Finextra

APRIL 8, 2024

The European Central Bank has put together a host of participants for exploratory work on the use of distributed ledger technology to settle wholesale transactions in central bank money.

Central Bank 126

Central Bank Settlement Participant Transactions 126

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) 97

Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Settlement Interoperability 97

Finextra

JUNE 26, 2024

Boerse Stuttgart Group is the only exchange operator in Europe to have successfully applied for the second wave of the European Central Bank's (ECB) EU-wide tests, in which the settlement of blockchain-based financial transactions against central bank money is being explored.

Participant 59

Participant Blockchain Central Bank Settlement 59

The Fintech Times

DECEMBER 6, 2023

RTGS.global, a settlement company focused on enhancing cross-border payments, is celebrating a significant milestone with the successful completion of an inaugural instant settlement cross-border transaction via its global network.

Cross-Border Settlement 59

Cross-Border Settlement Cross-Border Settlement Cross-Border Payments 59

The Fintech Times

AUGUST 28, 2024

Through the project , HKMA explores financial market infrastructure that facilitates seamless interbank settlement of tokenised money through a wCBDC. Having completed building the sandbox, HKMA will use it to facilitate interbank settlement using experimental tokenised money, focusing on transactions involving these tokenised assets.

Interbank Settlement 134

Interbank Settlement CBDC Settlement Use Case 134

Fintech News

APRIL 3, 2024

The Bank for International Settlements (BIS) , in concert with seven prominent central banks, has embarked on an exploratory project known as Project Agorá aiming to modernise international monetary transactions. Being a member of the IIF is not a requirement to participate.

Cross-Border Payments 122

Cross-Border Payments Cross-Border Central Bank Federal Reserve 122

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 106

Cross-Border Correspondent Bank Multi-Currency Settlement 106

Fintech News

MAY 15, 2024

Project Agorá, an initiative by the Bank for International Settlements (BIS) alongside major central banks and the Institute of International Finance (IIF), is moving forward and inviting private sector involvement. Smart contracts could revolutionise settlement processes, allowing for transactions that are currently impractical.

Cross-Border Payments 145

Cross-Border Payments Cross-Border Federal Reserve Central Bank 145

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).

Cross-Border Payments 100

Cross-Border Payments Cross-Border CBDC Settlement 100

Payments Dive

MAY 17, 2024

The Bank for International Settlements is seeking private sector participation in a smart-contract project designed by seven central banks to improve cross-border payments.

Cross-Border Payments 78

Cross-Border Payments Cross-Border Central Bank Settlement 78

Tom Groenfeldt

NOVEMBER 28, 2018

CLS is extending its facilities for FX matching to currencies that aren't included in its settlement services, using distributed ledger technology.

Settlement 40

Settlement Participant Technology 40

Finextra

DECEMBER 14, 2023

The European Central Bank is inviting expressions of interest from financial market stakeholders in participating in trials of new technologies for wholesale central bank money settlement.

Central Bank 85

Central Bank Settlement Participant Technology 85

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. Moreover, tokenised securities offer the potential for shorter settlement periods. Institutional investors focus on digital assets.

Settlement 138

Settlement Cryptocurrency Blockchain Digital Currency 138

The Fintech Times

SEPTEMBER 25, 2024

The HKMA completed Phase 1 of the e-HKD Pilot Programme in October 2023 and had studied domestic retail use cases in various areas such as programmable payments, settlement of tokenised assets, and offline payments. We look forward to working closely with industry participants in Phase 2 to co-create various innovative use cases.”

Authorization 59

Authorization Digital Currency Use Case Settlement 59

Fintech News

DECEMBER 11, 2023

The first being the indirect model, where commercial banks manage CBDC wallets and settlements directly on the UDPN, while the central bank handles wholesale settlement between commercial banks and keeps all transaction records. The indirect model featured an on-chain DLT-based solution developed by UDPN engineers.

CBDC 109

CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 109

Tearsheet

FEBRUARY 16, 2024

FedNow attracted 331 participants, while RTP had 460 participants as of December 2023. Market Development at Mastercard, to discuss the extended partnership’s new areas of focus, strategies the RTP network is employing to appeal to a broader range of participants, and the competition with FedNow.

Instant Payments 119

Instant Payments RTP Visa TCH 119

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. March 2023 marked the start of the migration with a coexistence period with MT messages.

ISO 20022 122

ISO 20022 APACS SWIFT ISOs 122

Fintech News

JUNE 12, 2024

The Bank for International Settlements (BIS) Innovation Hub ‘s Point Zero Forum 2023 roundtable brought together key stakeholders and leaders from both the public and private sectors to discuss opportunities and challenges in cross-border payments.

Cross-Border Payments 116

Cross-Border Payments Cross-Border Interoperability Payments 116

Fintech Finance

APRIL 10, 2024

The CHIPS® network, the largest private-sector high-value clearing and settlement system in the world, which is operated by The Clearing House , successfully migrated to the ISO 20022 message format on the April 8 banking day. The Clearing House’s successful migration is a significant step towards the U.S.

ISO 20022 52

ISO 20022 ISOs CHIPS Settlement 52

Fintech News

APRIL 23, 2024

In addition to joining the network, Standard Chartered will also serve as a settlement partner for Visa, supporting essential payment functions including settlements and foreign exchange operations.

B2B 106

B2B Cross-Border Payments Cross-Border Payment APIs and Integration 106

Finextra

FEBRUARY 27, 2024

Swedish market participants are settling instant payments in Swedish kronor in the Eurosystem TARGET Instant Payment Settlement (TIPS), after a successful migration over the past weeks.

Instant Payments 52

Instant Payments Settlement Participant Payments 52

The Fintech Times

JULY 8, 2024

T+1 settlement: A smooth transition with a few wrinkles Rich Robinson, chair, ISITC After years of planning and anticipation, the financial industry in the United States flipped the switch on the T+1 settlement cycle at the end of last month. First and foremost, the good news.

Settlement 59

Settlement Participant Volume Mitigation 59

Fintech Finance

AUGUST 14, 2024

DBS Treasury Tokens enables Ant International to reduce the settlement of intra-group transactions from potentially days to seconds. Since 2016, the bank has piloted transactions involving Purpose Bound Money, institutional-grade financial protocols, as well as atomic settlement use cases with tokenised bank deposits and tokenised securities.

Liquidity Management 98

Liquidity Management Treasury Multi-Currency Cross-Border Payments 98

Fintech Finance

AUGUST 22, 2024

The collaboration harnesses Australia’s New Payments Platform (NPP2) International Payments Service (IPS), enabling the last mile of BNY’s cross-border payments to Australia to be processed by CBA via the NPP, offering cost transparency, robust security and faster settlement.

Cross-Border Payments 98

Cross-Border Payments Near Real-Time Cross-Border Settlement 98

The Fintech Times

AUGUST 14, 2024

Eight years ago, Australia’s largest market operator unveiled plans to overhaul its aging trade settlement system with a blockchain-powered platform. “Companies and market participants rely on what the ASX says about its operations to make their own decisions and investments.

Blockchain 64

Blockchain Participant Settlement Disputes 64

Fintech News

APRIL 28, 2024

The Bank for International Settlements (BIS) and the Central Bank of Brazil (BCB) have announced the launch of the fifth G20 TechSprint 2024 initiative. Participants from around the world can enter the competition through the Apix hackathon platform , which supports registration and prototype development.

Finance 112

Finance Central Bank Cross-Border Payments Cross-Border 112

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 106

CBDC SWIFT Interoperability Settlement 106

Fintech News

AUGUST 12, 2024

The solution reduces the settlement time for intra-group transactions from days to seconds, optimising liquidity and working capital while offering corporate treasurers improved control and predictability over cash positions.

Treasury 95

Treasury Blockchain Cross-Border Payments Multi-Currency 95

The Fintech Times

MARCH 7, 2024

FIs and PSPs are able to access local payment schemes without the development and administrative costs linked to direct participation with the clearing houses (ACH) or integration with multiple banks. Utilising our local clearing and settlement connections, we are providing our clients with indirect access to SEPA SCT, SEPA Instant and FPS.

IBAN 59

IBAN Central Bank Settlement ACH 59

PYMNTS

AUGUST 26, 2016

The concept is known as Utility Settlement Coin , and UBS is slated to begin testing the tool, along with BNY Mellon, Deutsche Bank, ICAP and Santander, reports said this week. The Utility Settlement Coin is focused on facilitating a new model for digital central bank cash.”

Settlement 40

Settlement Blockchain Central Bank Correspondent 40

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. Supported by EY and Linklaters , the technological backbone of this endeavour comprises R3, Quant, DXC Technology (DXC) and Coadjute.

Payment APIs and Integration 137

Payment APIs and Integration Blockchain Finance Digital Payments 137

The Fintech Times

JANUARY 9, 2024

Trading members benefit from reduced counterparty and settlement risk and can enjoy capital efficiencies. This is made possible by the venue’s risk management process, flexibility, and capabilities to support frequent intra-day margining and settlement runs. How are other market participants reacting to the launch of AsiaNext?

Risk Management 106

Risk Management Settlement APACS Risk 106

Fintech News

MAY 30, 2024

Their joint efforts include participation in the Monetary Authority of Singapore’s (MAS) Project Guardian , the Fundnode settlement infrastructure, and various digital bond initiatives. Since 2020, HSBC and Marketnode have collaborated on developing digital market infrastructure across credit, funds, and structured products.

Settlement 106

Settlement Participant Authorization Innovation 106

Fintech Finance

MAY 14, 2024

Accessible through Banking Circle’s SWIFT membership as a plug and play solution means the development and administrative costs and timelines usually linked to direct participation with the clearing houses (ACH) or cumbersome sponsor bank integration can be eliminated.

IBAN 52

IBAN Payment APIs and Integration Instant Payments SWIFT 52

Fintech Finance

MARCH 26, 2024

Participants also highlighted the solution’s potential to reduce delays in global trade, enhance trust among parties, and significantly lower transaction costs. Working closely with CLS, the connector was shown to be interoperable with the existing market infrastructure, facilitating FX netting and settlement via CBDCs.

Cross-Border 52

Cross-Border Use Case SWIFT CBDC 52

PYMNTS

JUNE 9, 2020

A Texas operator of several payment processing centers has agreed to be permanently banned from the industry in order to settle charges by the Federal Trade Commission (FTC) and the state of Ohio that they unlawfully participated in scams, according to a press release.

FTC 52

FTC Scams Processors Federal Trade Commission 52

The Fintech Times

SEPTEMBER 10, 2024

It will offer the full lifecycle of financial assets, including origination, issuance, trading, settlement and custody. Three Finstreet subsidiaries will be the first regulated, global market infrastructure to offer an end-to-end hybrid traditional and blockchain-powered ecosystem to investors and issuers.

Issuers 64

Issuers Blockchain Participant Regulations 64