Central banks embark on tokenisation project
Finextra
APRIL 22, 2024
The Bank for International Settlements together with seven central banks is embarking on a major project to explore tokenisation of cross-border payments.
Central Bank Related Topics 
Hackers steal $17 million from Central Bank of Uganda
Finextra
NOVEMBER 28, 2024
Hackers have breached the Central Bank of Uganda's firewalls and stolen $17 million from Treasury accounts.
Central Bank 
119
119 
ECB conducts first DLT trials for wholesale central bank money settlement
Finextra
MAY 14, 2024
The Eurosystem has begun the first of a series of trials to test the use of ditributed ledger technology (DLT) for the settlement of wholesale transactions in central bank money.
Central Bank 144
144 
Australia Central Bank Unveils 3-Year Digital Money Plan
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.
Central Bank 125
125 
ECB preps DLT trials for wholesale central bank money settlement
Finextra
APRIL 8, 2024
The European Central Bank has put together a host of participants for exploratory work on the use of distributed ledger technology to settle wholesale transactions in central bank money.
Central Bank 126
126 
Swedish central bank calls for legislation to protect cash
Finextra
MARCH 14, 2024
Even as cash usage continues to fall in Sweden, legislation is needed to ensure that people can pay with notes and coins, says the central bank governor.
Central Bank 127
127 
Eurosystem and 5 Asian Central Banks Advance Project Nexus Implementation
Fintech News
OCTOBER 23, 2024
Central banks and instant payment system (IPS) operators from India, Malaysia, the Philippines, Singapore, and Thailand will collaborate with BISIH to move towards live implementation. The BIS Innovation Hub (BISIH) Singapore Centre has announced the next phase of Project Nexus , aimed at making instant cross-border payments a reality.
Central Bank 128
128 
Central banks form steering organisation to oversee roll out of Project Nexus
Finextra
NOVEMBER 5, 2024
The five central bank partners in Project Nexus, a Bank for International Settlements initiative to interlink domestic real-time payment rails across borders, are to establish a managing entity, the Nexus Scheme Organisation (NSO), which will oversee the project in its live implementation stages, in Singapore.
Central Bank 134
134 
Central banks must raise game in face of AI - BIS
Finextra
JUNE 25, 2024
Central banks should embrace artificial intelligence to sharpen their analytical tools in pursuit of financial and price stability, according to the Bank for International Settlements.
Central Bank 122
122 
Vietnam Central Bank Warns of Phishing Emails Requesting Biometric Data
Fintech News
AUGUST 27, 2024
The State Bank of Vietnam (SBV) has recently alerted the public about a series of phishing scams involving imposters posing as the central bank. Featured image credit: Edited from Freepik The post Vietnam Central Bank Warns of Phishing Emails Requesting Biometric Data appeared first on Fintech Singapore.
Phishing 120
120 
European Central Bank set to Stress Test 109 Banks to Assess Cyberattack Response and Recovery
The Fintech Times
JANUARY 6, 2024
The European Central Bank (ECB) has revealed plans to carry out cyber resilience stress tests on 109 of the banks it directly supervises in 2024, to assess how they both respond to and recover from a cyberattack. Instead, in the stress test scenario, a cyberattack succeeds in disrupting a bank’s daily business operations.
Central Bank 141
141 
BIS and 7 Central Banks Launch Project Agorá for Tokenised Cross-Border Payments
Fintech News
APRIL 3, 2024
The Bank for International Settlements (BIS) , in concert with seven prominent central banks, has embarked on an exploratory project known as Project Agorá aiming to modernise international monetary transactions. Being a member of the IIF is not a requirement to participate.
Central banks explore tokenisation of cross-border payments
Finextra
APRIL 3, 2024
A collection of seven central banks are working with the Bank for International Settlements to explore tokenisation of cross-border payments.
Indonesia, South Korea Central Banks Ink Cross-Border Payments MOU
Fintech News
JULY 15, 2024
Bank Indonesia (BI) and the Bank of Korea (BoK) have signed a memorandum of understanding (MOU) on cross-border payments. This MOU follows the 2022 bilateral cooperation agreement on central banking and was signed by BI Governor Perry Warjiyo and BoK Governor Rhee Chang Yong.
Central banks adopt LLMs to extract climate risk data from corporate reports
Finextra
MARCH 19, 2024
The Bank for International Settlements has completed proof-of-concept testing of Project Gaia, an initiative conducted in concert with three central banks to explore the use of natural language processing, optical character recognition and machine learning to extract climate-related data from corporate reports.
Central Bank 123
123 
Accenture Invests in EMTECH to Modernize Central Bank Operations
Fintech Finance
SEPTEMBER 10, 2024
Accenture (NYSE: ACN) announced that it has invested in EMTECH , a global financial technology company that provides software-as-a-service platforms to help central banks streamline, connect and modernize their processes and operations. Terms of the investment were not disclosed.
Central Bank 98
98 
Central Bank of Brazil Approves PayRetailers’ Acquisition of Transfeera
Fintech Finance
DECEMBER 20, 2024
The Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil (BCB) have officially approved the acquisition of Transfeera , a fintech specialised in payment solutions for businesses, by PayRetailers , a leading payments processor in Latin America and Africa.
Central Bank 91
91 
German Central Bank Joins MAS-Led Project Guardian
Fintech News
NOVEMBER 11, 2024
As a member of the Project Guardian policymaker group, the Bundesbank will contribute to cross-border collaboration by working with other central banks and institutions to develop common standards and improve interoperability for this emerging technology.
Central Bank 125
125 
Indonesia and UAE Central Banks Expand MOU on Islamic Finance, Digital Innovation
Fintech News
DECEMBER 5, 2023
The Bank Indonesia (BI) and Central Bank of the United Arab Emirates (CBUAE) have signed a Memorandum of Understanding (MOU) to enhance collaboration in various central banking sectors, including Islamic finance.
Central Bank 113
113 
BIS: Central Banks Need to Embrace the AI Era to Stay Ahead of Financial Efficiency
Fintech News
JULY 4, 2024
As artificial intelligence (AI) rapidly transitions from a nascent development to a ubiquitous technology accelerating advancements across the financial landscape, far-reaching implications for central banks worldwide are quickly emerging.
Central Bank 99
99 
Central banks to test FX settlement in wCBDC
Finextra
JUNE 4, 2024
The Bank for International Settlements (BIS) is launching Project Rialto to explore how instant cross-border payments could be improved using a modular foreign exchange component combined with settlement in wholesale central bank digital currencies (wCBDC).
Central Bank 98
98 
No Formal Permit Application for Alipay+ to Operate in Indonesia, Says Central Bank
Fintech News
APRIL 24, 2024
Despite recent discussions with Indonesian officials, including a meeting with the country’s communications minister, a formal request to operate Alipay+ within Indonesia has yet to be submitted to the central bank.
Central Bank 109
109 
Singapore and China Central Banks Bolster Green Finance Cooperation
Fintech News
MAY 21, 2024
The post Singapore and China Central Banks Bolster Green Finance Cooperation appeared first on Fintech Singapore.
Central Bank 109
109 
Ravi Menon to Chair GFTN, Former Central Bank Governors Join Advisory Board
Fintech News
NOVEMBER 5, 2024
The post Ravi Menon to Chair GFTN, Former Central Bank Governors Join Advisory Board appeared first on Fintech Singapore. Sopnendu Mohanty, MAS’s current Chief Fintech Officer, will assume the role of Group CEO on 1 February 2025.
Central Bank 109
109 
How central bank digital currencies (CBDCs) can enhance cross-border payments
The Payments Association
SEPTEMBER 16, 2024
Central bank digital currencies (CBDCs) could transform cross-border payments by reducing costs, improving efficiency, and enhancing transparency. Read more
Russia's central bank to legalise crypto for qualified investors
The Paypers
AUGUST 27, 2024
Russia’s central bank has considered amending the law to introduce a new category of ‘qualified investors,’ which would allow them to trade crypto.
Central Bank 83
83 
Five Applicants Officially Submit Bids for Thai Virtual Bank Licenses, Says Central Bank
Fintech News
SEPTEMBER 23, 2024
The post Five Applicants Officially Submit Bids for Thai Virtual Bank Licenses, Says Central Bank appeared first on Fintech Singapore. Featured image: Somchai Lertlarpwasin, Assistant Governor of the Financial Institutions Policy Group at BOT.
Central Bank 105
105 
Central banks prove use case for embedding compliance into cross-border transactions
Finextra
OCTOBER 28, 2024
The Bank for International Settlements (BIS) along with central banks in Australia, Korea, Malaysia and Singapore have successfully demonstrated the feasibility of embedding regulatory compliance requirements with cross-border financial transactions.
Cross-Border 83
83 
Nuvei Secures Retail Services Category II License From the Central Bank of the UAE
Fintech Finance
JUNE 25, 2024
” Fayer added: “We extend our gratitude to the Central Bank of the UAE for its in-principle approval of our Retail Payment Services License and facilitating this opportunity. The post Nuvei Secures Retail Services Category II License From the Central Bank of the UAE appeared first on Fintech Finance.
Central Bank 90
90 
Norway Joins TIPS, Adding Norwegian Krone to Eurosystem’s Instant Payment Service
Fintech Finance
NOVEMBER 29, 2024
The European Central Bank (ECB) and Norges Bank signed an agreement for Norway to join the Eurosystem’s TARGET Instant Payment Settlement (TIPS) service. TARGET Services are developed and operated by the Eurosystem and rely on central bank money to facilitate transfers between banks, businesses and individuals.
Instant Payments 138
138 
Banks push back against CBDC
Payments Dive
AUGUST 29, 2022
The nation’s biggest bank and bank trade groups stressed the risks of creating a central bank digital currency in comments to the Fed, and largely rejected the idea that a digital dollar would accomplish stated goals.
CBDC 213
213 
Congressional committee passes bill to thwart CBDC
Payments Dive
SEPTEMBER 25, 2023
The House Financial Services Committee advanced a bill last week that would block the creation of a central bank digital currency.
CBDC 193
193 
Sweden's central bank threatens banks with legislation to protect access to cash
Finextra
SEPTEMBER 16, 2024
Sweden's Riksbank is threatening banks with the propect of regulation to ensure business access to cash services.
Central Bank 119
119 
Digital dollar bill resurfaces in Congress
Payments Dive
SEPTEMBER 18, 2023
currency, but it wouldn’t be the same as a central bank digital currency. The proposed digital dollar would create an electronic version of the U.S.
Digital Currency 186
186 
European central banks look to GenAI to improve inflation forecasting
Finextra
NOVEMBER 19, 2024
The Bank for International Settlements is working with the European Central Bank and Detusche Bundesbank to explore how generative AI could be applied to improve inflation forecasting.
Central Bank 64
64 
Bank of England presses on with retail CBDC to plug bank innovation gap
Finextra
OCTOBER 28, 2024
The Governor of the Bank of England, Andrew Bailey has re-affirmed his support for a retail central bank digital currency, arguing that central banks are the "only game in town" as commercial banks lack the incentive to push for innovation.
Innovation 145
145 
India in Talks to Forge New Cross-Border Payment Linkages, Says RBI
Fintech News
NOVEMBER 21, 2024
Additionally, the RBI is collaborating with central banks across Southeast Asia to create a platform enabling instant cross-border transactions, aligning with the region’s push for financial integration. India’s initiatives are also closely tied to its exploration of central bank digital currencies (CBDCs).
Sen. Cruz seeks to restrict Fed role for CBDC
Payments Dive
APRIL 1, 2022
Ted Cruz's legislation, which follows a companion House bill introduced earlier this year, would prevent the Federal Reserve from issuing a central bank digital currency directly to consumers.
Federal Reserve 179
179 
Laos and Brunei Joins ASEAN’s Initiative for Real-Time Cross Border Payments
Fintech News
APRIL 3, 2024
The Central Bank of Brunei Darussalam (BDCB) and the Bank of the Lao PDR (BOL) have formally joined the Regional Payment Connectivity (RPC) initiative. This expansion brings the number of ASEAN central banks involved in the RPC to eight, joining the ranks of Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.
NY Fed teams with Singapore on CBDC study
Payments Dive
MAY 22, 2023
The two central banks tested digital ledger technology for payments across multiple currencies in less than 30 seconds.
CBDC 158
158 
ECB will only use European suppliers for digital euro build
Finextra
FEBRUARY 14, 2024
The European Central Bank has been explaining to MEPs its decision to search for possible providers to develop a digital euro platform and infrastructure.
Central Bank 145
145 Central Bank 145
145 
BIS’ Project Agorá Opens to Private Sector for Tokenised Cross-Border Payments
Fintech News
MAY 15, 2024
Project Agorá, an initiative by the Bank for International Settlements (BIS) alongside major central banks and the Institute of International Finance (IIF), is moving forward and inviting private sector involvement. The project aims to explore how tokenisation can improve wholesale cross-border payments.
Fed aims for late end of launch period
Payments Dive
MARCH 16, 2023
The central bank is targeting July, as opposed to the earlier end of its prior range, for starting its new real-time payments service.'
Fed 158
158 
Bank-backed DLT-based CBDC platform Project MBridge reaches MVP stage
Finextra
JUNE 5, 2024
The Bank for International Settlements says it multi-central bank CBDC platform, Project mBrige, is ready to accept value added products and new use cases as it reaches minimum viable product stage (MVP).
CBDC 145
145 
Let's personalize your content