Payments Dive

APRIL 1, 2022

Ted Cruz's legislation, which follows a companion House bill introduced earlier this year, would prevent the Federal Reserve from issuing a central bank digital currency directly to consumers.

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PYMNTS

OCTOBER 19, 2020

Federal Reserve Board Chair Jerome Powell sounded a cautionary note on Monday (Oct. 19) on the bank’s potential rollout of a digital currency. The Fed chief made his comments as part of a panel discussion on digital currencies hosted by the International Monetary Fund (IMF).

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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. With so many countries looking towards centralised digital assets, we set out to find out how these would impact the cross-border payments market.

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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. With the rise of digital payments, cryptocurrencies, and fintech innovations, CBDCs represent a new frontier in the evolution of money.

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The Paypers

MARCH 30, 2021

The Federal Reserve of the US is actively working on a central bank digital currency and some prototypes are near completion.

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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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The Paypers

OCTOBER 13, 2021

Deloitte has launched a report on central bank digital currencies , in the context of the Federal Reserve preparing to launch a review of whether to implement its own digital currency soon.

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Payments Source

MARCH 11, 2021

Some bank regulators are allowing companies that offer digital currencies to apply for a charter, potentially giving them a path to the Federal Reserve system without proper oversight.

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PYMNTS

MAY 21, 2020

The effort toward digital dollars may be getting a bit of a nudge from the private sector, too. Patent and Trademark Office that would create a digital currency underpinned by blockchain technology. And yet there may be a wide gulf between exploration of digital currencies and their possible deployment.

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Payments Source

APRIL 9, 2020

The implementation of a digital dollar solution would quite likely precipitate future developments in the digital identity space, given the synergy of a dual-architecture solution, says Diginex's Mark Blick.

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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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PYMNTS

SEPTEMBER 25, 2020

Digital dollars could make the leap from concept to reality, but there might be a few ways to get there. Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America.

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Fintech News

DECEMBER 10, 2023

The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.

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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. euros (at least at present).

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Payments Dive

FEBRUARY 10, 2025

Republican senators revived a bill last week to block the Federal Reserve from creating a central bank digital currency.

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PYMNTS

JUNE 8, 2020

United Nations global blockchain expert Massimo Buonomo has foreseen a future where digital currencies could replace low-interest bank accounts, Coindesk reports. In addition, Buonomo said digital currencies, especially central bank digital currencies (CBDC) may eventually be able to replace all bank accounts.

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PYMNTS

MARCH 23, 2020

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. Neither bill specifies the use of any type of digital currency initiative. Finance reported. .

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The Payments Association

DECEMBER 17, 2024

I am excited to join Ripples advisory board at such a pivotal moment for digital finance, said Kenneth Montgomery, former First Vice President and Chief Operating Officer at the Federal Reserve Bank of Boston.

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PYMNTS

MARCH 23, 2020

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. Neither bill specifies the use of any type of digital currency initiative. Finance reported. .

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PYMNTS

NOVEMBER 12, 2020

Christine Lagarde , European Central Bank (ECB) president, said the ECB could make its own digital currency within a few years, which could change up the eurozone financial sector drastically, Bloomberg reported. Federal Reserve Chair Jerome Powell and Bank of England Gov.

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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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PYMNTS

JUNE 23, 2020

Federal Reserve has introduced a new effort to combat payments fraud. According to the announcement, the Bank of Thailand is planning to use central bank digital currency (CBDC) to support funds transfer, with an eye on accelerating supplier payments as an early use-case of the payment system. In the U.S.,

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Payments Dive

SEPTEMBER 2, 2022

recommends limited implementation of a central bank digital currency if the Federal Reserve pursues that digital dollar. The biggest payment system in the U.S.

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PYMNTS

AUGUST 5, 2020

In other news, the Federal Reserve ’s relaxation of monetary policy could bolster the price of bitcoin, with analysts seeing bitcoin potentially reaching a value of $50,000, CoinDesk reported. . “The aggregate rewards available under this program could be worth up to approximately $400 million,” according to the statement.

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PYMNTS

OCTOBER 3, 2019

While Philadelphia Federal Reserve Bank President Patrick Harker believes it’s “inevitable” that central banks will eventually issue digital currencies, he warned that the United States shouldn’t be first in line. He admitted that when it comes to the future of the Fed, digital currency will most likely play a part. “I

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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.

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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.,

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PYMNTS

OCTOBER 9, 2020

In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5 Fed, Central Banks Frame Criteria For Digital Currency. million boost. Plus, Affirm files for an IPO. Amazon India Gets $95.5M

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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.

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Payments Source

JANUARY 7, 2019

Despite some growing support for central banks issuing digital currencies, the practice raises important privacy concerns and questions about the structure of the banking system.

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PYMNTS

OCTOBER 12, 2020

But there’s room for co-existence of cash and digital currencies. The recently released report by the Bank for International Settlements ( BIS ) offers a general framework for digital currencies. And digital money, according to the BIS, will have to take its place alongside paper bills and coins.

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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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PYMNTS

APRIL 13, 2020

In other words, the recipients would create checking accounts at the Federal Reserve Banks (there are 12 of them). This time around, the digital dollar would be a greenback, done in bits and bytes. There’s at least some tailwind for digital dollars to gain traction in the current and post-COVID-19 world.

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Stax

APRIL 10, 2025

An ACH transfer is an electronic movement of funds from one bank account to another via the ACH (automated clearing house) network, while a wire transfer uses a secure network like SWIFT (Society for Worldwide Interbank Financial Telecommunication) or Fedwire (Federal Reserve Wire Network) to initiate the movement of funds.

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PYMNTS

DECEMBER 3, 2020

Today in B2B payments, Visa embraces the USDC digital currency for corporate payments. Plus, Basware enhances its accounts payable (AP) offering, CardUp eases commercial card adoption, Kofax adds new AP features and the Federal Reserve eyes bank lending. Visa Teams With Circle on USDC Digital Currency Corporate Card.

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PYMNTS

AUGUST 21, 2020

Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Central bank digital currencies (or CBDCs) have been gathering steam, at least as a concept.

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PYMNTS

DECEMBER 24, 2020

If one measures success for digital currencies in buzz — and in price appreciation for many of the marquee names — then 2020 stands out as a banner year. Blockchain is taking root as the underlying infrastructure of digital currency issuance, and a broad swath of central banks are examining issuing digital fiat.

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