Tether Freeze Raises Stablecoin Centralization Concerns
After law enforcement agencies identified illegal activity, stablecoin issuer Tether froze $85,877 worth of its flagship USDT coin. The freeze followed a user’s report that their Binance account has been hacked and their USDT was drained. However, this freeze is relatively small compared to the firm’s recent larger-scale actions. In June, Tether froze $700 million […]
A Fragmented Accounts Payable Process Is a Liability in More Ways Than One
At best, an inefficient accounts payable process can result in delayed payments or limited visibility into spending. At worst, it could lead to misrouted payments and an increased probability of fraud. Yet many organizations still rely on outdated AP processes—jeopardizing relationships with the suppliers that keep their business moving. In a recent PaymentsJournal podcast, Marchelle […]
Nasdaq Verafin Deploys AI Agents for AML Compliance
As financial institutions face increasing compliance pressures, Nasdaq Verafin has introduced a platform that applies agentic artificial intelligence to assist with certain anti-money laundering (AML) processes. Verafin, known for its cloud-based financial crime management solutions, recently unveiled its Agentic AI Workforce platform. The platform leverages AI agents to automate common compliance tasks with minimal human […]
Legislation Requiring Cash Acceptance Faces an Uphill Battle
Two U.S. Senators have introduced the Payment Choice Act, the latest attempt to ensure that consumers can use cash at physical retail stores. While several states and cities have passed similar laws, previous efforts to enact cash acceptance legislation at the federal level have stalled. Under the proposal, businesses that accept in-person payments at a […]
Wyoming Trials Stablecoin for Contractor Payments
Wyoming—often at the forefront of crypto innovation—has piloted its Wyoming Stablecoin (WYST) with help from blockchain firm Hashfire. Hashfire’s platform was built to bring agreements and contracts on-chain. The goal of the WYST trial was to automate vendor agreement approvals and enable real-time payments—a process that would normally take 45 days. According to Coindesk, Wyoming […]
Credit Scores Start to Take Shape During Childhood
New research suggests that adult credit access is shaped by childhood experiences—especially neighborhood environment and surrounding social influences. The study from Opportunity Insights found that credit scores tend to solidify by the time a person is in their mid-twenties, with credit behavior deeply linked to formative years and early life circumstances. The area where a […]
OpenAI to Add Payments Checkout in ChatGPT
In the latest convergence of artificial intelligence and payments, OpenAI will integrate a payments checkout system into ChatGPT. Earlier this year, ChatGPT and Shopify partnered to upgrade the shopping feature within the AI platform. The collaboration enabled users who search for a product on ChatGPT to see the top results with prices, reviews, and links […]
The Payment Process: The Supply Chain’s Most Overlooked Cyber Risk
The payment process is the financial Achilles’ heel of the global supply chain and a risk area too often overlooked by finance and security leaders. Why should today’s cybercriminals bother with ransomware or selling stolen Personally Identifiable Information (PII) on the dark web when they can use AI-powered social engineering to trick finance teams into […]
Phishing Attacks Target Vulnerability in Google Gemini
A bug in Google Gemini is allowing criminals to exploit the artificial intelligence itself, using summarized emails to launch phishing attacks. Although Google has reportedly known about the issue since last year, cybersecurity experts say it still hasn’t been fixed. By slipping invisible text into an email—hidden with HTML tricks like white text or concealed […]
Citi Considers Stablecoin, but Is More Active in Tokenized Deposits
As U.S. lawmakers inch closer to passing stablecoin legislation, Citigroup is reportedly exploring the possibility of issuing its own stablecoin. In a post-earnings call, Jane Fraser, CEO of Citigroup, said the institution is also evaluating key aspects of digital assets, including stablecoin reserve management, fiat and digital currency on- and off-ramps, and crypto custodial services. […]