#fintech

Paxos, a fintech company focused on building blockchain and digital asset infrastructure, has launched a new platform designed for stablecoin transactions.

Tether, the issuer of the USDT stablecoin, is set to invest another $1 billion over the next year in projects related to alternative financial infrastructure, artificial intelligence, and biotechnology.

The stablecoin leader has entered into a Memorandum of Understanding (MOU) with the National Agency of Perspective Projects (NAPP) of Uzbekistan, the body charged with overseeing the growth and regulation of the crypto industry.

Today, the Federal Reserve Bank of Philadelphia held its seventh annual fintech conference. A significant takeaway was Deputy Chair Michael Barr's pronounced concerns about the risks stablecoins, devoid of federal oversight, might pose to financial stability. On the topic of CBDCs, Barr remarked that decisions remain on the distant horizon.

The VanEck Ventures fund will invest $30 million in cryptocurrency, fintech, and artificial intelligence projects. The focus will be on pre-seed and seed-stage startups, particularly those developing innovative payment systems.

Fintech company Imperium Markets has called on the Australian government to accelerate the tokenization of debt instruments to stay competitive in today’s market. The company has long been working with the government on a pilot project employing distributed ledger technology for tokenization.

KPMG's 2023 report reveals that cryptocurrency and blockchain have become the frontrunners in Canada's fintech sector, outpacing other areas despite a general decline in transaction volumes and deal values.

At the Intersekt 2023 fintech conference, top executives from Australian crypto firms addressed the growing concern of fraud in the sector. Their consensus? Educating users about scammers' tactics can drastically cut down on fraud incidents. Instead of simply responding to issues, the focus should be on proactive prevention. The discussion also pointed out that the responsibility for curbing crypto scams doesn't just fall on the crypto industry — it's shared by banks, social media platforms, and telecom companies as well.