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Central Bank Cryptocurrency Stablecoins 
PYMNTS
SEPTEMBER 13, 2020
Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported. In a joint statement Friday (Sept. In a joint statement Friday (Sept.
145 
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. Pollak emphasized that stablecoins aim to modernize legacy financial systems rather than replace national currencies.
135 
PYMNTS
SEPTEMBER 5, 2019
In China, the central bank will debut a state-backed cryptocurrency that initially will be issued to seven institutions in that country, Forbes reported this week. The news comes from Paul Schulte, who was head of financial strategy for China Construction Bank. It will be the first central bank to do so.”.
98 
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. Morgan stablecoin, known as JPM Coin, geared toward B2B.
117 
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.
116 
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.
104 
Fintech News
JUNE 19, 2024
Stablecoins have been rising in conversation within the financial ecosystem of Singapore. As the name implies, stablecoins are digital assets designed to maintain a stable value relative to a reference asset, such as the US Dollar or gold.
110 
PYMNTS
JUNE 29, 2020
The European Union (EU) is preparing to update its cryptocurrency rules that could make it more difficult for stablecoin projects, such as Facebook Inc.’s Last fall, the Libra Association petitioned the Swiss Financial Market Supervisory Authority ( FINMA ) for a Swiss payment system license for its planned cryptocurrency.
88 
PYMNTS
NOVEMBER 12, 2020
The price of the cryptocurrency was $16,301.03 It wasn’t immediately known why the cryptocurrency increased in price, but some observers have suggested a connection with the U.S. In other news, the price of bitcoin exceeded the $16,000 price level on Thursday for the first time in nearly three years, CNBC reported. as of 7:17 p.m.
110 
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.
92 
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.
The Fintech Times
JULY 15, 2024
In this article, Akshata Namjoshi, Kabir Kuma, and Ahlam Faouzi from KARM Legal Consultants , the emerging technologies-focused law firm, provide an in-depth analysis of the UAE’s regulatory landscape for stablecoins. Additionally, stablecoins are increasingly being explored for use in payments due to their stability and efficiency.
96 
Fintech News
DECEMBER 13, 2024
The growing adoption of stablecoins across Asia marks a significant shift in the regions financial landscape. dollar-pegged stablecoins like USDT and USDC primarily dominate the cryptocurrency topography. Tether (CNHt) Tether CNHt is a stablecoin that is pegged to the offshore Chinese Yuan (CNY). Traditionally, U.S.
70 
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. The Outlook For Stablecoins .
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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.
115 
Payments Source
JANUARY 28, 2021
The company wants to join in on the rush to develop stablecoins and central bank digital currencies, in part to show that it can still be a player in cutting-edge technologies after its merger deal with Plaid fell through.
130 
PYMNTS
APRIL 21, 2020
The Central Bank of Argentina (BCRA) is trying out blockchain in a new clearing system, and the technology could eventually be used by other large banks, according to CoinDesk. The technology is based on the RSK Smart Contract Network, and IOV made it in connection with the central bank and others, like Santander and BBVA.
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.
111 
PYMNTS
DECEMBER 26, 2019
The Bank of Russia has been testing stablecoins that are attached to real assets, according to reports. The head of the bank, which is Russia’s central bank, said just because they’re testing the coins doesn’t mean they will eventually turn into a money substitute. “We Meanwhile, on Jan.
52 
PYMNTS
JUNE 21, 2019
The head of Germany’s central bank warned about stablecoins, which are cryptocurrencies tied to traditional currencies, according to a report by Reuters. Jens Weidmann said that if the new currency becomes widely used, it could undermine banks. Weidmann has a seat on the European Central Bank’s Governing Council.
59 
PYMNTS
APRIL 14, 2020
The Financial Stability Board (FSB) – the regulatory watchdog of the Group of 20 (G-20) – warned global regulators that possible stablecoin disruptions should be addressed before Facebook’s Libra is released, according to a consultation report released on Tuesday (April 14).
72 
PYMNTS
SEPTEMBER 22, 2020
21), European Central Bank (ECB) President Christine Lagarde made a case for the digital euro, saying it would provide an alternative to private digital currencies, according to her prepared opening remarks. Speaking before the Franco-German Parliamentary Assembly on Monday (Sept.
110 
PYMNTS
SEPTEMBER 18, 2019
17) about proposed cryptocurrencies like Facebook’s Libra and said Berlin would reject them, according to a report by Reuters. Speaking about stablecoins, which are cryptocurrencies backed by more traditional financial products, like fiat currency, securities or gold, Scholz said, “We cannot accept a parallel currency.
54 
PYMNTS
SEPTEMBER 16, 2019
Global central bank officials met with leaders from both Facebook’s Libra Association and JPMorgan to discuss policies and regulation around new cryptocurrencies, the Bank for International Settlements (BIS) said in a press release on Monday (Sept. Fnality International was also questioned about its coin.
50 
PYMNTS
OCTOBER 14, 2020
The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. Ehrlich said stablecoins, including the U.S. This in the wake of the OCC’s Sept.
129 
The Fintech Times
APRIL 5, 2024
Ripple , the provider of enterprise blockchain and crypto solutions, plans to launch a stablecoin, pegged 1:1 to the US dollar (USD). Ripple’s stablecoin will be 100 per cent backed by US dollar deposits, short-term US government treasuries, and other cash equivalents. trillion by 2028. trillion by 2028.
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The Payments Association
OCTOBER 25, 2023
The rise of cryptocurrencies, often met with skepticism and mistrust, is becoming increasingly mainstream as major players and regulators endorse their legitimacy. With over 9,000 cryptocurrencies and 420 million users worldwide, crypto is evolving into a practical means of exchange.
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).
57 
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.
54 
The Fintech Times
JUNE 19, 2024
The Central Bank of the United Arab Emirates (CBUAE) has approved new regulations for stablecoins, enabling it to integrate Dirham-backed digital currencies into its financial ecosystem. But what is the significance of its latest decision regarding stablecoins? To find out, we asked a number of financial leaders.
69 
PYMNTS
DECEMBER 1, 2020
European Central Bank President Christine Lagarde wrote in an editorial that she thinks stablecoins could pose a risk to "financial stability and monetary sovereignty.”. A digital euro would boost the access customers have to central bank money, which is currently only offered in cash.
60 
PYMNTS
JULY 10, 2020
Stablecoins, the virtual currencies which seek price stability, could be the next target for money laundering and terrorist financing, a report found. The FATF said it will review the implementation and impact of its standards by next summer and provide further guidance on stablecoins and virtual assets.
PYMNTS
NOVEMBER 30, 2020
When PayPal announced recently that its 350 million users can deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants next year, it was characterized as the inevitable advance of digital currency. While few dispute the future potential viability of cryptocurrencies or stablecoins backed by the U.S.
117 
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.
87 
The Fintech Times
MAY 26, 2024
Central bank digital currencies (CBDCs), digital money regulated by a country’s central bank, are currently being tested across the world. Yet many central banks have already actioned plans to introduce them. Until then, popular tokens USDC and USDT will continue to dominate the stablecoin landscape.”
98 
CoinRemitter
JANUARY 17, 2024
There are about 9000 cryptocurrencies in the world, and over 150 of them are stablecoins, which acquire 0.08% of the cryptocurrency market. This number clearly shows the potential of stablecoins. Whenever we discuss stablecoins, we all think about USDT. But stablecoins aren’t just about Tether.
45 
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. On another note, Colorado-based cryptocurrency exchange ShapeShift has delisted privacy coin Zcash (ZEC), after delisting monero (XMR) and dash (DASH) on Friday (Nov.
67 
Global Fintech & Digital Assets
JANUARY 8, 2024
The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public. The HKMA followed with its own press release announcing a future sandbox arrangement for stablecoin issuers.
59 
BitPay
APRIL 25, 2023
Stablecoins help bridge the gap between fiat currency and crypto. Businesses can quickly move money without crypto’s usual price volatility, while still conducting secure, low-cost financial transactions without centralized intermediaries like governments or banks. Stablecoins are not mined or minted like other cryptocurrencies.
52 
PYMNTS
FEBRUARY 20, 2020
Financial Stability Board (FSB) Chair Randal Quarles has warned global financial regulators that they must accelerate the creation of a framework for cryptocurrency and other forms of digital money, Reuters reported on Wednesday (Feb. Federal Reserve governor — in the letter.
77 
PYMNTS
DECEMBER 24, 2019
According to past reports, in China, the central bank will debut a state-backed digital currency that will be first issued to seven institutions in that country.
53 
The Fintech Times
FEBRUARY 27, 2024
Having looked at some of the biggest technologies to impact the payments world, like buy now pay later (BNPL) and central bank digital currencies (CBDCs) , we now look to the future and what the next trend may be. “There is, however, a competition emerging between CBDCs and stablecoins.
PYMNTS
DECEMBER 24, 2020
If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Over the summer, the U.S. Dollars Done Digitally.
103 
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.
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