Fintech News

OCTOBER 23, 2024

Australia has unveiled a three-year initiative to explore the potential of central bank digital currencies (CBDCs) with a focus on wholesale CBDC opportunities, industry outreach and regulatory improvements, Brad Jones, Assistant Governor (Financial System) at the Reserve Bank of Australia (RBA), told the audience at an industry event in September.

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PYMNTS

MARCH 30, 2020

The Banque de France is seeking applications “to experiment with a central bank digital currency for interbank settlements,” according to an announcement from the French central bank. Indeed, any decision to create a CBDC is a matter for the Eurosystem.” ” The submission deadline for digital applications is May 15.

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Fintech News

SEPTEMBER 11, 2024

Additionally, its CBDC sandbox projects, involving central and commercial banks from Europe, Asia, and North America, have shown the feasibility of interlinking different CBDC networks.

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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 27, 2020

Japan might look into launching its own central bank digital currency (CBDC) in both the public and private sectors, according to a report from Japan Times. Turkey is planning on piloting its own CBDC in the second half of 2021, according to a report from CoinDesk. The exchange will close trading services on Jan. 10, 2021 at 1 p.m.,

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PYMNTS

AUGUST 14, 2020

The goal, according to Brainard, is to assess potential risks associated with a proposed digital currency (also known as a central bank digital currency or CBDC) and its possible impact within payments. Legal issues include whether a CBDC would have status as legal tender.

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Fintech News

NOVEMBER 21, 2024

India’s initiatives are also closely tied to its exploration of central bank digital currencies (CBDCs). Shaktikanta Das RBI Governor Shaktikanta Das has expressed India’s readiness to assist other nations in developing standards for cross-border payments using CBDCs.

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The Fintech Times

AUGUST 28, 2024

Through the project , HKMA explores financial market infrastructure that facilitates seamless interbank settlement of tokenised money through a wCBDC. Having completed building the sandbox, HKMA will use it to facilitate interbank settlement using experimental tokenised money, focusing on transactions involving these tokenised assets.

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The Paypers

OCTOBER 1, 2022

The central banks of Israel, Norway, and Sweden have partnered the Bank for International Settlements (BIS) to explore CBDC usage in international retail and remittance payments.

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PYMNTS

DECEMBER 18, 2020

As noted in this space in recent months, a Bank of International Settlements (BIS) survey found that a majority of central banks (more than 80 percent) are exploring CBDCs. In other CBDC efforts, as reported in the fall , China’s central bank issued 10 million yuan ($1.5 The money is spendable at a number of retail locations.

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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 Further, the European Union is working on the digital euro, and Sweden is testing its CBDC.

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PYMNTS

OCTOBER 23, 2020

If the technology garners heightened public interest, Masayoshi Amamiya said at the time, there could potentially be a need for issuance of central bank digital currencies (CBDC). However, he stressed he felt believed it was “very important” that the BOJ keep scrutinizing the feasibility of circulating CBDC.

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The Paypers

MAY 31, 2023

Australia-based Monoova has successfully completed the first real-world cross-border settlement using the Australian dollar CBDC.

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Fintech News

JANUARY 23, 2024

The Bank for International Settlements (BIS) has recently announced a new series of projects for its 2024 Innovation Hub programme. 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.

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PYMNTS

DECEMBER 6, 2020

Citigroup will be helping governments around the world establish sovereign digital currencies, or central bank digital currencies (CBDC), CEO Michael Corbat says, according to a report from CoinDesk. Speaking with David Rubenstein at a Bloomberg event on Friday (Dec.

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PYMNTS

AUGUST 21, 2020

Central bank digital currencies (or CBDCs) have been gathering steam, at least as a concept. 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. No Race To Rollout . But a race to a rollout is not in the cards. Interoperability Is Key.

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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

NOVEMBER 27, 2019

The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo! The ECB has been open to the idea, and could already be experimenting.

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PYMNTS

JANUARY 27, 2021

According to a study by the Bank for International Settlements (BIS), central bank digital currencies (CBDCs) will be available for 20 percent of the world’s population in the next three years. A survey asked banks if they were currently working on CBDCs, additionally asking about their motives.

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The Fintech Times

NOVEMBER 4, 2024

These are: Liquidity Foundational infrastructure Standardised frameworks and protocols Common settlement assets Phase one – liquidity The first phase of MAS’ plan to advance tokenisation in financial services is to deepen the liquidity of tokenised assets through the formation of commercial networks.

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PYMNTS

MAY 11, 2020

Speaking at a virtual conference about the future of money, European Central Bank (ECB) executive board member Yves Mersch said a retail central bank digital currency (CBDC) is a game-changer. “A However, a retail CBDC, accessible to all, would be a game-changer, so a retail CBDC is now our main focus.”. We have to be ready.

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PYMNTS

MAY 21, 2020

In remarks made this month to the Consensus 2020 virtual conference , European Central Bank Executive Board Member Yves Mersch noted that about 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) are working on central bank digital currencies (CBDC). So a retail CBDC is now [the ECB’s] main focus.”.

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The Paypers

JANUARY 13, 2022

The Swiss National Bank (SNB), BIS and SIX have successfully tested the integration of wholesale CBDC settlement with commercial banks.

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The Fintech Times

MARCH 7, 2024

Through the new project, Hong Kong Monetary Authority will explore innovative financial market infrastructure (FMI) that will facilitate seamless interbank settlement of tokenised money through a wholesale CBDC. ” As part of Project Ensemble, later this year, HKMA will launch a new wCBDC Sandbox.

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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 9, 2020

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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PYMNTS

NOVEMBER 2, 2020

In other news, the Reserve Bank of Australia (RBA) is exploring the potential of a central bank digital currency (CBDC), in partnership with the National Australia Bank , Commonwealth Bank , Perpetual Limited and ConsenSys Software , the bank announced in a press release. RBA expects to finish the project at the end of this year.

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PYMNTS

JANUARY 20, 2021

In today’s top news in digital-first banking, Banque de France has completed its central bank digital currency (CBDC) test, while roughly 60,000 loans were distributed during the first week of the reopened Paycheck Protection Program (PPP). Banque De France Has Finished CBDC Trial.

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PYMNTS

DECEMBER 4, 2020

In other news, the Bank for International Settlements (BIS) announced Thursday (Dec. Its goal was to examine whether a wholesale central bank digital currency (CBDC) could be issued on a digital asset platform and if the platform could be linked back to an existing wholesale payment system, the announcement stated.

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The Paypers

DECEMBER 22, 2023

The first cross-border settlement for precious metals using the digital yuan CBDC, known as e-CNY, was completed on 20 December 2023.

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Finextra

JULY 19, 2024

Cboe Clear Europe, the largest pan-European clearing house, has successfully participated in the Eurosystem’s recent exploratory work testing the use of new technologies for the settlement of wholesale transactions in central bank money. The experiments specifically aim to explore the potential of distributed ledger technology (DLT).

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PYMNTS

MAY 29, 2019

In fact, Vitas Vasiliauskas, a member of the Governing Council of the ECB and chairman of the board of the Bank of Lithuania, said the real issue at play is whether CBDCs should be retail, wholesale, or a combination of both. ” “Such developments limit the potential added-value of the retail CBDC,” noted Vasiliauskas.

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PYMNTS

OCTOBER 9, 2020

Beyond bitcoin – that marquee name of crypto and its brethren, which have yet to escape wild price swings and speculative fervor – lies the prospect of CBDCs. India, according to reports earlier this fall, is mulling a ban on cryptos in general, but may indeed look more deeply into a CBDC. Beyond that, national efforts are piecemeal.

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PYMNTS

JUNE 17, 2020

Meanwhile, European Central Bank (ECB) board member Yves Mersch said at a recent virtual conference that about 80 percent of 66 central banks queried by the Bank of International Settlements were already working on central bank digital currencies (CBDC).

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The Paypers

JANUARY 19, 2021

UK-based Settlement and Payments Infrastructure provider SETL has announced that Banque de France has successfully completed a CBDC transaction on its platform, according to the official press release.

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PYMNTS

OCTOBER 19, 2020

For his part, Powell said it is important to look at not only the “potential benefits of a CBDC, but also the potential risks, and also recognize the important trade-offs that have to be thought through carefully,” according to the news service. The Fed chief, noting that the U.S.

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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. . 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

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