Remove Distributed Ledger Technology (DLT) Remove Innovation Remove Participant
article thumbnail

Bank of Thailand to Test Programmable Payments in Enhanced Sandbox

Fintech News

This initiative responds to the rapid and complex development of financial innovations, such as distributed ledger technology (DLT) and smart contracts, which are transforming financial services. Applications are open from 13 June 13 to 13 September 2024.

article thumbnail

Project mBridge Reaches MVP Stage, Expands International Participation

The Fintech Times

This project aims to create a multi-central bank digital currency (CBDC) platform for instant cross-border payments and settlements, leveraging distributed ledger technology (DLT). The platform now invites further international participation and private sector proposals for value-added solutions.

article thumbnail

Project Meridian FX: Joint Project by the Eurosystem and London Centres, and the Bank of England, to Test Synchronised Settlement in FX

Fintech Finance

The Eurosystem and London Centres of the BIS Innovation Hub, together with the Bank of England , have launched Project Meridian FX, to build on the findings of Project Meridian by focusing on foreign exchange (FX) transactions.

article thumbnail

SC Ventures and G+D Complete Pilot on Different Types of CBDC Systems

Fintech News

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). The indirect model featured an on-chain DLT-based solution developed by UDPN engineers. The PoC explored two models.

CBDC 109
article thumbnail

Joint Statement: EU-UK Financial Regulatory Forum, May 2024

Neopay

The EU and the UK provided views and updates on recent developments in digital innovation in the financial sector. Participants discussed operational resilience and agreed to explore ways to strengthen cooperation between their respective evolving oversight regimes for critical third party (CTP) service providers to the financial sector.

article thumbnail

Eurosystem Completes First of Many Experiments To Test DLT Central Bank Money Settlements

The Fintech Times

Eurosystem , the monetary authority of the eurozone, has been exploring the possible use cases of distributed ledger technology (DLT) to conduct wholesale settlement in central bank money. It has now completed its first experiment using DLT, giving the monetary authority a glimpse into the potential merits of the tech.

article thumbnail

Trade Finance Poised for Digital Revolution Though Obstacles Remain

Fintech News

The guide provides a practical toolkit for the industry, leveraging expert opinions from various stakeholders to explore the role of banks in digitalization initiatives, legal frameworks, international standards and innovative technologies.

Finance 122