TrueLayer is continuing its push into digital assets via the partnership and hinted at its interest in developing a GBP-backed stablecoin.
Fintech unicorn TrueLayer is partnering with Coinbase to let UK users top up their accounts via their mobile banking app.Fintech unicorn TrueLayer is partnering with Coinbase to enable UK users to top up their accounts via their mobile banking app. This is part of a broader push into digital assets as the open-banking company eyes adding a stablecoin product to its crypto-focused offering.
"It's cost-effective for merchants. Any company that deals with processing crypto assets pays a big premium to card networks," said founder Francesco Simoneschi in an interview with The Block, adding:"Open banking removes that fee structure for merchants." "We try to do our own diligence as best as we can," he said,"but I think there are some limits for every operator in this market to make those sorts of assessments"The great British stablecoin?
Simoneschi sees the lack of prevalence of a British pound-denominated stablecoin as a problem the company would like to set out and solve. He hinted that TrueLayer is interested in developing a GBP stablecoin, saying that other regions apart from the U.S. should have the option of diversifying their currency.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD Forex Signal: Steady as Brainard Points to Fed PivotThe GBP/USD rally stalled ahead of a pivotal week for sterling and UK markets.
Read more »
FTX downfall was a turning point for citizen journalism: Coinbase CEOThe CEO of cryptocurrency exchange Coinbase, Brian Armstrong, accused the New York Times of writing “puff pieces” on former FTX CEO Sam Bankman-Fried and suggests the FTX story has been a turning point for citizen journalism as it has mostly played out on Twitter.
Read more »
Coinbase: FTX’s Collapse Will Likely Lead to an Extended Crypto Winter.coinbase says turbulence in the cryptocurrency market following the collapse of FTX_Official and the lack of large buyers has left the sector vulnerable, potentially extending what was an already long crypto winter. By willcanny99
Read more »
What FTX's Collapse Means for CoinbaseShares of Coinbase skyrocketed over the past week since rival crypto exchange FTX filed for bankruptcy. Cathie Wood's ARK Investment Management ETF bought 238,000 more shares worth roughly $12.1 million. Oppenheimer Senior Analyst Owen Lau discusses the FTX collapse and whether it could be a positive development for Coinbase.
Read more »
Coinbase CFO says full contagion impact of FTX collapse still to show - WSJThe full extent of the fallout on the crypto industry from the collapse of Sam Bankman-Fried's FTX was yet to come out, Coinbase Global Inc Chief Financial Officer Alesia Haas told the Wall Street Journal on Wednesday.
Read more »
GBP does not have to rally a lot more on a credible budget – INGToday's FX highlight will be the UK's Autumn Statement. Given that the UK's bond market has largely regained its composure from the sell-off in Septem
Read more »