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.

Central Bank 122

Central Bank Settlement AI 122

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.

Central Bank 132

Central Bank Digital Currency Visa CBDC 132

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.

Cross-Border Payments 123

Cross-Border Payments Cross-Border Central Bank Federal Reserve 123

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.

Cross-Border Payments 113

Cross-Border Payments Cross-Border Central Bank Settlement 113

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 130

Instant Payments Settlement Central Bank Payments 130

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.

Central Bank 123

Central Bank Risk Settlement Process 123

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.

Central Bank 126

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.

Digital Currency 142

Digital Currency Central Bank CBDC Fed 142

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

Fintech Finance

NOVEMBER 29, 2024

The European Central Bank (ECB) and Norges Bank signed an agreement for Norway to join the Eurosystem’s TARGET Instant Payment Settlement (TIPS) service. TARGET Services are developed and operated by the Eurosystem and rely on central bank money to facilitate transfers between banks, businesses and individuals.

Instant Payments 138

Instant Payments Central Bank Settlement Agreements 138

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.

Digital Currency 104

Digital Currency Central Bank Fed Federal Reserve 104

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.

Central Bank 145

Central Bank Financial Inclusion Wire Transfer Payments 145

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.

Central Bank 75

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.

Central Bank 98

Central Bank Digital Currency CBDC Financial Inclusion 98

The Paypers

OCTOBER 3, 2023

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

Central Bank 77

Central Bank Settlement Payments 77

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

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.

Central Bank 94

Central Bank Digital Currency Distributed Ledger Technology (DLT) CBDC 94

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.

Digital Currency 108

Digital Currency Central Bank Fed Federal Reserve 108

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.

Central Bank 96

Central Bank AI Correspondent Bank Correspondent 96

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.

Message Standards 98

Message Standards Real Time Gross Settlement (RTGS) Settlement Cross-Border 98

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.

Cross-Border Payments 140

Cross-Border Payments Cross-Border Federal Reserve Central Bank 140

Finextra

OCTOBER 28, 2024

The Bank for International Settlements (BIS) along with central banks in Australia, Korea, Malaysia and Singapore have successfully demonstrated the feasibility of embedding regulatory compliance requirements with cross-border financial transactions.

Cross-Border 83

Cross-Border Central Bank Use Case Compliance 83

Payments Dive

MAY 17, 2024

The Bank for International Settlements is seeking private sector participation in a smart-contract project designed by seven central banks to improve cross-border payments.

Cross-Border Payments 78

Cross-Border Payments Cross-Border Central Bank Settlement 78

PYMNTS

MAY 21, 2020

The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A A central entity may implement a monetary policy and issue currency.

Digital Currency 97

Digital Currency Central Bank CBDC Federal Reserve 97

Finextra

JUNE 27, 2024

BME, through Iberclear, has been admitted to the Eurosystem's exploratory work as a DLT market operator to conduct experiments on new technologies applicable to the settlement of wholesale operations in central bank money.

Central Bank 59

Central Bank Settlement Technology 59

Finextra

JUNE 5, 2024

The Bank for International Settlements says it multi-central bank CBDC platform, Project mBrige, is ready to accept value added products and new use cases as it reaches minimum viable product stage (MVP).

CBDC 145

CBDC Central Bank Settlement Use Case 145

Finextra

SEPTEMBER 9, 2024

The European Central Bank (ECB) welcomes the decision by Seðlabanki Íslands (Central Bank of Iceland) to begin a feasibility assessment to explore the possibility of joining the Eurosystem’s T2 real-time gross settlement system and its TARGET Instant Payment Settlement (TIPS) retail payment system.

Central Bank 59

Central Bank Settlement Instant Payments Assessments 59

PYMNTS

MAY 29, 2019

A European Central Bank ( ECB ) official is throwing his support towards wholesale central bank digital currencies (CBDCs). While a retail CBDC would be available for the general public, wholesale would serve a limited circle, primarily banks. Vasiliauskas is contemplating both sides.

Central Bank 76

Central Bank Digital Currency CBDC Liquidity Risk 76

Fintech News

NOVEMBER 3, 2024

Access to a common settlement facility is also being facilitated through the SGD Testnet, featuring S$ wholesale central bank digital currency (CBDC) for market testing. Participating financial institutions like DBS, OCBC, Standard Chartered, and UOB will trial these settlements.

CBDC 110

CBDC Settlement Digital Currency Cross-Border 110

Fintech News

NOVEMBER 21, 2024

Additionally, the RBI is collaborating with central banks across Southeast Asia to create a platform enabling instant cross-border transactions, aligning with the region’s push for financial integration. India’s initiatives are also closely tied to its exploration of central bank digital currencies (CBDCs).

Cross-Border Payments 138

Cross-Border Payments Cross-Border Digital Currency Central Bank 138

PYMNTS

OCTOBER 11, 2019

For central banks, when it comes to cryptocurrencies, there’s no central theme. Some central banks are embracing the concept. The overall theme, reported the site, is to look into how “digital central bank money could be used in the settlement of tokenized assets between market participants.”.

Central Bank 73

Central Bank Digital Currency Federal Reserve Non-Bank 73

Finextra

FEBRUARY 7, 2024

The metaverse could place new demands on payment services that may be better met by central bank digital currencies and retail faster payment systems than by crypto, according to a Bank for International Settlements report.

Metaverse 130

Metaverse On-Demand Digital Currency Central Bank 130

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.

Central Bank 86

Central Bank Interoperability Cybersecurity Settlement 86

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 aim in both scenarios will be for the SO to successfully orchestrate the settlement of a payment versus payment (PvP) FX transaction.

Real Time Gross Settlement (RTGS) 97

Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Settlement Interoperability 97

Fintech News

NOVEMBER 5, 2024

The five central banks collaborating on Project Nexus will set up a managing entity called the Nexus Scheme Organisation (NSO). The project is a collaboration between the Bank for International Settlements (BIS) Innovation Hub and central banks from India, Malaysia, the Philippines, Singapore, and Thailand.

ISO 20022 110

ISO 20022 Central Bank Cross-Border Payments Settlement 110

Fintech News

NOVEMBER 3, 2024

The Bank for International Settlements ( BIS ) Innovation Hub announced that it has “graduated out” of Project mBridge. Project mBridge is a major cross-border payments initiative designed to leverage wholesale central bank digital currencies (CBDCs).

Cross-Border 123

Cross-Border Cross-Border Payments Central Bank Settlement 123

The Paypers

OCTOBER 4, 2023

The Bank for International Settlements (BIS) has partnered with several European central banks to create a crypto tracking platform.

Central Bank 73

Central Bank Settlement 73