Proton, a new delegated proof-of-stake blockchain from crypto payment solution Metal Pay, allows digital asset and fund transfers across multiple channels. “It’s a Blockchain that’s integrated into your bank,” Metal Pay CEO Marshall Hayner told Cointelegraph. “It’s a universal network for payments.” As long as payment platforms integrate the Proton blockchain, customers can send payments across non-native platforms, according to Hayner. Proton allows compatibility across platforms At present, aside from Metal Pay, payment platforms often run as siloed entities, facing difficulties when users want to interact across services. If, for…
Tag: Bank
European Central Bank Calls for Proactive Stablecoin Regulation
In a recent in-depth report on global stablecoins, the European Central Bank, or ECB, pushed for clear regulatory parameters for stablecoins, citing risks as well as gaps in current regulations. “In order to reap the potential benefits of global stablecoins, a robust regulatory framework needs to be put in place in order to address these risks before such arrangements are allowed to operate,” the ECB wrote in its May 5 report. The deep dive sees potential, but not without risks The ECB’s report noted several benefits around international stablecoins, including…
Bank of Finland Releases Scathing Crypto Report, Calls Digital Currency a “Fallacy”
The Bank of Finland released a paper on June 21 titled “The Great Illusion of Cryptocurrencies,” explaining why they think the concept of a digital currency is a “fallacy.” The paper, written by Aleksi Grym, Adviser on Digitalization and Head of the Digital Central Bank process in the Financial Stability and Statistics Department. It aims to explain how cryptocurrencies’ fundamental nature “shows how poorly understood the concept of money itself still is today” and how the Internet and social media have “muddled our sense of fact and fiction.” In Grym’s…