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.

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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?

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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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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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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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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.”.

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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.

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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.

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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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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.

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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.

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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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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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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.

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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.

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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).

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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.

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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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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. .

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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.

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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. .

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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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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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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.

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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.

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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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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.

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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”.

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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

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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. New Regulations Could Push Stablecoins Into the Payments Mainstream.

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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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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.

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