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MasterCard is a financial services organisation which processes the transactions carried out on credit cards operated by a range of banks and other lenders.

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Fintech Firm Plaid Gets A $2.6B Valuation With Strategic Investment From Mastercard And Visa

Plaid, a decentralized finance firm, announced on their official blog Visa and MasterCard have made a strategic investment in the blockchain-based company. The US-based company promises users a “future of digital financial services” by providing a platform for developers to create an accessible financial ecosystem for all. MasterCard and Visa invest in Plaid In a […]
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Mastercard, Visa invest in crypto-serving fintech unicorn Plaid

Payments giants Mastercard and Visa have invested an undisclosed sum in Plaid, a crypto-serving fintech unicorn that recently hit a valuation of over $2.5 billion. Zach Perret, co-founder and CEO of Plaid, announced the news in a blog post on Monday, saying that the firm is well on its way to create a consumer-first financial ecosystem that will “significantly improve the way people manage their financial lives.” Plaid currently helps users to connect their bank accounts to an app, and serves to crypto clients including exchange Coinbase and wallet provider Abra, among others such as American Express and Venmo, PayPal's mobile payment service. This year, Plaid also debuted the list of LinkedIn’s top 50 U.S. startups, ranking at 49. The startup has raised over $350 million in venture capital funding to date.
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Visa, Mastercard Made Strategic Investments into Fintech Industry Darling Plaid

Coinspeaker Visa, Mastercard Made Strategic Investments into Fintech Industry Darling PlaidFintech payments company Plaid has indicated that both Mastercard and Visa are investors. Plaid Indicated this yesterday while letting the cat out of the bag about its series C funding which occurred in December 2018. The amounts invested by either payments organization has not been disclosed. At the last round of funding the company has been valued to be at least worth $2.65 Billion. The company uses Application Programming Interfaces (APIs) to link the banking system and bank accounts within the United States to applications such as Veem and others. So far, it has claimed to have an uneven 80% share of its market.Plaid seems to have made itself to become a cornerstone in the US financial ecosystem. It seems that the startup has quietly become the financial superpower that other fintech startups depend on to get the basic stuff done.From the documentation assistants on taxes to remittance services and even artificial intelligence services which predict and assist in several aspects of the financial markets, Plaid’s API has been doing quite a lot lately. From Venmo which is a fee-free remittance service to cryptocurrency exchange Coinbase and Robinhood which is a no-commission stock trading platform, they seem to have a solution to everyone’s’ problems and it seems that they are doing it quite nicely too.A Question of Too Much PowerWhile it may sound far-fetched, this brings to mind the anti-trust mindset that the United States government has. Faced with multiple companies which already dominate several areas of the technology space (Google with search engines, Microsoft with operating systems and so forth) this brings yet another monopoly to the table of the technology giants only this time they are conquering the only place no one else has: the banking system.When one company handles more than 80% of the various new kinds of transactions going through the world’s most powerful economy, it presents the problems that big data companies are all facing at the same time: too much data which in itself is too much power.How Plaid Will Work with Mastercard and VisaAs a Business-to-Business service, it makes strategic sense that the two largest competitors in the field of payment processing will produce the kind synergy that fosters innovation. While there is a standing commitment to making a profit, it places the financial system at a strategic advantage in term of the kinds of solutions that will be available to the public.In a statement Bill Sheedy who is the Vice-President of Visa’s strategy group told Fortune Magazine:“We’re excited about working with [Plaid] to enhance payment experiences globally,” Sheedy said. “The alignment with Plaid’s target customers, and what they’re doing in terms of building value-added services on top of financial data, seems like a strong strategic move [for Visa].”Similarly, Sherri Hammond who is Mastercard’s Executive Vice President of partnerships also said:“Mastercard, meanwhile, is approaching its collaboration with Plaid as an opportunity to remain in step with a financial services ecosystem increasingly driven by “new products that enhance the everyday interaction and experience [of consumers].”Mastercard has already been known for a whole lot of movement in the fintech space. So, this move was natural and will give greater room for innovation. Visa, is catching up fast as well.What is Next for Plaid? Well, as the organization seems to be attracting the right kind so f investors and partners, we should expect another friendly technology giant with hands in almost every pie money-wise. If this is is a bad thing it is too early to tell but it is already the new society we live in. The old society is dead. Long live the new society.Visa, Mastercard Made Strategic Investments into Fintech Industry Darling Plaid
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Mixed Views as MasterCard Goes Blockchain

It is not the first time a major financial corporation will enter the blockchain space in a similar fashion but is Mastercard’s foray into the space going to be anything different? The payment service provider announced a strategic partnership with R3 enterprise blockchain software provider to bring blockchain-enabled payments to businesses across the globe. The idea is to focus on connecting global faster payments infrastructures, schemes and banks supported by a clearing and settlement network operated by Mastercard. The new platform, whose announcement has attracted expert takes from blockchain industry leaders, is to help develop and pilot a new blockchain-enabled cross-border payments solution to tackle industry issues like costly payment processing, liquidity management and a paucity of standardization and connectivity between banks and domestic clearing systems. While an argument could be made that investments like this are driven by a need to either protect against disruptive change or improve on models to tackle a sector of high growth, the co-founder of Cypherium enterprise-ready blockchain solution says Mastercard’s blockchain interest is not new. Rather, Sky Guo, submits that the difficulty lies in “distinguishing institutional recognition of this valuable technology from corporate appropriation.” “On one hand, we can’t survive as new financial systems without meaningful recognition from and conversation with legacy systems, such as MasterCard and other centralized goliaths,” Guo says. “On the other hand, these technologies — especially the public blockchains — pose a very real threat to the business models of a number of these companies, and in order to quell their disruption, giants like MasterCard want to absorb crypto projects on their own terms.” However, he hints that there may be little need for the kind of private distributed ledger technologies JPMorgan, Facebook and, now, MasterCard propose if blockchains scale to their full extent. He adds: “The true killer Dapp will make obsolete these private networks; it will be faster and cheaper to use while returning financial economy to its users; that is the promise of Bitcoin that so many new chains are trying to fulfill. So one can see that their motivation in entering the space is, at least partially, guided by their need to street the conversation, to dictate the way in which blockchain technology enters the world. For now, though, blockchain must support and participate in these projects.” For the CEO of Findora, Charles Lu, Mastercard’s proposed move to develop a blockchain-based cross-border payments platform is a welcome move – though it is not clear yet whether the proposed initiatives will go beyond proof-of-concept. He believes tech giants like Mastercard “play an influential role in encouraging the acceptance of cutting-edge technologies”. Hence, the news is symbolic of Mastercard’s willingness “to challenge the status quo and seek solutions to improve current payment systems”. He says: “Change is on the horizon and, as technology continues to evolve, we are witnessing cryptographic breakthroughs including zero-knowledge proofs, multiparty computation, and scalability solutions — all of which have the potential to shake up the financial industry as we know it.”
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IOTA Introduces Permanode Tech For Long-Term Data-Storage

The IOTA Foundation is taking a major step towards ensuring permanency in the Tangle, announcing a “Permanode” technology called Chronicle. IOTA is designed as a protocol for the permissionless and frictionless exchange of value between machines and humans, with the Tangle acting as a distributed ledger. Using the new permanode technology, users will be able to securely store data, where it will be  “verifiable to third parties for free.”   While some data doesn’t need to be stored for years, decades, or lifetimes, certain sorts of data require greater permanence. “For example,” the IOTA blog explains, “financial data must be stored for 10 years in some cases, and identity data needs to be kept for the lifetime of the identity.”  The IOTA Foundation describes the new permanode technology as a “crucial building block” for enabling these types of use-cases. The Foundation describes Chronicle as the “official permanode solution,” enabling easy access to the Tangle’s entire history, which is stored indefinitely via the technology.  The system is described as a “distributed fault-tolerant permanode that scales out and up…”     source: IOTA Foundation   Chronicle has some unique and interesting use-cases for community members and businesses, such as offering “query as a service.” Node owners might find a new stream of revenue charging IOTA tokens to access Tangle data. Further services could be added through “Multiplex networks,” offering “microservices… that can communicate with public and private dataset(s) under different policies.”  Chronicle is due for a third-party audit to ensure it is ‘water-tight’ before it is released to the public. The IOTA Foundation invites community members to take part in the work, with grants available for “developing and expanding the notion of permanodes.”   source: CoinMarketCap   IOTA joined the altcoin surge today, enjoying a healthy bump of more than 14% in value against USD and BTC over the past 24 hours. The token has enjoyed a positive week, with over 10% growth in USD price over the past seven days.   The post IOTA Introduces Permanode Tech For Long-Term Data-Storage appeared first on Crypto Briefing.
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HUGE Altcoin Updates! Stellar, Binance US, Tomochain, Digibyte, NEO, Monero, Bitcoin Bakkt

Binance Adds BNB to Binance US https://finance.yahoo.com/news/binance-us-adding-7th-coin-102155751.html A brief history of the world of crypto. Plus, all of the latest news and updates from the Stellar Developers ecosystem https://medium.com/stellar-community/stellar-dev-digest-issue-14-ea71609a22b0 How TomoChain’s TomoZ intends to take on Ethereum market share! https://twitter.com/TomoChainANN/status/1173152916888096768 https://twitter.com/Altcoinbuzzio/status/1172575745584971777 https://www.altcoinbuzz.io/crypto-news/product-release/how-tomochains-tomoz-intends-to-take-on-ethereum-market-share/ Virtual Rehab with Virtual Reality is now solving real-world problems https://cryptodaily.co.uk/2019/09/apple-entry-blockchain-via-rumoured-vr-project https://www.zerohedge.com/news/2019-09-09/virtual-reality-now-solving-real-world-problems Celer Network and NEO Are Launching a Partnership https://www.altcoinbuzz.io/crypto-news/partnerships/celer-network-and-neo-are-launching-a-partnership/ Bitcoin #Bakkt Tweet https://twitter.com/Bakkt/status/1173683919687966720 Big! #Monero ready to use Zcoin’s Privacy protocol https://www.altcoinbuzz.io/crypto-news/product-release/big-monero-ready-to-use-zcoin-privacy-protocol/ #digibyte lists on UpHold https://twitter.com/DigiByteCoin/status/1173623829652004866 #bitcoin #cryptocurrency #altcoin #altcoins #crypto #btc $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #crypto.com #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news Bitcoin cryptocurrency altcoin altcoins crypto btc $BTC bitcoin price ethereum electroneum enjin crypto.com cardano digibyte bitcoin news btc libra chainlink ripple xrp ripple Binance bitcoin news today crypto news Litecoin cryptocurrency news hpb high performance blockchain $xrp $enj $etn $ltc $dgb $ada NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

The Celsius app offers the industry highest rates and supports six different stablecoins all eligible to earn up to 12.03% annually with interest paid out weekly Celsius Network (https://celsius.network/), the industry-leading cryptocurrency platform, announces today it has increased interest rates for stablecoin deposits to 12.03% APR. Users who choose to earn interest in Celsius Network's blockchain-based CEL token can earn up to 30% more than the 9.25% depositors who are paid in-kind on their coins. Celsius is raising its rates because it is consistently earning higher returns on its deposits and distributes 80% of its income to its depositors; as it earns more, it distributes more. Unlike other platforms, ...Full story available on Benzinga.com
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VanEck, SolidX Pull Bitcoin ETF Filing From SEC Consideration

Less than two weeks after VanEck and SolidX rolled out the VanEck SolidX Bitcoin Trust ETF (XBTC), a bitcoin exchange traded product aimed at institutional investors, the firms said they're withdrawing plans for bitcoin exchange traded fund aimed at a broader swath of investors. What Happened The ETF issuer and the fintech firm pulled the filing from consideration by the Securities and Exchange Commission on Sept. 13. The agency had delayed an ultimate decision on that product, as it has with various other bitcoin ETF proposals, several times, but was facing a hard and fast deadline of Oct. 18 to approve or disapprove the VanEck SolidX Bitcoin Trust. “Tuesday’s filing marks the second time VanEck and SolidX withdrew the proposed ETF. ...Full story available on Benzinga.com
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IOTA Introduces Chronicle Permanode to Amend Scalability Issues

IOTA, a permissionless trust protocol designed to revolutionize the Internet of Things (IoT) ecosystem by facilitating a frictionless exchange of value between machines and humans, has announced the launch of Chronicle, a permanode solution the team hopes will give node operators an unlimited amount of storage space in their Tangle distributed database, according to aRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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