Fintech News

JULY 9, 2024

The company also collaborates with DBS Bank, Google Pay, United Overseas Bank, and Singtel Dash as part of its loyalty program to enable interoperable payments. Fave has previously contributed to the development of Singapore’s fintech ecosystem, notably participating in MAS’ SGQR+ Proof of Concept to improve QR payment interoperability.

Interoperability 85

Interoperability Payments Payments Institute Facilitators 85

Fintech Finance

JUNE 17, 2024

It will also explore additional features that could form part of an SO’s offering, such as those that could help reduce the liquidity needs of participants. Meridian FX will also connect an RTGS system with a DLT-based settlement platform, testing how the SO could support interoperability between existing and new ledger technologies.

Real Time Gross Settlement (RTGS) 95

Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Settlement Interoperability 95

Fintech Review

OCTOBER 1, 2024

Users who had participated more actively saw a significantly higher share of the rewards pool. Even more rewards were available for voting in Polkadot’s governance system (OpenGov) and participating in crowdloans. For example: If one had staked their DOT , they could have received additional MYTH tokens.

Interoperability 52

Interoperability Blockchain Participant Governance 52

The Fintech Times

JULY 17, 2024

. “GDF serves the digital asset community as an open innovation and standards platform and we welcome the opportunity to partner with industry leaders like GLEIF, to help set and better promote standards that enable a better integrated, efficient and interoperable digital financial system for all market participants.”

Best Practices 113

Best Practices Interoperability Message Standards Legal 113

Fintech News

MARCH 25, 2024

Over the last six months, 38 global institutions participated in Swift’s CBDC sandbox, marking it as one of the most extensive CBDC experiments to date. Specifically, in digital trade, the experiments proved the capability for interoperability among diverse digital networks, facilitating atomic trade payments.

CBDC 102

CBDC SWIFT Interoperability Settlement 102

Fintech Finance

JULY 11, 2024

All active participants in the Swiss customer payment transactions system via SIC are expected to be capable of processing incoming customer payments instantaneously by the end of 2026. The post Finastra Facilitates Connection of Swiss Banks in Readiness for New SIC Instant Payments Service appeared first on Fintech Finance.

Instant Payments 115

Instant Payments Facilitators ISO 20022 Message Standards 115

Fintech Finance

OCTOBER 15, 2024

The RoPay service is being gradually rolled out, as participating banks introduce new features and cover more use cases, while users get accustomed to the service. The standardization through the RoPay Scheme ensures interoperability and simplicity for consumers, banks, payment processors, and merchants.

Instant Payments 88

Instant Payments Online and Mobile Banking Processors Payments 88

Fintech News

MAY 14, 2024

Deutsche Bank has announced its participation in the Monetary Authority of Singapore’s (MAS) Project Guardian. Within the asset and wealth management workstream, Deutsche Bank will test an open architecture and interoperable blockchain platform for servicing tokenised and digital funds.

Best Practices 90

Best Practices Interoperability Blockchain Participant 90

Fintech News

DECEMBER 11, 2023

Commercial bank participants, through their own instances of UDPN Business Nodes, can actively engage in various activities, such as CBDC issuance (for issuing banks), wallet creation, linking wallets to bank accounts and KYC systems, fiat-CBDC exchange, AML/CFT compliance, and initiation of CBDC transfers, swaps, and settlement.

CBDC 104

CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 104

Open Banking Excellence

JULY 1, 2024

With the UK government continuing to support the UK’s broader fintech environment and promote open banking innovation, Open Banking in a Box will champion the UK’s world-leading open banking standards and make the case for greater cross-border interoperability that will benefit UK PLC and support financial inclusion globally.

Use Case 130

Use Case Cross-Border Regulations Best Practices 130

Fintech News

MAY 27, 2024

CBDC for cross-border payments, programmable money, and DeFi Kazakhstan’s Digital Tenge project is pursuing several ambitious goals: intensifying cross-border trade, implementing innovative social and anti-corruption initiatives, and integrating digital assets issued by decentralised finance (DeFi) participants and those issued by the government.

CBDC 113

CBDC Transactions Payment APIs and Integration Cross-Border 113

Tearsheet

APRIL 22, 2024

Visa introduced the Visa+ service in April last year to bridge the gap among various apps in the peer-to-peer (P2P) payments space, allowing for real-time payouts to participating digital wallets. From there, a sender can enter the recipient’s Visa+ payname in their participating wallet app and submit the payment.

Venmo 98

Venmo PayPal Payment APIs and Integration P2P 98

The Fintech Times

JULY 15, 2024

By August 2023, the 50 largest banks in S witzerland must be capable of processing instant interbank payments, with all participants in the Swiss customer payment system expected to achieve this capability by the end of 2026.

Instant Payments 72

Instant Payments ISO 20022 Fraud Prevention Message Standards 72

Fintech Finance

MARCH 26, 2024

Interoperability is critical to Swift’s strategy for instant and frictionless transactions. Participants also highlighted the solution’s potential to reduce delays in global trade, enhance trust among parties, and significantly lower transaction costs. More than 750 transactions were carried out over the course of the experiments.

Cross-Border 52

Cross-Border Use Case SWIFT CBDC 52

Fintech News

AUGUST 8, 2024

In the dynamic financial landscape of the Asia-Pacific (APAC) region, private banks, asset managers, fund managers, and other capital market participants are increasingly recognising the pivotal role of Swift connectivity. It is also essential to collaborate on interoperability between traditional finance and tokenised/digital assets.

ISO 20022 124

ISO 20022 APACS SWIFT ISOs 124

The Fintech Times

MARCH 28, 2024

” With a focus on global interoperability, regulatory assurance, and market credibility, the partnership is a giant step towards ensuring streamlined and interconnected cryptocurrency transactions. Ensuring interoperability in the crypto space Founded in 2017, Binance has been among Sumsub’s clients since 2021.

Travel Rule 64

Travel Rule Rules Interoperability Deepfake 64

Fintech News

JULY 14, 2024

Partior, a fintech known for its global unified ledger based interbank rails for real-time clearing and settlement, has announced the first close of an over US$60 million Series B funding round led by Peak XV Partners, with participation from Valor Capital Group and Jump Trading Group as new investors. Existing shareholders J.P.

Cross-Border 101

Cross-Border Correspondent Bank Multi-Currency Settlement 101

Fi911

APRIL 23, 2024

While this has brought about a plethora of options from PayPal to Venmo, it has also led to a fragmented ecosystem where interoperability has been a significant challenge. Users will create a unique Visa+ payname linked to their existing account on a participating platform such as PayPal or Venmo. How Does Visa+ Work? Is Visa+ Live?

Venmo 52

Venmo CashApp P2P Interoperability 52

Fintech Finance

FEBRUARY 6, 2024

” NPS-NCS and NEPALPAY are part of the National Payment Switch (NPS) initiative, the core infrastructure for routing and settlement of retail transactions to ensure interoperability of card and non-card-based payments within Nepal. Currently, domestic card transactions are routed through international payment gateways. .”

Interoperability 64

Interoperability Real Time Payments Non-Bank Financial Inclusion 64

Fintech News

AUGUST 12, 2024

DBS’ blockchain is compatible with the Ethereum Virtual Machine (EVM) and integrates with its core payments system, enhancing interoperability with various industry payment infrastructures. This launch underscores how established financial institutions can utilise blockchain technology to offer advanced, 24/7 banking services.

Treasury 78

Treasury Blockchain Cross-Border Payments Multi-Currency 78

Fintech Review

JULY 18, 2024

The EarnOS launch on the XION blockchain saw remarkable results, with over 200,000 verified users participating and more than 1,300,000 unique brand interactions ranging from social media acquisitions, bespoke advertisement campaigns, immersive augmented reality experiences and more.

Blockchain 52

Blockchain Participant Interoperability Acquirers 52

The Fintech Times

MAY 29, 2024

The Interledger Foundation , an organisation building and advocating for an open, interoperable payment network, is introducing a new initiative to fund fintechs that leverage its Interledger Protocol (ILP) to bring payment capabilities to emerging markets and underserved populations.

Instant Payments 69

Instant Payments Cross-Border Payments Financial Inclusion Underserved 69

Fintech Review

JULY 10, 2024

By leveraging cryptocurrencies and smart contracts, DeFi circumvents barriers such as geographic limitations and bureaucratic hurdles, thereby empowering users to actively participate in global financial markets. Interoperability with traditional financial systems presents another significant hurdle.

Finance 97

Finance Financial Inclusion Underserved Blockchain 97

The Fintech Times

MAY 18, 2024

Over the next six months, onboarded companies will conduct trials and experiments on three Eurosystem interoperability-type solutions proposed for central bank money settlement of wholesale financial transactions recorded on DLT platforms. The participating companies will perform the assessment in cooperation with Eurosystem.

Central Bank 75

Central Bank Settlement Distributed Ledger Technology (DLT) Interoperability 75

Fintech Review

AUGUST 27, 2024

However, one of the significant challenges it faces is interoperability between different blockchain networks. Cross-chain interoperability aims to address this issue, enabling seamless communication and transactions across various blockchain platforms. Interoperability is vital for several reasons.

Interoperability 105

Interoperability Blockchain Facilitators Innovation 105

The Fintech Times

SEPTEMBER 2, 2024

Among the companies now participating are Amazon Web Services (AWS), Barclays, HSBC, Mastercard and Revolut. CFIT’s coalition will conduct research and testing over the coming months, focusing on making digital verification more robust and interoperable across different financial institutions.

Crime 59

Crime Verification Interoperability Participant 59

Fintech Finance

AUGUST 14, 2024

This greatly enhances extensibility and interoperability with multiple industry payment infrastructures that DBS is involved in. The post DBS Launches Blockchain-Powered Treasury Tokens Pilot With Ant International for 24/7 Treasury and Liquidity Management appeared first on FF News | Fintech Finance.

Liquidity Management 98

Liquidity Management Treasury Multi-Currency Cross-Border Payments 98

Fintech Finance

AUGUST 22, 2024

The NPP was launched in Australia in 2018 to enable real-time payments 24/7 between participating financial institutions. The platform not only enhances the speed and efficiency of domestic transactions but also recently introduced instant interoperability via the IPS.

Cross-Border Payments 97

Cross-Border Payments Near Real-Time Cross-Border Settlement 97

Finovate

OCTOBER 16, 2024

Of the FedNow participants, 78% are community banks and credit unions. There are a handful of reasons why firms might be hesitant to participate in FedNow. Additionally, banks may be holding back because of the fees that come with participating in FedNow. per RFP message, charged to the requestor.

FedNow 59

FedNow Instant Payments Disputes Federal Reserve 59

The Fintech Times

FEBRUARY 11, 2024

This issuance, building on Project Genesis, introduces advancements in investor participation, streamlining the issuance process, standardisation, and transparency. International investors can now access Digital Green Bonds through Euroclear or Clearstream, enhancing liquidity and potential interoperability.

Governance 64

Governance Government Innovation FinTech 64

Fintech News

JUNE 19, 2024

Purpose Bound Money: Piloting Real-World Interoperable Payments While stablecoins offer advantages in terms of speed and efficiency in theory, StraitsX has taken the concept a step closer to reality with the development of purpose bound money (PBM). Project Orchid, and the 1st use of purpose bound money, in partnership with Grab.

Stablecoins 102

Stablecoins Cross-Border Cross-Border Payments Blockchain 102

Fintech Finance

APRIL 4, 2024

As an early participant in the RTP® network and top 3 RTP® originator, Cross River first collaborated with Trustly to provide access to The Clearing House’s RTP® network, where together, they are leading RTP® adoption. Trustly and Cross River have long served as pioneers in the instant payment industry.

FedNow 45

FedNow Instant Payments RTP Interoperability 45

The Fintech Times

DECEMBER 15, 2023

Corda offers a permissioned ledger, asset modelling capabilities and a multi-party workflow engine in one interoperable and scalable distributed platform. David Rutter , chief executive officer at R3, said: “R3 is delighted to be partnering with Emirates NBD by participating in its new Digital Asset Lab.

Multi-Currency 103

Multi-Currency Interoperability Innovation Regulations 103

Fintech Finance

JUNE 5, 2024

UPI’s collaborative and open banking ethos enables greater connectivity and interoperability with both domestic and international payment networks and will foster innovation and resilience in the Peruvian payment ecosystem.

Real Time Payments 52

Real Time Payments Financial Inclusion Agreements International Payments 52

Fintech News

MAY 21, 2024

Source; SBI DAH The Future of Digital Assets: CBDCs and Cryptocurrencies Looking ahead, the survey participants anticipate greater adoption of various digital assets over the next three years. Nearly a quarter (23.5%) of the participants cited this as the key impediment to investing in digital assets.

Settlement 135

Settlement Cryptocurrency Blockchain Digital Currency 135

Fintech News

MAY 8, 2024

In 2022, the BOT initiated a Retail CBDC Hackathon to encourage public participation and promote private-public collaboration in developing CBDC proof-of-concept initiatives. The project evolved, incorporating enhanced functionalities, cross-border fund transfers, and a Corporate CBDC Pilot Program.

CBDC 116

CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank 116

Fintech Finance

JULY 10, 2024

It will enable interoperability among PayNet, RENTAS, and SWIFT using ISO 20022 standards. ACI also provides the central infrastructure for Indonesia’s BI-FAST, one of the world’s largest real-time payment initiatives that incorporates 135 banks, multi-tenant aggregators, and non-bank participants.

ISO 20022 98

ISO 20022 Real Time Payments ISOs Payments 98