In today’s FinTech news, Banking Circle is adopting USD Coin (USDC), while farming loan platform Tillable is growing its lending program. Plus, decentralized finance (DeFi) lender Teller is launching a buy now, pay later (BNPL) initiative for purchasing non-fungible tokens (NFTs).
Banking Circle to Adopt USD Coin
European payments bank Banking Circle is adopting USDC on its platform as a payment acceptance, processing and settlement method. Banking Circle will act as a bridge between fiat bank accounts and stablecoins as the company moves toward its Web3 plans.
Tillable Teams with Evergreen Bank to Expand Digital Farm Loans
Farmland resource and loan platform Tillable is partnering with Evergreen Bank to expand its digital lending program. Tillable provides farmland mortgages, refinances, operating loans and rental financing, and it is striving to make owning and renting America’s farmland easy and sustainable.
Teller Brings BNPL to NFT Market With ‘Ape Now, Pay Later’ Loans
DeFi lender Teller is rolling out a BNPL feature so buyers NFTs can spread payments across installments. Bored Ape Yacht Club, Doodles, Meebits, Cool Cats and other NFT collections are included in Teller’s Ape Now, Pay Later initiative.
Fed Vice Chair Brainard: Crypto Sector Needs Strong, Swift Regulation
Cryptocurrency regulations are needed before the industry poses financial stability risks, Federal Reserve Vice Chair Lael Brainard said while speaking at a Bank of England conference in London. She noted that the volatility and downturns in the space have made it clear that digital assets are as risky as traditional financial assets.
Creditas Raises $200M, Buys Brazilian Bank
Brazilian lender Creditas raised $200 million to purchase a bank and a mortgage startup in a move to bolster profitability. Creditas, which offers online consumer loans, is purchasing Andbank’s Brazilian banking license and plans to start accepting deposits.
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NEW PYMNTS DATA: HOW UTILITIES AND CONSUMER FINANCE COMPANIES CAN ENHANCE THE BILL PAYMENTS EXPERIENCE
About: More than half of utilities and consumer finance companies have the capability to process all monthly bill payments digitally. The kicker? Just 12% of them do. The Digital Payments Edge, a PYMNTS and ACI Worldwide collaboration, surveyed 207 billing and collections professionals at these companies to learn why going totally digital remains elusive.
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