Fintech News

NOVEMBER 11, 2024

The Bundesbank will participate in various pilot projects testing specific use cases for asset tokenisation, exploring its feasibility and its potential benefits for capital markets, and examining how it can leverage network effects. The Bundesbank is very pleased to be cooperating with a partner that is as competent as MAS.”

Central Bank 102

Central Bank Distributed Ledger Technology (DLT) Interoperability Cross-Border 102

The Fintech Times

NOVEMBER 23, 2024

To enable this, Chainlink will use its Cross-Chain Interoperability Protocol (CCIP) to enable interoperability between Drex and foreign central banks, ensuring that transactions are compatible and settled efficiently. 7COMm will support the technical implementation delivery. 7COMm will support the technical implementation delivery.

CBDC 64

CBDC Central Bank Cross-Border Finance 64

Fintech News

NOVEMBER 3, 2024

To speed up progress, MAS is now pushing for participants to commercialise their findings, fostering a connected network for trading tokenised assets. The SGD Testnet will be made available to eligible financial institutions participating in Project Guardian and Project Orchid, enabling them to settle transactions with S$ wholesale CBDC.

CBDC 88

CBDC Settlement Digital Currency Cross-Border 88

Fintech News

JUNE 12, 2024

Participants reflected on the progress made to date, discussed potential opportunities and challenges, and shared lessons learned from their respective journeys. As multilateral platforms scale, the governance framework must evolve to keep up with changes in board participation, voting rules, regional representation, and economic models.

Cross-Border Payments 94

Cross-Border Payments Cross-Border Interoperability Payments 94

The Fintech Times

APRIL 17, 2024

Key participants in the UK initiative include Barclays, Citi, HSBC, Lloyds Banking Group, Mastercard, NatWest, Nationwide, Santander, Standard Chartered, Virgin Money and Visa. This strategic choice highlights their complementary methods in achieving interoperability as well as seamless integration.

Payment APIs and Integration 137

Payment APIs and Integration Blockchain Finance Digital Payments 137

Fintech News

JANUARY 15, 2024

Building upon SGQR, SGQR+ represents the next generation of interoperable payments for merchants., designed to align with the country’s vision of a seamless, accessible, and interoperable payments ecosystem. Here are five interesting takeaways gathered from the interoperable SGQR+ trials.

Interoperability 95

Interoperability Cross-Border Payments Financial Inclusion 95

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 75

Interoperability Payments Payments Institute Facilitators 75

Open Banking Excellence

MAY 2, 2024

Interoperability and international expansion A key strategic outcome from all our activities in this space is to drive the creation of business models which are scalable outside of Georgia. We are an observing member of Project mBridge, which is focused on interoperable CBDCs. We are not just limited to the Berlin standards.

Interoperability 147

Interoperability Payment APIs and Integration Central Bank Cross-Border 147

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) 76

Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Settlement Interoperability 76

Fintech Review

OCTOBER 9, 2024

All participants have the opportunity to secure major rewards by joining, depositing, and trading. By completing the task, participants automatically enter the ATLETA-Bybit Lucky Draw. The Olympia Testnet gave the team a real-world look at ATLETA’s smooth cross-chain interoperability and real-time data tracking.

Participant 52

Participant Blockchain Interoperability Blocks 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 92

CBDC SWIFT Interoperability Settlement 92

The Fintech Times

NOVEMBER 4, 2024

We are encouraged by the keen participation from financial institutions and fellow policymakers to co-create industry standards and risk management frameworks to facilitate commercial deployment of tokenised capital markets products, and scale tokenised markets on an industry-wide basis.”

Authorization 83

Authorization CBDC Multi-Currency Settlement 83

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 Government 52

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 99

Instant Payments Facilitators ISO 20022 Message Standards 99

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 93

CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 93

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 79

Best Practices Interoperability Blockchain Participant 79

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 101

CBDC Transactions Payment APIs and Integration Cross-Border 101

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

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

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

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

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

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 119

ISO 20022 APACS SWIFT ISOs 119

Fintech Finance

JUNE 18, 2024

STET’s platform uses ACI Low Value Real-Time Payments as a SaaS service, offering sophisticated routing and processing capabilities to enable its 20 member banks to connect directly to the European schemes, TIPS and RT1, hence providing full pan-European reachability and interoperability for instant payments.

Cross-Border 82

Cross-Border Cross-Border Payments Transactions Instant Payments 82

Fintech Finance

OCTOBER 30, 2024

Following Adhara’s parallel simulation, participants will also have the opportunity to engage with its MarginBloc solution. Edward Budd, Co-Founder of Adhara, said: “Managing these margin payments for uncleared transactions has allowed us to see first-hand the benefits that can be brought to participants.

Distributed Ledger Technology (DLT) 74

Distributed Ledger Technology (DLT) Liquidity Management Central Bank Payments 74

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 95

Instant Payments Online and Mobile Banking Processors Payments 95

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 91

Cross-Border Correspondent Bank Multi-Currency Settlement 91

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

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 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 70

Treasury Blockchain Cross-Border Payments Multi-Currency 70

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

The Fintech Times

NOVEMBER 8, 2024

Pilot participant Janko Hahn , head of treasury operations at Autoneum , said: “The UBS Digital Cash pilot showcased the key advantages of blockchain-based payment solutions. The post UBS Successfully Pilots Blockchain-based Payment Solution for Cross-Border Transactions appeared first on The Fintech Times.

Cross-Border 59

Cross-Border Cross-Border Payments Payment Solutions Blockchain 59

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

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 News

NOVEMBER 12, 2024

The ninth edition of the Singapore Fintech Festival (SFF) wrapped up on 8th November, concluding a dynamic week-long of celebration of fintech that brought together tens of thousands of participants from around the world. However, challenges remain, particularly regarding interoperability.

FinTech 87

FinTech Cross-Border Payments Cross-Border Payment APIs and Integration 87