SAP opens testnet registration for cross border payments in stablecoins

2023-6-23 11:51

The German enterprise software firm SAP has launched a preview of its Digital Currency Hub (DCH) system, enabling cross-border payments using USDC and EUROC.

Issued by payment technology firm Circle, the USDC and EUROC stablecoins are pegged 1-to-1 with the dollar and euro. Peter Schroeder, director at Circle, described the DCH news as “a big deal.” He added:

“SAP is the world’s largest provider of Enterprise Application Software, counting 99/100 of the world’s largest companies as customers. Their customers generate 87% of total global commerce equating to approx. $46T annually.“

Although USDC is available on nine blockchains, including Algorand, Solana, and TRON, Schroeder confirmed that the preview phase would use Ethereum only. EUROC has a much smaller token circulation than USDC. It is available on Ethereum and Avalanche.

The current circulations of USDC and EUROC are $28.2 billion and €47.9 million ($52.3 million,) respectively.

SAP takes on cross-border payments

Product expert at SAP, Sissi Ruthe, said cross-border payments are difficult for businesses of all sizes. They are expensive, costing up to $50, can take up to seven days to clear, and “you never know the status of the transaction,” she said.

Using digital money via blockchain technology could solve all these problems; Ruthe added that utilizing USDC or EUROC to settle payments instead of the traditional banking network does the job in minutes.

“Technically, each business partner requires a wallet which in the blockchain world is the equivalent of a bank account. These wallets can be held in self-custody, enabling cross-border payments without intermediaries.”

During the “Test Drive,” SAP will run a testnet comprised of test USDC for participants to experience the process of stablecoin settlement and “how easy cross-border payments with Digital Money will become in the future.”

The post SAP opens testnet registration for cross border payments in stablecoins appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

USCoin (USDC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 USDC

stablecoins firm euroc payments usdc sap issued

Источник: cryptoslate.com

stablecoins firm → Результатов: 86


Stablecoin Market Cap Decreases, But Whales Remain Unfazed: Santiment

According to data from leading crypto analytics firm Santiment, a distinct trend has unfolded in the stablecoin sphere. Even as stablecoins designed to maintain parity with a reserve asset like the US dollar, continue to hold their $1 peg, the combined market capitalization of the top five stablecoins – Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Dai (DAI), and TrueUSD (TUSD) – has been experiencing a consistent decrease.

2023-6-9 22:00


Фото:

Sharks & Whales Accumulate Stablecoins, Why This Could Be Bullish For Bitcoin

Data shows the sharks and whales of the largest stablecoins have been accumulating, something that may turn out to be bullish for Bitcoin. Sharks & Whales Have Been Loading Up On Stablecoins Recently According to data from the on-chain analytics firm Santiment, the sharks and whales have recently improved their share of the total supply of stablecoins like USD Coin (USDC), Dai (DAI), and Binance USD (BUSD).

2023-5-24 15:42


1 quadrillion yUSDT minted in Yearn Finance exploit

The hack was detected by blockchain security firm PeckShield. The hacker swapped the yUSDT to other stablecoins. The hacker has also transferred 1,000 Ether to Tornado Cash. Blockchain Security firm PeckShield recently detected an exploit on the lending platform Yearn Finance that resulted in an irregular minting of over 1 quadrillion Yearn Tether (yUSDT) using […] The post 1 quadrillion yUSDT minted in Yearn Finance exploit appeared first on CoinJournal.

2023-4-13 17:05


FTT price falls amid liquidation claims

FTT price has dropped by more than 12% in the past seven days following some issues with a leaked Balance Sheet of FTX’s sister firm Alameda Research. In particular, the leaked balance sheet showed an imbalance in Alameda’s financials and triggered fear among investors who have been withdrawing funds including stablecoins from FTX at an […] The post FTT price falls amid liquidation claims appeared first on CoinJournal.

2022-11-8 16:36


Hedge Fund Giant, Marshall Wace, Is Now Betting on Crypto with A Special Focus on Stablecoins

London-based hedge fund Marshall Wave is the latest giant to enter the cryptocurrency industry reported FT citing people familiar with the plans. The investment firm, which manages $55 billion in assets, will target investments in areas including blockchain technology, payments systems for digital currencies, and stablecoins, with the latter being a specific focal point of […] The post Hedge Fund Giant, Marshall Wace, Is Now Betting on Crypto with A Special Focus on Stablecoins first appeared on BitcoinExchangeGuide.

2021-7-6 20:46


Фото:

How Ethereum’s Economy is Now Dominated by Stable Value Transfer

Ethereum is more than just a cryptocurrency-asset; it is an entire digital economy and ecosystem. Recent research has found that stablecoin value transfer has now flipped ETH on its network. According to the crypto-research firm Messari, ERC-20 stablecoins on the Ethereum network have now overtaken ETH itself in terms of the adjusted transfer value.

2020-2-2 20:05


Binance Jumps into the Astrological Waters of Stablecoin With its New Project Dubbed “Venus”

Binance, the world's largest cryptocurrency exchange has announced a new project dubbed “Venus” that will develop digital assets pegged to fiat currencies around the world aka stablecoins. This stablecoin initiative of the exchange will see the firm utilizing its proprietary Binance Chain network— that uses “distributed proof of stake” consensus model” — and international payment […]

2019-8-19 16:19


TrustToken Launches TUSD on Binance DEX, Four Stablecoins Set to Follow in “Coming Weeks”

Through the year we’ve kept you, our reader, up to date on the new stable coins released by TrustToken, a stable coin issuer backed by top VC firm Andreessen Horowitz (a16z). In early June, the stable coin issuer announced a partnership with Binance decentralized exchange (DEX) to list the TrueUSD (TUSD) token allowing users to […]

2019-8-8 18:04


дальше еще 37 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Stablecoin Users Alert: Brazil Eyes Ban On Withdrawals To Self-Custody Wallets

As part of its efforts to keep up with changes in the financial world, the Brazil Central Bank (BCB) wants new rules on virtual currencies, especially stablecoins. The Central Bank said in a press release on November 29 that there would be a public consultation notice with a plan on how to regulate virtual asset […]

Brazil eyes prohibition on stablecoin withdrawals to self-custody wallets

The Central Bank of Brazil (BCB) has unveiled a regulatory proposal prohibiting centralized exchanges from allowing users to withdraw stablecoins to self-custodial wallets. According to the public consultation notice, the transfer of stablecoins — called “tokens denominated in foreign currencies” — between residents would be restricted in cases where Brazilian law already allows payments in […] The post Brazil eyes prohibition on stablecoin withdrawals to self-custody wallets appeared first on CryptoSlate.

Ethereum beats Tron in Tether market share: What drove this change?

Despite its best efforts, Tron's TVL remained lower than Ethereum’s. ETH also remained far ahead of TRX in certain metrics. After a two-year battle for supremacy, Ethereum [ETH] has officiThe post Ethereum beats Tron in Tether market share: What drove this change? appeared first on AMBCrypto.