Worldpay partners BVNK for stablecoin payouts
Worldpay has enlisted BVNK to bring nearly instant global payouts in stablecoins to its clients in the US and Europe.
2
The collaboration will enable Worldpay's clients to pay out to customers, contractors, creators, sellers, and other third party beneficiaries in stablecoins across more than 180 markets nearly instantly, without having to hold or handle the digital assets themselves.
With a pilot set to go live in the second half of the year, clients will access the service through their existing integration with Worldpay's payouts platform.
Stablecoin adoption is exploding, with $27 trillion in total transaction volume globally across 1.25 billion transactions in 2024, according to Visa analysis.
The deal builds on previous forays into stablecoins for Worldpay, which began offering merchants in some places the ability to receive settlements in USDC back in 2022 and has also completed a pilot with Visa to receive funds more quickly from the network.
Jesse Hemson-Struthers, CEO, BVNK, says: 'Stablecoins are unlocking a new paradigm for global cross-border payments, offering benefits in speed, transparency, and accessibility versus traditional financial infrastructure, with around $5.7 trillion of stablecoin payments made in 2024.
"However, interacting with crypto and blockchain technology can be daunting, which has limited adoption historically. When trusted providers like BVNK and Worldpay work together, we can simplify some of the complexity and bring modern, efficient payments options - on high-speed payment rails - to businesses across the globe.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News
an hour ago
- Sky News
US warplanes transit through UK: Here's what the flight tracking data shows
Flight tracking data shows extensive movement of US military aircraft towards the Middle East in recent days, including via the UK. Fifty-two US military planes were spotted flying over the eastern Mediterranean towards the Middle East between Monday and Thursday. That includes at least 25 that passed through Chania airport, on the Greek island of Crete - an eight-fold increase in the rate of arrivals compared to the first half of June. The movement of military equipment comes as the US considers whether to assist Israel in its conflict with Iran. Of the 52 planes spotted over the eastern Mediterranean, 32 are used for transporting troops or cargo, 18 are used for mid-air refuelling and two are reconnaissance planes. Forbes McKenzie, founder of McKenzie Intelligence, says that this indicates "the build-up of warfighting capability, which was not [in the region] before". Sky's data does not include fighter jets, which typically fly without publicly revealing their location. An air traffic control recording from Wednesday suggests that F-22 Raptors are among the planes being sent across the Atlantic, while 12 F-35 fighter jets were photographed travelling from the UK to the Middle East on Wednesday. Many US military planes are passing through UK A growing number of US Air Force planes have been passing through the UK in recent days. Analysis of flight tracking data at three key air bases in the UK shows 63 US military flights landing between 16 and 19 June - more than double the rate of arrivals earlier in June. On Thursday, Sky News filmed three US military C-17A Globemaster III transport aircraft and a C-130 Hercules military cargo plane arriving at Glasgow's Prestwick Airport. Flight tracking data shows that one of the planes arrived from an air base in Jordan, having earlier travelled there from Germany. What does Israel need from US? Israeli Prime Minister Benjamin Netanyahu said on 15 March that his country's aim is to remove "two existential threats - the nuclear threat and the ballistic missile threat". Israel says that Iran is attempting to develop a nuclear bomb, though Iran says its nuclear facilities are only for civilian energy purposes. A US intelligence assessment in March concluded that Iran is not building a nuclear weapon. President Trump dismissed the assessment on Tuesday, saying: "I think they were very close to having one." Forbes McKenzie says the Americans have a "very similar inventory of weapons systems" to the Israelis, "but of course, they also have the much-talked-about GBU-57". The GBU-57 is a 30,000lb bomb - the largest non-nuclear bomb in existence. Mr McKenzie explains that it is "specifically designed to destroy targets which are very deep underground". Experts say it is the only weapon with any chance of destroying Iran's main enrichment site, which is located underneath a mountain at Fordow. Air-to-air refuelling could allow Israel to carry larger bombs Among the dozens of US aircraft that Sky News tracked over the eastern Mediterranean in recent days, more than a third (18 planes) were designed for air-to-air refuelling. "These are crucial because Israel is the best part of a thousand miles away from Iran," says Sky News military analyst Sean Bell. "Most military fighter jets would struggle to do those 2,000-mile round trips and have enough combat fuel." The ability to refuel mid-flight would also allow Israeli planes to carry heavier munitions, including bunker-buster bombs necessary to destroy the tunnels and silos where Iran stores many of its missiles. Satellite imagery captured on 15 June shows the aftermath of Israeli strikes on a missile facility near the western city of Kermanshah, which destroyed at least 12 buildings at the site. At least four tunnel entrances were also damaged in the strikes, two of which can be seen in the image below. Writing for Jane's Defence Weekly, military analyst Jeremy Binnie says it looked like the tunnels were "targeted using guided munitions coming in at angles, not destroyed from above using penetrator bombs, raising the possibility that the damage can be cleared, enabling any [missile launchers] trapped inside to deploy". "This might reflect the limited payloads that Israeli aircraft can carry to Iran," he adds. Penetrator bombs, also known as bunker-busters, are much heavier than other types of munitions and as a result require more fuel to transport. Israel does not have the latest generation of refuelling aircraft, Mr Binnie says, meaning it is likely to struggle to deploy a significant number of penetrator bombs. Israel has struck most of Iran's western missile bases Even without direct US assistance, the Israeli air force has managed to inflict significant damage on Iran's missile launch capacity. Sky News has confirmed Israeli strikes on at least five of Iran's six known missile bases in the west of the country. On Monday, the IDF said that its strategy of targeting western launch sites had forced Iran to rely on its bases in the centre of the country, such as Isfahan - around 1,500km (930 miles) from Israel. Among Iran's most advanced weapons are three types of solid-fuelled rockets fitted with highly manoeuvrable warheads: Fattah-1, Kheibar Shekan and Haj Qassam. The use of solid fuel makes these missiles easy to transport and fast to launch, while their manoeuvrable warheads make them better at evading Israeli air defences. However, none of them are capable of striking Israel from such a distance. Iran is known to possess five types of missile capable of travelling more than 1,500km, but only one of these uses solid fuel - the Sijjil-1. On 18 June, Iran claimed to have used this missile against Israel for the first time. Iran's missiles have caused significant damage Iran's missile attacks have killed at least 24 people in Israel and wounded hundreds, according to the Israeli foreign ministry. The number of air raid alerts in Israel has topped 1,000 every day since the start of hostilities, reaching a peak of 3,024 on 15 June. Iran has managed to strike some government buildings, including one in the city of Haifa on Friday. And on 13 June, in Iran's most notable targeting success so far, an Iranian missile impacted on or near the headquarters of Israel's defence ministry in Tel Aviv. Most of the Iranian strikes verified by Sky News, however, have hit civilian targets. These include residential buildings, a school and a university. On Thursday, one missile hit the Soroka Medical Center in Beersheba, southern Israel's main hospital. More than 70 people were injured, according to Israel's health ministry. Iranian foreign minister Abbas Araghchi said that Iran had struck a nearby technology park containing an IDF cyber defence training centre, and that the "blast wave caused superficial damage to a small section" of the hospital. However, the technology park is in fact 1.2km away from where the missile struck. Photos of the hospital show evidence of a direct hit, with a large section of one building's roof completely destroyed. Iran successfully struck the technology park on Friday, though its missile fell in an open area, causing damage to a nearby residential building but no casualties. Israel has killed much of Iran's military leadership It's not clear exactly how many people Israel's strikes in Iran have killed, or how many are civilians. Estimates by human rights groups of the total number of fatalities exceed 600. What is clear is that among the military personnel killed are many key figures in the Iranian armed forces, including the military's chief of staff, deputy head of intelligence and deputy head of operations. Key figures in the powerful Revolutionary Guard have also been killed, including the militia's commander-in-chief, its aerospace force commander and its air defences commander. On Thursday, Israeli Prime Minister Benjamin Netanyahu said that US assistance was not necessary for Israel to win the war. "We will achieve all our objectives and hit all of their nuclear facilities," he said. "We have the capability to do that." 3:49 Forbes McKenzie says that while Israel has secured significant victories in the war so far, "they only have so much fuel, they only have so many munitions". "The Americans have an ability to keep up the pace of operations that the Israelis have started, and they're able to do it for an indefinite period of time." Additional reporting by data journalist Joely Santa Cruz and OSINT producers Freya Gibson, Lina-Sirine Zitout and Sam Doak.
Times
an hour ago
- Times
Defence spending is increasing. Do we get bang for our buck?
B uckle up: the British state is about to commit a lot of money it does not really have to restore defence spending to levels last seen in the 2000s. Indeed it may have to go further: at the Nato summit this week the organisation's secretary general, Mark Rutte, will push member states to commit themselves to spending 5 per cent of GDP on defence. For years the fall in defence spending was used to pay for a rise in healthcare and welfare costs — the peace dividend — but defence has come calling again, and that transfer cannot be reversed. Instead, by squeezing a few years of the foreign aid budget, the prime minister has managed to raise defence spending to 2.6 per cent of GDP by 2027-28. We will learn a bit more about where that money will be spent in a national security strategy to be published this week. But will 2.6 per cent make much of a difference? Will a 0.3 percentage point rise in spending over the next few years really result in a meaningful expansion of our armed forces?
Daily Mail
2 hours ago
- Daily Mail
MAIL ON SUNDAY COMMENT: Dogma cares little for the state of Britain's economy
This country's economy is now in serious peril. This is not only because the Government is nudging at the very outer limits of what it can raise in tax and borrowing – though it is. It is also because that government is increasingly driven by ferocious dogma which cares little for such concerns. It may be that some in the Cabinet can see the danger, yet others do not even view it as a danger, but as an opportunity for yet more upheaval and dramatic change. The extraordinary developments of last week, in which the current very large Labour majority in Parliament brought about revolutions in abortion law and in assisted dying, are a warning that we are now in uncharted waters. It may possibly be that we have never had a government whose parliamentary forces are so radical. And the uncrowned queen of those forces is the Deputy Prime Minister Angela Rayner, increasingly influential and remarkably effective in the Commons and in Whitehall. It is true that there has always been a role for disruptive and troublemaking men and women near the top of the Labour Party. In the Tony Blair years, a similar position was filled by the late John Prescott, a majestic steam-powered Dreadnought originating in the (now remote) days of real class war. Let nobody underestimate Lord Prescott's considerable influence on the government he served. But Tony Blair, Gordon Brown and the apparatus of New Labour kept him under control. In this case, it looks very much as if a confident and popular Ms Rayner has slipped free of any restraint by the Prime Minister, Sir Keir Starmer. Her Employment Rights Bill, which is alarming businesses all over the country, would have been strangled at birth in the days of Blairism. The unions would have been told – rightly – that the public had grown heartily sick of their overmighty antics in the past, and did not want to see them given back the unrestrained power they had rightly lost. And while Sir Keir and his Chancellor Rachel Reeves must know this, they seem either powerless to act, or surprisingly untroubled by the danger of it. Speaking to The Mail on Sunday last week, Ms Reeves simply evaded the question of Ms Rayner's plans. When a successful businessman such as Sir James Dyson accuses you of being 'vindictive' and of 'waging a war on aspiration', you really ought to listen. It is on the success of such businessmen that any future economic growth must be based. Without that growth, where are the taxes to come from to pay for the advanced welfare state in which we live? So we must applaud the open letter to British businessmen sent out by Shadow Business Secretary Andrew Griffith, in which he does what Sir Keir and Ms Reeves will not do, and makes it plain just how dangerous Ms Rayner's plans are. He warns those business chiefs that they are being sleepwalked into disaster, that the Rayner Bill will fundamentally change the balance of power in workplaces, at huge cost. Coming after the idiocy of the National Insurance increase, this a grave threat to the jobs of trade union members, as well as to the economy as a whole. We can only hope that the Prime Minister and his Chancellor will listen and act, for the nation's sake as well as their own.
