Today in FinTech: Banking Circle to add USDC
In today’s FinTech news, Banking Circle uses USD Coin (USDC), while the farming loan platform Tillable increases its loan program. In addition, decentralized financial lender (DeFi) launches a Buy Now, Pay Later (BNPL) initiative to buy non-fungible tokens (NFT).
Bank circle to use USD coins
The European payment bank Banking Circle uses USDC on its platform as payment acceptance, processing and settlement method. Banking Circle will act as a bridge between fiat bank accounts and stack coins as the company moves towards its Web3 plans.
Workable team with Evergreen Bank to expand digital farm loans
Agricultural resource and loan platform Tillable is collaborating with Evergreen Bank to expand its digital lending program. Tillable provides agricultural loans, refinancing, operating loans and rental financing, and it strives to make it easy and sustainable to own and lease America’s agricultural land.
Teller brings BNPL to the NFT market with “Ape Now, Pay Later” loans
DeFi lender Teller is rolling out a BNPL function so that NFT buyers can spread payments on installments. Bored Ape Yacht Club, Doodles, Meebits, Cool Cats and other NFT collections are included in Tellers Ape Now, Pay Later initiative.
Fed Deputy Brainard: The crypto sector needs strong, rapid regulation
Regulations for cryptocurrency are needed before industry poses a financial stability risk, Federal Reserve Deputy Lael Brainard said during a Bank of England conference in London. She noted that the volatility and declines in space have made it clear that digital assets are as risky as traditional financial assets.
Creditas raises $ 200 million, buys Brazilian bank
Brazilian lender Creditas raised $ 200 million to buy a bank and a mortgage in a move to boost profitability. Creditas, which offers consumer loans online, buys Andbank’s Brazilian banking license and plans to start accepting deposits.
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NEW PYMNTS DATA: HOW TOOLS AND CONSUMER FINANCING COMPANIES CAN IMPROVE THE BILL PAYING EXPERIENCE
About: More than half of energy companies and consumer finance companies have the ability to process all monthly bill payments digitally. The kicker? Only 12% of them do. Digital Payments Edge, a PYMNTS and ACI Worldwide partnership, examined 207 billing and debt collection experts at these companies to find out why it is still elusive to go completely digital.
