ECB exclusive: Crypto payments 'not currently cost effective,' Amex exec says
The American Express executive said that their firm is bullish on crypto and is actively working to incorporate more crypto-related services in the future. Gonzalo Pérez del Arco, the director of government affairs in South Europe for card payment giant American Express, believes that making payments with crypto is not cost-effective at present.Pérez’s comments came during an exclusive chat with Cointelegraph editor Aaron Wood at European Blockchain Convention 2022, where he discussed American Express’ current crypto-related plans and future prospects.Pérez explained that several factors....
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American Express’ Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.), and Paypal Ventures are among investors in the latest funding round of crypto transaction monitoring and forensics platform TRM.
Amex, Visa, Citi, Paypal Invest in TRM Platform
Crypto transaction monitoring and forensics platform TRM announced Tuesday investments from major financial institutions in its Series B funding round.
The company has raised $60 billion from leading financial institutions, including American....
American Express’ first foray into NFTs, a partnership with popular musician SZA, has sold out within hours of kicking off. American Express (Amex) has teamed up with popular neo-soul singer and songwriter, SZA, to enter the NFT market. The duo partnered to drop a set of 14 one-of-one edition NFTs, dubbed “Amex Unstaged x SZA: The Collection,” that depict moments from one of SZA’s recent concerts. Participation in the NFT sale was made available only to Amex users, with the first 10 dropped on July 9, with concert-goer's given exclusive access. The remaining 4 were dropped earlier today....
Making payments with a credit card is very convenient, as this method of value transfer is accepted both online and in-store all over the world. But at the same time, so many different third party players are involved in the processing of credit cards, leaving customers exposed to financial information being stolen. Amex users have received a letter from the card issuer informing them about a potential hack recently. Bitcoin users could take note from this lesson, though, as there is no need to trust third parties with digital currency either.
“We’re exploring other ways, potentially, to redeem your membership rewards points, but I don’t think you’re going to see an American Express card linked to cryptocurrency anytime soon," said Stephen Squeri. American Express credit card holders may one day be able to redeem points for cryptocurrencies, but the company has no immediate plans to issue a crypto-linked credit card.In a Tuesday interview with Yahoo! Finance, Amex chief executive officer Stephen Squeri said credit card holders were “probably not gonna see a Amex crypto-linked card anytime soon” but the company was already....