Fintech News

SEPTEMBER 11, 2024

Initially, these will use fiat currencies, but Swift plans to eventually integrate tokenised forms of money such as central bank digital currencies (CBDCs) and stablecoins. Swift is also addressing the growing fragmentation in the digital asset ecosystem.

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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 People’s Bank of China (PBOC) is already testing the renminbi, a digital currency it says will extend the yuan’s worldwide reach.

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The Fintech Times

MAY 26, 2024

In recent years, digital currencies have been all the rave. However, the idea that digital assets are exclusively some form of currency is slowly falling by the wayside as different use cases are emerging and being rapidly adopted. Developed and emerging markets alike are considering the possibility of introducing CBDCs.

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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

NOVEMBER 12, 2020

Crypto payment services provider BitPay has unveiled a new mass payout offering, BitPay Send, which lets entities of different sizes make payments to workers, clients, affiliates, suppliers, contractors and others with digital currency, according to a Thursday (Nov. 12) announcement.

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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

MAY 27, 2020

The movement toward digital currencies may be a bit of an arms race of sorts, for now. 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

DECEMBER 26, 2019

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

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PYMNTS

MAY 22, 2020

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. . The digital currency would be backed by the yuan, the Korean won, the Japanese yen and the Hong Kong dollar. .

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PYMNTS

APRIL 24, 2020

The People’s Bank of China (PBOC) is launching a pilot program to trial its new digital currency yuan with 19 local businesses, including the U.S. The digital currency trial is being held in Xiong’an New Area, a city being built south of Beijing. chains Starbucks, Subway and McDonald’s.

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PYMNTS

MAY 22, 2020

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. . The digital currency would be backed by the yuan, the Korean won, the Japanese yen and the Hong Kong dollar. .

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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

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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Clearly Payments

AUGUST 24, 2024

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. Digital cash, whether in the form of cryptocurrencies or central bank digital currencies (CBDCs) , promises to redefine the future of money.

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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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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. trillion by December 2023.

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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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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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Clearly Payments

FEBRUARY 19, 2024

With continued innovation and adaptation, this sector is poised to shape the future of commerce in the digital age. Digital Currency and Payments The emergence of digital currencies and associated payment systems has heralded a paradigm shift in the financial landscape, marked by a diverse array of players, technologies, and applications.

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Fintech News

JANUARY 9, 2024

Traditional financial institutions are showing a growing interest in digital currencies, a trend driven by market dynamics and technological advancements. Some companies that have relied heavily on digital currencies have faced considerable challenges, while venture capital interest has shifted.

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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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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.

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Clearly Payments

JANUARY 4, 2024

As digital currencies grow in popularity , merchants around the world are exploring the potential benefits of accepting payments in cryptocurrency. Among the frontrunners is Bitcoin (BTC), widely recognized as the pioneer in the digital currency space. What are Stablecoins? This is covered in the below section.

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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. I think that is another great example where we do over 150 currencies on the network today. And that is what it is going to look like.

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PYMNTS

FEBRUARY 28, 2020

28) that digital currencies could potentially dry up lending for banks and affect the economy as a whole, according to a report by Reuters. Many central banks around the globe are wrestling with the implications of digital currencies and how they will affect a country’s financial health.

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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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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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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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