ZURICH, Switzerland—Merchants in Switzerland can now accept cryptocurrencies as a means of payment for goods and services, following a deal between one of Europe’s leading payment providers, Worldline, and crypto finance and technology pioneer Bitcoin Suisse, Pymnts.com reported.
THE globe
CU News From Around the Planet
NEW YORK—Global fines for anti-money laundering (AML) and data privacy compliance breaches have fallen by nearly 50% year-on-year in the first half of 2021, but could bounce back quickly as financial crime continues, reported Info Security.
DUBAI, United Arab Emirates—Emirates Airlines is rolling out a way for travelers to pay for tickets directly from their bank accounts into the airline’s bank account via an industry-run system.
TOKYO—Coinbase is launching in Japan in partnership with Mitsubishi UFJ Financial Group (MUFG) as part of the leading crypto exchange’s global strategy.
MEXICO CITY, Mexico—In the first half of the year, Mexicans living abroad sent remittances for amounts greater than the country’s oil sales and foreign direct investment, the Bank of Mexico reported.
MADISON, Wis.– Saying it recognizes that many credit unions are serving countries and populations still left behind by the current COVID-19 recovery, the World Council of Credit Unions’ International Advocacy sent a letter to the Basel Committee on Banking Supervision urging the international standard setting body to “support a measured and orderly approach to the withdrawal of its pandemic relief measures.”
SEOUL, South Korea—The Bank of Korea has revealed plans to initiate its central bank digital currency (CBDC) pilot by the end of August.
LONDON—The Bank of England will look to push higher the price of its digital currency, dubbed "Britcoin,” rather than overtake Bitcoin, according to one person who believes it won’t work.
NAIROBI, Kenya–This country’s robust credit union community, known as Savings and Credit Co-operative Societies, or Saccos, hosted representatives from 16 credit unions in Ghana as part of an exchange on how to improve CUs in that country.
MADISON, Wis.—Nearly $1.3-million has been donated by credit unions and other organizations to the Worldwide Foundation for Credit Unions in just three months, ensuring $1 million in matching funds will be provided as part of the CUNA Mutual Group Challenge.