u201d\n\u201cWe have seen stablecoins being used as fast and efficient tools for corporate treasury management,\u201d\u00a0Jai Massari, the co-founder and chief legal officer at Lightspark, said during her witness testimony at the hearing. \u201cWe are starting to see how stablecoins can lower payment frictions and transaction costs, spur new kinds of payments, and, crucially, unlock new kinds of economic activity. We expect access to instant, secure, interoperable communications like email and messaging globally; we should demand the same from payments.\u201d\n\u201cFor stablecoins to support more mainstream payments use cases, users must be able to think of stablecoins as digital cash. This requires users having confidence that stablecoins are protected by a strong legal framework and operational infrastructure,\u201d Massari added.\nThis is as true for banks as it is for consumers.\nRead more: 5 Blockchain Projects the World\u2019s Biggest Banks Are Behind\nWhy Regulated Stablecoins Matter\nStablecoins, which are digital assets pegged to stable fiat currencies, offer the benefits of cryptocurrency \u2014 such as fast transactions and borderless transferability \u2014 but without the volatility. However, until now, regulatory uncertainty has hindered their adoption, particularly among institutional use cases.\nRisks for security-critical sectors like financial services remain despite marketplace advances.\nAccording to data from Chainalysis, stablecoins are involved in 63% of illicit crypto transactions, by far the most popular digital asset, having taken the top place from bitcoin in recent years as the tool of choice for criminal activities, including laundering stolen funds and evading sanctions. The 2025 crypto crime report data excludes revenue from non-crypto native crime such as drug trafficking or money laundering, where crypto could be used as a means of payment.\n2024 was a landmark year for on-chain crime, with illicit cryptocurrency transactions likely exceeding $51 billion. On Monday (Feb. 24), a judge fined the operator of the OKX cryptocurrency exchange more than $504 million for breaking anti-money laundering (AML) laws. As the payments industry continues to innovate, with cryptocurrencies playing an increasingly central role, balancing innovation with security is critical.\nThat\u2019s because any maturation of the stablecoin market is likely to be one where compliance and transparency are as important as technology and innovation. This is what could drive continued adoption among banks, corporations and governments.\nRead more: What a B2B Stablecoin Strategy Looks Like\nStaying Smart About the Road Ahead\nThe interest from traditional banking players like Bank of America potentially signals not just validation of stablecoin technology but also a strategic shift where banks may eventually use stablecoins for internal liquidity, cross-border transactions and even consumer-facing products.\nOther stakeholders within the financial services space are also laying claim to stablecoin\u2019s white space opportunity. PayPal Holding\u2019s senior management laid out a strategy at its annual Investor Day on Tuesday (Feb. 25) and\u00a0included crypto in its \u201cPayPal 2.0\u201d vision.\nThe company plans to integrate its PYUSD stablecoin into more of its products this year, including as an option for its more than 20 million small- to medium-sized merchants to pay their vendors, with a focus on cross-border B2B transactions \u2014 a market plagued by high fees, slow settlement times and limited transparency.\nFor businesses with international operations, this development is particularly compelling. Multinational corporations often face the challenge of managing cash flow across different currencies and jurisdictions. A stablecoin could serve as a bridge asset, something PYMNTS explored at the end of last year with Ran Goldi, senior vice president, payments and network at Fireblocks,\u00a0and\u00a0Nikola Plecas, head of commercialization,\u00a0Visa Crypto.\nThe post Regulations Become Crucial as Stablecoins Push Payments Frontier appeared first on PYMNTS.com.", "date_published": "2025-02-27T17:46:40-05:00", "date_modified": "2025-02-28T19:50:48-05:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/02/stablecoin-regulations-digital-assets.jpg", "tags": [ "AML", "Anti-Money Laundering", "Bank of America", "crypto", "Crypto Regulations", "Cryptocurrency", "digital assets", "digital currencies", "News", "Payment Methods", "PayPal", "PYMNTS News", "regulations", "stablecoins", "Web3", "Blockchain" ] } ] }