Fintech News

DECEMBER 6, 2023

Singapore and China have agreed to collaborate on a pilot programme that uses the e-CNY, China’s central bank digital currency (CBDC), for cross-border transactions. This programme is designed to ease payments for travelers from both countries during their overseas visits.

Cross-Border Payments 141

Cross-Border Payments Cross-Border CBDC Payments 141

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. However, a significant shift has occurred with the launch of Eurasia’s first CBDC cards in Kazakhstan, providing 20 million consumers with a new, tangible way to manage CBDC funds.

CBDC 129

CBDC Transactions Payment APIs and Integration Cross-Border 129

Payments Dive

NOVEMBER 9, 2022

Central bank digital currencies would allow for faster cross-border payments that would “help boost trade within the region and with the rest of the world,” an Equinix executive writes.

CBDC 125

CBDC Cross-Border Payments Cross-Border Digital Currency 125

Fintech News

DECEMBER 11, 2023

SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, and Giesecke+Devrient (G+D) successfully completed a proof-of-concept (PoC) on the Universal Digital Payments Network (UDPN). Meanwhile, the the direct model is where central banks manage wallets and settlements within a centralised CBDC system.

CBDC 111

CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 111

Fintech Finance

JANUARY 11, 2024

Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published its latest research report, titled The Practicalities of Cross-Border Payments in a Faster Payments World.

Cross-Border Payments 93

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

Payments Dive

NOVEMBER 10, 2022

Researchers designed a prototype digital currency and blockchain and simulated foreign exchange spot transactions that cleared within 10 seconds, but they said the study doesn’t endorse a CBDC or assume the Fed will issue one.

CBDC 78

CBDC Fed Cross-Border Payments Cross-Border 78

The Fintech Times

MAY 29, 2024

It’s important to note that the regulation of cryptocurrencies varies widely across the MEA region, with some countries banning or severely restricting their use, such as Nigeria, which has opted to promote its own CBDC, the eNaira. 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

Clearly Payments

AUGUST 29, 2024

This article covers what CBDCs are, how they have evolved until 2024, their impact on payments, and the future they could shape. What Are CBDCs? A Central Bank Digital Currency (CBDC) is a digital form built on blockchain technology of a country’s fiat currency issued and regulated by the central bank.

Central Bank 105

Central Bank Digital Currency CBDC Cross-Border Payments 105

PYMNTS

DECEMBER 28, 2020

According to the Bank for International Settlements (BIS), as of July, some 36 central banks published studies on the concept of a central bank digital currency (CBDC) also known as a digital fiat currency, the report stated. “In SWIFT currently expedites cross-border payments for 11,000 banks across more than 200 countries.

Central Bank 142

Central Bank SWIFT Digital Currency CBDC 142

Fintech News

JANUARY 23, 2024

This project is a joint effort with the Hong Kong Monetary Authority (HKMA) and is part of ongoing research into the development of CBDC systems, considering privacy concerns. Featured image credit: Edited from Freepik The post CBDCs, Green Finance Among BIS Innovation Hub Projects Announced for 2024 appeared first on Fintech Singapore.

Innovation 120

Innovation CBDC Cross-Border Payments Finance 120

Fintech News

JANUARY 21, 2025

Initiatives such as ASEAN payment connectivity between Thailand, Singapore, Malaysia, Indonesia and the Philippines, are enhancing economic integration and fostering regional trade by linking real-time payment systems. The initiative seeks to establish multilateral linkages of national retail payment systems.

Payment APIs and Integration 107

Payment APIs and Integration Finance Cross-Border API 107

NFCW

DECEMBER 19, 2023

Chinese visitors will soon be able to use digital yuan for “tourist spending” in Singapore as part of a pilot to test the use of China’s central bank digital currency (CBDC) for cross-border payments.

Cross-Border 125

Cross-Border Cross-Border Payments CBDC Digital Currency 125

The Fintech Times

FEBRUARY 19, 2024

When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. Having discussed the myths , hype and usage of buy now pay later (BNPL), we now turn our focus to cross-border payments. Sean Forward CEO of paytech, payable.

Cross-Border Payments 69

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

The Fintech Times

JUNE 19, 2024

What could it mean for the future of the financial ecosystem, for the crypto space in the region, and the future of a UAE CBDC? ” Enabling innovation and a future CBDC? . ” Enabling innovation and a future CBDC? But what is the significance of its latest decision regarding stablecoins?

CBDC 69

CBDC Stablecoins Regulations Disputes 69

PYMNTS

NOVEMBER 27, 2019

Beau wants to use distributed ledger technology (DLT), and France is considering a central bank digital currency (CBDC). DLT would also help in terms of cross-border payments, he said. He said that “disorderly approaches and heterogeneous adaptations” could happen if the bank didn’t take decisive action.

Central Bank 94

Central Bank Digital Currency Distributed Ledger Technology (DLT) CBDC 94

The Fintech Times

MAY 26, 2024

Andrew Carrier , member of the executive committee at Quant “Privacy remains one of the most important discussion points in the CBDC debate, with the likes of the European Central Bank confirming that it is working on state-of-the-art security measures to ensure privacy protection.

CBDC 98

CBDC Central Bank Privacy Multi-Currency 98

PYMNTS

JUNE 17, 2020

The plan also calls for establishing a “cross-border payment network” that would use digital wallets tied to a free-trade agreement negotiated by Japan, China and South Korea, Nikkei Asian Review said. Mersch said a retail CBDC could be based on deposit accounts opened with a central bank.

Digital Currency 89

Digital Currency Central Bank CBDC Deposit Account 89

Fintech Review

APRIL 24, 2024

The Advantages of CBDCs CBDCs promise to significantly enhance the efficiency of financial transactions. They are poised to streamline cross-border payments , making them quicker and more secure: Key factors in today’s globally connected economy. The post What are CBDCs?

Central Bank 91

Central Bank CBDC Cross-Border Payments Cross-Border 91

PYMNTS

DECEMBER 14, 2020

The Modern Central Bank Sandbox, according to the release, will help smooth out challenges in banking with things like "exclusion, KYC, SME lending, cross-border payments, AML/fraud," and will also enable them to innovate safely with effective oversight and quicker time to market.

Central Bank 93

Central Bank Cross-Border Payments CBDC Cross-Border 93

Fintech News

DECEMBER 13, 2024

Its utility spans cross-border payments, digital wallet top-ups via Grab, and reduced currency conversion costs for businesses and traders in Southeast Asia. Singapores progressive regulatory framework, underpinned by the Monetary Authority of Singapores Payment Services Act, has significantly bolstered XSGDs adoption.

Stablecoins 107

Stablecoins Cross-Border Cross-Border Payments Caps 107

Fintech News

APRIL 28, 2024

Kasikornbank, JP Morgan team up to improve cross-border payments Thailand’s Kasikornbank, in partnership with JP Morgan, introduced Project Carina, a new initiative aimed at accelerating cross-border payments, increasing transparency and cutting costs by leveraging blockchain technology.

Payment APIs and Integration 114

Payment APIs and Integration Cross-Border Cross-Border Payments Financial Inclusion 114

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.

FinTech 107

FinTech Cross-Border CBDC Web 3.0 107

The Fintech Times

JUNE 6, 2024

This project aims to create a multi-central bank digital currency (CBDC) platform for instant cross-border payments and settlements, leveraging distributed ledger technology (DLT). The platform now invites further international participation and private sector proposals for value-added solutions.

Participant 45

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

The Fintech Times

AUGUST 6, 2024

Similar to other regions across Asia, mobile payments are now preferred as a payment method over card payments by 70 per cent of Thai consumers. QR codes have also become a popular payment method in Thailand. Supporting startups Thailand is also investing significant resources into its wider startup ecosystem.

FinTech 116

FinTech Distributed Ledger Technology (DLT) Cross-Border Cross-Border Payments 116

Faster Payments Council

MARCH 15, 2023

Some are retail, some are wholesale, some are domestic, some are regional, and some are cross border. 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.

FPC 88

FPC ISO 20022 Cross-Border Payments Federal Reserve 88

Faster Payments Council

SEPTEMBER 12, 2022

The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs. The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs.

FPC 88

FPC Federal Reserve Cross-Border Payments Faster Payments 88

Fintech News

JANUARY 30, 2024

Super apps with embedded finance capabilities have been one of the dominant payments across Asia even before 2024. So what are five of the pivotal payment trends in Asia heading into 2024, and how will they be a difference maker?

Payments Trends 117

Payments Trends Digital Currency Cross-Border Payments Distributed Ledger Technology (DLT) 117

Fintech News

MARCH 5, 2024

The session will shed light on the regulator’s drive towards innovation, transparency, and collaboration, highlighting initiatives like mBridge for cross-border CBDC payments and the successful real-time payments between PromptPay in Thailand and PayNow in Singapore. 7 CBDCs – The New Frontier of Money?

Embedded Finance 107

Embedded Finance APACS Financial Inclusion CBDC 107

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.

Treasury 84

Treasury Cross-Border Cross-Border Payments Interoperability 84

PYMNTS

MARCH 22, 2019

There are other downsides to central bank-issued digital currency (CBDC), he explained. CNBC said the move comes as at least some banking operations across the industry are transformed in part by blockchain , which might change the way everything from debt to cross-border payments gets done, and where speed is of the essence.

Bitcoin 69

Bitcoin Central Bank Cross-Border Payments Digital Currency 69

Clearly Payments

JANUARY 4, 2024

Ethereum (ETH) stands out not only as a cryptocurrency but also for its smart contract capabilities, enabling more complex and automated payment processes. Ripple (XRP), designed with a focus on facilitating cross-border payments, has gained traction for its speed and efficiency.

Cryptocurrency 105

Cryptocurrency Stablecoins Cross-Border Payments Digital Currency 105

Fintech News

MARCH 5, 2024

The session will shed light on the regulator’s drive towards innovation, transparency, and collaboration, highlighting initiatives like mBridge for cross-border CBDC payments and the successful real-time payments between PromptPay in Thailand and PayNow in Singapore. 7 CBDCs – The New Frontier of Money?

Embedded Finance 98

Embedded Finance APACS Financial Inclusion CBDC 98

PYMNTS

NOVEMBER 25, 2020

And in terms of use cases, stablecoins that are global in scope can be useful in cross-border payment transactions and in eCommerce. The Value Of CBDC . Embedded supervision, according to the report, should seek to reduce the costs of compliance, thus “leveling the playing field” for small and large institutions.

Stablecoins 92

Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92

The Fintech Times

APRIL 23, 2024

The gateway launch also follows successful endeavours such as the central bank digital currency (CBDC) trial in December 2023 and an agreement to enable JCB acceptance for all HLB merchants. This collaboration underscores their ongoing partnership, which began with the signing of an agreement in January 2022.

Payment Gateways 59

Payment Gateways Gateways Payment APIs and Integration Cross-Border Payments 59

Fintech News

JANUARY 9, 2024

Blockchain promises increased transparency, security, and efficiency across various applications, from payment transactions to smart contracts. A notable indicator of this shift is the growing preference for cross-border payment solutions built upon blockchain technology, particularly within the APAC region.

APACS 110

APACS FinTech Digital Currency Blockchain 110

PYMNTS

JANUARY 14, 2021

She added that “if the technology can facilitate cross border payments, which are very laborious in quite a few corners of our big world, then we should explore it.”. The idea, then, seems to be that digital fiat would be preferable to crypto in the ever-expanding bid to take commerce (particularly commercial commerce) digital.

Money Laundering 61

Money Laundering Bitcoin Regulations Central Bank 61

The Paypers

FEBRUARY 24, 2021

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have worked together to study the application of central bank digital currencies (CBDC).

Digital Currency 28

Digital Currency Central Bank Cross-Border Payments Cross-Border 28