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Here are five of the top news from the world of finance and technology this week.
The Council of the European Union (EU) has announced that Brock has reached a “provisional agreement” on a new breakthrough regulatory framework for cryptocurrencies.
The “Cryptocurrency Market” (MiCA) proposal is aimed at “unsubstantiated crypto asset issuers, so-called” stablecoins “, and exchanges and wallets where crypto assets are held”.
The council says the new regulations will help protect investors, maintain financial stability, and at the same time enable continued innovation within the crypto sector.
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Meta will end the pilot of the Digital Wallet Project Novi and close all accounts on September 1, 2022.
Novi Pilot Ends September 1, 2022
The notification on the Novi website states: “WhatsApp Novi apps and Novi will no longer be available after September 1, 2022. After piloting, you will not be able to log in and access your Novi account.
“Please also note that you will not be able to add money to your account after July 21, 2022.”
The company requires users to withdraw Novi’s balance “as soon as possible” before September 1. If you have funds left in your account after this date, it will be added as “We will try to transfer your balance to the bank account or debit card you added to Novi”.
Novi was announced in 2020 by former head David Marcus, who left Meta last December, and was originally designed as a digital wallet to support the transmission and retention of Meta’s proposed Libra (later Diem) digital currency. rice field.
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New Payments Platform (NPP) Australia launches PayTo, a digital solution that enables merchants and businesses to initiate real-time payments from their customers’ bank accounts.
NPP Australia, an infrastructure company that allows customers from various banks to make and receive real-time payments, says it is working with the financial services industry to develop PayTo services.
According to the company, PayTo is a “fundamental function” that enables a wide range of use cases and provides a “starting point for future innovation.”
PayTo replaces traditional direct debit with enhanced recurring or subscription payments, improved payroll and payable capabilities, in-app and e-commerce utilities, reduced employee payment times, and QR It is built to enhance code payment options.
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UK-based FinTech Revolut has partnered with Stripe to support payments in the UK and Europe and help expand into new markets planned.
Revolut Partner Stripe
Founded in 2015, Revolut was launched in the UK, providing money transfer and exchange services, and currently offers a variety of financial products such as accounts, insurance, transactions and claims.
Revolut will soon be available in Mexico and Brazil, leveraging Stripe’s infrastructure and international presence to enter these two markets and offer local payment options.
David Tirado, Vice President of Business Development at Revolut, said the two companies “share a common vision” and work together “in multiple areas.”
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Voyager Digital, a US-based cryptocurrency lender, filed for bankruptcy protection just days after suspending all transactions, deposits and withdrawals on the platform.
The company said in a statement to the US Bankruptcy Court in Southern New York that it “filed a voluntary petition for the protection of Chapter 11 to carry out restructuring.”
“This comprehensive reorganization is the best way to protect assets on the platform and maximize the value of all stakeholders, including customers,” said Stephen Ehrlich, CEO of Voyager. ..
“The process in Chapter 11 provides an efficient and equitable mechanism for maximizing recovery.”
The company says restructuring plans that require changes and court approval will help regain access to accounts and return value to customers.
