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FCF Pay’s X account has been suspended amid circulating misreporting about its “partnership” with Honda, which has never happened. Major automobile manufacturer Honda does not accept cryptocurrency payment s directly but one can use cryptocurrencies like Bitcoin (BTC) to buy a Honda car through a third party . In early October, several publications mistakenly reported that Honda started accepting cryptocurrency as payment. But Honda doesn’t allow one to purchase its cars in exchange for crypto, a spokesperson for the firm told Cointelegraph, stating: “American Honda does not accept cryptocurrency as payment. The recent reports regarding a change to this policy are incorrect.” Honda didn’t respond to additional questions on its stance on crypto or whether the company is planning to integrate cryptocurrency payment s in the future. While direct crypto payments for Honda automobiles aren’t available, one can still use cryptocurrency payment platforms like FCF Pay to buy a Honda car. Acco...

Visa’s executive, Akshay Chopra, has unveiled the significant impact of the company’s partnerships with cryptocurrency exchanges, resulting in billions of dollars in payment volume. During a panel discussion at the Blockchain Economy Dubai Summit, Akshay Chopra, Visa’s Vice President, Head of Innovation and Design, spoke with Cointelegraph reporter Ezra Reguerra. He underscored the pivotal role that Visa cards have played in bridging the gap between traditional fiat currencies and the world of cryptocurrencies in recent years. Chopra pointed out that despite the growing interest in crypto currencies, their use for everyday transactions, such as buying a cup of coffee, remains far from widespread. To address this challenge, Visa forged partnerships with 75 leading crypto currency exchanges in 2021, enabling them to issue Visa cards . This initiative opened up a network of approximately 80 million Visa-affiliated merchants, extending the reach of crypto currency paymen...

Germany’s conglomerate Siemens AG was reportedly the first company to process euro-denominated payments using JPM Coin. The United States-based investment bank JPMorgan is expanding the implementation of one of its major blockchain projects, JPM Coin, into traditional banking. JPMorgan has deployed its blockchain-based payment system, JPM Coin, to introduce euro-denominated payments for corporate clients, Bloomberg reported on June 23. According to Basak Toprak, JPMorgan’s head of Coin Systems for Europe Middle East and Africa, JPM Coin went live with euro transactions on June 21. Germany’s conglomerate Siemens AG conducted the first euro payment on the platform, Toprak said. The system enables wholesale payments such clients, including large multinational firms, to transfer euros to and from their JPMorgan accounts instantly and 24/7. That brings a significant improvement in comparison to traditional banking transactions, which are usually processed only during business hours. “...

The ongoing war in Ukraine has made financial services inaccessible for many, exacerbating the need for a low-cost, efficient solution. International money transfers have long been a challenge for anyone who needs to send money from one country to another. Traditional banking systems are slow and expensive because many banks don’t have a direct relationship with each other, so they have to charge high processing fees or use an intermediary to complete a transfer. The multi-step process can take days or even weeks to complete a transfer. This makes it increasingly difficult for people to pay for expenses abroad or send money to loved ones who may be in a time crunch. The situation has since been exacerbated by the ongoing war in Ukraine. As the war intensifies, an estimated 8 million Ukrainians have been forced to flee their homes, leaving them without access to basic necessities, including financial services. In many cases, traditional banking systems are nonexistent or disrupted, mak...