US lawmakers ask Fed about Digital Currency, XRP aims to become Internet of Money and biggest South Korean card company adopts blockchain
Here is your daily overview of important, interesting and market moving crypto news.
US lawmakers ask Federal Reserve to consider national Digital Currency
In a Sept. 30 letter to Federal Reserve Board Chairman Jerome Powell, representatives French Hill and Bill Foster state:
“The Bank for International Settlements conducted a study that found that over 40 countries around the world have currently developed or are looking into developing a digital currency.”
The U.S. representatives outline their concerns about risks to the U.S. dollar if another country creates a widely used cryptocurrency and suggest the U.S. will look into creating one too.
Ripple aims to make XRP the Internet of Money
Xpring, an initiative by Ripple, is launching a platform to provide tools, services and programs for developers to easily build applications with payment gateways using fiat and crypto, particularly XRP.
“Xpring Platform for developers is designed to remove the pain and the messiness of integrating money into apps,” said Beard, the Vice President of Xpring.
Shinhan Card to use blockchain for credit card payments
Today it was reported that South Korea’s biggest card company, Shinhan Card, will launch a blockchain-based payment system.
The firm, part of Shinhan Financial group an sister company to Shinhan Bank, claims to be the first to use the technology for credit card transactions.
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