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.

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EBizCharge

DECEMBER 3, 2024

Since managing credit card transactions can be complex, understanding how their settlements work is essential to maintaining financial health as consumer spending rises. Credit card settlements involve various processes and parties that ensure transactions are accurately recorded and funds are transferred.

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Fintech Finance

APRIL 24, 2024

We will join as a participant bank and as Visa’s new settlement partner for a set of currencies. Our engagement in the Visa B2B Connect network – both as a participant and as a settlement bank – is yet another way we are delivering value add to the broader ecosystem as we support corporates on their payments journey.”

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PYMNTS

FEBRUARY 6, 2020

In a recent conversation with PYMNTS, Transparent Systems Co-Founder and Chief Technology Officer Jeff Kramer remained mum on the particular details of the company’s infrastructure, although the firm described itself as an “on-demand 24/7 settlement” solution that leverages “cryptographically-secured” distributed blockchain networks.

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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.

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Finextra

SEPTEMBER 16, 2024

More than 40 private sector financial firms, convened by the Institute of International Finance, will join the Bank for International Settlements and a group of leading central banks in Project Agorá to explore how tokenisation can enhance wholesale cross-border payments.

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Participant Cross-Border Payments Cross-Border Central Bank 59

Fintech News

NOVEMBER 5, 2024

The project is a collaboration between the Bank for International Settlements (BIS) Innovation Hub and central banks from India, Malaysia, the Philippines, Singapore, and Thailand. The regulator will explore potential connections between its TARGET Instant Payment Settlement system and other fast payment networks.

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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.

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Instant Payments RTP Visa TCH 119

Finextra

APRIL 22, 2024

The implementation of a T+1 settlement cycle in the U.S. is a little over one month away, and market participants continue to prepare for the May 28, 2024, deadline.

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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.

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Fintech Finance

NOVEMBER 6, 2024

The collaboration will see Mastercard join Buna’s cross-border payment systems as a direct participant. Buna’s Real-Time Gross Settlement service, with its extended operating hours, and Instant Payments System’s 24/7 availability offer a unique advantage for direct participants.

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The Fintech Times

JUNE 6, 2024

Project mBridge , a collaborative initiative involving multiple central banks and the Bank for International Settlements’ (BIS), h as reached an important development milestone. The platform now invites further international participation and private sector proposals for value-added solutions.

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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.

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Cross-Border Correspondent Bank Multi-Currency Settlement 92

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.

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

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.

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Blockchain Participant Central Bank Settlement 59

Finextra

SEPTEMBER 16, 2024

More than 40 private sector financial firms, convened by the Institute of International Finance, will join the Bank for International Settlements and a group of leading central banks in Project Agorá to explore how tokenisation can enhance wholesale cross-border payments.

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Participant Cross-Border Payments Cross-Border Central Bank 52

Fintech Finance

AUGUST 21, 2024

The Bank of Israel has announced the issuance of an identification code to a second global fintech company that has chosen to operate in Israel as a participant in a controlled payment system – Revolut Ltd. These steps will advance competition in the financial system, and will contribute to improvement of service and lowering of costs.

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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.”

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Authorization CBDC Multi-Currency Settlement 83

Fintech Finance

OCTOBER 23, 2024

As part of the partnership, Emirates NBD will join the Partior network, becoming the first regional and UAE Dirham, Saudi Riyal and Indian Rupee settlement bank on the platform. Launched in 2021, Partior is backed by DBS Bank, J.P. Morgan, Standard Chartered, Temasek, and Peak XV.

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Cross-Border Cross-Border Payments Settlement Real Time Payments 94

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.

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Cross-Border Payments Cross-Border Central Bank Settlement 78

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.

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Central Bank Settlement Participant Technology 85

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.

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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.

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Payment APIs and Integration Blockchain Finance Digital Payments 137

Fintech News

OCTOBER 23, 2024

Indonesia will continue its participation as a special observer. As part of its efforts to link its TARGET Instant Payment Settlement (TIPS) with other fast payment systems, the Eurosystem, the monetary authority of the eurozone, has expressed its intention to join Project Nexus.

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Central Bank ISO 20022 Cross-Border Payments Cross-Border 102

The Paypers

SEPTEMBER 20, 2024

AMINA Bank has announced its participation in Project Agorá, an initiative led by the Bank for International Settlements (BIS) in collaboration with several central banks.

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Participant Central Bank Settlement 36

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 70

Fintech News

NOVEMBER 3, 2024

The Bank for International Settlements ( BIS ) Innovation Hub announced that it has “graduated out” of Project mBridge. Project mBridge is a major cross-border payments initiative designed to leverage wholesale central bank digital currencies (CBDCs).

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Cross-Border Cross-Border Payments Central Bank Settlement 102

Fintech Finance

JULY 1, 2024

The Bank for International Settlements (BIS) and partners today announced that they have completed the comprehensive blueprint for phase three of Project Nexus, which will allow ready participants to work towards the next stage of seamlessly connecting their instant payment systems.

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Instant Payments Cross-Border Payments ISO 20022 Cross-Border 98

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.

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CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 88

Fintech News

OCTOBER 29, 2024

By utilising USDC, Thunes aims to reduce capital costs and improve liquidity for its network participants. Settlements made with stablecoins provide exactly these four things. Jeremy Allaire “Partnering with Thunes is an exciting expansion for USDC as a reliable and efficient cross-border payments settlement solution.

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Cross-Border Payments Cross-Border Stablecoins Facilitators 81

Fintech Finance

OCTOBER 15, 2024

RTGS.global , the next generation settlement company revolutionising cross-border payments, has today announced the launch of a unique solution for Payment Service Providers (PSPs) that will enable them to offer cheaper and faster international payments to their retail and corporate customers.

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Cross-Border Liquidity Management Cross-Border Payments Correspondent Bank 98

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.

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B2B Cross-Border Payments Cross-Border Payment APIs and Integration 88

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.

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Cross-Border Payments Cross-Border Interoperability Payments 89

Fintech News

OCTOBER 23, 2024

Australia’s digital money work plan will kickstart with the public launch of Project Acacia, an initiative focusing on assessing the feasibility of new forms of digital money and settlement infrastructure to improve the efficiency, transparency and resilience of wholesale markets.

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PYMNTS

JANUARY 8, 2021

Bloomberg notes that such an offering would be unusual, as retail investors generally do not get an opportunity to participate in an IPO at the offering price. The IPO would come on the heels of an SEC settlement by the company over claims that it misled users of its platform. The FinTech was valued at around $11.7

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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.

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

Fintech Finance

SEPTEMBER 17, 2024

This is a new type of financial market infrastructure that can deliver new capabilities for payments and settlement, including tokenisation and programmability. It could provide new and innovative firms with a common point of access to enable them to interface with established institutions, and enhanced payment and settlement systems.

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