Remove CBDC Remove Digital Payments Remove Financial Inclusion
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SC Ventures and G+D Complete Pilot on Different Types of CBDC Systems

Fintech News

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.

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G+D Filia® Unplugged Brings Offline Capability to Digital Payments

Fintech Finance

SecurityTech company Giesecke+Devrient (G+D) is making digital payments independent of online connectivity. Even in today’s digital-first economy, connectivity issues can present challenges for digital payment transactions, especially in rural areas. billion unbanked people worldwide.

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Exploring Digital Currencies Across the Middle East and Africa in 2024

The Fintech Times

Much of the Middle East is focused on enabling a cashless economy, with Saudi Arabia’s Vision 2030 setting a target for its financial sector to achieve 70 per cent of non-cash transactions by 2030 and the United Arab Emirates (UAE) actively promoting digital payments. per cent of its population engage with it.

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Universal Digital Payments Network (UDPN) and FORUS Digital Announce Strategic Cooperation to Advance Financial Innovation in Africa

Fintech Finance

Over 350 million adults in Africa live on a cash-only basis ( [link] ), without access to financial accounts, credit cards, or lending facilities. Digital currency systems could prove to be key in improving financial inclusion and opening up new opportunities to large underbanked communities in many African countries.

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Mastercard Leads New Central Bank Digital Currency Test Platform

PYMNTS

9) news release, Mastercard said a recent survey revealed 80 percent of central banks are engaged in some form of CBDCs, while 40 percent have moved from research to experimenting with concept and design, according to by the Bank for International Settlements. In a Wednesday (Sept.

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Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars

PYMNTS

As many as 80 percent of the 66 central banks polled by the Bank of International Settlements said they were at some stage of CBDC development. China has been at the forefront of those efforts, at least as measured in terms of debuting an actual CBDC, and is in the midst of testing its digital yuan in various settings.

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India’s Rise in Fintech: How Digital Payment Infrastructure is Shaping Economic Growth

The Fintech Times

By invalidating these high-denomination bills, the government aimed to reduce illicit cash flows, which accelerated the adoption of digital payments across the country. Accelerating financial inclusion Though demonetisation was abrupt, it accelerated digitalisation in India, with a significant impact on financial inclusion.