Fintech News

DECEMBER 10, 2023

The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.

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PYMNTS

OCTOBER 9, 2020

Beyond bitcoin – that marquee name of crypto and its brethren, which have yet to escape wild price swings and speculative fervor – lies the prospect of CBDCs. India, according to reports earlier this fall, is mulling a ban on cryptos in general, but may indeed look more deeply into a CBDC. of course, is not standing still.

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PYMNTS

SEPTEMBER 17, 2020

The race to develop central bank digital currencies (CBDCs) is underway, but it seems the Reserve Bank of Australia may not be in the running. 17), Australia’s central bank has viewed the issuance of such digital coinage with caution, and even a bit of skepticism.

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PYMNTS

OCTOBER 12, 2020

The recently released report by the Bank for International Settlements ( BIS ) offers a general framework for digital currencies. The BIS noted of central bank digital currency ( CBDC ) that “a CBDC could provide a complementary central bank money to the public, supporting a more resilient and diverse domestic payment system.

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PYMNTS

OCTOBER 19, 2020

Federal Reserve Board Chair Jerome Powell sounded a cautionary note on Monday (Oct. 19) on the bank’s potential rollout of a digital currency. It comes on the heels of an IMF report that raises concerns about growing momentum toward central bank-issued digital currencies (CBDCs).

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PYMNTS

AUGUST 14, 2020

A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Legal issues include whether a CBDC would have status as legal tender.

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PYMNTS

SEPTEMBER 15, 2020

Central bank digital coins on the Continent – but plenty of room for cash. In Berlin, where last week saw a two-day meeting of financial officials from Europe, central bankers discussed digital payments and the confines of digital, national currencies.

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PYMNTS

OCTOBER 23, 2020

Amid increased interest in cryptocurrencies from policy makers and central banks due to China's intentions to issue a digital yuan, a Bank of Japan official said the bank’s move to roll out a cryptocurrency would hinged on public support, Bloomberg reported. “At

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The Paypers

JANUARY 15, 2021

The chairman of the US Federal Reserve has announced that the US is going slow on central bank digital currencies (CDBCs) considering the risks they may pose to the dollar.

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PYMNTS

JANUARY 15, 2021

Federal Reserve Chair Jerome Powell said he isn’t in a rush to adopt a central bank digital currency (CBDC) because of the risks such currencies pose to the status of the dollar, CoinDesk reported. “We We don’t feel an urge or need to be first,” he said of CBDCs, according to the report.

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PYMNTS

JANUARY 21, 2020

And now, for digital currencies, it’s a group effort — among central banks, that is. Up until now, the explorations and considerations of digital currencies — as would be, potentially, issued by central banking systems to bring fiat into digital form — has been done on a country-by-country basis. is joining the CBDC fray.

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PYMNTS

AUGUST 21, 2020

Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Central bank digital currencies (or CBDCs) have been gathering steam, at least as a concept.

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PYMNTS

JANUARY 27, 2021

According to a study by the Bank for International Settlements (BIS), central bank digital currencies (CBDCs) will be available for 20 percent of the world’s population in the next three years. A survey asked banks if they were currently working on CBDCs, additionally asking about their motives.

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PYMNTS

NOVEMBER 12, 2020

Christine Lagarde , European Central Bank (ECB) president, said the ECB could make its own digital currency within a few years, which could change up the eurozone financial sector drastically, Bloomberg reported. Federal Reserve Chair Jerome Powell and Bank of England Gov.

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PYMNTS

FEBRUARY 6, 2020

Central bank leaders from six countries and the Bank for International Settlements (BIS) have planned an April meeting to discuss digital currencies and the parameters involved for launching their own, the Nikkei Asian Review reported on Thursday (Feb. In January, the central banks of the U.K., trillion by 2025.

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Clearly Payments

AUGUST 29, 2024

Central Bank Digital Currencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. This article covers what CBDCs are, how they have evolved until 2024, their impact on payments, and the future they could shape.

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PYMNTS

JUNE 23, 2020

The Clearing House’s RTP finds expansion within the community bank arena, while abroad, the Bank of Thailand is planning its own infrastructure development to accelerate B2B payments. Federal Reserve has introduced a new effort to combat payments fraud. RTP Gains Community Bank Traction. In the U.S.,

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PYMNTS

JUNE 8, 2020

Low interest rates, he said, were the main enticement for people to come and join a new bank — but they would be obsolete in competition against an official digital currency, which could easily process a digital payment the same way. One way Buonomo could see it being done is if a new cryptocurrency were created and issued by a central bank.

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Faster Payments Council

MARCH 15, 2023

The panel will explore some of these initiatives including the New York Fed's CBDC pilot program with major banks, the recently concluded Boston Fed's Project Hamilton and other global CBDC projects. The Federal Reserve is close to launching FedNow. These projects are taking different implementation approaches.

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PYMNTS

JUNE 30, 2020

The hub, which looks to analyze trends in financial tech relevant to central banks, plans to open up locations in Toronto, London, Frankfurt & Paris and Stockholm with the respective central banks in each place, along with a “strategic partnership” in New York with the Federal Reserve.

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The Paypers

MAY 27, 2021

The recently announced Diem USD stablecoin is intended as an interim step until the US Federal Reserve issues a central bank digital currency (CBDC) or digital dollar.

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Faster Payments Council

SEPTEMBER 12, 2022

Speakers: Connie Theien, Federal Reserve Financial Services; Gail Hillebrand, National Consumers League; Syed Ejaz, Consumer Reports; Liana Muller, U.S. The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs.

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PYMNTS

FEBRUARY 5, 2020

The United States Federal Reserve is examining the possibilities and issues surrounding cryptocurrencies and digital payments, which include whether there would be a benefit to the agency issuing a digital currency , according to a report by Reuters.

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PYMNTS

APRIL 15, 2020

In today’s top news, Amazon will lower commission rates for the Amazon Associates program, while one of China’s state-owned banks has a mobile pilot app that supports central bank digital currency. Louis Federal Reserve President James Bullard estimated that the quarantine is costing the U.S.

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PYMNTS

JANUARY 14, 2021

At least it seems so, if recent comments by European Central Bank President Christine Lagarde are any indication. Lagarde stated back in November that the European Central Bank will be able to launch a digital version of the euro within four years. She pointed to the crypto’s use in criminal activity. . —

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Clearly Payments

FEBRUARY 19, 2024

According to the Federal Reserve, cash usage is on the decline, with only 60% of US businesses accepting it as a form of payment. Central banks: Several central banks globally are actively researching and piloting CBDC initiatives, signaling a shift towards digitalization in traditional monetary systems.

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PYMNTS

OCTOBER 16, 2020

Revolut , the European digital bank, is reportedly near applying for a U.S. banking license. The FinTech is reportedly likely to seek a charter with California’s Division of Financial Institutions and the Federal Reserve Bank of San Francisco within the next few weeks. FinTech N26 Mulls New Funding Round.

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PYMNTS

NOVEMBER 25, 2020

The Value Of CBDC . Central banks, of course, have been discussing and exploring their own paths toward digital fiat. The study also posited that CBDCs would “enjoy the backing of the central bank and would not be subject to the same conflicts of interest around the asset backing and stabilization mechanism.

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PYMNTS

AUGUST 21, 2020

In August’s Digital-First Banking Tracker, Jason Powers, senior vice president at Ascend Federal Credit Union, explains how behavioral analytics at the ITM help keep fraudsters away. Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars. The Main Street Rescue That Wasn’t (And Still Isn’t).

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PYMNTS

OCTOBER 9, 2020

The Federal Reserve is collaborating with seven central banks and the Bank for International Settlements (BIS) to hammer out a framework for digital currency. . The central banks working with the BIS include the European Central Bank, the Swiss National Bank and Bank of Japan.

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PYMNTS

OCTOBER 9, 2020

In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5 Fed, Central Banks Frame Criteria For Digital Currency. million boost. Plus, Affirm files for an IPO. Amazon India Gets $95.5M

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Tearsheet

FEBRUARY 8, 2024

While many countries worldwide are exploring the potential of Central Bank Digital Currency (CBDC), China continues to expand its e-CNY in the market. China introduced its CBDC to the world at the Olympic Games in February 2022. In the US, the CBDC would be a third form of the US Dollar after paper and coins.

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PYMNTS

JANUARY 15, 2021

Fed’s Powell: CBDC Will Be Years, Not Months, Away. Federal Reserve Chair Jerome Powell said he isn’t in a rush to adopt a central bank digital currency (CBDC) because of the risks such currencies pose to the status of the dollar. President-elect Joe Biden will push for a $1.9

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Finovate

JANUARY 31, 2024

lags behind its peers when it comes to central bank digital currencies (CBDCs), and learn about U.S. Swiss digital asset bank Sygnum scores new funding Has crypto winter yielded to the year’s first crypto unicorn? .” is falling behind other countries that are exploring or developing CBDCs.

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