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

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.

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Central Bank Digital Currency Visa CBDC 132

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!

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

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

Finextra

JUNE 18, 2024

There has been a sharp uptick in experiments and pilots with wholesale central bank digital currencies over the last year, according to the Bank for International Settlements.

Digital Currency 98

Digital Currency Central Bank Settlement 98

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

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Digital Currency Central Bank CBDC Federal Reserve 97

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.

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Metaverse On-Demand Digital Currency Central Bank 130

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

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. Swift is also addressing the growing fragmentation in the digital asset ecosystem.

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SWIFT Multi-Currency CBDC Interoperability 145

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.

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Digital Currency CBDC Central Bank Settlement 53

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

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

MAY 29, 2019

A European Central Bank ( ECB ) official is throwing his support towards wholesale central bank digital currencies (CBDCs). A wholesale CBDC could be used to boost payments and securities settlement efficiency, as well as to reduce counterparty credit and liquidity risks, he said, according to CoinDesk. “[A

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Central Bank Digital Currency CBDC Liquidity Risk 76

Fintech News

JUNE 4, 2024

The Bank for International Settlements (BIS) has launched Project Rialto to test the potential for improving instant cross-border payments through a combination of a modular foreign exchange (FX) component and wholesale central bank digital currencies (wCBDC).

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Cross-Border Payments Cross-Border CBDC Settlement 78

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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Digital Currency Fed CBDC Federal Reserve 52

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.”.

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Digital Currency B2B Funds Transfer Settlement 52

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

MAY 22, 2020

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. . The digital currency would be backed by the yuan, the Korean won, the Japanese yen and the Hong Kong dollar. .

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Digital Currency Cross-Border Settlement Bitcoin Central Bank 56

Fintech Finance

SEPTEMBER 10, 2024

Like Accenture, EMTECH works with financial institutions to solve pressing challenges, such as testing new banking applications, meeting regulatory criteria, accelerating payments and settlement times, and driving financial inclusion for the unbanked and other parts of society that have been excluded.

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Central Bank Digital Currency CBDC Financial Inclusion 98

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

Fintech News

MARCH 18, 2024

This initiative aims to offer users more convenience by enabling the conversion of digital currencies into spendable funds within their GrabPay Wallets. This top-up method went live on 12 March 2024. experiences among its users in Singapore. experiences among its users in Singapore.

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Stablecoins Digital Currency Non-Bank Blockchain 105

PYMNTS

MAY 22, 2020

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. . The digital currency would be backed by the yuan, the Korean won, the Japanese yen and the Hong Kong dollar. .

Digital Currency 64

Digital Currency Cross-Border Settlement Central Bank Cross-Border 64

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

The Fintech Times

AUGUST 28, 2024

Looking to harness this potential, the Hong Kong Monetary Authority (HKMA) launched ‘Project Ensemble’ in March earlier this year, a wholesale central bank digital currency (wCBDC) project, to support the development of the tokenisation market in the region.

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Interbank Settlement CBDC Settlement Use Case 134

Fintech News

DECEMBER 11, 2023

SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, and Giesecke+Devrient (G+D) successfully completed a proof-of-concept (PoC) on the Universal Digital Payments Network (UDPN). Meanwhile, the the direct model is where central banks manage wallets and settlements within a centralised CBDC system.

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CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 99

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.

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Digital Currency Accounts Money Laundering Central Bank 53

The Paypers

MARCH 6, 2024

BRICS has made efforts to create payment system based on digital currencies and blockchain to reduce reliance on US dollars in settlement.

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Blockchain Digital Currency Settlement Payments 69

PYMNTS

DECEMBER 27, 2020

Japan might look into launching its own central bank digital currency (CBDC) in both the public and private sectors, according to a report from Japan Times. The exchange will close trading services on Jan. 10, 2021 at 1 p.m., and the anticipated hard shutdown will take place Jan. 29, 2021, the blog says.

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CBDC Bitcoin Digital Currency Cryptocurrency 101

PYMNTS

SEPTEMBER 9, 2020

An ambitious initiative to implement digital versions of worldwide currencies is unlikely to get off the ground this year, officials said, as reported by Reuters. The project, previously known as the Utility Settlement Coin initiative, involves 13 of the world's largest banks and would entail making digital versions of the U.S.

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Settlement Digital Currency Blockchain Laws 60

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). Moreover, tokenised securities offer the potential for shorter settlement periods.

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Fintech News

AUGUST 8, 2024

This connectivity is not just a technical necessity but a strategic imperative for seamless settlement, reconciliation and post-trade operations, enhanced transparency, and operational efficiency. As the industry evolves, adopting robust standards like ISO 20022 becomes crucial for driving these benefits.

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ISO 20022 APACS SWIFT ISOs 124

The Paypers

FEBRUARY 24, 2021

Atlantic-Pacific Processing Systems (APPS) has partnered with blockchain provider Global Oculus to pilot a real-time digital currency acceptance, clearing and settlement solution.

Digital Currency 28

Digital Currency Settlement Blockchain Process 28

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

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 96

Cross-Border Payments Cross-Border Cross-Border Settlement Financial Inclusion 96

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

Clearly Payments

JANUARY 4, 2024

As digital currencies grow in popularity , merchants around the world are exploring the potential benefits of accepting payments in cryptocurrency. Faster Settlements: Cryptocurrency transactions are typically faster than traditional banking transactions, providing merchants with quicker access to funds. What are Stablecoins?

Cryptocurrency 105

Cryptocurrency Stablecoins Cross-Border Payments Digital Currency 105

PYMNTS

OCTOBER 25, 2019

Enterprise software firm SAP is teaming up with professional services firm Accenture and blockchain company R3 to develop a distributed ledger technology (DLT) solution that aims to accelerate the settlement of payments between banks and customers. A press release issued on Thursday (Oct. A press release issued on Thursday (Oct. ”

Real Time Gross Settlement (RTGS) 40

Real Time Gross Settlement (RTGS) Settlement Distributed Ledger Technology (DLT) Blockchain 40