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?

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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.

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The Payments Association

OCTOBER 25, 2023

Stablecoins and central bank digital currencies (CBDCs) are emerging as vital tools in this transition, offering stability and utility, making it evident that the digital asset market is growing and transforming our financial landscape.

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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.

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PYMNTS

DECEMBER 5, 2019

5) that digital currencies like Facebook’s Libra have no place in the European Union unless the consequences and pitfalls are adequately sorted out, Reuters reported. “No Tackling the challenges raised by global stablecoins requires a coordinated global response. EU finance ministers came to an agreement on Thursday (Dec.

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PYMNTS

NOVEMBER 12, 2020

Crypto payment services provider BitPay has unveiled a new mass payout offering, BitPay Send, which lets entities of different sizes make payments to workers, clients, affiliates, suppliers, contractors and others with digital currency, according to a Thursday (Nov. 12) announcement.

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The Fintech Times

MAY 26, 2024

In recent years, digital currencies have been all the rave. However, the idea that digital assets are exclusively some form of currency is slowly falling by the wayside as different use cases are emerging and being rapidly adopted. Yet many central banks have already actioned plans to introduce them.

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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 While some cryptocurrencies, such as security tokens, are regulated by European law, most stablecoins, are not, CoinDesk reported. s proposed Libra, CoinDesk reported.

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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.

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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.”. The editorial noted the rise of digital payment methods, which have been especially expedited due to the pandemic.

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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.

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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.

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Clearly Payments

JANUARY 4, 2024

As digital currencies grow in popularity , merchants around the world are exploring the potential benefits of accepting payments in cryptocurrency. Understanding Cryptocurrency Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on a decentralized network of computers.

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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.

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PYMNTS

NOVEMBER 5, 2019

A European Union draft document says the European Central Bank (ECB) should contemplate issuing its own digital currency, Reuters reported on Tuesday (Nov. Until Facebook announced Libra, regulators mostly ignored stablecoins due to their small scale.

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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.

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PYMNTS

DECEMBER 24, 2019

In a separate report , Changchun Mu, who leads the People’s Bank of China’s (PBOC) digital currency research subsidiary, noted that the digital currency of China will not require a currency basket to keep a staple value. The RMB is used to spend, not for speculation.

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PYMNTS

MAY 22, 2020

The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. . The digital currency would be backed by the yuan, the Korean won, the Japanese yen and the Hong Kong dollar. .

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The Fintech Times

SEPTEMBER 9, 2024

Previously hosted by major institutions like the Federal Reserve, Deutsche Bundesbank and the European Central Bank, the workshop has become a central platform for discussions on cutting-edge financial innovations. The event will also explore emerging issues such as consumer protection in the age of generative AI.

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Payments Source

MARCH 24, 2020

government to offer a central bank digital currency, public mobile wallets and postal banking—controversial ideas that are hard to pull off, but exist outside the U.S. and could dent interchange fees and private stablecoin projects like Facebook’s Libra.

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PYMNTS

MAY 22, 2020

The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. . The digital currency would be backed by the yuan, the Korean won, the Japanese yen and the Hong Kong dollar. .

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PYMNTS

JUNE 10, 2020

The Bank of Ghana continues to consider the creation of a digital currency, GhanaWeb reported. Dr. Maxwell Opoku-Afari, the bank’s first deputy governor, reportedly said during a digital workshop that the bank remains steadfast in facilitating innovation and piloting ideas like a central bank cryptocurrency.

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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.

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PYMNTS

DECEMBER 12, 2019

The head of the European Central Bank (ECB), Christine Lagarde, said she wants a task force to identify clear objectives regarding the ECB’s proposed digital currency initiative by the middle of next year, according to a report by Reuters. Lagarde also said the ECB should be “ahead of the curve” on the issue.

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PYMNTS

FEBRUARY 28, 2020

The Deputy Governor of the Bank of England (BoE), Jon Cunliffe, said on Friday (Feb. 28) that digital currencies could potentially dry up lending for banks and affect the economy as a whole, according to a report by Reuters. That would be a change with profound economic consequences.”.

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Fintech News

DECEMBER 11, 2023

SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, and Giesecke+Devrient (G+D) successfully completed a proof-of-concept (PoC) on the Universal Digital Payments Network (UDPN). Meanwhile, the the direct model is where central banks manage wallets and settlements within a centralised CBDC system.

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PYMNTS

SEPTEMBER 18, 2019

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. Germany’s national central bank, the Bundesbank , is also in talks with officials in Berlin about the development of digital currency.

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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.

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PYMNTS

APRIL 24, 2020

The People’s Bank of China (PBOC) is launching a pilot program to trial its new digital currency yuan with 19 local businesses, including the U.S. The digital currency trial is being held in Xiong’an New Area, a city being built south of Beijing. chains Starbucks, Subway and McDonald’s.

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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.

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Clearly Payments

FEBRUARY 19, 2024

With continued innovation and adaptation, this sector is poised to shape the future of commerce in the digital age. Digital Currency and Payments The emergence of digital currencies and associated payment systems has heralded a paradigm shift in the financial landscape, marked by a diverse array of players, technologies, and applications.

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The Paypers

MAY 27, 2021

The recently announced Diem USD stablecoin is intended as an interim step until the US Federal Reserve issues a central bank digital currency (CBDC) or digital dollar.

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PYMNTS

OCTOBER 12, 2020

Facebook's proposed global digital currency Libra is expected to get pushback from G7 leaders who are anticipated to publicly oppose the project due to a lack of regulations, according to a Reuters report on Monday (Oct. 13) during a meeting of finance ministers and central bankers from the U.S.,

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PYMNTS

JULY 7, 2020

Regulators are taking in an interest in stablecoins, with the Financial Action Task Force (FATF) noting in a report the digital currencies need to adhere to norms to offer protection from the terrorism financing and money laundering, Bloomberg reported.

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PYMNTS

OCTOBER 17, 2019

European Central Bank Executive Board member Benoit Coeure called for strict supervisory principles for digital currencies and stablecoins like Facebook’s Libra, Bloomberg reported on Thursday (Oct. In the case of Europe, neither the Commission nor the ECB intends to make Europe a no-fly zone for stablecoins.

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Fintech News

JANUARY 30, 2024

Other payment trends in Asia preceding 2024 including the rise of B2B buy now pay later (BNPL), growing prominence of central bank digital currency (CBDC), and prevalence of composable, cloud-based ‘as-a-Service’ IT architecture models have helped shape much of what we anticipate for 2024.

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PYMNTS

OCTOBER 4, 2019

At a G20 meeting in the middle of October, European Union finance ministers will reportedly tell their counterparts that a worldwide regulatory response is needed to so-called stablecoins like Facebook’s Libra. billion people globally who don’t have access to a bank account to the world of digital payments at no or low cost.

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