Ripple’s fundraising arm Xpring announced in a blog post on April 17 that it has joined several companies to invest in Bolt Labs, a startup aiming to deliver “instant, cheap and private payments” by adding a layer of anonymity to existing networks. Zooko Wilcox, CEO of the Electric Coin Company — the firm behind Zcash — confirmed to Forbes that his company also contributed to Bolt Labs’ seed round. Wilcox has also been appointed as an advisor to the startup. In a blog post setting out its vision, Bolt Labs said it wants to create “scalable, fast and private payment …

Top Stories This Week NYT Reporter: Facebook Seeking $1 Billion in Venture Capital for Crypto Project According to a tweet by New York Times (NYT) tech reporter Nathaniel Popper, Facebook is reportedly looking to various venture capital firms to develop its digital token that has been previously reported on. Popper, citing unnamed sources familiar with the matter, said that Facebook is seeking $1 billion to develop its cryptocurrency project, which itself has not been publicly confirmed by the company. The Times reporter also noted that the project involves a stablecoin that would be pegged to a basket of foreign currencies …

Bitcoin (BTC) should usurp current global payment systems within the decade, a new report from software startup DataLight concluded on April 2. In a report on transactions on the Bitcoin network versus those with Visa, MasterCard and PayPal, the company made the prediction that if Bitcoin’s current rate of network growth continues, it will beat out competition from market incumbents. “In just 10 years, Bitcoin has managed to compete with the leaders of the payment system industry. Bitcoin’s development is occurring exponentially,” the report’s conclusion reads. It continues: “If it maintains this pace, in another 10 years, it will surpass …

Top Stories This Week Six Global Banks Sign Up to Issue Stablecoins on IBM’s Now-Live Blockchain Network This week, six international banks signed letters of intent to issue their own stablecoins — which will be backed by their national fiat currencies — on IBM’s now-live blockchain-powered payments network, “World Wire.” According to the joint announcement by IBM and Stellar, the World Wire has gone live with over 44 banks on its service, supporting 47 currencies in 72 countries. The IBM project was launched with Stellar in September 2018, and plans to expand the blockchain-powered settlement network to further assets. The …

American payment services firm Visa has published a crypto and blockchain-related job opening on San Francisco-based recruiting software firm SmartRecruiters on March 6. Global financial services corporation Visa is seeking blockchain talent for the position of Technical Product Manager at Visa Fintech in their Palo Alto office. The person will be responsible for the execution of Visa’s product strategy within a cryptocurrency ecosystem, and will be required to manage the roadmap for crypto-related opportunities. According to the job description, the person should be possess a functional knowledge of the crypto industry and major players involved, as well as in-depth knowledge …

A payments and cryptocurrency platform offering a Visa card that can be used anywhere has unveiled a range of cashback benefits designed to attract modern consumers and frequent travelers. Crypto.com says it now offers free Netflix and Spotify subscriptions to its MCO Visa Card holders. Users who pay for their subscription with the MCO Visa Card can receive a 100 percent rebate on the cost of their plan, dependent on the type of card they have signed up for. The platform is also offering 10 percent rebate on Expedia bookings to customers with the top two tiers of its five-tier …

Morgan Creek Digital founder Anthony Pompliano has suggested that major United States retailer Kroger should deploy the Lightning Network in its stores, following the brand’s decision to stop accepting Visa at some locations. According to Pompliano’s tweet from Mar. 3, the negotiations have already started. On Friday, Mar. 1, Kroger officially announced that its Smith's Food & Drug stores will not accept Visa cards starting Apr. 3 due to the high fees that company imposes on major retailers. "Visa has been misusing its position and charging retailers excessive fees for a long time," Kroger's chief financial officer Mike Schlotman said, …

American payment services giant Visa Inc. is acquiring Ripple partner Earthport Plc, a payment network for cross-border transactions, Reuters U.K. reported Dec. 27. Founded in 1997, London-based Earthport is a financial services firm that offers cross-border payments service to banks and financial institutions. Earthport is a partner of tech company Ripple, where the partnership is aimed at integrating the Ripple protocol into the firm’s existing payment network to improve international transactions. Per Reuters, the acquisition will be made for £198 million ($251 million), or 30 pence ($0.38) per each Earthport share, which exceeds the stock’s Monday closing price of 7.45 …

A company that enables visitors to buy Bitcoin using more than 300 payment methods has reported growth in the number of transactions being completed using US dollars – and says it is determined to dismantle the issues people have in earning and transferring their money freely. Paxful was launched in 2015, and has the goal of making it simple to buy cryptocurrency – a boon for people who haven’t done so before. Cash deposits and bank transfers can be used on its platform – with the company promising to deliver Bitcoin in less than an hour at an “awesome price.” …

A blockchain/DAG hybrid platform has unveiled bold plans to entice businesses to use its technology – and says its “unprecedented speed, scalability and security” has the potential to benefit enterprises that handle a high frequency of transactions. BEXAM initially intended to serve the cryptocurrency market as a hybrid exchange which used a unique algorithm to deliver the best features of centralized and decentralized platforms alike. However, the startup has decided to refocus its proposition after receiving glowing feedback about its technology – moving away from the congested exchanges sector to capitalize on its infrastructure, which delivers block times of 0.2 …

On November 16, the Hong Kong-based blockchain startup Crypto.com announced that it is planning to issue its prepaid card, MCO Visa Card, in the United States. The company says the card has been approved for launch in partnership with its local bank partner Metropolitan Commercial Bank. Its metal cards promise up to two percent token rewards with its native MCO token, airport lounge access (select cards), tap-and-pay functionality, as well as competitive interbank rates. Convert crypto to fiat with a few taps According to Crypto.com, users of the MCO Visa Card can easily convert their crypto to fiat using the …

CEO of global payment giant Visa Al Kelly stated that cryptocurrency does not pose a challenge to the company’s dominance in the payment sphere in the “short to medium-term,” in an interview on CNBC's Mad Money Oct. 25. When asked if “crypto [is] a real challenge to Visa’s hegemony in this business,” Kelly told Mad Money host Jim Cramer that it was “certainly not in the short to medium-term in any way.” According to Kelly, crypto needs to “move from being a commodity to really being a payment instrument” before it can become a real competitor to the conventional financial …