Proliferation of Digital Payment Options Worries Everyone: Bloomberg Crypto

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This week in the Bloomberg Crypto newsletter: stacy-marie ishmael tries to make “the payments-aissance” happen and Daniel Zuidijk sheds light on CBDC conspiracy theory.

If you’re someone looking to send money to another person, and assuming you’re not trying to do so in violation of various regulations around sanctions or money laundering, you have more options than ever. You could even call it a payments-aissance. 

Among the many recent examples: the Lightning Network for Bitcoin; privately-issued asset-backed stablecoins like Circle’s USDC; the (still mostly theoretical) central bank digital currencies backed by the full faith and credit of a given country; and the soon-to-be-launched FedNow in the US. These join a crowded field ranging from cold hard cash to services like and Venmo, Apple Pay, and ’s CashApp to bank-run systems like Zelle. 

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