Instant Payments

Jeeves raises $110 million in Series C led by CoinFund to expand crypto push

Miami-based fintech company Jeeves Inc. has raised $110 million from investors and plans to use the capital to widen its business footprint, according to a Bloomberg report cited by BlockBeats. The company said the funding will support several product and market expansion efforts, including the launch of a stablecoin wallet, the rollout of AI agents, and the addition of instant payments in more countries. The round was structured as a Series C financing and was led by CoinFund. Other participants included AllianceBernstein, Coinbase Ventures, and Andreessen Horowitz, also known as a16z. The funding highlights Jeeves’ plan to deepen its crypto-related offerings while also building out payment capabilities across a broader international market.

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2 months agoNews Editor

X Moves U.S. Creator Payouts to X Money, Drops Stripe for Instant Payments

X (formerly Twitter) announced Wednesday that, starting Sept. 3, all U.S.-based creators will be paid through X Money, replacing the Stripe-backed payout route. The new setup covers original-content rewards and creator subscription income, does away with the $30 minimum withdrawal and the two-week settlement cycle, and lets creators pull funds as soon as earnings land. Under the old system, smaller earners often waited weeks for their first check. X no longer appears to offer any other payment method for U.S. creators, so Stripe is effectively removed from X’s creator-payment stack and X Money becomes the mandatory rail. For X, that means all creator revenue flows through its own financial layer, giving the platform deeper visibility into money movements and user financial behavior. X Money already supports FDIC-insured fiat deposits, Visa cards, and an annual interest rate of up to 6% for U.S. X Premium subscribers, plus a metal credit card with 3% rewards. The market broadly expects X to add stablecoin support next, allowing payouts in assets like USDC and bypassing traditional bank clearing. That would set up a direct clash with Meta’s recent Stripe-linked USDC creator payout initiative.

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AEON

3 months agoNews Editor

AEON integrates with Colombia’s Bre-B instant payment system

AEON, an AI economy settlement protocol, said it has integrated with Bre-B, Colombia’s national instant payment system. The integration allows users to pay with crypto assets through Bre-B standard QR codes, while merchants receive settlement in Colombian pesos, or COP. According to the announcement, AEON already supports more than 50 million merchants worldwide. With the Bre-B connection, the protocol is extending its AI settlement network into a local payment rail in Latin America. AEON said the move provides infrastructure for AI and AI agents to enter real-world commercial use cases and complete transactions and fiat settlement through a domestic payment network. The update centers on payment acceptance and settlement, linking crypto-funded consumer payments with local-currency merchant payouts inside Colombia’s instant payment framework.

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stablecoins

3 months agoNews Editor

Bank of Italy study says stablecoin remittances lack broad cost edge

A July study released by the Bank of Italy found that stablecoin remittances do not consistently beat traditional transfer services on either cost or speed. The bank examined 10 USDC-based remittance corridors and found total costs ranged from 0.30% to nearly 9%. On average, the blockchain portion accounted for just 0.4% of the total, while most fees came from foreign exchange conversion, on- and off-ramping, and related cash-in and cash-out processes. The comparison also showed that only three of the 10 corridors were cheaper than Wise. On settlement times, the on-chain leg averaged less than 15 minutes, but final completion still depended on banking infrastructure. Corridors using instant payment systems such as Italy’s TIPS and Brazil’s Pix could finish within 20 minutes, while the South Africa route took one to two business days. Researchers said stablecoins and instant payment systems should be seen as complementary rather than substitutes.

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XRP

4 months agoNews Editor 01

Canary Capital Backs XRP as Bridge Currency for Instant Payments, Bypassing Pre-Funded Accounts

Canary Capital positions XRP as a bridge currency that eliminates the need for pre-funded foreign accounts, enabling near-instant settlements. Institutions like SBI Remit, MoneyGram, and Santander have adopted RippleNet and ODL services.

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Brazil

4 months agoNews Editor 01

Brazil Weighs Global Expansion of Pix as U.S. Criticism Mounts

Brazil’s central bank is considering an international version of Pix for cross-border payments and remittances. The system has more than 175 million users and has processed nearly 200 billion transactions since 2020.

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Brazil

4 months agoNews Editor 01

Brazil’s Pix Payment System Becomes Election Flashpoint: Lula Defends, Bolsonaro Claims Credit

With 175 million users, Brazil’s instant payment system Pix has become a key election issue. The U.S. demands reform, President Lula resists, and candidate Flavio Bolsonaro tries to claim the system as a conservative legacy, sparking a fierce political battle.

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Chipper Cash

4 months agoNews Editor 01

Africa’s Chipper Cash Adopts Lightning at Scale: 50% of Bitcoin Transactions Now Instant and Low-Cost

Chipper Cash, a leading African fintech company, announced that over 50% of all Bitcoin transactions on its platform now run over the Lightning Network, marking one of the most significant real-world deployments of Lightning. Using infrastructure from Voltage, the company delivers faster, cheaper, and more reliable payments. Customers describe the experience as 'like discovering fire.' The integration enables interoperability with Strike, Cash App, and other Lightning-powered platforms, and the company launched Chessa for remittances with instant settlement into over 25 local fiat currencies. This showcases how emerging markets can leapfrog outdated payment rails.

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