UDPN launches digital currency sandbox
Finextra
MARCH 18, 2024
The Universal Digital Payments Network (UDPN) has launched a digital currency sandbox for both commercial and central banks.
Digital Currency Related Topics 
dtcpay and Visa Partner to Enable Global Digital Currency Payments
Fintech News
SEPTEMBER 17, 2024
dtcpay is integrating its digital payment capabilities into Visa ’s global network, giving access to over 130 million merchants across more than 200 countries and territories. This collaboration aims to bridge traditional payments with digital currencies, enabling merchants to accept transactions from a growing segment of UHNW customers.
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How central bank digital currencies (CBDCs) can enhance cross-border payments
The Payments Association
SEPTEMBER 16, 2024
Central bank digital currencies (CBDCs) could transform cross-border payments by reducing costs, improving efficiency, and enhancing transparency. Read more
Exploring Digital Currencies Across the Middle East and Africa in 2024
The Fintech Times
MAY 29, 2024
The idea that digital assets are exclusively some form of currency has been slowly dispelled, as new use cases emerge and are rapidly adopted across the globe. But digital currencies are far from irrelevant. CBDC overview across the MEA region in 2024 But why are so many countries adopting CBDC initiatives?
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Payments players should embrace digital currencies
Payments Dive
NOVEMBER 15, 2024
“Emerging currencies, digital assets, and even next-generation fiat options could be integrated thoughtfully, allowing companies to access new markets,” writes one industry chief revenue officer.
New York expands Digital Currency Group lawsuit to seek $3bn
Finextra
FEBRUARY 9, 2024
New York Attorney General Letitia James has filed an amended lawsuit against crypto firm Gemini and Digital Currency Group, alleging that nearly quarter of a million investors were defrauded out of more than $3 billion, rather than the $1 billion claimed in the initial suit.
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FinMont Partners With Triple-A to Add Digital Currency Payments to Its Global Travel Payment Orchestration Platform
Fintech Finance
MARCH 27, 2024
Global travel payment orchestration platform FinMont has partnered with Triple-A to integrate digital currency payments into its ecosystem. Triple-A’s digital payment solutions allow businesses to pay and get paid in digital currencies, anytime, anywhere, without the need to hold or convert digital currencies.
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Powell says Fed's digital currency should complement payments system
Payments Source
OCTOBER 19, 2020
Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.
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Fed Exploring ‘Hypothetical’ Digital Currency
PYMNTS
AUGUST 14, 2020
A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. And even before the BIS findings, in March, members of U.S.
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PayPal CEO Shulman: Consumers Moving To Digital Currency In Droves
PYMNTS
NOVEMBER 23, 2020
Schulman said it’s not a matter of if, but “when and how you'll start to see more and more central banks issue forms of digital currencies. The news comes as PayPal announced that it had jumped into the digital currency business and would now let clients purchase, keep and sell cryptocurrency straight from their PayPal accounts.
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Cambodia Advances Tourism Sector with Blockchain-Based Digital Currency Payments
Fintech News
DECEMBER 11, 2023
Cambodia is implementing new initiatives to expand payment options for tourists by cementing blockchain-based central bank digital currency (CBDC) partnerships. The National Bank of Cambodia (NBC) has been instrumental in facilitating these digital currency evolutions.
JCB to pilot softPOS technology for central bank digital currency transactions
NFCW
DECEMBER 14, 2023
The offline P2P trial forms phase two of JCB’s ongoing CBDC pilot — known as JCBDC — and will test a system for making peer-to-peer digital currency transfers either from one physical card to another via an intermediary NFC mobile device or directly between NFC smartphones.
Bank of China lets taxi drivers accept central bank digital currency payments on NFC mobile phones
NFCW
APRIL 11, 2024
The Bank of China is conducting a pilot in the city of Shenzhen of a new service that makes it possible for merchants to accept contactless digital currency payments on standard NFC mobile phones. “Getting and opening an e-yuan hardware wallet is easy and can be made anonymously. .
Reltime Enables Merchants to Accept Payments in Digital Currencies and CBDCs Globally
Fintech Finance
MAY 23, 2024
Reltime , a leading innovator in blockchain and Web3 technology, is thrilled to announce the launch of its state-of-the-art Global Payment Gateway (GW), designed to empower merchants and shops worldwide to accept payments from all popular digital currencies. Digital USD/EUR, Bitcoin, Ethereum, etc.
Powell says central bank digital currency must coexist with cash
Payments Source
MARCH 18, 2021
Potential central bank digital currencies would need to be integrated into existing payment systems alongside cash and other forms of money, Federal Reserve Chair Jerome Powell said. ]].
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Bahamas Launches Digital Sand Dollar; Adds To Rise Of Central Bank Digital Currencies
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). million) of digital currency to 50,000 people chosen by lottery.
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Central bank digital currencies are diverse, but all should be open
Payments Source
AUGUST 20, 2020
A CBDC has the potential to be a real game changer for the payment industry if one condition is met: central bank digital currency has to be built as an open and shared infrastructure for the private sector to easily build on top of it, says ConsenSys' Matthieu Saint Olive.
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Fed, Central Banks Frame Criteria For Digital Currency
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 People’s Bank of China (PBOC) is already testing the renminbi, a digital currency it says will extend the yuan’s worldwide reach.
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Fed Chair Powell Urges Thorough Vetting Of Central Bank Digital Currencies
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.
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Mastercard Leads New Central Bank Digital Currency Test Platform
PYMNTS
SEPTEMBER 9, 2020
Mastercard has announced a new virtual testing platform for Central Bank Digital Currencies (CBDCs). In a Wednesday (Sept. Mastercard’s testing platform allows banks to simulate the issuance, distribution and exchange of CBDCs between banks, financial service providers and consumers.
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Alipay, UnionPay will support Mizuho's digital currency
Payments Source
FEBRUARY 22, 2019
Japan’s Mizuho Bank will unveil a digital currency platform next month with an app enabling customers to pay at participating merchants with the new J-Coin Pay via a QR code.
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AXS Partners with Triple-A to Launch Digital Currency Bill Payments in Singapore
Fintech News
JANUARY 23, 2024
Singapore-based payment solutions provider AXS has partnered with Triple-A to introduce bill payments using digital currencies through AXS’s platforms. By accepting digital currencies, AXS can enjoy reduced processing times and fees.
In Line With Digital Currency Growth, CPIC Investment Management Supports AMINA Group
The Fintech Times
JULY 12, 2024
As the popularity of digital currencies grows in the region, firms are looking to bridge the worlds of decentralised finance with traditional finance to make offerings more accessible to all. Together, CPICIMHK and AMINA Group are providing a bridge between the established financial sector and the emerging world of digital assets.
Digital Currency Monetary Authority launches an international CDBC
The Paypers
APRIL 17, 2023
The Digital Currency Monetary Authority (DCMA) has launched an international CDBC that complies with IMF-proposed crypto assets policy recommendations.
Are digital currencies imminent? Don't bank on it.
Payments Source
JANUARY 11, 2021
I look forward to seeing digital currencies brighten up our antiquated banking infrastructure and embrace the global move toward e-commerce. For now, though, I’m not holding my breath, says T1 Payments' Donald Kasdon.
Only 16% of Americans favour the government issuing central bank digital currency
The Paypers
JUNE 5, 2023
The possibility of adopting central bank digital currencies (CBDCs) is being explored by countries worldwide, including the US. However, according to the Cato Institute 2023 CBDC National Survey, a mere 16% of Americans support the adoption of a CBDC.
JPMorgan says U.S. power at risk from central bank digital currencies
Payments Source
MAY 22, 2020
As the idea of central bank digital currencies starts to gain traction, the U.S. in particular needs to pay attention or risk losing a major aspect of its geopolitical power, according to JPMorgan Chase & Co.
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AXS partners with Triple-A for digital currency payments
The Paypers
JANUARY 23, 2024
Singapore-based payment solution provider AXS has partnered with Triple-A , a global digital currency payments institution, to allow for bill payments with digital currencies.
Visa Teams With Circle On USDC Digital Currency Corporate Card
PYMNTS
DECEMBER 2, 2020
Visa will provide a credit card that allows companies to make and get payments with the digital currency via the card once Circle graduates from Visa’s Fast Track initiative. As it stands, the payment firm has onboarded 25 digital currency wallet companies with its Fast Track program such as Cred and Fold. “We
How New York's planned digital currency sidesteps Libra's issues
Payments Source
JANUARY 7, 2020
Facebook’s Libra cryptocurrency project has drawn vast political pushback, but also more tangible government action as nations globally consider central bank supported digital currencies. It’s also sparking a potential bottom-up approach in New York.
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CBDC & RBI – Navigating the Central Bank Digital Currencies Landscape
The Payments Association
JANUARY 22, 2024
In the realm of finance, this sentiment rings especially true as we stand on the cusp of a digital revolution with the advent […] Read more The future depends on what you do today.
Sweden’s Central Bank Floats E-Krona As Digital Currency
PYMNTS
FEBRUARY 21, 2020
Sweden’s Riksbank is assessing e-krona, a new form of digital currency that hopes to take the country a step closer to the creation of the world’s first central bank digital currency (CBDC), according to reports on Thursday (Feb.
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Libra Launch Signals Sparks Between Big Tech, Central Banks On Digital Currencies
PYMNTS
DECEMBER 1, 2020
It’s been more than a year in the making — with no shortage of caution and criticism by lawmakers and regulators here in the states and in Europe — but Libra, the digital currency backed by Facebook and a revolving cast of other tech firms, could debut as early as next month. In fact, J.P.
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The Fed drafts MIT to bring U.S. up to speed in the digital currency race
Payments Source
AUGUST 21, 2020
The global digital currency race has heightened the threat to traditional monetary policy and the dollar’s dominance, enough for the Federal Reserve of Boston to make a concerted effort to keep pace.
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Agricultural Bank Of China Tests App For Country’s Digital Currency
PYMNTS
APRIL 14, 2020
One of China’s state-owned banks has a mobile test app that supports the country’s central bank digital currency, according to a CoinDesk report. Testing the app is a sign the giant lender is working to launch the development and deployment work of rolling out the nation’s digital currency, the report said.
AXS partners with Triple-A for digital currency payments
The Paypers
JANUARY 23, 2024
Singapore-based payment solution provider AXS has partnered with Triple-A , a global digital currency payments institution, to allow for bill payments with digital currencies.
Bank Of Korea To Begin Testing Distribution Of Digital Currency
PYMNTS
OCTOBER 7, 2020
The Bank of Korea has said it plans to begin testing distribution of its digital currency next year, according to a report by The Korea Herald. The project isn't an indication that the Bank of Korea is officially launching a digital currency — just that it is testing how that would work.
Will The Pandemic Finally Get Central Banks Interested In Building Digital Currencies?
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
Why Accounts Receivable Is Warming Up To Digital Currency
PYMNTS
MAY 1, 2020
In many ways, the rise of crypto and digital currencies like Bitcoin aims to address some of these issues, empowering payers and payees with a way of bypassing the “middleman” of the inter-banking system for faster transaction speeds. .” That doesn’t mean digital currencies aren’t in the cards, however.
Central Bank Of Bahamas To Introduce Digital Currency
PYMNTS
DECEMBER 26, 2019
The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release. The intent is to start a fully-fledged central bank digital currency (CBDC). 27) in Exuma.
Retail central bank digital currency: Motivations, opportunities, and mistakes
The Payments Association
JUNE 14, 2024
Exploring the shift to digital payments, the role of CBDCs, and the strategic implications for central banks. Read more
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China Proposes East-Asian Digital Currency, Taking Aim At The US Dollar
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. The idea of creating a digital coin backed by a basket of multiple currencies isn’t actually new.
Bank of England debating digital currency creation, Bailey says
Payments Source
JULY 13, 2020
The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey.
FedNow is necessary, Fed digital currency is not: Mester
Payments Source
NOVEMBER 24, 2019
The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries.
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