Payments Dive

APRIL 17, 2024

Despite political opposition to a potential U.S. central bank digital currency, research staff at the central bank continue to study the possibility.

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PYMNTS

OCTOBER 9, 2020

Cunliffe also told Reuters that he did not think any single approach to a central bank digital currency (CBDC) would end up being the dominating force. “I A May BIS survey of 66 central banks indicated that 80 percent are working on CBDCs. . The Fed also launched an instant payment initiative in August.

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PYMNTS

OCTOBER 19, 2020

The Fed chief made his comments as part of a panel discussion on digital currencies hosted by the International Monetary Fund (IMF). It comes on the heels of an IMF report that raises concerns about growing momentum toward central bank-issued digital currencies (CBDCs). The Fed chief, noting that the U.S.

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PYMNTS

SEPTEMBER 15, 2020

But as to what a CBDC might look like in the eurozone, ECB executive board member Yves Mersch said a speech earlier this year that retail central bank digital currency (CBDC) is a game-changer and that retail CBDCs would be a “main focus.”

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PYMNTS

DECEMBER 18, 2020

In other CBDC efforts, as reported in the fall , China’s central bank issued 10 million yuan ($1.5 Such central bank efforts toward CBDC might soon get a helping hand. This week, FinTech EMTECH said it’s launching a compliance platform in collaboration with Microsoft to help central banks test their respective CBDCs.

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PYMNTS

AUGUST 21, 2020

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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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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Payments Dive

SEPTEMBER 6, 2022

The Fed has an uphill effort ahead in pursuing a central bank digital currency, as evidenced by extensive skepticism from two disparate groups.

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Payments Dive

MAY 25, 2022

digital dollar would take $720 billion in deposits out of banks even if the central bank were to cap accounts at $5,000 per "end user," the American Bankers Association wrote in a letter.

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Payments Dive

MARCH 24, 2022

A digital dollar must ensure user privacy, be "identity verifiable," be "intermediated" and be widely accepted as a means of payment, the central bank chief said Wednesday during a panel discussion hosted by the Bank for International Settlements.

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PYMNTS

SEPTEMBER 17, 2020

But: The bank is keeping an eye on the experiences and progress of other nations, and still is researching its own technological and “policy implications” of wholesale forms of CBDC. Separately, of course, the People’s Bank of China (PBOC) has said that a test of a CBDC rests with small retail transactions — not large-volume transactions.

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PYMNTS

JUNE 23, 2020

According to the announcement, the Bank of Thailand is planning to use central bank digital currency (CBDC) to support funds transfer, with an eye on accelerating supplier payments as an early use-case of the payment system.

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Federal Reserve RTP Payment APIs and Integration Fed 106

PYMNTS

OCTOBER 9, 2020

The idea of a “general purpose” central bank digital currency ( CBDC ) is one that would transcend use cases, exchanges and piecemeal methods where, for example, (tangible) fiat on one side of a transaction is rendered into a digital form and then reconfigured to fiat on the other side of the process. Fed, the Swiss National Bank and others.

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Digital Currency Central Bank CBDC Federal Reserve 70

PYMNTS

FEBRUARY 5, 2020

Brainard said the Fed is currently working on its own 24/7 settlements and payments service, and that it is reviewing around 200 letters it has received on the issue.

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The Payments Association

OCTOBER 14, 2024

The flaws in prevailing central bank digital currency (CBDC) designs and suggestions for improving them. The designs broadly share a set of characteristics that, by and large, reflect a common set of mistaken assumptions that reveal important flaws in the prevailing CBDC proposals. What is this article about? Why is it important?

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CB Insights

JUNE 22, 2018

” Though Bair sees major transitional issues, private sector innovation may force the Fed’s hand towards creating a Fed-issued cryptocurrency. ” Though Bair sees major transitional issues, private sector innovation may force the Fed’s hand towards creating a Fed-issued cryptocurrency.

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Faster Payments Council

MARCH 15, 2023

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. These projects are taking different implementation approaches.

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PYMNTS

AUGUST 21, 2020

Central bank digital currencies (CBDC) are here to stay — if they work. Jim Cunha, senior vice president of secure payments and FinTech at the Federal Reserve Bank of Boston, tells Karen Webster why the Fed is working with MIT to explore digital dollars. Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars.

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PYMNTS

APRIL 15, 2020

Louis Fed Pushes for Mass Testing Over Quarantine. One of the state-owned banks in China has a mobile test app that supports the central bank digital currency of the country. Screenshots of an app that the Agricultural Bank of China (ABC) developed for mobile phones was seen on WeChat on Tuesday (April 14).

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PYMNTS

NOVEMBER 25, 2020

The Value Of CBDC . As noted in this space , for example, Cleveland Federal Reserve President Loretta Mester said in a recent speech that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America.

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Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92

PYMNTS

OCTOBER 9, 2020

Fed, Central Banks Frame Criteria For Digital Currency. However, Jon Cunliffe, deputy governor at the Bank of England (BoE) said that he did not think any single approach to a central bank digital currency (CBDC) would end up dominating. million boost. Plus, Affirm files for an IPO. Amazon India Gets $95.5M

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The Fintech Times

FEBRUARY 26, 2024

As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digital currencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker. The Bank of Canada recently released a report finding widespread public skepticism toward a CBDC.

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PYMNTS

OCTOBER 12, 2020

The BIS noted of central bank digital currency ( CBDC ) that “a CBDC could provide a complementary central bank money to the public, supporting a more resilient and diverse domestic payment system. These principles include that CBDC do not impede monetary policy and “coexist with cash and robust private money.”.

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Tearsheet

FEBRUARY 8, 2024

While many countries worldwide are exploring the potential of Central Bank Digital Currency (CBDC), China continues to expand its e-CNY in the market. China introduced its CBDC to the world at the Olympic Games in February 2022. In the US, the CBDC would be a third form of the US Dollar after paper and coins.

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CBDC Digital Currency Privacy Federal Reserve 59

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. President-elect Joe Biden will push for a $1.9

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Finovate

JANUARY 31, 2024

progress on CBDCs lagging other nations Former President Donald Trump said recently that he would “never allow the creation of a central bank digital currency (CBDC).” created CBDC has plenty of issues – even without the antipathy of the once (and maybe future) U.S. .” Report: U.S. The effort in the U.K.

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