Monat: Januar 2025

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Bank of America CEO says banks will embrace crypto with clearer regulations

  • The banking sector could embrace crypto payments if clearer rules are in place
  • Crypto would be another form of payment like Visa and Mastercard, said Brian Moynihan
  • A new crypto task force aims to provide a “clear regulatory framework for crypto assets”

Bank of America’s CEO said the US banking industry will embrace crypto payments if clearer rules are in place from regulators.

In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Brian Moynihan said that all banks send money digitally nowadays. He added that if rules come in and crypto payments are made “real,” then “the banking system will come in hard on the transactional side of it.”

“If you go down the street here and you go in and buy lunch, right, if you can pay with Visa, Mastercard, a debit card, Apple Pay, etc., this would just be another form of payment,” the BoA CEO said.

To date, US banks have been cautious about offering retail crypto services, instead focusing on providing institutional products such as spot Bitcoin exchange-traded funds (ETFs).

Changes under a Trump administration?

Moynihan’s comments come as President Donald Trump started another term in the White House earlier this week.

During his election campaign, Trump indicated a pro-crypto stance and has since appointed several pro-crypto candidates to various government positions.

Introducing a new crypto task force “dedicated to developing a comprehensive and clear regulatory framework for crypto assets” could give banks the push they need to enter the space.

Speaking to CoinJournal, Tom Kiddle, co-founder of Palisade, a French-regulated digital asset custodian backed by Ripple, said: “So far, the country has done little to advance a clear crypto regulatory framework. However, Trump’s nomination of pro-crypto Paul Atkins could mark the dawn of a new era for the sector.”

When asked about crypto such as Bitcoin as an investment option during the interview, Moynihan refrained from answering, stating that topic was “really a separate question.”

The post Bank of America CEO says banks will embrace crypto with clearer regulations appeared first on CoinJournal.

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TRON to allow zero-fee stablecoin transactions

  • TRON plans to introduce zero-fee stablecoin transfers
  • The plan aims to boost blockchain adoption
  • TRX sees price dip amidst optimistic news

In an exciting development Justin Sun, the founder of TRON, has announced plans to introduce zero-fee stablecoin transactions.

This initiative aims to revolutionize the way stablecoins are transferred on the TRON blockchain, promising a significant enhancement in user experience by eliminating transaction fees for stablecoin users.

The announcement has sparked a wave of enthusiasm among TRON users and crypto enthusiasts alike, as it could potentially make TRON’s blockchain even more attractive for stablecoin operations.

Sun emphasized that this feature is being developed to make stablecoin transfers entirely fee-free. By doing so, it removes barriers to entry and potentially accelerating the mass adoption of blockchain technology for financial transactions.

The technical details on how TRON will manage to offer zero-fee transactions remain somewhat under wraps, but this move could shift costs elsewhere, possibly to validators or through other innovative mechanisms.

The move is part of a broader strategy by TRON to enhance its platform’s utility, especially in areas where it has already made significant inroads, like stablecoin market share.

Impact on TRON (TRX) price

Parallel to this news, TRON’s native cryptocurrency, TRX, has shown notable price movements. Over the past week, TRX has experienced a modest increase, with a 2.9% jump. However, the token has experienced a slight 3.6% drop today, reflecting broader market dynamics rather than this specific announcement.

Nevertheless, the zero-fee stablecoin transaction news has injected a sense of optimism, with market analysts suggesting that this could lead to a positive price adjustment in the near term if the implementation proves successful.

Industry observers are keen to see how this zero-fee model will be received by the broader market, especially given TRON’s significant role in hosting stablecoins like USDT, where it commands a substantial portion of the stablecoin market cap.

The move could not only increase TRON’s user base, but also set a precedent for other blockchains to follow suit in making cryptocurrency more accessible and cost-effective for everyday use.

The post TRON to allow zero-fee stablecoin transactions appeared first on CoinJournal.

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Remittix unveils its PayFi project as presale hits $5m

Key takeaways

  • Remittix is a new PayFi project that allows users to pay fiat into any bank account worldwide using crypto.
  • The project has raised over $5 million in its presale, selling over 284 million tokens.

What is Remittix?

The cryptocurrency space is evolving thanks to its never-ending stream of innovation. The industry has already seen the emergence of narratives such as DeFi, RWA, and several others.

Remittix is ushering in another era with an interesting narrative: PayFi. According to the team, Remittix is a payment network that merges the best parts of traditional payment systems with decentralized Finance. The merger of these two is called PayFi.

Remittix will allow users to pay fiat into any bank account worldwide using crypto. The platform will empower users to easily connect their crypto wallets and send cryptocurrencies to recipients who can receive the money in their preferred fiat currency. The best part of Remittix is that there are no hidden fees, no expensive conversation rates and the recipient will have no idea the original payment was sent in crypto.

How does Remittix work?

Using Remittix is not complicated, and it is suitable for both novices and experts in the crypto space. The development team explained the platform’s working model in their whitepaper.

The first step is to enter the recipient’s bank details into Remittix, just like you would for a standard bank transfer. The sender must also enter how much they want to pay and the payment reference to be displayed on their bank statement. Remittix will generate a quote for the sender and show the amount of crypto to transfer and the exact amount charged in fees.

Finally, the sender transfers the crypto to the unique deposit address provided. The crypto will then be liquidated and transferred to the recipient via bank transfer.

After a successful payment, the sender will be given a receipt. Updates about their payment can be found in the Remittix dashboard. Typically, payments will arrive at the recipient’s bank account within 24 hours. The full amount will arrive, and the reference will be included.

Remittix presale surpasses $5m

Remittix is a cross-border payment project that could revolutionise how users send money via cryptocurrencies. As a project with huge potential, Remittix has already raised over $5 million in its presale. 

According to the team, the presale target is $36 million, with over 105 raised so far. There are 750m tokens available in the presale, with over 284 million tokens sold already. 

Furthermore, the liquidity pool will be locked for 3 years, and the team token will also be locked for 3 years. Remittix has undergone a full smart contract audit which was passed with no issues within the contract, further solidifying their commitment to safety and transparency for their customers. 

Remittix will launch the RTX token on top centralized exchanges and on Uniswap. Users can buy the RTX tokens using USDT, USDC, and accepted cards.

The RTX token is currently sold for $0.0282 per token, with the price set to increase to $0.0297 in the next presale stage 

Why buy the RTX token now?

Remittix is an exciting PayFi project that could boost crypto adoption by making it easier to send crypto to others as fiat. The project has raised nearly $5.5 million so far, with over 284 million tokens sold.

As a project, Remittix offers numerous benefits to users, including lower fees, faster processing, transparency and security, flexibility, streamlined operations, and financial inclusion.

The presale is an opportunity to buy the RTX tokens at a possible discount price before it starts trading on centralised and decentralised exchanges.

The post Remittix unveils its PayFi project as presale hits $5m appeared first on CoinJournal.