The Fintech Times

MAY 18, 2024

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. Initially, 16 private companies will conduct trials involving actual settlement in central bank money.

Central Bank 73

Central Bank Settlement Distributed Ledger Technology (DLT) Interoperability 73

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) 88

Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Settlement Interoperability 88

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 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.

ISO 20022 107

ISO 20022 Central Bank Cross-Border Payments Settlement 107

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.

Blockchain 59

Blockchain Participant 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 57

Cross-Border Settlement Cross-Border Settlement Cross-Border Payments 57

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.

Cross-Border Payments 90

Cross-Border Payments Visa Cross-Border Multi-Currency 90

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 82

Authorization CBDC Multi-Currency Settlement 82

The Fintech Times

NOVEMBER 18, 2024

To address these issues, Mastercard has joined Buna, the cross-border payment system operated by the Arab Regional Payments Clearing and Settlement Organisation (ARPCSO), owned by the Arab Monetary Fund (AMF). How does this partnership help Mastercard scheme participants work within the heavily fragmented MENA region?

Cross-Border Payments 67

Cross-Border Payments Cross-Border Visa Participant 67

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.”

Cross-Border Payments 92

Cross-Border Payments Cross-Border Settlement B2B 92

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 133

Interbank Settlement CBDC Settlement Use Case 133

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.

Cross-Border Payments 97

Cross-Border Payments Cross-Border Stablecoins Facilitators 97

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 118

Cross-Border Payments Cross-Border Central Bank Federal Reserve 118

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.

Central Bank 122

Central Bank ISO 20022 Cross-Border Payments Cross-Border 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 103

Cross-Border Correspondent Bank Multi-Currency Settlement 103

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 138

Cross-Border Payments Cross-Border Federal Reserve Central Bank 138

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.

Cross-Border 79

Cross-Border Cross-Border Payments Settlement Real Time Payments 79

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 87

Cross-Border Payments Cross-Border CBDC Settlement 87

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

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.

Settlement 67

Settlement B2B Same Day ACH ACH 67

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.

Central Bank 117

Central Bank CBDC Settlement Treasury 117

Finextra

OCTOBER 23, 2024

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa, and Türkiye) region, has entered into a strategic agreement with Partior to explore participation in their blockchain-based platform for clearing and settlement, a collaboration that will offer Emirates NBD’s clients 24×7 availability, and faster, more seamless payment flows. (..)

Cross-Border Payments 52

Cross-Border Payments Cross-Border Payment Networks Settlement 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.

Service Provider 96

Service Provider Participant Payments Settlement 96

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).

Cross-Border Payments 119

Cross-Border Payments Cross-Border Central Bank Settlement 119

The Fintech Times

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.

Cross-Border Payments 57

Cross-Border Payments Cross-Border Visa Multi-Currency 57

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 137

Settlement Cryptocurrency Blockchain Digital Currency 137

The Fintech Times

NOVEMBER 8, 2024

Cross-border payments often lead to delayed settlements, creating a fragmented view of liquidity positions for companies. 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.

Cross-Border 57

Cross-Border Cross-Border Payments Payment Solutions Blockchain 57

Fintech News

OCTOBER 6, 2024

Banks in North America, Europe, and Asia will participate, using Swift ’s platform to conduct transactions involving both digital assets and traditional currencies. Additionally, Swift is exploring integration with emerging bank-led networks such as the US Regulated Settlement Network.

SWIFT 91

SWIFT Transactions Settlement Use Case 91

The Fintech Times

APRIL 26, 2024

The Bank will also act as one of Visa’s settlement partners within the network. In this capacity, it will facilitate payment flows, including settlement accounts, funds movement and FX capabilities for Visa. We will join as a participant bank and as Visa’s new settlement partner for a set of currencies.”

Cross-Border Payments 57

Cross-Border Payments Cross-Border B2B Settlement 57

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 107

CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 107

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

NOVEMBER 5, 2024

Payments will be settled instantly in Singapore dollars via a regulated stablecoin, providing merchants with immediate local currency settlements. Participating GrabPay merchants include popular names like CHAGEE, BreadTalk, Toast Box, and iStudio, offering tourists familiar and convenient payment options.

Stablecoins 88

Stablecoins Cross-Border Payments Cross-Border Blockchain 88

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.

Cross-Border 94

Cross-Border Liquidity Management Cross-Border Payments Correspondent Bank 94

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 57

Authorization Digital Currency Use Case Settlement 57

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