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

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.

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Digital Currency Central Bank CBDC Federal Reserve 97

PYMNTS

OCTOBER 11, 2019

For central banks, when it comes to cryptocurrencies, there’s no central theme. Some central banks are embracing the concept. The overall theme, reported the site, is to look into how “digital central bank money could be used in the settlement of tokenized assets between market participants.”.

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Central Bank Digital Currency Federal Reserve Non-Bank 73

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 121

Payments Source

JULY 1, 2019

The Bank for International Settlements is setting up shop to help officials who may need to speed up developing their own digital currency.

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Central Bank Digital Currency Settlement FinTech 95

PYMNTS

MAY 27, 2020

But the question arises: Once they’ve been created and backed by central banks, what do you do with them once you have them? 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).

Central Bank 57

Central Bank Digital Currency CBDC Settlement 57

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.

Digital Currency 70

Digital Currency Central Bank CBDC Federal Reserve 70

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. In the past four years, 86 percent of central banks have been actively doing some kind of work on CBDCs, according to BIS.

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CBDC Central Bank Financial Inclusion Digital Currency 102

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 Governance 100

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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CBDC Digital Currency Central Bank Governance 114

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.

Digital Currency 96

Digital Currency Central Bank Settlement Cryptocurrency 96

PYMNTS

SEPTEMBER 25, 2020

Mester noted the central bank had been looking into digital currencies even before the pandemic, “building and testing a range of distributed ledger platforms to understand their potential benefits and trade-offs.” Notably, China’s central bank is already developing and testing a national digital currency in the Asian nation.

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Fed Federal Reserve Digital Currency Central Bank 132

PYMNTS

DECEMBER 10, 2019

Policymakers at the European Central Bank (ECB) will meet in Frankfurt on Wednesday (Dec. Lagarde has vocalized that she favors central banks releasing electronic money. Bank of England Governor Mark Carney has even implied that an international central bank coin could supersede the U.S.

Central Bank 54

Central Bank Digital Currency Federal Reserve Stablecoins 54

PYMNTS

AUGUST 14, 2020

A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Digital dollars on the horizon? Maybe – but first comes a focus on policy.

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Digital Currency Fed Federal Reserve CBDC 113

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.

Central Bank 72

Central Bank CBDC Digital Currency Federal Reserve 72

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. ” The submission deadline for digital applications is May 15.

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CBDC Interbank Settlement Digital Currency Central Bank 98

Clearly Payments

AUGUST 24, 2024

World Bank data indicates that global remittances reached $794 billion in 2023. 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.

Debit Card 84

Debit Card P2P Cross-Border Central Bank 84

PYMNTS

APRIL 11, 2018

The central banks of Japan and Hong Kong are interconnecting their systems to support faster cross-border payments and trade between the two markets, according to Reuters reports on Tuesday (April 10). The Bank of Japan announced the plans that reports said may be the first of their kind by any central bank.

Central Bank 46

Central Bank Faster Payments Cross-Border Payments Cross-Border 46

PYMNTS

FEBRUARY 13, 2020

The funding will enable Elliptic to expand across Asia and collaborate with financial institutions for an increased understanding of the cryptocurrency ecosystem. Elliptic, founded in 2013, has become known for cryptocurrency platform tools that help find and block illicit transactions.

Blockchain 100

Blockchain Risk Management Cryptocurrency Central Bank 100

PYMNTS

JANUARY 21, 2021

Raj Chowdhury , CEO of HashCash Consultants, said the platform was intended to "help reduce processing time through instant settlements and safe, online exchange of documents.". With HashCash's solutions, the USA -based bank can protect their data through encryption and blockchain immutability," he said, according to the release.

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Consulting Blockchain Central Bank B2B 93

PYMNTS

NOVEMBER 23, 2020

The upgrade will reportedly make the coin more secure and quicker, meaning “more people and businesses can use ethereum for economic activity, rather than just financial trading,” Ross Middleton , co-founder of cryptocurrency exchange DeversiFi, told Reuters. Bitcoin rose above $18,000 last week for the first time since Dec.

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Central Bank Bitcoin Digital Currency CBDC 52

Fintech Review

NOVEMBER 20, 2024

Almond’s blockchain-driven Settlement Optimization Engine (SOE) addresses critical speed, transparency, and cost challenges in cross-border payments. The SOE optimises transaction routes and provides near-instantaneous settlement for financial institutions globally. One-third of adults don’t have access to a bank.

Cross-Border Payments 115

Cross-Border Payments Cross-Border Multi-Currency FinTech 115

PYMNTS

MARCH 22, 2019

Agustin Carstens, the general manager at the Bank for International Settlements , said that banks shouldn’t issue their own bitcoin-like tokens because it could undermine global financial stability, as well as monetary policy, according to a report by Bloomberg.

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Bitcoin Central Bank Cross-Border Payments Digital Currency 69

PYMNTS

OCTOBER 23, 2020

Amid increased interest in cryptocurrencies from policy makers and central banks due to China's intentions to issue a digital yuan, a Bank of Japan official said the bank’s move to roll out a cryptocurrency would hinged on public support, Bloomberg reported. “At

CBDC 69

CBDC Digital Currency Central Bank Federal Reserve 69

PYMNTS

DECEMBER 4, 2020

They convert their fiat currency into cryptocurrency, which middlemen in Cuba then bid on and pay for in cash to the sellers’ family members in Cuba. In other news, the Bank for International Settlements (BIS) announced Thursday (Dec. according to CryptoNews, citing data from The Havana Consulting Group and Tech.

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CBDC Cryptocurrency Bitcoin Central Bank 61

PYMNTS

DECEMBER 13, 2017

The central bank of Australia is in the midst of considering whether to create bank notes using blockchain, according to news from The Financial Times. The bank notes would, in turn, be distributed by financial institutions.

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Central Bank Electronic Banking Bitcoin Blockchain 43

PYMNTS

JUNE 3, 2019

Among the big banks included in the gang of 14 are, apart from UBS, Barclays PLC, Nasdaq Inc., Credit Suisse Group AG, Bank of New York Mellon Corp., Canadian Imperial Bank of Commerce, State Street Bank & Trust Co., and Sumitomo Mitsui Banking Corp. Each firm has collectively invested £50 million ($63.2

Settlement 53

Settlement Blockchain Cross-Border Cross-Border Settlement 53

PYMNTS

DECEMBER 27, 2020

In a continuing showing of the strength of the cryptocurrency, bitcoin is now valued at $500,000, according to the report. bitcoin has become available at over 16,000 ATMs in December of this year, a press release from East London-based cryptocurrency company BitcoinPoint says. The price of bitcoin has passed $28,000 on Sunday (Dec.

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CBDC Bitcoin Digital Currency Cryptocurrency 101

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).

Digital Currency 89

Digital Currency Central Bank CBDC Deposit Account 89

PYMNTS

MARCH 30, 2018

With fresh concerns about government regulation of cryptocurrency surfacing, Bitcoin and other digital tokens continued the recent declines in value, erasing $550 billion in value for the global cryptocurrency market since the start of 2018.

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Cryptocurrency Bitcoin Regulations Continuity 46

PYMNTS

NOVEMBER 25, 2020

To that end, a Bank for International Settlements ( BIS ) study concludes that “embedded regulation” might offer a solution for stablecoins, defined as cryptocurrencies with values tied to fiat currencies or other assets. Central banks, of course, have been discussing and exploring their own paths toward digital fiat.

Stablecoins 92

Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92

PYMNTS

AUGUST 21, 2020

Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Central bank digital currencies (or CBDCs) have been gathering steam, at least as a concept. Interoperability Is Key.

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CBDC Fed Federal Reserve ISO 20022 107

PYMNTS

DECEMBER 13, 2019

With the belief that it could cause instability within the country’s financial system, the government of Switzerland spoke against making a central bank digital currency available to the public. The Swiss National Bank (SNB) has been doubtful about releasing an electronic Swiss franc.

Digital Currency 40

Digital Currency Central Bank Distributed Ledger Technology (DLT) Money Laundering 40

PYMNTS

SEPTEMBER 15, 2020

Central bank digital coins on the Continent – but plenty of room for cash. In Berlin, where last week saw a two-day meeting of financial officials from Europe, central bankers discussed digital payments and the confines of digital, national currencies.

CBDC 91

CBDC Risk Central Bank Digital Currency 91

PYMNTS

JULY 14, 2020

An international association for central banks has issued a report that “aims to make lasting improvements in cross-border payments.” The move by the Bank for International Settlements (BIS) comes as Facebook gears up to launch a cryptocurrency, Libra.

Cross-Border Payments 60

Cross-Border Payments Cross-Border Central Bank Cryptocurrency 60

PYMNTS

DECEMBER 17, 2019

M10 focuses on creating a digital money solution to help global banks quickly and affordably handle international transfers, settlements and remittances. We offer a single API across all banks,” Kirsch told Webster. Not only that, he said, but such rails essentially keep bankers’ hours, which can impact settlement and clearing.

Central Bank 52

Central Bank Global Payments Cross-Border Payment APIs and Integration 52

PYMNTS

OCTOBER 8, 2019

In other news, $10 billion worth of bitcoin — or almost 7 percent — is currently held in the wallets of eight major cryptocurrency exchanges. Robertson recently agreed to return about C$12 million of assets to Quadriga as part of a settlement. Coin Telegraph reported that Token Analyst found that almost 1.2

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Bitcoin Central Bank Returns Money Laundering 72