PYMNTS

DECEMBER 26, 2019

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

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Finextra

APRIL 22, 2024

This week, the Bank of England’s Sarah Breeden announced that a discussion paper will be released in summer 2024 to draw on input from the private sector to complement the work being conducted on stablecoin regulation and retail central bank digital currency (CBDC).

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PYMNTS

MAY 27, 2020

The movement toward digital currencies may be a bit of an arms race of sorts, for now. But the question arises: Once they’ve been created and backed by central banks, what do you do with them once you have them? He pointed to the concept of synthetic central bank digital currencies ( CBDC ).

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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.

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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 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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Fintech News

SEPTEMBER 11, 2024

Initially, these will use fiat currencies, but Swift plans to eventually integrate tokenised forms of money such as central bank digital currencies (CBDCs) and stablecoins. Swift is also addressing the growing fragmentation in the digital asset ecosystem.

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The Payments Association

NOVEMBER 18, 2024

Understanding use cases: From stablecoins to tokenisation While De-Fi discussions often focus on theoretical concepts, several tangible use cases illustrate its practical applications in the payments industry. Among the most prominent are stablecoins and the tokeni s ation of traditional financial instruments. billion in May 2022.

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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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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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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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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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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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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.”.

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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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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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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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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

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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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

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

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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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

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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Central Bank Money Laundering Stablecoins Digital Currency 59

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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Digital Currency Money Laundering Central Bank Cryptocurrency 52

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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CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 96

The Payments Association

NOVEMBER 13, 2024

N ine out of ten central banks worldwide are actively exploring central bank digital currencies (CBDCs). These enterprises have intensified their focus on these areas in the past year, including venturing into digital asset custody through sophisticated infrastructure solutions.

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Blockchain Use Case Financial Inclusion Stablecoins 88

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

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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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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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

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. She framed the need for change as the need to adapt to the new digital world.

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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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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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P2P Federal Reserve Central Bank Financial Inclusion 59