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. . The central banks working with the BIS include the European Central Bank, the Swiss National Bank and Bank of Japan.

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Digital Currency Central Bank Fed Federal Reserve 104

PYMNTS

NOVEMBER 10, 2020

PayPal is opening its network to allow consumers to shop using cryptocurrency. As cryptos have garnered more attention in financial services, naturally, governments and central banks have thrown their hats into the ring — and thus digital fiat is seriously under consideration. Square bought $50 million of bitcoin.

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Cryptocurrency Blockchain Bitcoin Online and Mobile Banking 129

PYMNTS

MAY 21, 2020

The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A A central entity may implement a monetary policy and issue currency.

Digital Currency 97

Digital Currency Central Bank CBDC Federal Reserve 97

PYMNTS

OCTOBER 19, 2020

It comes on the heels of an IMF report that raises concerns about growing momentum toward central bank-issued digital currencies (CBDCs). central bank has yet to decide whether to plunge ahead, said that issues need to be vetted, include protecting any new digital currency from cyberattacks, fraud and high-tech counterfeiters.

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Digital Currency Central Bank Fed Federal Reserve 108

PYMNTS

DECEMBER 1, 2020

And, of course, as the pandemic hit, a multitude of central banks took a deep dive into the potential risks and rewards of issuing digital central bank currencies, ranging from digital dollars to euros to, well, pretty much everything. Central bank efforts are good. Stop Before They Start? .

Digital Currency 117

Digital Currency Central Bank Stablecoins Cross-Border Payments 117

PYMNTS

SEPTEMBER 22, 2020

In today’s top payments news around the world, JD.com is working with China’s central bank to advance cryptocurrency, while U.S. JD.com Joins China’s Central Bank To Advance Digital Currency. JD.com has teamed with China’s central bank as the country gets ready to introduce digital currency.

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Central Bank Cryptocurrency Online and Mobile Banking Digital Currency 80

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 11, 2021

CNBC reported that bitcoin (BTC), the largest cryptocurrency by market capitalization, fell over 12 percent from a day earlier, to as low as $30,863. According to Coinmarketcap, the overall value of the cryptocurrency market — or market cap —was $880 billion Monday morning, down from $1.08 Then, on Monday (Jan. Last week (Jan.

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Cryptocurrency Bitcoin Caps Central Bank 91

PYMNTS

OCTOBER 1, 2020

The European Central Bank (ECB) has taken what could be a big first step toward launching a digital currency. The central bank’s legal office has filed an application for the trademark with the European Union Intellectual Property Office, which was confirmed by a spokesman for the ECB, the news service reported.

Central Bank 90

Central Bank Digital Currency Economy Assessments 90

PYMNTS

DECEMBER 26, 2019

The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. The intent is to start a fully-fledged central bank digital currency (CBDC). 27) in Exuma. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release.

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Digital Currency Central Bank CBDC Stablecoins 83

Fintech News

FEBRUARY 28, 2024

In recent years, the landscape of cryptocurrency and digital assets has experienced significant shifts, and Singapore, a nation known for its forward-thinking approach to fintech and digital innovation, is no exception.

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Cryptocurrency Stablecoins Digital Currency Regulations 96

Payments Source

DECEMBER 13, 2020

From brokering insurance contracts to financial settlements, smart contracts could bring immense innovation to CBDCs that otherwise would act as little more than an augmented medium of exchange, says Cypherium's Sky Guo.

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Central Bank Innovation Settlement Federal Reserve 133

PYMNTS

NOVEMBER 23, 2020

Consumers are moving to digital payments and cryptocurrency in droves, and it’s inevitable that more central banks will issue digital forms of currency, PayPal CEO Dan Schulman said in a televised interview on Monday (Nov. And I think you’ll have more and more utility happen with cryptocurrencies,” he predicted.

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Digital Currency PayPal Consumer Cryptocurrency 143

The Fintech Times

MAY 18, 2024

Eurosystem , the monetary authority of the eurozone, has been exploring the possible use cases of distributed ledger technology (DLT) to conduct wholesale settlement in central bank money. Initially, 16 private companies will conduct trials involving actual settlement in central bank money.

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Central Bank Settlement Distributed Ledger Technology (DLT) Interoperability 75

The Paypers

NOVEMBER 27, 2024

Morocco has moved forward with the regulation of cryptocurrencies with a draft law currently under review, according to officials from the country’s central bank.

Cryptocurrency 66

Cryptocurrency Regulations CBDC Central Bank 66

PYMNTS

JUNE 8, 2020

Low interest rates, he said, were the main enticement for people to come and join a new bank — but they would be obsolete in competition against an official digital currency, which could easily process a digital payment the same way. One way Buonomo could see it being done is if a new cryptocurrency were created and issued by a central bank.

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Blockchain Accounts Digital Currency Federal Reserve 135

The Fintech Times

FEBRUARY 9, 2024

Cryptocurrency exchange Kraken has achieved a notable milestone in its European expansion strategy with the recent acquisition of a VASP registration from the Dutch Central Bank (DNB). The post Kraken Bags VASP Registration from Dutch Central Bank, Expanding European Presence appeared first on The Fintech Times.

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Central Bank Regulatory Compliance Cryptocurrency Compliance 64

The Paypers

MARCH 25, 2021

Payment protocol Ripple has released a whitepaper document stating that the cryptocurrency XRP could act as an intermediary to connect different central bank digital currencies (CBDCs).

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Cryptocurrency CBDC Digital Currency Central Bank 72

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). By leveraging cryptocurrencies, these individuals gain access to financial tools and services previously unavailable to them.

Digital Currency 111

Digital Currency CBDC Cross-Border Payments Cross-Border 111

Payments Source

JANUARY 7, 2020

Facebook’s Libra cryptocurrency project has drawn vast political pushback, but also more tangible government action as nations globally consider central bank supported digital currencies. It’s also sparking a potential bottom-up approach in New York.

Digital Currency 112

Digital Currency Central Bank Cryptocurrency Governance 112

PYMNTS

OCTOBER 21, 2020

PayPal has announced that it is jumping into the wild world of cryptocurrency , making it possible for wallet holders to buy, sell and hold cryptocurrencies like bitcoin, ethereum, bitcoin cash and litecoin in their PayPal accounts. Visa was once hesitant when it came to crypto — and held off before offering its full blessing.

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PayPal Cryptocurrency Bitcoin Central Bank 131

PYMNTS

OCTOBER 8, 2020

Bank Of Korea To Begin Testing Distribution Of Digital Currency. The Bank of Korea has indicated that it intends to start experimenting with distribution of its cryptocurrency next year. In April, the central bank said it had rolled out a 22-month test effort that would conclude in December 2021.

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Cryptocurrency Multi-Currency Credit Cards Federal Reserve 98

The Paypers

JUNE 19, 2023

Brazil has signed a decree which clarifies the roles the country’s central bank and securities regulator will have regarding cryptocurrencies.

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Central Bank Regulations Cryptocurrency Security 58

PYMNTS

NOVEMBER 4, 2020

Toward that end, and more mainstream use cases, getting the rails in place to speed and streamline transactions, regardless of the cryptocurrency used, remains key. As spotlighted in this space , Ternio said it has joined Visa’s Fast Track as a cryptocurrency-focused enablement partner.

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Bitcoin Cryptocurrency Office of the Comptroller of the Currency Stablecoins 83

PYMNTS

JANUARY 5, 2021

Trading volumes on cryptocurrency exchanges have been doing extraordinarily well this week, hitting a new record volume of $68.3 Ethereum, the second-biggest cryptocurrency, which usually rises at the same time as bitcoin, also hit its highest level on Monday since 2018, with a $1,170 value, Reuters reported. billion, Reuters reported.

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Volume Bitcoin Cryptocurrency Digital Currency 131

Payments Source

APRIL 13, 2020

Central banks are releasing trillions of dollars to bolster economies through the coronavirus pandemic, giving rise to a pair of trends that could push merchants and consumers to embrace digital currencies as a mainstream payment alternative.

Digital Currency 185

Digital Currency Central Bank Payments Economy 185

PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. Fed, the Swiss National Bank and others.

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Digital Currency Central Bank CBDC Federal Reserve 70

CoinRemitter

MAY 29, 2024

With the rise in digital currencies for payments and transactions, two innovations are much discussed: Central Bank Decentralised Currencies (CBDCs) and cryptocurrencies. Let’s break down the key differences between CBDCs and cryptocurrencies. This will reduce bank deposits and lending activities.

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Cryptocurrency Central Bank Digital Currency Privacy 49

PYMNTS

SEPTEMBER 17, 2020

The race to develop central bank digital currencies (CBDCs) is underway, but it seems the Reserve Bank of Australia may not be in the running. 17), Australia’s central bank has viewed the issuance of such digital coinage with caution, and even a bit of skepticism. As reported by Cointelegraph Thursday (Sept.

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Central Bank CBDC Digital Currency Federal Reserve 72

PYMNTS

MARCH 16, 2020

Alexey Guznov, the Bank of Russia’s head of legal office, said in an interview with a news agency in the country that the institution didn’t think the trading and issuance of digital currency should be legal in its borders. The individual received a penalty of $1,570 and jail time of three years.

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Bitcoin Digital Currency Central Bank Money Laundering 97

Payments Source

FEBRUARY 24, 2021

Governments are digitizing money, creating a need for banks to provide rails to connect consumers and central banks.

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Central Bank Governance Government Consumer 159

PYMNTS

JANUARY 24, 2020

In a move that signals Tokyo’s concern regarding China’s effort to make a digital yuan, as well as Facebook’s Libra, a collection of ruling party legislators is crafting a proposal for Japan to create its own cryptocurrency.

Digital Currency 100

Digital Currency Central Bank Cryptocurrency Government 100

Fintech News

MAY 21, 2024

As the financial landscape undergoes a digital revolution, institutional investors are increasingly turning their attention to digital assets such as cryptocurrencies and Central Bank Digital Currencies (CBDCs). Central Bank Digital Currencies (CBDCs) topped the list, with 33% of respondents foreseeing their widespread adoption.

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Settlement Cryptocurrency Blockchain Digital Currency 124

Fintech News

DECEMBER 5, 2024

Coinbase, the global cryptocurrency platform, plans to introduce stablecoins pegged to the Thai baht and Philippine peso as part of its focus on Southeast Asia, according to a report by Nikkei Asia. The company currently has no plans to directly enter Southeast Asian jurisdictions.

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Stablecoins Cross-Border Payments Cross-Border Blockchain 121

Fintech Review

APRIL 24, 2024

“CBDCs” or Central Bank Digital Currencies are gaining significant traction. They represent the digital form of a nation’s official currency, issued and regulated directly by the central bank. The Advantages of CBDCs CBDCs promise to significantly enhance the efficiency of financial transactions.

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Central Bank CBDC Cross-Border Payments Cross-Border 91

Payments Source

MARCH 4, 2020

Facebook and its partners are considering redesigning the Libra cryptocurrency project so that the network accepts multiple coins, including those issued by central banks, in an effort to woo reluctant global regulators and rebuild momentum for the plan.

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Addressing Central Bank Cryptocurrency Regulations 93

PYMNTS

OCTOBER 12, 2020

China’s central bank is issuing 10 million yuan ($1.5 Unlike bitcoin, the digital yuan is not a cryptocurrency because it is being issued and controlled by China’s central bank, the People’s Bank of China (PBOC). It won’t replace Alipay or WeChat Pay and is expected to work with them as well as other banks.

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Digital Currency Central Bank Settlement Cryptocurrency 96