Fintech News

JUNE 11, 2024

This move aims to enhance Ripple ‘s product offerings and explore new ventures like stablecoins while maintaining regulatory compliance. money transmitter licenses, a Major Payment Institution License from the Monetary Authority of Singapore , and a Virtual Asset Service Provider registration with the Central Bank of Ireland.

Stablecoins 112

Stablecoins Acquirers Regulatory Compliance Central Bank 112

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.”.

Central Bank 98

Central Bank Cryptocurrency Point-of-Sale (POS) Stablecoins 98

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.

Stablecoins 110

Stablecoins Cross-Border Cross-Border Payments Blockchain 110

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.

Stablecoins 92

Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92

The Fintech Times

AUGUST 5, 2024

Ireland-based electronic money institution (EMI) DECTA is joining forces with France-based fintech Next Generation to launch a new Euro-pegged stablecoin, ‘EURT’ DECTA and Next Generation explained that EURT is fully compliant with MiCA requirements and will operate on the Stellar blockchain, as well as three other platforms.

Stablecoins 98

Stablecoins FinTech Caps Audit 98

The Fintech Times

JULY 15, 2024

In this article, Akshata Namjoshi, Kabir Kuma, and Ahlam Faouzi from KARM Legal Consultants , the emerging technologies-focused law firm, provide an in-depth analysis of the UAE’s regulatory landscape for stablecoins. Additionally, stablecoins are increasingly being explored for use in payments due to their stability and efficiency.

Stablecoins 96

Stablecoins Regulations Multi-Currency Issuers 96

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. The coronavirus stimulus package has resurrected calls for the U.S.

Stablecoins 142

Stablecoins Digital Currency Central Bank Governance 142

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.

Stablecoins 88

Stablecoins Cryptocurrency Central Bank Money Laundering 88

PYMNTS

NOVEMBER 12, 2020

And, Andrew Bailey , the governor of the Bank of England , said he doesn’t think stablecoins are fit for broad use or have the ability to be trusted as a secure store of value, Reuters reported.

Stablecoins 110

Stablecoins Bitcoin Digital Currency CBDC 110

PYMNTS

DECEMBER 26, 2019

The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. The intent is to start a fully-fledged central bank digital currency (CBDC). 27) in Exuma. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release.

Digital Currency 83

Digital Currency Central Bank CBDC Stablecoins 83

Fintech News

DECEMBER 13, 2024

The growing adoption of stablecoins across Asia marks a significant shift in the regions financial landscape. dollar-pegged stablecoins like USDT and USDC primarily dominate the cryptocurrency topography. Tether (CNHt) Tether CNHt is a stablecoin that is pegged to the offshore Chinese Yuan (CNY). Traditionally, U.S.

Stablecoins 70

Stablecoins Cross-Border Cross-Border Payments Caps 70

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.

Stablecoins 130

Stablecoins Digital Currency Central Bank Technology 130

Finextra

FEBRUARY 19, 2024

The European Central Bank says banks are "barking up the wrong tree" when they fret over the impact of deposit flight from a future digital euro, arguing instead that stablecoins and electronic money institutions pose more of a threat to the deposit base.

CBDC 115

CBDC Stablecoins Central Bank 115

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).

Stablecoins 75

Stablecoins CBDC Digital Currency Central Bank 75

PYMNTS

APRIL 14, 2020

The Financial Stability Board (FSB) – the regulatory watchdog of the Group of 20 (G-20) – warned global regulators that possible stablecoin disruptions should be addressed before Facebook’s Libra is released, according to a consultation report released on Tuesday (April 14).

Stablecoins 72

Stablecoins Central Bank Cross-Border Consulting 72

The Fintech Times

APRIL 5, 2024

Ripple , the provider of enterprise blockchain and crypto solutions, plans to launch a stablecoin, pegged 1:1 to the US dollar (USD). Ripple’s stablecoin will be 100 per cent backed by US dollar deposits, short-term US government treasuries, and other cash equivalents. trillion by 2028. trillion by 2028.

Stablecoins 64

Stablecoins Use Case Blockchain On-Demand 64

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. A key focus of these developments is testing multi-ledger Delivery-versus-Payment (DvP) and Payment-versus-Payment (PvP) transactions.

SWIFT 145

SWIFT Multi-Currency CBDC Interoperability 145

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.

Stablecoins 52

Stablecoins Central Bank Rules Bitcoin 52

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? To find out, we asked a number of financial leaders.

CBDC 69

CBDC Stablecoins Regulations Disputes 69

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.

Central Bank 59

Central Bank Money Laundering Stablecoins Digital Currency 59

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.”. A digital euro would boost the access customers have to central bank money, which is currently only offered in cash.

Stablecoins 60

Stablecoins Central Bank Digital Currency Issuers 60

Finextra

FEBRUARY 19, 2024

The European Central Bank says banks are "barking up the wrong tree" when they fret over the impact of deposit flight from a future digital euro, arguing instead that stablecoins and electronic money institutions pose more of a threat to the deposit base.

CBDC 93

CBDC Stablecoins Central Bank 93

PYMNTS

APRIL 21, 2020

The Central Bank of Argentina (BCRA) is trying out blockchain in a new clearing system, and the technology could eventually be used by other large banks, according to CoinDesk. The technology is based on the RSK Smart Contract Network, and IOV made it in connection with the central bank and others, like Santander and BBVA.

Central Bank 72

Central Bank Returns Blockchain Cryptocurrency 72

Fintech Finance

NOVEMBER 21, 2024

UDPN is a DLT-underpinned messaging backbone focused on providing interoperability between the fast-growing number of different regulated stablecoins, tokenized deposits, and CBDCs, and seamless connectivity between any business IT system and regulated digital currencies. Financial innovation is not limited to central banks.

Payment Networks 98

Payment Networks Digital Payments Stablecoins Digital Currency 98

PYMNTS

MAY 27, 2020

But the question arises: Once they’ve been created and backed by central banks, what do you do with them once you have them? As noted in this space last week, about 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) are working on central bank digital currencies (CBDC).

Central Bank 57

Central Bank Digital Currency CBDC Settlement 57

PYMNTS

SEPTEMBER 16, 2019

Global central bank officials met with leaders from both Facebook’s Libra Association and JPMorgan to discuss policies and regulation around new cryptocurrencies, the Bank for International Settlements (BIS) said in a press release on Monday (Sept. The BIS is an umbrella organization for the world’s largest central banks.

Stablecoins 50

Stablecoins Central Bank Federal Reserve Cryptocurrency 50

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. According to a government document, Berlin is working closely with allies in Europe and abroad to prevent stablecoins from being introduced.

Stablecoins 54

Stablecoins Finance Cryptocurrency Central Bank 54

PYMNTS

DECEMBER 10, 2019

Policymakers at the European Central Bank (ECB) will meet in Frankfurt on Wednesday (Dec. Lagarde has vocalized that she favors central banks releasing electronic money. Bank of England Governor Mark Carney has even implied that an international central bank coin could supersede the U.S.

Central Bank 54

Central Bank Digital Currency Federal Reserve Stablecoins 54

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. Speaking before the Franco-German Parliamentary Assembly on Monday (Sept.

Digital Currency 110

Digital Currency Stablecoins Central Bank Cybersecurity 110

PYMNTS

DECEMBER 1, 2020

In today’s top news in digital-first banking, European Central Bank (ECB) President Christine Lagarde cautioned that stablecoins could be a risk to monetary sovereignty, while Velo Labs is working with Visa and Lightnet on lending in Asia. ECB President Warns Stablecoins Could 'Threaten' Monetary Sovereignty.

Stablecoins 56

Stablecoins Central Bank Risk Instant Payments 56

The Fintech Times

MAY 26, 2024

Central bank digital currencies (CBDCs), digital money regulated by a country’s central bank, are currently being tested across the world. Yet many central banks have already actioned plans to introduce them. Until then, popular tokens USDC and USDT will continue to dominate the stablecoin landscape.”

CBDC 98

CBDC Central Bank Privacy Stablecoins 98

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.

Stablecoins 59

Stablecoins Consulting Issuers Non-Bank 59

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.

Money Laundering 56

Money Laundering Stablecoins Cryptocurrency Digital Currency 56

PYMNTS

DECEMBER 24, 2019

According to past reports, in China, the central bank will debut a state-backed digital currency that will be first issued to seven institutions in that country.

Central Bank 53

Central Bank Digital Currency Stablecoins Bitcoin 53

Fintech News

FEBRUARY 27, 2024

2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.

APACS 115

APACS Regulations Stablecoins Cryptocurrency 115

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.

CBDC 112

CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 112

PYMNTS

APRIL 24, 2020

China is the first country to launch a central bank digital currency (CBDC) or digital currency electronic payment (DCEP). The digital yuan is structured using a central bank-issued CBDC for commercial banks and a commercial bank-issued CBDC focused on the public.

CBDC 83

CBDC Digital Currency Stablecoins Central Bank 83