Finextra

FEBRUARY 19, 2024

The European Central Bank says banks are "barking up the wrong tree" when they fret over the impact of deposit flight from a future digital euro, arguing instead that stablecoins and electronic money institutions pose more of a threat to the deposit base.

CBDC 115

CBDC Stablecoins Central Bank 115

Fintech Finance

NOVEMBER 21, 2024

UDPN is a DLT-underpinned messaging backbone focused on providing interoperability between the fast-growing number of different regulated stablecoins, tokenized deposits, and CBDCs, and seamless connectivity between any business IT system and regulated digital currencies.

Payment Networks 87

Payment Networks Digital Payments Stablecoins Digital Currency 87

The Fintech Times

MAY 26, 2024

Andrew Carrier , member of the executive committee at Quant “Privacy remains one of the most important discussion points in the CBDC debate, with the likes of the European Central Bank confirming that it is working on state-of-the-art security measures to ensure privacy protection.

CBDC 98

CBDC Central Bank Privacy Stablecoins 98

Payments Dive

OCTOBER 21, 2022

The regulator’s acting chief discussed their potential effect on community banks, interplay with FedNow and a potential CBDC, the importance of inclusion and the limits of regulation.

FedNow 95

FedNow CBDC Stablecoins Community Banks 95

Finextra

FEBRUARY 19, 2024

The European Central Bank says banks are "barking up the wrong tree" when they fret over the impact of deposit flight from a future digital euro, arguing instead that stablecoins and electronic money institutions pose more of a threat to the deposit base.

CBDC 93

CBDC Stablecoins Central Bank 93

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.

Stablecoins 92

Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92

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.

CBDC 67

CBDC Use Case Privacy Cryptocurrency 67

The Fintech Times

MAY 29, 2024

Cryptocurrencies, central bank digital currencies (CBDCs) and stablecoins remain prominent and continue to see innovation worldwide; particularly in the Middle East and Africa (MEA). Central bank digital currencies CBDC initiatives have garnered interest across both the Middle East and Africa, as evidenced by the CBDC landscape below.

Digital Currency 110

Digital Currency CBDC Cross-Border Payments Cross-Border 110

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.”.

CBDC 67

CBDC Fed Federal Reserve Central Bank 67

PYMNTS

NOVEMBER 12, 2020

And, Andrew Bailey , the governor of the Bank of England , said he doesn’t think stablecoins are fit for broad use or have the ability to be trusted as a secure store of value, Reuters reported.

Stablecoins 110

Stablecoins Bitcoin Digital Currency CBDC 110

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.

CBDC 28

CBDC Stablecoins Digital Currency Central Bank 28

The Paypers

JULY 27, 2023

US-based blockchain company Ripple has partnered with Republic of Palau to launch a USD-backed Palau Stablecoin (PSC) on the XRP Ledger.

CBDC 69

CBDC Stablecoins Blockchain 69

Fintech News

JANUARY 23, 2024

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.

Innovation 116

Innovation Cross-Border Payments CBDC Finance 116

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.

Stablecoins 34

Stablecoins Federal Reserve CBDC Digital Currency 34

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. The release says the step will help CBDC reach wider audiences, beginning with corporate entities.

CBDC 98

CBDC Cross-Border Digital Payments Digital Currency 98

PYMNTS

APRIL 24, 2020

China is the first country to launch a central bank digital currency (CBDC) or digital currency electronic payment (DCEP). The digital yuan is structured using a central bank-issued CBDC for commercial banks and a commercial bank-issued CBDC focused on the public.

CBDC 83

CBDC Digital Currency Stablecoins Central Bank 83

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. Tether (USDT) and USD Coin (USDC) are the leading stablecoins, with a combined market capitalization exceeding $100 billion in 2023.

Debit Card 84

Debit Card P2P Cross-Border Central Bank 84

The Payments Association

DECEMBER 2, 2024

On the other hand, they may disrupt existing payment infrastructures, requiring firms to adapt their systems and develop new strategies to remain relevant in a CBDC-driven world. Cilliers believes the excitement around CBDCs, especially across the Atlantic is justified. “I

Embedded Finance 88

Embedded Finance Payments Fraud Detection AI 88

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.

APACS 119

APACS Regulations Stablecoins Cryptocurrency 119

The Paypers

JUNE 8, 2021

Bank of England has launched a discussion paper to set out the Bank’s emerging thoughts on new forms of digital money, which include both systemic stablecoins and a UK CBDC.

CBDC 41

CBDC Stablecoins 41

CoinRemitter

JULY 9, 2024

From efforts to boost oversight of stablecoin arrangements, to focus on the DeFi space, 2024 promises to be a year of crypto regulatory developments. Stablecoins will take Center Stage Stablecoins are gaining traction among financial institutions worldwide, attracting the attention of regulators also in 2024.

Stablecoins 40

Stablecoins Financial Crimes Cryptocurrency Money Laundering 40

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.

Cryptocurrency 116

Cryptocurrency Stablecoins Digital Currency Regulations 116

PYMNTS

MAY 27, 2020

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). He pointed to the concept of synthetic central bank digital currencies ( CBDC ).

Central Bank 57

Central Bank Digital Currency CBDC Settlement 57

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 Central banks started aggressively stepping up plans for an electronic currency after Facebook announced plans in 2019 for the stablecoin libra.

Digital Currency 104

Digital Currency Central Bank Fed Federal Reserve 104

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 OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces.

Digital Currency 64

Digital Currency Cross-Border Settlement Bitcoin Central Bank 64

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.

FinTech 104

FinTech Cross-Border CBDC Web 3.0 104

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 OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces.

Digital Currency 56

Digital Currency Cross-Border Settlement Bitcoin Central Bank 56

The Fintech Times

FEBRUARY 19, 2024

. “Additionally, central banks are exploring innovative solutions such as CBDC privacy (e.g, “Founders looking to start businesses in this vast space, should keep two big trends in mind: Stablecoins “Firstly, stablecoin-based cross-border money transfer has created lots of opportunities: Parts of the world (e.g

Cross-Border Payments 68

Cross-Border Payments Cross-Border Stablecoins Multi-Currency 68

PYMNTS

DECEMBER 26, 2019

The intent is to start a fully-fledged central bank digital currency (CBDC). The bank stressed that the digital currency is not a cryptocurrency or a stablecoin — instead, it’s just a digital version of the existing paper currency, intended to help smooth things over for people without access to a physical bank, according to CoinDesk.

Digital Currency 83

Digital Currency Central Bank CBDC Stablecoins 83

Finovate

DECEMBER 22, 2023

EMTECH, a company that provides infrastructure for central banks, provided a CBDC hackathon as part of a pilot project with the Bank of Ghana. Brazilian neobank Nubank partnered with Circle to introduce the USDC stablecoin to its customers in Brazil. Sub-Saharan Africa Mastercard launched new contactless payment solutions in Nigeria.

Financial Inclusion 63

Financial Inclusion Automation AI Financial Crimes 63

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.

FinTech 113

FinTech Financial Literacy Cross-Border Distributed Ledger Technology (DLT) 113

Clearly Payments

FEBRUARY 19, 2024

The digital currency and payments market encapsulates various facets, including cryptocurrencies like Bitcoin and Ethereum, central bank digital currencies (CBDCs), stablecoins pegged to real-world assets, digital wallets , and blockchain-based payment networks.

Process 72

Process Digital Currency Online and Mobile Banking Payments 72

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.

Payments Trends 116

Payments Trends Digital Currency Cross-Border Payments Distributed Ledger Technology (DLT) 116

Fintech News

JANUARY 9, 2024

Source: Monetary Authority of Singapore Several nations within the APAC region, including Singapore and Japan , are actively exploring Web3 digital assets and stablecoins. The central bank of Singapore has announced plans to pilot the issuance and use of wholesale central bank digital currencies (CBDCs) in the coming year.

APACS 102

APACS FinTech Digital Currency Blockchain 102

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. So, we have prototyped things like “how do you settle in a stablecoin versus a traditional fiat currency”. And that is what it is going to look like.

Visa 52

Visa Technology Payments Encryption 52

Clearly Payments

JANUARY 4, 2024

What are Stablecoins? Stablecoins represent a crucial innovation within the cryptocurrency space, designed to address the inherent volatility associated with traditional cryptocurrencies like Bitcoin and Ethereum. One common type of stablecoin is pegged to a fiat currency, such as the US Dollar or Euro, with a 1:1 ratio.

Cryptocurrency 81

Cryptocurrency Stablecoins Cross-Border Payments Digital Currency 81

PYMNTS

FEBRUARY 28, 2020

According to Cunliffe, one of the dangers was that stablecoins and cryptocurrency that is linked to social media platforms could cause people to move their money away from banks and into virtual wallets. “In That would be a change with profound economic consequences.”.

Digital Currency 95

Digital Currency Stablecoins Central Bank Money Laundering 95