Finextra

JUNE 4, 2024

The Bank for International Settlements (BIS) is launching Project Rialto to explore how instant cross-border payments could be improved using a modular foreign exchange component combined with settlement in wholesale central bank digital currencies (wCBDC).

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Central Bank Settlement Cross-Border Payments Cross-Border 98

Fintech News

OCTOBER 28, 2024

The Bank for International Settlements (BIS) and a group of central banks have successfully completed Project Mandala demonstrating automated compliance for cross-border transactions.

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Cross-Border Compliance Cross-Border Payments Automation 126

Fintech News

OCTOBER 23, 2024

Australia has unveiled a three-year initiative to explore the potential of central bank digital currencies (CBDCs) with a focus on wholesale CBDC opportunities, industry outreach and regulatory improvements, Brad Jones, Assistant Governor (Financial System) at the Reserve Bank of Australia (RBA), told the audience at an industry event in September.

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Finextra

NOVEMBER 5, 2024

The five central bank partners in Project Nexus, a Bank for International Settlements initiative to interlink domestic real-time payment rails across borders, are to establish a managing entity, the Nexus Scheme Organisation (NSO), which will oversee the project in its live implementation stages, in Singapore.

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Fintech News

APRIL 2, 2025

A consortium of central banks has formally established Nexus Global Payments (NGP) in Singapore to manage a new multilateral cross-border payment system. The founding members are the Reserve Bank of India, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore (MAS), and the Bank of Thailand.

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Global Payments Cross-Border Payments Central Bank Cross-Border 103

PYMNTS

DECEMBER 28, 2020

Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). The central bank also said the digital ruble would facilitate international payments and reduce the pressure on current payment systems.

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Finextra

JUNE 25, 2024

Central banks should embrace artificial intelligence to sharpen their analytical tools in pursuit of financial and price stability, according to the Bank for International Settlements.

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PYMNTS

SEPTEMBER 9, 2020

Mastercard has announced a new virtual testing platform for Central Bank Digital Currencies (CBDCs). The testing tool comes as the global economy embraces digital payments and central banks investigate how to support innovation while maintaining financial stability as they issue the currency. In a Wednesday (Sept.

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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.

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Instant Payments Settlement Payments Central Bank 90

Finextra

OCTOBER 24, 2024

The European Central bank is implementing a cross-currency settlement service on the Eurosystem's Target Instant Payment Settlement (Tips) service.

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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.

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Cross-Border Payments Cross-Border Digital Currency Central Bank 145

Fintech News

OCTOBER 23, 2024

Central banks and instant payment system (IPS) operators from India, Malaysia, the Philippines, Singapore, and Thailand will collaborate with BISIH to move towards live implementation. The BIS Innovation Hub (BISIH) Singapore Centre has announced the next phase of Project Nexus , aimed at making instant cross-border payments a reality.

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Central Bank ISO 20022 Cross-Border Payments Cross-Border 126

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.

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Digital Currency Central Bank CBDC Fed 142

The Fintech Times

MARCH 7, 2025

Kenyan bank KCB Group and the Rwanda-based Bank of Kigali have joined the Pan-African Payment and Settlement System (PAPSS), which was launched by the African Export-Import Bank (Afreximbank) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat.

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Fintech News

APRIL 3, 2024

The Bank for International Settlements (BIS) , in concert with seven prominent central banks, has embarked on an exploratory project known as Project Agorá aiming to modernise international monetary transactions. Being a member of the IIF is not a requirement to participate.

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Cross-Border Payments Cross-Border Central Bank Federal Reserve 124

Finextra

OCTOBER 24, 2024

The European Central bank is implementing a cross-currency settlement service on the Eurosystem's Target Instant Payment Settlement (Tips) service.

Instant Payments 119

Instant Payments Settlement Central Bank Payments 119

Finextra

APRIL 3, 2024

A collection of seven central banks are working with the Bank for International Settlements to explore tokenisation of cross-border payments.

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Cross-Border Payments Cross-Border Central Bank Settlement 113

Fintech News

NOVEMBER 27, 2024

The bank plans to act as a Euro and US dollar settlement bank on Partior’s platform, aligning with its dbX initiative—a correspondent banking ecosystem launched to optimize financial institution client services. Established in 2021 and backed by DBS Bank, J.P.

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Finextra

JANUARY 20, 2025

Sweden's central bank is calling on banks to join in the ongoing work to enable instant cross-currency payments within Europe via the Target Instant Payment Settlement (Tips) system.

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Central Bank Instant Payments Settlement Payments 114

Finextra

MARCH 19, 2024

The Bank for International Settlements has completed proof-of-concept testing of Project Gaia, an initiative conducted in concert with three central banks to explore the use of natural language processing, optical character recognition and machine learning to extract climate-related data from corporate reports.

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EBizCharge

NOVEMBER 7, 2024

Financial clarity is especially important since banks engage in countless daily transactions that require clearing and settlement processes to ensure payments are accurately transferred between parties, reducing risks and maintaining economic stability. What is settlement? What is settlement? What is clearing?

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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.

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PYMNTS

JANUARY 6, 2021

The platform lets B2B, P2P and other commerce take place over Mexico’s real time gross settlements payments system, known as SPEI (in turn tied to wire transfers) for short. Central banks around the globe are in the process of actively developing, or at least mulling, the issuance of digital fiat, directly into digital wallets (the U.S.

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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.

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Central Bank Settlement Distributed Ledger Technology (DLT) Interoperability 75

Fintech Finance

SEPTEMBER 10, 2024

Accenture (NYSE: ACN) announced that it has invested in EMTECH , a global financial technology company that provides software-as-a-service platforms to help central banks streamline, connect and modernize their processes and operations. Terms of the investment were not disclosed.

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Clearly Payments

AUGUST 29, 2024

Central Bank Digital Currencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. Wholesale CBDCs could enhance the efficiency of the financial system by reducing settlement times and lowering costs. What Are CBDCs?

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Central Bank Digital Currency CBDC Cross-Border Payments 105

The Paypers

OCTOBER 3, 2023

The Central Bank of Kenya (CBK) has become a member of the Pan African Payments and Settlement System (PAPSS).

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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.

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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.

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Central Bank CBDC Digital Currency Cross-Border 100

PYMNTS

NOVEMBER 27, 2019

The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo! The ECB has been open to the idea, and could already be experimenting.

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Fintech News

JULY 4, 2024

As artificial intelligence (AI) rapidly transitions from a nascent development to a ubiquitous technology accelerating advancements across the financial landscape, far-reaching implications for central banks worldwide are quickly emerging.

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Central Bank AI Correspondent Bank Correspondent 103

Fintech Review

NOVEMBER 20, 2024

Almond’s blockchain-driven Settlement Optimization Engine (SOE) addresses critical speed, transparency, and cost challenges in cross-border payments. The SOE optimises transaction routes and provides near-instantaneous settlement for financial institutions globally. Let’s dive in.

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Cross-Border Payments Cross-Border Multi-Currency FinTech 115

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 (..)

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Central Bank Digital Currency Legal Federal Reserve 85

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.

Instant Payments 69

Instant Payments Settlement Payments Central Bank 69

PYMNTS

OCTOBER 19, 2020

It comes on the heels of an IMF report that raises concerns about growing momentum toward central bank-issued digital currencies (CBDCs). central bank has yet to decide whether to plunge ahead, said that issues need to be vetted, include protecting any new digital currency from cyberattacks, fraud and high-tech counterfeiters.

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Digital Currency Central Bank Fed Federal Reserve 108

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.

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Cross-Border Cross-Border Payments Payment Solutions Blockchain 59

Fintech News

MAY 15, 2024

Project Agorá, an initiative by the Bank for International Settlements (BIS) alongside major central banks and the Institute of International Finance (IIF), is moving forward and inviting private sector involvement. The project aims to explore how tokenisation can improve wholesale cross-border payments.

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