PYMNTS

NOVEMBER 15, 2020

Bank of England Deputy Governor Jon Cunliffe said it isn't his job to shield banks from the coming shift to digital currencies, Reuters reported. Andrew Bailey , governor of the BoE, said over the summer that the BoE is closely examining how the idea of a digital currency would work.

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Digital Currency Real Time Gross Settlement (RTGS) Cross-Border Settlement 103

PYMNTS

OCTOBER 19, 2020

19) on the bank’s potential rollout of a digital currency. Powell warned of potential downsides to the launch of a digital currency that need to be considered, arguing that the first priority should be to “get it right than to be the first,” Reuters reported. The Fed chief, noting that the U.S.

Digital Currency 108

Digital Currency Central Bank Fed Federal Reserve 108

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!

Central Bank 94

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

PYMNTS

MAY 21, 2020

Patent and Trademark Office that would create a digital currency underpinned by blockchain technology. The company wrote in the document that under the system, users could “hold digital currency with the same denomination as the local physical currency (e.g., $100

Digital Currency 97

Digital Currency Central Bank CBDC Federal Reserve 97

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). Institutional investors focus on digital assets.

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Settlement Cryptocurrency Blockchain Digital Currency 122

PYMNTS

MAY 27, 2020

The movement toward digital currencies may be a bit of an arms race of sorts, for now. 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).

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Central Bank Digital Currency CBDC Settlement 57

Clearly Payments

AUGUST 24, 2024

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. Digital cash, whether in the form of cryptocurrencies or central bank digital currencies (CBDCs) , promises to redefine the future of money.

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Debit Card P2P Cross-Border Central Bank 105

PYMNTS

MAY 22, 2020

The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces. 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. .

Digital Currency 56

Digital Currency Cross-Border Settlement Bitcoin Central Bank 56

PYMNTS

JUNE 17, 2020

For instance, Nikkei Asian Review recently reported that Chinese officials are mulling developing an “East Asia digital currency” in what might be a new front in the race among nations to issue fiat rendered in bits and bytes. It seems, then, that battle lines of sorts are being drawn around digital currencies.

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Digital Currency Central Bank CBDC Deposit Account 89

PYMNTS

FEBRUARY 5, 2020

The United States Federal Reserve is examining the possibilities and issues surrounding cryptocurrencies and digital payments, which include whether there would be a benefit to the agency issuing a digital currency , according to a report by Reuters.

Digital Currency 52

Digital Currency Fed CBDC Federal Reserve 52

PYMNTS

MAY 22, 2020

The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces. 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. .

Digital Currency 64

Digital Currency Cross-Border Settlement Central Bank Stablecoins 64

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. The Federal Reserve Bank has been exploring a digital currency.

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Digital Currency Central Bank CBDC Federal Reserve 70

PYMNTS

DECEMBER 27, 2020

In a continuing showing of the strength of the cryptocurrency, bitcoin is now valued at $500,000, according to the report. The rise of the currency's value has been surging just over the past holiday weekend, breaking $25,000 on Friday (Dec. The price of bitcoin has passed $28,000 on Sunday (Dec. 25) and then $26,000 on Saturday (Dec.

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CBDC Bitcoin Digital Currency Cryptocurrency 101

PYMNTS

FEBRUARY 25, 2020

The Central Bank of Canada said that while it will not be issuing a digital currency anytime soon, it will still develop a blueprint in case a pressing need becomes apparent, according to a report by Bloomberg. The country’s central bank is looking at the various features and requirements involved in setting up a digital currency.

Digital Currency 53

Digital Currency CBDC Central Bank Settlement 53

Fintech News

DECEMBER 4, 2023

Australian cryptocurrency exchange Independent Reserve has forged a new partnership with RelayPay, a digital currency payments platform. This collaboration aims to facilitate cryptocurrency transactions for Independent Reserve’s business clients in Australia and New Zealand.

Digital Currency 85

Digital Currency Cryptocurrency Stablecoins Bitcoin 85

Fintech Finance

SEPTEMBER 2, 2024

Bitmama, which enables individuals and businesses in over 18 countries to send and receive payments in various currencies, has built a platform to facilitate cross-border settlements but requires liquidity in each serviced country. Bitmama started in 2017 as a P2P digital currency exchange.

Cross-Border Payments 68

Cross-Border Payments Cross-Border Cross-Border Settlement Financial Inclusion 68

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.

Central Bank 57

Central Bank Digital Currency CBDC Federal Reserve 57

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.

Digital Currency 53

Digital Currency Accounts Money Laundering Central Bank 53

PYMNTS

JULY 30, 2020

s central bank announced on Thursday (July 30) that it has hired IT firm Accenture to revamp and modernize what is known as the Real-Time Gross Settlement (RTGS) service, which handles daily transactions worth more than $895 million between large financial institutions (FIs). s central bank is weighing whether to launch a digital currency.

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Real Time Gross Settlement (RTGS) Digital Currency Central Bank CBDC 63

PYMNTS

DECEMBER 4, 2019

4), with separate reports noting that the collaboration aims to deploy a digital currency for B2B payments. MUFG is already operating in the digital currency space, having developed a proprietary digital token, dubbed Coin, earlier this year. No other decision has been made in this regard at this time.”.

Digital Currency 52

Digital Currency B2B Funds Transfer Settlement 52

PYMNTS

MARCH 12, 2020

Plaintiffs in a case that alleged JPMorgan Chase charged clients too much for buying digital currencies with their credit cards have reportedly arrived at a settlement with the bank, CoinDesk reported. Southern District Court that they came to a settlement with Chase Bank.

Digital Currency 52

Digital Currency Credit Cards Settlement Debit Card 52

PYMNTS

DECEMBER 6, 2020

Citigroup will be helping governments around the world establish sovereign digital currencies, or central bank digital currencies (CBDC), CEO Michael Corbat says, according to a report from CoinDesk. 4), Corbat said the development of such digital currencies was likely inevitable with the way money has been trending.

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CBDC Digital Currency Central Bank Government 114

The Fintech Times

SEPTEMBER 2, 2024

Bitmama, which enables individuals and businesses in over 18 countries to send and receive payments in various currencies, has built a platform to facilitate cross-border settlements but requires liquidity in each serviced country. Founded in 2017, Bitmama started as a P2P digital currency exchange.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Cross-Border Settlement Consumer 59

PYMNTS

DECEMBER 13, 2019

With the belief that it could cause instability within the country’s financial system, the government of Switzerland spoke against making a central bank digital currency available to the public. The SNB and the Bank for International Settlements (BIS) are said to be exploring the widespread use of digital central bank currencies.

Digital Currency 40

Digital Currency Central Bank Distributed Ledger Technology (DLT) Money Laundering 40

Fintech News

JULY 3, 2024

In the heart of Southeast Asia, a small island nation is making giant strides in digital currencies. Singapore, long known for its financial prowess and technological innovation, has emerged as an unexpected leader in cryptocurrency adoption. But what drives this remarkable adoption rate?

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Financial Literacy Cryptocurrency Digital Currency Accreditation 85

The Fintech Times

AUGUST 8, 2024

According to research from Triple-A , the digital currency paytech, the number of crypto users globally grew from 420 million in 2022, to 562 million in 2023. By not catering to the growing surge in cryptocurrency’s popularity, firms are inviting customers to go to their rivals.

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Cryptocurrency Compliance Digital Currency Settlement 59

PYMNTS

FEBRUARY 28, 2020

28) that digital currencies could potentially dry up lending for banks and affect the economy as a whole, according to a report by Reuters. Many central banks around the globe are wrestling with the implications of digital currencies and how they will affect a country’s financial health.

Digital Currency 95

Digital Currency Stablecoins Central Bank Money Laundering 95

PYMNTS

FEBRUARY 6, 2020

Central bank leaders from six countries and the Bank for International Settlements (BIS) have planned an April meeting to discuss digital currencies and the parameters involved for launching their own, the Nikkei Asian Review reported on Thursday (Feb. In January, the central banks of the U.K.,

Central Bank 100

Central Bank Digital Currency CBDC Federal Reserve 100

PYMNTS

NOVEMBER 30, 2017

While the Federal Reserve does not have plans to issue digital currency, it is actively researching the underlying technology, said John Williams, president of the San Francisco Federal Reserve Bank.

Digital Currency 40

Digital Currency Federal Reserve Central Bank Bitcoin 40

PYMNTS

OCTOBER 12, 2020

million) worth of digital currency to 50,000 people chosen by lottery in the country’s first trial run of a cashless payments system, according to numerous reports on Monday (Oct. They will receive a digital red packet that can be downloaded using the official Renminbi app that only the winners will be able to access.

Digital Currency 96

Digital Currency Central Bank Settlement Cryptocurrency 96

PYMNTS

JANUARY 24, 2020

In a move that signals Tokyo’s concern regarding China’s effort to make a digital yuan, as well as Facebook’s Libra, a collection of ruling party legislators is crafting a proposal for Japan to create its own cryptocurrency.

Digital Currency 100

Digital Currency Central Bank Cryptocurrency Government 100

Fintech News

JANUARY 9, 2024

Cryptocurrencies Market Resurgence The resurgence in cryptocurrency prices and the anticipated halving of Bitcoin in mid-2024 has reignited interest in the potential of distributed ledger technology to reshape the financial landscape. It remains to be seen how the industry will evolve and address these challenges in 2024.

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APACS FinTech Digital Currency Blockchain 78

PYMNTS

JANUARY 27, 2021

According to a study by the Bank for International Settlements (BIS), central bank digital currencies (CBDCs) will be available for 20 percent of the world’s population in the next three years.

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CBDC Central Bank Financial Inclusion Digital Currency 102

Payments Source

OCTOBER 9, 2019

The Swiss National Bank and stock exchange SIX will jointly explore how to make central bank digital money available for the trading and settlement among financial market players.

Digital Currency 68

Digital Currency Central Bank Settlement Cryptocurrency 68

PYMNTS

OCTOBER 23, 2020

Amid increased interest in cryptocurrencies from policy makers and central banks due to China's intentions to issue a digital yuan, a Bank of Japan official said the bank’s move to roll out a cryptocurrency would hinged on public support, Bloomberg reported. “At

CBDC 69

CBDC Digital Currency Central Bank Federal Reserve 69

BitPay

MAY 25, 2023

A growing number of businesses have begun accepting cryptocurrency payments to meet the demands of their crypto-using customers. Fortunately, today it’s easier than ever for B2B businesses to start taking cryptocurrency in exchange for their goods and services, with no crypto knowledge required and no complicated integrations.

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Cryptocurrency B2B Bitcoin Processors 40

PYMNTS

DECEMBER 28, 2020

Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digital currencies, some of which could launch in five to seven years.

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Central Bank SWIFT Digital Currency CBDC 142