The Fintech Times

JUNE 19, 2024

The Central Bank of the United Arab Emirates (CBUAE) has approved new regulations for stablecoins, enabling it to integrate Dirham-backed digital currencies into its financial ecosystem. But what is the significance of its latest decision regarding stablecoins? To find out, we asked a number of financial leaders.

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PYMNTS

DECEMBER 1, 2020

And, of course, as the pandemic hit, a multitude of central banks took a deep dive into the potential risks and rewards of issuing digital central bank currencies, ranging from digital dollars to euros to, well, pretty much everything. Morgan stablecoin, known as JPM Coin, geared toward B2B. In fact, J.P.

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Digital Currency Central Bank Stablecoins Cross-Border Payments 117

Fintech News

SEPTEMBER 11, 2024

Initially, these will use fiat currencies, but Swift plans to eventually integrate tokenised forms of money such as central bank digital currencies (CBDCs) and stablecoins. This advancement could allow real-time exchanges of tokenised assets and payments on the Swift platform.

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The Payments Association

NOVEMBER 13, 2024

Web3 is transforming finance with blockchain, digital assets, and smart contracts, paving the way for a decentralised future. The enterprise blockchain market is predicted to grow to $246 billion by 2030 , the same year Boston Consulting Group says real-world asset tokenization will become a $16 trillion industry.

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PYMNTS

APRIL 21, 2020

The Central Bank of Argentina (BCRA) is trying out blockchain in a new clearing system, and the technology could eventually be used by other large banks, according to CoinDesk. One of the main goals of the project is to show the other uses for blockchain beyond just cryptocurrency.

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Central Bank Returns Blockchain Cryptocurrency 72

The Payments Association

NOVEMBER 18, 2024

At its core, De-Fi is characterised by its use of blockchain technology and smart contracts to facilitate financial transactions without needing intermediaries. Among the most prominent are stablecoins and the tokeni s ation of traditional financial instruments. As of June 2024, stablecoins accounted for 6.5%

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Stablecoins Distributed Ledger Technology (DLT) Digital Currency Caps 88

PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Bitcoin and other offerings have not yet evolved into real alternatives to sovereign monetary activities, but stablecoins present challenges. In a paper that debuted Tuesday (Nov.

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Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92

PYMNTS

JULY 2, 2020

The blockchain has been touted as the solution for any host of information and asset transfer issues — due in part to the fact that data in a blockchain cannot be altered (i.e. Lack of access to banking is a significant issue for blockchain projects, even today,” Public Mint said. is immutable).

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CoinRemitter

JUNE 26, 2024

The impact of blockchain technology is visible across various industries worldwide. Today, blockchain integration in business is not just a trend but a strategic move. Blockchain’s decentralized nature offers immense opportunities for businesses to streamline their operations and unlock new opportunities to increase their profits.

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PYMNTS

SEPTEMBER 18, 2019

Speaking about stablecoins, which are cryptocurrencies backed by more traditional financial products, like fiat currency, securities or gold, Scholz said, “We cannot accept a parallel currency. According to a government document, Berlin is working closely with allies in Europe and abroad to prevent stablecoins from being introduced.

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Fintech News

MAY 12, 2024

XREX Singapore, a blockchain-enabled financial institution specialising in cross-border payments, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). Dollar (USD), and will support stablecoins like USDT and USDC, adhering to the Financial Action Task Force (FATF) travel rule.

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PYMNTS

MAY 27, 2020

But the question arises: Once they’ve been created and backed by central banks, what do you do with them once you have them? As noted in this space last week, about 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) are working on central bank digital currencies (CBDC).

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Central Bank Digital Currency CBDC Settlement 57

The Fintech Times

MAY 26, 2024

Central bank digital currencies (CBDCs), digital money regulated by a country’s central bank, are currently being tested across the world. Yet many central banks have already actioned plans to introduce them. Developed and emerging markets alike are considering the possibility of introducing CBDCs.

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The Fintech Times

SEPTEMBER 27, 2024

Chainalysis , the blockchain data platform, has revealed that the UAE’s small population, when compared to other countries in the Middle East and North Africa (MENA) region, has not prevented it from becoming one of the front-running crypto economies. In many ways, DeFi represents the cutting edge of blockchain technology.

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Clearly Payments

AUGUST 24, 2024

World Bank data indicates that global remittances reached $794 billion in 2023. According to the Bank for International Settlements (BIS), 114 central banks, representing over 95% of global GDP, were engaged in some form of CBDC research or development by the end of 2023.

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Debit Card P2P Cross-Border Central Bank 82

PYMNTS

JULY 7, 2020

Regulators are taking in an interest in stablecoins, with the Financial Action Task Force (FATF) noting in a report the digital currencies need to adhere to norms to offer protection from the terrorism financing and money laundering, Bloomberg reported.

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Debit Card Stablecoins Regulations Blockchain 65

The Fintech Times

SEPTEMBER 9, 2024

Previously hosted by major institutions like the Federal Reserve, Deutsche Bundesbank and the European Central Bank, the workshop has become a central platform for discussions on cutting-edge financial innovations. The event will also explore emerging issues such as consumer protection in the age of generative AI.

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P2P Federal Reserve Central Bank Financial Inclusion 58

PYMNTS

SEPTEMBER 15, 2020

PYMNTS examines the latest initiatives that look to improve upon existing rails, or embrace new ones like blockchain and RTP. Mastercard Leads Central Bank Digital Currency Test. In its announcement, Mastercard also revealed the results of a survey finding that 80 percent of central banks today are in some way engaged in CBDCs.

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RTP Blockchain Distributed Ledger Technology (DLT) Cross-Border 105

PYMNTS

AUGUST 21, 2018

Might it be blockchain’s turn to shine amid pockets of economic turmoil? It’s no secret that blockchain is becoming ever more divorced from bitcoin, with which it has been traditionally associated. Central banks can manipulate interest rates, and can control monetary supply, to an extent.

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Blockchain Stablecoins Central Bank On-Demand 54

The Fintech Times

MAY 29, 2024

Cryptocurrencies, central bank digital currencies (CBDCs) and stablecoins remain prominent and continue to see innovation worldwide; particularly in the Middle East and Africa (MEA). But digital currencies are far from irrelevant.

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Digital Currency CBDC Cross-Border Payments Cross-Border 110

CB Insights

NOVEMBER 5, 2020

Distributed ledger technology (DLT) — which uses tech like blockchain to verify transactions without the need for a centralized authority — is gaining traction as a way to revamp capital markets infrastructure by making it more streamlined, improving transparency, and reducing associated fees. Please click to enlarge.

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Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Blockchain Money Laundering 98

PYMNTS

OCTOBER 4, 2019

At a G20 meeting in the middle of October, European Union finance ministers will reportedly tell their counterparts that a worldwide regulatory response is needed to so-called stablecoins like Facebook’s Libra. Libra — a blockchain-backed cryptocurrency — aims to connect the 1.7 The EU will tell G20 partners at an Oct.

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Stablecoins Finance Multi-Currency Digital Currency 46

CoinRemitter

JULY 9, 2024

From efforts to boost oversight of stablecoin arrangements, to focus on the DeFi space, 2024 promises to be a year of crypto regulatory developments. Stablecoins will take Center Stage Stablecoins are gaining traction among financial institutions worldwide, attracting the attention of regulators also in 2024.

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Stablecoins Financial Crimes Cryptocurrency Money Laundering 40

Fintech News

DECEMBER 11, 2023

This PoC involved executing real-time cross-border test transactions between various Central Bank Digital Currency (CBDC) systems. Meanwhile, the the direct model is where central banks manage wallets and settlements within a centralised CBDC system. The PoC explored two models.

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CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 104

PYMNTS

NOVEMBER 4, 2020

In September, the Office of the Comptroller of the Currency (OCC) clarified the authority for national banks and federal savings associations to hold reserves on behalf of customers who issue stablecoins (those coins have to have a one-to-one relationship with a fiat currency). The Outlook For Stablecoins .

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Bitcoin Cryptocurrency Office of the Comptroller of the Currency Stablecoins 83

PYMNTS

APRIL 24, 2020

China is the first country to launch a central bank digital currency (CBDC) or digital currency electronic payment (DCEP). The digital yuan is structured using a central bank-issued CBDC for commercial banks and a commercial bank-issued CBDC focused on the public.

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CBDC Digital Currency Stablecoins Central Bank 83

Fintech News

JANUARY 9, 2024

While the potential is evident, practical applications for digital currencies and blockchain technology are still emerging. Upsurge of Blockchain and DLT Applications Originally brought into the spotlight by cryptocurrencies like Bitcoin, blockchain technology is now making significant inroads into traditional financial systems.

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Fintech News

JANUARY 30, 2024

Other payment trends in Asia preceding 2024 including the rise of B2B buy now pay later (BNPL), growing prominence of central bank digital currency (CBDC), and prevalence of composable, cloud-based ‘as-a-Service’ IT architecture models have helped shape much of what we anticipate for 2024.

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Payments Trends Digital Currency Cross-Border Payments Distributed Ledger Technology (DLT) 112

Fintech News

NOVEMBER 12, 2024

On asset tokenisation, Chia highlighted the introduction of a stablecoin regulatory framework. The regulatory attributes are finalized, and the central bank is now working on legislation, he said. The launch aligns with Mastercard’s commitment to improving the checkout experience.

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FinTech Cross-Border Payments Cross-Border Payment APIs and Integration 79

Fintech News

MAY 27, 2024

Central bank digital currencies (CBDCs) have largely existed in the virtual realm, with transactions initiated primarily through web and mobile interfaces. MVP in production: interoperability of CBDC, banks, and card networks Astana, the capital of Kazakhstan.

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CBDC Transactions Payment APIs and Integration Cross-Border 113

PYMNTS

JUNE 10, 2020

Maxwell Opoku-Afari, the bank’s first deputy governor, reportedly said during a digital workshop that the bank remains steadfast in facilitating innovation and piloting ideas like a central bank cryptocurrency. A unit in the central bank’s banking department supervised the area prior to 2016.

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Clearly Payments

FEBRUARY 19, 2024

The digital currency and payments market encapsulates various facets, including cryptocurrencies like Bitcoin and Ethereum, central bank digital currencies (CBDCs), stablecoins pegged to real-world assets, digital wallets , and blockchain-based payment networks.

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Process Digital Currency Online and Mobile Banking Payments 71

PYMNTS

OCTOBER 23, 2018

.” The Bank of Canada , TMX Group and Canada’s payment system teamed up for a test to settle and clear mock stocks using the blockchain, Bloomberg reported. The system, intended to be linked with market infrastructure already in place, enabled participants to settle mock securities with mock central bank cash.

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PYMNTS

NOVEMBER 26, 2019

In other news, crypto exchange Bitfinex and its sister firm, stablecoin issuer Tether , have been accused again of manipulating the bitcoin markets. In fact, around 89 percent of blockchain firms in the country have possibly tried to create and issue their own tokens. Department of Justice.

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PYMNTS

OCTOBER 14, 2020

As much as Bitcoin and other cryptocurrencies have attracted scrutiny from the Department of Justice and still lack mainstream acceptance, Voyager’s portfolio of so-called “stablecoins” (which are linked to an underlying currency such as the U.S. Ehrlich said stablecoins, including the U.S.

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PYMNTS

MAY 5, 2019

The New York State Attorney General ( NYAG ) Letitia James wants to see documents regarding an alleged deal made between cryptocurrency exchange Bitfinex and stablecoin operator Tether that “misled their clients and investors.”.

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Cross-Border Cross-Border Payments Digital Currency Bitcoin 54

The Fintech Times

DECEMBER 14, 2023

. “We are championing a new path where Pave Bank customers will get access to the financial products that they are used to, but also a range of digital asset-enabled products which will help them bank more efficiently within a regulated and secure environment.” There are two major trends that led us to create Pave Bank.

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Economy Finance Multi-Currency Regulations 58