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Central Bank Interoperability Settlement 
Finextra
APRIL 24, 2025
The Bank for International Settlements and its central bank partners have successfully demonstrated how wholesale payment infrastructures, such as RTGS systems, can interoperate with each other for FX transactions via new technologies, such as distributed ledgers.
72 
The Fintech Times
FEBRUARY 26, 2024
As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digital currencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker. “The Federal Reserve , Bank of Canada , and Bank of England are studying CBDCs, and there are challenges in each country.
Fintech Finance
MARCH 24, 2025
Championed by the Central Bank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financial inclusion and enhancing economic stability. The demand for secure, fast, and modern payment solutions has been pressing.
PYMNTS
DECEMBER 18, 2020
But the race is still on for central banks to develop their own digital versions of fiat to take their place alongside bills and coins. To that end, the Bahamas may stand out as an epicenter of sorts for the rise of central bank digital currencies (CBDCs). Central Banks Around the World Eye CBDCs.
142 
The Fintech Times
MAY 18, 2024
Eurosystem , the monetary authority of the eurozone, has been exploring the possible use cases of distributed ledger technology (DLT) to conduct wholesale settlement in central bank money. Initially, 16 private companies will conduct trials involving actual settlement in central bank money.
75 
The Fintech Times
NOVEMBER 8, 2024
Cross-border payments often lead to delayed settlements, creating a fragmented view of liquidity positions for companies. ” Eyes on tokenised asset settlement For payment processes, UBS Digital Cash uses a private blockchain network to which only the permissioned clients have access.
59 
PYMNTS
JANUARY 26, 2020
Bank of France Governor Francois Villeroy de Galhau said on Saturday (Jan. 25) that central banks should be in charge of issuing electronic currency, not private companies, Reuters reported.
100 
Fintech Finance
MARCH 24, 2025
Championed by the Central Bank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financial inclusion and enhancing economic stability. The demand for secure, fast, and modern payment solutions has been pressing.
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. This advancement could allow real-time exchanges of tokenised assets and payments on the Swift platform.
145 
Fintech Finance
OCTOBER 21, 2024
The Central Bank of Kenya (CBK) announces that the Kenya Electronic Payment and Settlement System (KEPSS) has been successfully migrated to the ISO20022 Global Messaging Standard (“ISO20022 Standard”). It is the backbone of Kenya’s domestic and regional payment transactions.
Fintech Finance
JUNE 17, 2024
The project will provide insights on how operators of real-time gross settlement (RTGS) systems could enable interoperability with new payments technologies, such as distributed ledger technology (DLT). The experiments will take place towards the end of 2024.
Fintech News
NOVEMBER 12, 2024
However, challenges remain, particularly regarding interoperability. To address this, stakeholders including NETS Group and Liquid Group are working on interoperable QR payment solutions that are designed to simplify processes for merchants, Chia said.
105 
The Fintech Times
MARCH 25, 2025
The Somalian financial ecosystem has taken its next step in the digital world as the Central Bank of Somalia’s (CBS) payments initiative, the Somalia Payment Switch (SPS), has successfully launched the country’s first instant payment system.
PYMNTS
NOVEMBER 16, 2020
The European Central Bank (ECB) has plans to independently investigate an incident that affected its TARGET2 real-time gross settlement system on Oct. It is owned and operated by the Eurosystem and allows bank submissions from central banks and commercial banks.
86 
PYMNTS
SEPTEMBER 8, 2020
The race toward central bank digital currencies (CBDCs) is tightening, with Brazil reportedly looking to launch one by 2022 in a bid to help digitize payments. Roberto Campos Neto, president of Brazil’s central bank, said his country’s new digital currency will work in concert with its new instant-payments system. “To
Fintech News
OCTOBER 17, 2024
The Bank for International Settlements (BIS) has launched Project Aperta , an initiative aimed at improving open finance interoperability, reducing frictions, and cutting costs in global finance. Businesses currently face costly inefficiencies due to excessive manual paperwork and limited digital data portability.
113 
The Fintech Times
NOVEMBER 6, 2024
Ant International is also working with StraitsX to enable the efficiency and interoperability of payments made via PBM through the Whale platform, Ant International’s treasury management solution.
101 
Fintech News
DECEMBER 11, 2023
This PoC involved executing real-time cross-border test transactions between various Central Bank Digital Currency (CBDC) systems. Meanwhile, the the direct model is where central banks manage wallets and settlements within a centralised CBDC system. The PoC explored two models.
110 
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.
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.
139 
PYMNTS
DECEMBER 4, 2018
The industry’s issues include insufficient interoperability between schemes, as well as confusion and cost hurdles faced by financial institutions (FIs). Central banks can also struggle to adopt new payment infrastructures or make the improvements they need to their existing payment systems. SIA’s Third-Party Approach To RTGS.
70 
Fintech News
MARCH 25, 2024
Swift, the global financial messaging cooperative, revealed that the latest round of experiments conducted within a collaborative Central Bank Digital Currency (CBDC) sandbox has shown promising results for the application of CBDCs and digital tokens.
107 
PYMNTS
MAY 22, 2020
The European Central Bank (ECB) is using its real-time payments network, TARGET Instant Payment Settlement (TIPS), as an infrastructural foundation to expand its real-time payments capacity and also bring together the region’s broader payments ecosystem,” the Tracker states. The Fed’s Failure.
137 
Fintech News
AUGUST 8, 2024
In the dynamic financial landscape of the Asia-Pacific (APAC) region, private banks, asset managers, fund managers, and other capital market participants are increasingly recognising the pivotal role of Swift connectivity. As the industry evolves, adopting robust standards like ISO 20022 becomes crucial for driving these benefits.
124 
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.
57 
The Fintech Times
APRIL 17, 2025
“Fnalitys Earmarking feature is a landmark achievement, bringing smart contracts and programmability to payments in a digital representation of central bank money for the first time,” explained Michelle Neal , CEO at Fnality International.
45 
Fintech News
APRIL 10, 2024
The Bank for International Settlements (BIS) has released a report, “Stablecoins: Regulatory Responses to Their Promise of Stability,” analysing the regulatory environments for stablecoins across seven distinct jurisdictions.
122 
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.
107 
Fintech Finance
JUNE 18, 2024
Instant cross-border payments processed by STET , one of the leading European clearing and settlement systems, (CSM) and ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, have reached a new record high.
98 
PYMNTS
MAY 20, 2020
The European Central Bank (ECB) is the European Union’s foremost regulatory body. This is just one of the cross-border payments frictions that led to the TARGET Instant Payment Settlement (TIPS) system. The ECB created TIPS upon this framework, and it provides real-time settlement capabilities across the region.
Clearly Payments
JANUARY 4, 2024
Unlike traditional currencies issued by governments and central banks, cryptocurrencies are typically based on blockchain technology, a distributed ledger that records all transactions across a network of computers. Popular cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). This is covered in the below section.
105 
PYMNTS
OCTOBER 12, 2020
As reported in August, the Fed had announced some additional details of the 24/7 year-round interbank settlement service through a program that began to take shape in 2019, geared toward speeding processing times tied to instant payments (and featuring a clearing function). Looking Toward Interoperability And Scale . The Timeframe .
Fintech News
DECEMBER 20, 2023
Developments include cross-border quick response (QR) payment linkages, connectivity between real-time national payment schemes, and the ongoing Singapore Response Code Scheme (SGQR+) project focusing on furthering QR code payment interoperability.
104 
PYMNTS
AUGUST 1, 2019
Such experiences require payments interoperability, which can be a significant challenge due to changing technologies and regulations. Many initiatives are currently underway around the globe to push such efforts along, meaning interoperability may not be as far off as once thought. What is payments interoperability?
PYMNTS
NOVEMBER 2, 2020
Tech-driven Interoperability and collaboration will finally bring trillions of dollars into the digital age, Kevin Phalen , head of global business solutions at Visa , told Karen Webster in a recent interview. Interoperability will get a boost with messaging standards such as ISO 20022. That’s where the market’s going.
119 
PYMNTS
OCTOBER 25, 2019
Enterprise software firm SAP is teaming up with professional services firm Accenture and blockchain company R3 to develop a distributed ledger technology (DLT) solution that aims to accelerate the settlement of payments between banks and customers. A press release issued on Thursday (Oct. A press release issued on Thursday (Oct.
Fintech Finance
OCTOBER 30, 2024
Banco Santander , Lloyds Banking Group , and UBS have successfully completed the first uncleared bilateral margin payments using a digital representation of central bank funds on the Sterling Fnality Payment System (£FnPS).
PYMNTS
AUGUST 7, 2020
Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States. For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific.
PYMNTS
JULY 30, 2020
The Bank of England (BoE) is pushing ahead with an overhaul of a key part of the United Kingdom’s financial payments infrastructure. The new system, slated to debut in 2022, will also have the capability to handle a central bank digital currency (CBDC), such as a digital pound, CoinDesk reports.
The Payments Association
JANUARY 21, 2025
Their price stability, especially when fiat-backed, is proving vital for remittances, settlement processes, and even everyday payments. Payments providers will need to prioritise interoperability and compliance to unlock growth while addressing security and volatility concerns.
Fintech Finance
MARCH 26, 2024
Interoperability is critical to Swift’s strategy for instant and frictionless transactions. In securities, the lack of interoperability between tokenisation platforms is a barrier to the growth of tokenisation. More than 750 transactions were carried out over the course of the experiments. The full results report is available here.
52 
The Fintech Times
SEPTEMBER 12, 2024
Considering blockchain and tokenisation Attention turned to tokenisation for the next panel session, as George Gvazava , chief crypto officer at the Bank of Georgia , revealed his thoughts on the benefits of blockchain: “If the regulation permits fully what blockchain technology delivers, we could actually see our world become a better place.
64 
Fintech Finance
FEBRUARY 6, 2024
” NPS-NCS and NEPALPAY are part of the National Payment Switch (NPS) initiative, the core infrastructure for routing and settlement of retail transactions to ensure interoperability of card and non-card-based payments within Nepal. NPS-NCS and NEPALPAY is expected to be rolled out in the last quarter of 2024. billion people.
PYMNTS
NOVEMBER 26, 2019
Last month , SAP announced it was teaming up with professional services firm Accenture and blockchain company R3 to develop a distributed ledger technology (DLT) solution that aims to accelerate the settlement of payments between banks and customers.
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