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. Fed, the Swiss National Bank and others.

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Digital Currency Central Bank CBDC Federal Reserve 70

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. Interoperability Is Key.

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Open Banking Excellence

MAY 2, 2024

Within all our projects – which range from central bank digital currencies (CBDCs) to Know-Your Customer (KYC) APIs – we aim to lower entry barriers for new entrants into the ecosystem. The Georgian banking sector is well-developed, profitable, and significantly foreign-owned.

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The Paypers

SEPTEMBER 1, 2023

India-based YES BANK has gone live with Unified Payments Interface (UPI) interoperability on the Reserve Bank of India (RBI) Central Bank Digital Currency (CBDC) app.

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CBDC Interoperability Digital Currency Central Bank 41

PYMNTS

MAY 11, 2020

Speaking at a virtual conference about the future of money, European Central Bank (ECB) executive board member Yves Mersch said a retail central bank digital currency (CBDC) is a game-changer. “A However, a retail CBDC, accessible to all, would be a game-changer, so a retail CBDC is now our main focus.”.

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Fintech Finance

NOVEMBER 21, 2024

Digital Asset Tokenisation System: Provides a robust production-grade platform for financial institutions, such as banks and investment firms, to tokenise real-world assets and manage them within a regulated environment. Financial innovation is not limited to central banks. by 2024.

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Payment Networks Digital Payments Stablecoins Digital Currency 98

Fintech News

DECEMBER 20, 2023

Developments include cross-border quick response (QR) payment linkages, connectivity between real-time national payment schemes, and the ongoing Singapore Response Code Scheme (SGQR+) project focusing on furthering QR code payment interoperability.

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FinTech Cross-Border CBDC Web 3.0 104

The Fintech Times

NOVEMBER 4, 2024

In 2023, the central bank launched the Global Layer One (GL1) initiative, to help develop foundational digital infrastructures, on which it could deploy commercial networks. Recognising this, MAS is facilitating financial institutions’ access to common settlement assets including S$ wholesale CBDC for market testing purposes.

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CoinRemitter

FEBRUARY 9, 2024

A Central Bank Digital Currency is a country’s official currency, presented in a digital form. It operates on a blockchain network and is issued and backed by the central bank of the respective country. Unlike cryptocurrencies, they’re issued by centralized authorities and can be used as legal tenders.

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Fintech Finance

JANUARY 11, 2024

The Practicalities of Cross-Border Payments in a Faster Payments World also highlights the challenges faced by fintech companies, providing insights into regulatory compliance, security, foreign exchange rate risks, lack of transparency, high costs, interoperability, data privacy, competition with financial institutions, and liquidity management.

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Cross-Border Payments Cross-Border Faster Payments ISO 20022 93

Fintech Finance

MARCH 26, 2024

Interoperability is critical to Swift’s strategy for instant and frictionless transactions. The second phase of sandbox testing went further, exploring more complex use cases, using Swift’s solution to connect and orchestrate transactions across simulated digital trade and tokenised asset and FX networks, alongside CBDCs for payments.

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Cross-Border Use Case SWIFT CBDC 52

PYMNTS

JULY 30, 2020

The Bank of England (BoE) is pushing ahead with an overhaul of a key part of the United Kingdom’s financial payments infrastructure. The new system, slated to debut in 2022, will also have the capability to handle a central bank digital currency (CBDC), such as a digital pound, CoinDesk reports.

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Faster Payments Council

MARCH 15, 2023

Whether we will see these services gain traction is tied to what many believe to be a major hurdle–interoperability. FedNow may not interoperate with RTP, and it doesn't seem to be a priority for either. Some banks may not be able to connect to both. These projects are taking different implementation approaches.

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FPC ISO 20022 Cross-Border Payments Cross-Border 88

PYMNTS

JANUARY 28, 2021

The recent acceleration of central banks’ exploration and development of central bank digital currencies (CBDCs) only adds greater legitimacy to the technology, with Sully pointing to cross-border payments as one of the biggest areas of CBDC disruption — although, he acknowledged, the true impact of this tool is not yet understood.

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Treasury Cross-Border Cross-Border Payments Interoperability 84

The Fintech Times

JUNE 6, 2024

Project mBridge , a collaborative initiative involving multiple central banks and the Bank for International Settlements’ (BIS), h as reached an important development milestone. The Saudi Central Bank (SAMA) has recently joined as a full participant, with over 26 other central banks observing.

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Participant Distributed Ledger Technology (DLT) Cross-Border Payments Cross-Border 45

Faster Payments Council

SEPTEMBER 12, 2022

The panel will discuss issues such as security, governance, and interoperability as well as concerns that the U.S. In this session, FPC QR Code work group leaders address the call to action for payment industry standards needed for universal acceptance and interoperability of QR codes.

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FPC Federal Reserve Cross-Border Payments Faster Payments 88

Fintech News

DECEMBER 10, 2023

The evolving payment landscape Edward underscored that the payment landscape continually evolves, with innovations such as central bank digital currencies (CBDCs) gaining prominence. The impact of CBDCs on payments, financial inclusion, and monetary policy remains an ongoing discussion.

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Addressing Fraud Prevention Financial Inclusion Payments 120

Fintech News

FEBRUARY 27, 2024

The Reserve Bank of Australia (RBA) also played a crucial role by exploring the concept of retail and wholesale Central Bank Digital Currencies (CBDC) through its eAUD pilot programme , which focused on a wide array of use cases and essential legal aspects.

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APACS Regulations Stablecoins Cryptocurrency 115

Fintech News

DECEMBER 13, 2024

These initiatives also seem to complement ongoing efforts to develop Central Bank Digital Currencies (CBDCs), as both digital assets aim to modernise traditional financial systems. Finally, stablecoins face competition from CBDCs, as many governments prioritise CBDC development over private stablecoins.

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Stablecoins Cross-Border Cross-Border Payments Caps 70

The Fintech Times

FEBRUARY 19, 2024

“Additionally, central banks are exploring innovative solutions such as CBDC privacy (e.g, BIS Aurum) and interoperability solutions (e.g, Deutsche Bundesbank Trigger Solution).

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Cross-Border Payments Cross-Border Stablecoins Multi-Currency 69

The Fintech Times

FEBRUARY 26, 2024

As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digital currencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker. “There are some fundamental risks inherent in using CBDCs.

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Cross-Border Payments Cross-Border Digital Currency Central Bank 145

PYMNTS

JANUARY 26, 2020

Bank of France Governor Francois Villeroy de Galhau said on Saturday (Jan. 25) that central banks should be in charge of issuing electronic currency, not private companies, Reuters reported.

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Central Bank CBDC Digital Currency Cross-Border 100

Clearly Payments

JANUARY 4, 2024

Unlike traditional currencies issued by governments and central banks, cryptocurrencies are typically based on blockchain technology, a distributed ledger that records all transactions across a network of computers. Both Canada and the USA are actively exploring CBDCs. This is covered in the below section. What are Stablecoins?

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Cryptocurrency Stablecoins Cross-Border Payments Digital Currency 83

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

SEPTEMBER 8, 2020

The race toward central bank digital currencies (CBDCs) is tightening, with Brazil reportedly looking to launch one by 2022 in a bid to help digitize payments. Roberto Campos Neto, president of Brazil’s central bank, said his country’s new digital currency will work in concert with its new instant-payments system. “To

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Digital Currency Central Bank CBDC Instant Payments 87

Fintech Finance

MARCH 12, 2024

2 The Central Bank of Brazil plans to launch the CBDC DREX by the end of 2024. This would give the population a complement to cash, allowing them to pay digitally and securely without having a bank account. Only in this way can it be a truly inclusive public digital currency.

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CBDC Financial Inclusion Digital Currency Use Case 52

M2P Fintech

MARCH 28, 2024

Central Bank Digital Currency (CBDC) A CBDC represents a nation’s currency in digital form, administered directly by the central bank. Unlike physical cash or bank deposits, CBDCs are purely electronic.

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FinTech Online and Mobile Banking Push-to-Card Payer 59

The Fintech Times

NOVEMBER 23, 2024

Continuing the second phase of piloting its central bank digital currency (CBDC), Drex, the Central Bank of Brazil (BCB) has selected Brazilian digital bank Banco Inter , Microsoft Brazil , blockchain platform Chainlink , and 7COMm , a decentralised finance-focused firm, to build a trade finance solution.

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Fintech News

DECEMBER 15, 2024

Bank Indonesia has announced the successful completion of the Proof of Concept (PoC) for the wholesale Rupiah Digital under its Garuda Project. This marks a critical milestone in the exploration of a Central Bank Digital Currency (CBDC).

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CBDC Distributed Ledger Technology (DLT) ISO 20022 Cross-Border 69

The Payments Association

DECEMBER 2, 2024

The payments industry in 2024 saw rapid evolution, marked by the growing adoption of real-time payments, advances in AI-driven fraud detection, and significant progress in Central Bank Digital Currencies (CBDCs). Cilliers believes the excitement around CBDCs, especially across the Atlantic is justified. “I

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Embedded Finance Payments Fraud Detection AI 88