PYMNTS

NOVEMBER 12, 2020

And, Andrew Bailey , the governor of the Bank of England , said he doesn’t think stablecoins are fit for broad use or have the ability to be trusted as a secure store of value, Reuters reported.

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Stablecoins Bitcoin Digital Currency CBDC 110

Finextra

APRIL 22, 2024

This week, the Bank of England’s Sarah Breeden announced that a discussion paper will be released in summer 2024 to draw on input from the private sector to complement the work being conducted on stablecoin regulation and retail central bank digital currency (CBDC).

Stablecoins 75

Stablecoins CBDC Digital Currency Central Bank 75

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.

Stablecoins 92

Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92

PYMNTS

DECEMBER 26, 2019

The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. The intent is to start a fully-fledged central bank digital currency (CBDC). 27) in Exuma. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release.

Digital Currency 83

Digital Currency Central Bank CBDC Stablecoins 83

Finextra

FEBRUARY 19, 2024

The European Central Bank says banks are "barking up the wrong tree" when they fret over the impact of deposit flight from a future digital euro, arguing instead that stablecoins and electronic money institutions pose more of a threat to the deposit base.

CBDC 93

CBDC Stablecoins Central Bank 93

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). CBDC overview across the MEA region in 2024 But why are so many countries adopting CBDC initiatives?

Digital Currency 111

Digital Currency CBDC Cross-Border Payments Cross-Border 111

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. Developed and emerging markets alike are considering the possibility of introducing CBDCs. Yet many central banks have already actioned plans to introduce them.

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CBDC Central Bank Privacy Stablecoins 98

Fintech News

DECEMBER 13, 2024

The growing adoption of stablecoins across Asia marks a significant shift in the regions financial landscape. dollar-pegged stablecoins like USDT and USDC primarily dominate the cryptocurrency topography. Tether (CNHt) Tether CNHt is a stablecoin that is pegged to the offshore Chinese Yuan (CNY). Traditionally, U.S.

Stablecoins 70

Stablecoins Cross-Border Cross-Border Payments Caps 70

Fintech News

JANUARY 23, 2024

Payments and financial security One of the key projects is Project Leap, overseen by the bank’s Eurosystem Centre. Project Promissa, a joint effort with the Swiss National Bank and the World Bank Group, is exploring the tokenisation of promissory notes, aiming to increase the efficiency and transparency of these financial instruments.

Innovation 118

Innovation Cross-Border Payments CBDC Finance 118

PYMNTS

JUNE 19, 2020

The Bank of Thailand plans to work on a new payment system for businesses using Central Bank Digital Currency (CBDC), according to a press release , which will be a step toward readying the business sector for the digital age.

CBDC 98

CBDC Cross-Border Digital Payments Digital Currency 98

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.

CBDC 83

CBDC Digital Currency Stablecoins Central Bank 83

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. dollar is] the reserve currency.”.

CBDC 67

CBDC Fed Federal Reserve Central Bank 67

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).

Central Bank 57

Central Bank Digital Currency CBDC Settlement 57

PYMNTS

NOVEMBER 10, 2020

Treasury Department is researching use cases for a central bank digital currency (CBDC), as well as drafting regulatory proposals for private stablecoins, U.K. Meanwhile, Lebanon Governor Riad Salameh announced that the country will be introducing a CBDC next year, to “restore confidence,” reported Bloomberg.

CBDC 67

CBDC Use Case Privacy Cryptocurrency 67

Fintech Finance

NOVEMBER 21, 2024

UDPN is a DLT-underpinned messaging backbone focused on providing interoperability between the fast-growing number of different regulated stablecoins, tokenized deposits, and CBDCs, and seamless connectivity between any business IT system and regulated digital currencies. Financial innovation is not limited to central banks.

Payment Networks 98

Payment Networks Digital Payments Stablecoins Digital Currency 98

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.

Debit Card 87

Debit Card P2P Cross-Border Central Bank 87

Fintech News

FEBRUARY 27, 2024

2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.

APACS 115

APACS Regulations Stablecoins Cryptocurrency 115

Fintech News

FEBRUARY 28, 2024

Of note, two-thirds (67%) of respondents expressed an interest in trading cryptocurrencies, with a nearly half showing a keen interest in Decentralised Finance (DeFi) and stablecoins. Paxos also supports Chainlink’s PayPal USD (PYUSD) stablecoin issued by Paxos under PayPal’s banner.

Cryptocurrency 116

Cryptocurrency Stablecoins Digital Currency Regulations 116

Fintech News

DECEMBER 20, 2023

Efforts were also made to advance digital assets, tokenization and central bank digital currency (CBDC) experimentation with initiatives such as Project Guardian and Project Orchid expanding to include more use cases and moving towards “live” pilots.

FinTech 104

FinTech Cross-Border CBDC Web 3.0 104

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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Stablecoins Federal Reserve CBDC Digital Currency 34

PYMNTS

MAY 22, 2020

The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces. The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. .

Digital Currency 64

Digital Currency Cross-Border Settlement Central Bank Bitcoin 64

The Paypers

JANUARY 6, 2021

The Stellar Development Foundation (SDF) has signed a deal with Ukraine’s Ministry of Digital Transformation to work on both a central bank digital currency (CBDC) as well as stablecoin and virtual asset infrastructure.

CBDC 28

CBDC Stablecoins Digital Currency Central Bank 28

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.

Payments Trends 120

Payments Trends Digital Currency Cross-Border Payments Distributed Ledger Technology (DLT) 120

PYMNTS

MAY 22, 2020

The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces. The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. .

Digital Currency 56

Digital Currency Cross-Border Settlement Bitcoin Central Bank 56

Fintech News

JANUARY 9, 2024

Source: Monetary Authority of Singapore Several nations within the APAC region, including Singapore and Japan , are actively exploring Web3 digital assets and stablecoins. The central bank of Singapore has announced plans to pilot the issuance and use of wholesale central bank digital currencies (CBDCs) in the coming year.

APACS 102

APACS FinTech Digital Currency Blockchain 102

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.

Process 74

Process Digital Currency Online and Mobile Banking Payments 74

Finovate

DECEMBER 22, 2023

EMTECH, a company that provides infrastructure for central banks, provided a CBDC hackathon as part of a pilot project with the Bank of Ghana. African fintech Bloc launched its business banking solution this week. Mexico’s Banorte announced plans to launch its digital banking product , Banco Bineo in January.

Financial Inclusion 64

Financial Inclusion Automation AI Financial Crimes 64

The Fintech Times

FEBRUARY 19, 2024

. “Additionally, central banks are exploring innovative solutions such as CBDC privacy (e.g, “Founders looking to start businesses in this vast space, should keep two big trends in mind: Stablecoins “Firstly, stablecoin-based cross-border money transfer has created lots of opportunities: Parts of the world (e.g

Cross-Border Payments 69

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

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.

Stablecoins 40

Stablecoins Financial Crimes Cryptocurrency Money Laundering 40

Fintech News

OCTOBER 28, 2024

Finally, the solution integrates the use of stablecoins for instant settlement by enabling real-time, secure payments through stablecoins once escrow conditions in the smart contract are met. Additionally, smart contracts are utilised to automate trade processes and ensure compliance with predefined conditions.

FinTech 117

FinTech Financial Literacy Cross-Border Distributed Ledger Technology (DLT) 117

Wharton Fintech

FEBRUARY 26, 2024

We have done a lot of work with blockchain technology, particularly stablecoin. We have been working with governments on what is called central bank digital currency, or CBDC. So, we have prototyped things like “how do you settle in a stablecoin versus a traditional fiat currency”.

Visa 52

Visa Technology Payments Encryption 52

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. What are Stablecoins? A primary USD stablecoin in USDC (aka USD coin).

Cryptocurrency 83

Cryptocurrency Stablecoins Cross-Border Payments Digital Currency 83

PYMNTS

FEBRUARY 28, 2020

The Deputy Governor of the Bank of England (BoE), Jon Cunliffe, said on Friday (Feb. 28) that digital currencies could potentially dry up lending for banks and affect the economy as a whole, according to a report by Reuters. The Central Bank of China is not a part of the group, although it is releasing a digital currency of its own.

Digital Currency 95

Digital Currency Stablecoins Central Bank Money Laundering 95

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. New Regulations Could Push Stablecoins Into the Payments Mainstream.

Checks 56

Checks CBDC Stablecoins Fed 56

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

Embedded Finance 88

Embedded Finance Payments Fraud Detection AI 88

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 a CBDC Laggard appeared first on Finovate. billion dollar crypto pyramid scheme.

CBDC 64

CBDC PayPal Cryptocurrency Interbank Settlement 64

The Fintech Times

JANUARY 24, 2024

Looking to run for President once again, Donald Trump has made his views on central bank digital currencies (CBDCs) very clear: he will not allow their creation. JUST IN: Donald Trump says "As your president, I will never allow the creation of a Central Bank Digital Currency. ” Is this a popular move?

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CBDC Digital Currency Central Bank Privacy 95