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. And even before the BIS findings, in March, members of U.S.

Digital Currency 113

Digital Currency Fed Federal Reserve CBDC 113

Finextra

NOVEMBER 26, 2024

A group of seven central banks (Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Board of Governors of the Federal Reserve System, Sveriges Riksbank and the Swiss National Bank) together with the Bank for International Settlements, have been working together to explore selected aspects of central bank digital currencies (..)

Central Bank 85

Central Bank Digital Currency Legal Federal Reserve 85

Payments Dive

MARCH 29, 2022

While talk of a digital dollar has mainly focused on creation of a central bank digital currency through the Federal Reserve, a group of House Democrats on Monday proposed legislation that pivots in a different direction, creating an electronic dollar through a new program administered by the Treasury Department.

Federal Reserve 190

Federal Reserve Digital Currency Central Bank Treasury 190

Payments Source

APRIL 9, 2020

The implementation of a digital dollar solution would quite likely precipitate future developments in the digital identity space, given the synergy of a dual-architecture solution, says Diginex's Mark Blick.

Digital Currency 160

Digital Currency Central Bank Federal Reserve Authentication 160

PYMNTS

MAY 21, 2020

The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. The effort toward digital dollars may be getting a bit of a nudge from the private sector, too. A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A

Digital Currency 97

Digital Currency Central Bank CBDC Federal Reserve 97

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

Federal Reserve CBDC Fed Digital Currency 179

PYMNTS

DECEMBER 1, 2020

It’s been more than a year in the making — with no shortage of caution and criticism by lawmakers and regulators here in the states and in Europe — but Libra, the digital currency backed by Facebook and a revolving cast of other tech firms, could debut as early as next month. Central bank efforts are good. In fact, J.P.

Digital Currency 117

Digital Currency Central Bank Stablecoins Cross-Border Payments 117

Payments Source

AUGUST 21, 2020

The global digital currency race has heightened the threat to traditional monetary policy and the dollar’s dominance, enough for the Federal Reserve of Boston to make a concerted effort to keep pace.

Digital Currency 117

Digital Currency Federal Reserve Fed Central Bank 117

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. euros (at least at present).

Digital Currency 70

Digital Currency Central Bank CBDC Federal Reserve 70

PYMNTS

SEPTEMBER 25, 2020

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Her speech, entitled “Payment and the Pandemic,” included a section on digital currencies.

Fed 132

Fed Federal Reserve Digital Currency Central Bank 132

The Paypers

MARCH 30, 2021

The Federal Reserve of the US is actively working on a central bank digital currency and some prototypes are near completion.

Federal Reserve 72

Federal Reserve CBDC Digital Currency Central Bank 72

The Paypers

OCTOBER 13, 2021

Deloitte has launched a report on central bank digital currencies , in the context of the Federal Reserve preparing to launch a review of whether to implement its own digital currency soon.

Federal Reserve 73

Federal Reserve CBDC Digital Currency Central Bank 73

PYMNTS

OCTOBER 12, 2020

But there’s room for co-existence of cash and digital currencies. The recently released report by the Bank for International Settlements ( BIS ) offers a general framework for digital currencies. And digital money, according to the BIS, will have to take its place alongside paper bills and coins.

Central Bank 93

Central Bank CBDC FedNow Digital Currency 93

Fintech News

DECEMBER 10, 2023

The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.

Cross-Border Payments 122

Cross-Border Payments Cross-Border SWIFT Fed 122

Payments Dive

FEBRUARY 10, 2025

Republican senators revived a bill last week to block the Federal Reserve from creating a central bank digital currency.

CBDC 103

CBDC Federal Reserve Digital Currency Central Bank 103

PYMNTS

JUNE 8, 2020

United Nations global blockchain expert Massimo Buonomo has foreseen a future where digital currencies could replace low-interest bank accounts, Coindesk reports. In addition, Buonomo said digital currencies, especially central bank digital currencies (CBDC) may eventually be able to replace all bank accounts.

Blockchain 135

Blockchain Accounts Digital Currency Federal Reserve 135

PYMNTS

OCTOBER 11, 2019

For central banks, when it comes to cryptocurrencies, there’s no central theme. Whether the advent of digital coins signifies an existential threat to monetary policy at its most basic level – the way it’s been done for, well, centuries – depends on who’s weighing in on the subject. Others, not so much. Yays and Nays.

Central Bank 73

Central Bank Digital Currency Federal Reserve Non-Bank 73

PYMNTS

NOVEMBER 12, 2020

Christine Lagarde , European Central Bank (ECB) president, said the ECB could make its own digital currency within a few years, which could change up the eurozone financial sector drastically, Bloomberg reported. Federal Reserve Chair Jerome Powell and Bank of England Gov.

Digital Currency 121

Digital Currency Central Bank Federal Reserve Money Laundering 121

PYMNTS

JANUARY 21, 2020

And now, for digital currencies, it’s a group effort — among central banks, that is. Up until now, the explorations and considerations of digital currencies — as would be, potentially, issued by central banking systems to bring fiat into digital form — has been done on a country-by-country basis.

Central Bank 57

Central Bank Digital Currency CBDC Federal Reserve 57

Payments Source

JANUARY 7, 2019

Despite some growing support for central banks issuing digital currencies, the practice raises important privacy concerns and questions about the structure of the banking system.

Digital Currency 63

Digital Currency Central Bank Privacy Federal Reserve 63

PYMNTS

FEBRUARY 6, 2020

Central bank leaders from six countries and the Bank for International Settlements (BIS) have planned an April meeting to discuss digital currencies and the parameters involved for launching their own, the Nikkei Asian Review reported on Thursday (Feb. In January, the central banks of the U.K.,

Central Bank 100

Central Bank Digital Currency CBDC Federal Reserve 100

PYMNTS

MARCH 23, 2020

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. Neither bill specifies the use of any type of digital currency initiative. Finance reported. .

Fed 109

Fed eWallet Federal Reserve Economy 109

Payments Dive

SEPTEMBER 2, 2022

recommends limited implementation of a central bank digital currency if the Federal Reserve pursues that digital dollar. The biggest payment system in the U.S.

NACHA 97

NACHA CBDC Federal Reserve Digital Currency 97

PYMNTS

OCTOBER 9, 2020

In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5 Fed, Central Banks Frame Criteria For Digital Currency. million boost. Amazon India Gets $95.5M

Digital Currency 56

Digital Currency Central Bank Federal Reserve P2P 56

Payments Source

NOVEMBER 24, 2019

The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries.

Digital Currency 81

Digital Currency Fed FedNow Central Bank 81

PYMNTS

MARCH 23, 2020

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. Neither bill specifies the use of any type of digital currency initiative. Finance reported. .

eWallet 105

eWallet Federal Reserve Fed Economy 105

Payments Source

APRIL 26, 2021

(..)

Digital Currency 87

Digital Currency Central Bank Rules Federal Reserve 87

PYMNTS

JUNE 23, 2020

The Clearing House’s RTP finds expansion within the community bank arena, while abroad, the Bank of Thailand is planning its own infrastructure development to accelerate B2B payments. Federal Reserve has introduced a new effort to combat payments fraud. RTP Gains Community Bank Traction. In the U.S.,

Federal Reserve 106

Federal Reserve RTP Payment APIs and Integration Fed 106

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.

CBDC 102

CBDC Central Bank Digital Currency Financial Inclusion 102

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.

Central Bank 72

Central Bank CBDC Digital Currency Federal Reserve 72

PYMNTS

NOVEMBER 12, 2019

Federal Reserve Chairman Alan Greenspan said Tuesday (Nov. 12) that central banks have no reason to issue digital currency. He added that no organization can offer sovereign credit backing that way national currencies do. I do think it is something around digital currency,” he said.

Digital Currency 40

Digital Currency Central Bank Fed Federal Reserve 40

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.

Central Bank 133

Central Bank Innovation Settlement Federal Reserve 133

PYMNTS

APRIL 13, 2020

In other words, the recipients would create checking accounts at the Federal Reserve Banks (there are 12 of them). This time around, the digital dollar would be a greenback, done in bits and bytes. There’s at least some tailwind for digital dollars to gain traction in the current and post-COVID-19 world.

Fed 99

Fed Federal Reserve Accounts Direct Deposit 99

PYMNTS

OCTOBER 3, 2019

While Philadelphia Federal Reserve Bank President Patrick Harker believes it’s “inevitable” that central banks will eventually issue digital currencies, he warned that the United States shouldn’t be first in line. I do think it is something around digital currency,” he said.

Digital Currency 55

Digital Currency Fed Federal Reserve Central Bank 55

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.

CBDC 107

CBDC Fed Federal Reserve ISO 20022 107

PYMNTS

AUGUST 5, 2020

In other news, the Federal Reserve ’s relaxation of monetary policy could bolster the price of bitcoin, with analysts seeing bitcoin potentially reaching a value of $50,000, CoinDesk reported. . “The aggregate rewards available under this program could be worth up to approximately $400 million,” according to the statement.

Federal Reserve 64

Federal Reserve Bitcoin Cryptocurrency Digital Currency 64

PYMNTS

DECEMBER 10, 2019

Policymakers at the European Central Bank (ECB) will meet in Frankfurt on Wednesday (Dec. Members of the Governing Council anticipate informal discussions about digital currency, which will take place ahead of a Thursday (Dec. Lagarde has vocalized that she favors central banks releasing electronic money.

Central Bank 54

Central Bank Digital Currency Federal Reserve Fed 54