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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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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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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SWIFT Multi-Currency CBDC Interoperability 145

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. However, CBDCs will not be the silver bullet to developing and accelerating cross-border payments.

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Cross-Border Payments Cross-Border Digital Currency Central Bank 145

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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Digital Currency Fed Federal Reserve CBDC 113

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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Interbank Settlement CBDC Settlement Use Case 134

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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CBDC Central Bank Settlement Payments 69

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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Digital Currency Central Bank CBDC Fed 142

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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CBDC Digital Currency Central Bank Federal Reserve 69

The Paypers

MAY 31, 2023

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

Cross-Border Settlement 45

Cross-Border Settlement Cross-Border CBDC Settlement 45

Fintech News

JANUARY 21, 2025

Similarly, Project Nexus , spearheaded by the Bank for International Settlements (BIS), aims to improve cross-border payment systems through faster, cheaper, and more transparent transactions. The initiative seeks to establish multilateral linkages of national retail payment systems.

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Payment APIs and Integration Finance Cross-Border API 107

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.

CBDC 114

CBDC Digital Currency Central Bank Governance 114

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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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.

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Central Bank Digital Currency CBDC Cross-Border Payments 105

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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Innovation CBDC Cross-Border Payments Finance 120

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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Central Bank CBDC Digital Currency Federal Reserve 72

Finextra

NOVEMBER 26, 2024

A group of seven central banks (Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Board of Governors of the Federal Reserve System, Sveriges Riksbank and the Swiss National Bank) together with the Bank for International Settlements, have been working together to explore selected aspects of central bank digital currencies (..)

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Central Bank Digital Currency Legal Federal Reserve 85

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

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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CBDC Central Bank Digital Currency Financial Inclusion 102

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.

CBDC 52

CBDC Central Bank Digital Currency Cross-Border 52

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.”.

Digital Currency 97

Digital Currency Central Bank CBDC Federal Reserve 97

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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CBDC Settlement 34

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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CBDC Fed Central Bank Privacy 78

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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CBDC Distributed Ledger Technology (DLT) Visa AML 64

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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Central Bank Digital Currency Visa CBDC 132

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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ISO 20022 CBDC ISOs Interbank Settlement 54

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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CBDC Cryptocurrency Bitcoin Central Bank 61

PYMNTS

JANUARY 26, 2020

Some central banks are banding together to form a group that will study ways and means of issuing central bank digital currencies (CBDC), according to a release by the Bank of England on Jan.

Central Bank 100

Central Bank CBDC Digital Currency Cross-Border 100

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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Distributed Ledger Technology (DLT) Participant CBDC Central Bank 64

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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CBDC Authorization Interbank Settlement Central Bank 53

PYMNTS

FEBRUARY 6, 2020

Central bank leaders from six countries and the Bank for International Settlements (BIS) have planned an April meeting to discuss digital currencies and the parameters involved for launching their own, the Nikkei Asian Review reported on Thursday (Feb. In January, the central banks of the U.K., In January, the central banks of the U.K.,

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Central Bank Digital Currency CBDC Federal Reserve 100

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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Central Bank Digital Currency CBDC Liquidity Risk 76

PYMNTS

OCTOBER 12, 2020

The recently released report by the Bank for International Settlements ( BIS ) offers a general framework for digital currencies. 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.

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Central Bank CBDC FedNow Digital Currency 93

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.

Digital Currency 70

Digital Currency Central Bank CBDC Federal Reserve 70

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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Cross-Border Cross-Border Settlement CBDC Settlement 67