Category: economy

economy Finance global Technology

Western Union is piloting a stablecoin-based settlement system for global remittances

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Western Union is testing stablecoin settlements for faster remittances. The GENIUS Act in the United States has boosted confidence in blockchain-based payment systems. The company plans on/off-ramp partnerships to link crypto and fiat. Global payments leader Western Union is preparing to launch a pilot project that will test a stablecoin-based settlement system aimed at transforming [.] The post Western Union is piloting a stablecoin-based settlement system for global remittances appeared first.

business economy Finance Technology

Amazon Doubles Down on Netherlands with $1.6 Billion Investment Plan

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TLDR Amazon will invest €1. 4 billion ($1. 6 billion) in the Netherlands over the next three years from 2025 to 2027 The investment represents Amazon’s largest financial commitment to the country since launching there in 2020 Funds will support both Amazon Web Services (AWS) and retail operations, including infrastructure and technology improvements Over 4, 500 Dutch small [.] The post Amazon Doubles Down on Netherlands with $1. 6 Billion Investment Plan appeared first on CoinCentral.

business economy Finance Technology

Western Union Plans Stablecoin Pilot Program for Cross-Border Transfers

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TLDR Western Union will pilot a stablecoin-based settlement system for its 150 million customers to reduce reliance on traditional banking systems CEO Devin McGranahan says the pilot aims to move money faster with greater transparency and lower costs while maintaining compliance The company changed its stance on crypto after passage of the GENIUS Act, which [.] The post Western Union Plans Stablecoin Pilot Program for Cross-Border Transfers appeared first on CoinCentral.

business economy Finance Technology

Bitcoin Miners Ditch Crypto for AI as Stocks Soar Over 500%

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TLDR Bitcoin mining companies including IREN, Riot, TeraWulf, and Cipher Mining are redirecting their infrastructure to AI and high-performance computing workloads through long-term contracts. Mining profitability has declined over 7% in September due to bitcoin price volatility and the halving schedule that cuts mining rewards every four years. Bitcoin miners can reduce AI data center [.] The post Bitcoin Miners Ditch Crypto for AI as Stocks Soar Over 500% appeared first on CoinCentral.

economy Finance

Bitcoin is no inflation hedge but thrives when the dollar wobbles: NYDIG

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Bitcoin doesn’t consistently act as a hedge against inflation, but it has instead “evolved into a liquidity barometer,” says NYDIG’s Greg Cipolaro. Inflation does not have a major impact on Bitcoin’s price, as many believe, but a weakening US dollar does help push up the cryptocurrency alongside gold, according to NYDIG.“The community likes to pitch Bitcoin as an inflation hedge, but unfortunately, here, the data is just not strongly supportive of that argument,” NYDIG global head of research Greg Cipolaro said in a note on Friday.“The correlations with inflationary measures are neither consistent nor are they extremely high,” he added. Cipolaro said that expectations of inflation are a “better indicator” for Bitcoin (BTC) but are still not closely correlated. Read more.

economy Finance government politics shutdown

Trump administration posts notice that no federal food aid will go out Nov. 1

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The U. S. Department of Agriculture has posted a notice on its website saying federal food aid will not go out on Nov. 1 as the government shutdown drags on. The cutoff would expand the impact of the impasse to some of the Americans most in need unless a resolution is found in just a few days. The notice comes after the Trump administration said it will not tap roughly $5 billion in contingency funds to keep the benefits flowing into November. The Trump administration blames Democrats, who say they won’t agree to reopen the government until Republicans negotiate with them on extending expiring subsidies under the Affordable Care Act.

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