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

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. New functionality, such as programmable payments and locking/unlocking of funds, was demonstrated across a range of use cases.

Regulations 85

Regulations Finance Settlement Legal 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

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

The Fintech Times

NOVEMBER 23, 2024

The Central Bank of Brazil is aiming to demonstrate the automated settlement of agricultural commodity transactions across borders, across platforms, and via different currencies. ” Solving ‘real, everyday business problems’ Microsoft, an active early participant in DREX, is providing cloud services for the project.

CBDC 77

CBDC Central Bank Cross-Border Finance 77

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 90

Treasury Blockchain Cross-Border Payments Multi-Currency 90

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

OCTOBER 11, 2024

The VTAP solution is available on the Visa Developer Platform for participating financial institution partners, to create and experiment with their own fiat-backed tokens in a VTAP sandbox. This is available in a test environment with plans to support live programmes in 2025 and when participating banks are ready to launch with end customers.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Near Real-Time Participant 52

Fintech Finance

OCTOBER 30, 2024

As part of Fnality’s vision to develop a regulated FMI that addresses a variety of pain points across the financial market, these successfully settled margin transfers are a first step in exploring the potential use of £FnPS for cleared margin payments in the future, subject to further regulatory analysis.

Distributed Ledger Technology (DLT) 76

Distributed Ledger Technology (DLT) Liquidity Management Central Bank Payments 76

Finovate

JULY 26, 2024

Again, one of the main areas of emphasis is cybersecurity, which MAS identified as a use case for the first pilot project. Valor Capital Group and Jump Trading Group also participated as new investors along with existing shareholders J.P. With regard to AI, MAS is also supporting the development of AI innovation centers.

AI 71

AI Cross-Border Payment APIs and Integration Multi-Currency 71

Faster Payments Council

AUGUST 23, 2024

The moderator will drive the conversation, but audience participation will be encouraged! Financial Institutions are enabling use cases and improving send reach that allows customers to manage their cash on hand and easily disburse payments up to the due date while maintaining a positive account status and avoiding late fees.

FPC 167

FPC ISO 20022 Federal Reserve Instant Payments 167

Fintech Finance

AUGUST 20, 2024

The council aims to facilitate merchant payments, international remittances, and other use cases in cross-border transactions interconnecting their diverse platforms, advancing global wallet interoperability. TerraPay enables this initiative, providing both the technology infrastructure and handling clearing and settlement processes.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Interoperability Payments 52

Faster Payments Council

FEBRUARY 6, 2022

This month, the FPC released the results of the third installment of the Faster Payments Barometer, the annual survey that gauges progress and perceptions around faster payments, use cases, trends, and challenges. And other industry participants and FPC Members are working towards real-time cross-border payments as well.

Faster Payments 68

Faster Payments Cross-Border Payments Cross-Border FPC 68

Fintech News

MAY 8, 2024

Thailand’s CBDC journey The BOT’s journey towards a CBDC began in 2018 with Project Inthanon, which focused on creating a decentralised Real-Time Gross Settlement (RTGS) prototype using wholesale CBDC. The Innovation Track consisted of public engagements and exploring CBDC for financial innovation.

CBDC 120

CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank 120

The Fintech Times

OCTOBER 29, 2024

B2C2 , a company specialising in institutional liquidity for digital assets, is adding OpenPayd ’s embedded finance capabilities to its global instant settlement network. This latest round includes participation from two of the world’s largest credit funds, alongside lead arranger Deutsche Bank.

FinTech 63

FinTech Embedded Finance Multi-Currency Non-Bank 63

Fintech News

DECEMBER 20, 2023

Efforts were also made to advance digital assets, tokenization and central bank digital currency (CBDC) experimentation with initiatives such as Project Guardian and Project Orchid expanding to include more use cases and moving towards “live” pilots.

FinTech 104

FinTech Cross-Border CBDC Web 3.0 104

The Fintech Times

MARCH 20, 2024

in key cities and use cases. The PBOC will work with relevant parties, further develop payment use cases, and coordinate efforts to address any shortcomings and weaknesses. It will direct CNY 3 billion to focus on acceptance terminal upgrades, signage placement and publicity, etc.

Use Case 58

Use Case Online and Mobile Banking Governance Government 58

PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Among the potential and evolving use cases: private stablecoins can conceivably be adopted as a means of payment for online purchases, peer-to-peer and micro-payments and a range of potential future.

Stablecoins 92

Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92

Fintech News

JUNE 19, 2024

This means that unlike a lot of digital assets, whose practical applications might not be known for some time (if ever), stablecoins have begun to show demonstrable real-world use cases. StraitsX’s journey into stablecoins began with the recognition of the potential benefits of blockchain technology in cross-border payments.

Stablecoins 108

Stablecoins Cross-Border Cross-Border Payments Blockchain 108

Fintech Finance

AUGUST 12, 2024

“Latin America has established itself as a frontrunner in numerous cross-border use cases, particularly in global marketplaces where its e-commerce economy thrives in supplier corridors with Asia and Europe,” said Prajit Nanu, Founder and CEO of Nium. Nium has been present in the region dating back to 2017.

Real Time Payments 85

Real Time Payments Cross-Border Payments Cross-Border Central Bank 85

PYMNTS

AUGUST 10, 2020

Waiting for the Fed — and its promise of interoperability, which requires participation from the private sector — is akin to playing the (very) long game. Expanding The Use Cases. Waterhouse said that getting banks to sign on is about showing them the relevant use cases that will drive revenue and even new customer acquisition.

Real Time Payments 138

Real Time Payments RTP TCH Federal Reserve 138

PYMNTS

FEBRUARY 7, 2020

Eight Roads led the round, while Telefónica Innovation Ventures, Telekom Innovation Pool of Deutsche Telekom, HKT and Singtel Innov8 also participated, according to TechCrunch reports. The company will deploy the funding to focus on product development, engineering and global expansion.

B2B 98

B2B Blockchain Cross-Border FinTech 98

PYMNTS

OCTOBER 12, 2020

As reported in August, the Fed had announced some additional details of the 24/7 year-round interbank settlement service through a program that began to take shape in 2019, geared toward speeding processing times tied to instant payments (and featuring a clearing function). Looking Toward Interoperability And Scale . The Timeframe .

Instant Payments 97

Instant Payments FedNow Fed Interoperability 97

Faster Payments Council

SEPTEMBER 23, 2023

Few use cases have the potential for growing volumes as do commerce payments yet paying a merchant with a credit push transfer isn't easy. Thise session envisions the art of the possible for commerce use cases in the U.S. (Foundry Ballroom) Payment networks need volume to scale and keep costs low.

FPC 88

FPC Federal Reserve RFP Faster Payments 88

PYMNTS

NOVEMBER 8, 2017

“But they also can be used in the healthcare industry and often in supply chain settings as well, so there [are] lots of interesting stories and use cases there.”. For financial services firms, the benefits of using blockchain and distributed ledger technologies were fairly apparent, Behlendorf said.

Blockchain 86

Blockchain API Use Case B2B 86

PYMNTS

MARCH 15, 2019

The appointment signals the Commerce Department’s interest in exploring distributed ledger technology to facilitate trade finance , an increasingly common use case for blockchain solutions. The digital currency is currently used by the R3 Corda platform in its settlement process to facilitate movement of money across borders.

Finance 76

Finance Visa Blockchain Interoperability 76

Payment Savvy

MAY 16, 2023

They ensure that all participants of this network follow certain guidelines to maintain its safety, security, and efficiency. The RTP Network enables real-time transactions for various use cases, such as B2B and P2P transactions, payroll, and Request for Pay (RfP) services.

ACH 94

ACH Same Day ACH Direct Deposit Consumer Financial Protection Bureau (CFPB) 94

Global Fintech & Digital Assets

NOVEMBER 7, 2023

The circulars indeed reflect this gradual, incremental approach rather than a big-bang moment of regulatory change, and we expect market participants to welcome the SFC’s new guidance as some of them consider exploring tokenised products and services.

Distributed Ledger Technology (DLT) 52

Distributed Ledger Technology (DLT) Security Settlement Risk 52

PYMNTS

SEPTEMBER 16, 2016

Ripple , the provider of financial settlement services, announced on Thursday (Sept. Ripple said the funds will be used to accelerate customer growth, pursue strategic partnerships and grow the company’s team internationally. 15) it completed a $55 million Series B round of financing.

Cross-Border Payments 74

Cross-Border Payments Cross-Border Settlement Use Case 74

PYMNTS

JUNE 4, 2019

The network is the first to deliver 24/7 clearing and interbank settlement, including the real-time movement of money and enriched data between participating financial institutions,” PayFi said. The RTP network offers a suite of available use cases and extensive level of data accompanying each RTP transaction.”.

Real Time Payments 48

Real Time Payments ISO 20022 RTP Interbank Settlement 48

Faster Payments Council

MARCH 30, 2022

Financial institutions require 24/7 connectivity, real-time settlement and liquidity management, customer interfaces, and fraud mitigation tools to prepare their underlying systems for instant payments. Faster Payments Council), regarding their current and expected payments hub status and their wider payments modernization journey.

FPC 88

FPC Faster Payments Cross-Border Financial Inclusion 88

PYMNTS

OCTOBER 1, 2018

There are a lot of players participating in the gold supply chain,” Davis told PYMNTS, taking note of the miners, refiners, transportation conduits and buyers out there, where currencies and the metal itself cross borders. New Use Cases. How It Works.

Blockchain 73

Blockchain Distributed Ledger Technology (DLT) Cross-Border Wire Transfer 73

PYMNTS

JANUARY 17, 2017

“Larger companies use documentary credit as a way of reducing the risks involved in doing business,” the banks said in their release, “but documentary credit is not always suitable for SMEs or for companies that prefer open account processes.”. Their joint venture will build out the solution and commercialize it for real-world use.

Blockchain 47

Blockchain Online and Mobile Banking Settlement Finance 47

PYMNTS

AUGUST 1, 2018

As the financial publication reported, “the expectation was we’d quickly find use cases,” explained Magnus Haglind, Nasdaq ’s senior vice president and head of Product Management for Market Technology. But introducing new technologies requires broad collaboration with industry participants, and it all takes time.”.

Blockchain 40

Blockchain Blocks Distributed Ledger Technology (DLT) Use Case 40

PYMNTS

JANUARY 2, 2019

The confluence of infrastructure enabling always-on transactions and the willingness of various participants in commerce to move away from paper (bills and checks) and coins hardly seems a coincidence. Use cases that are gaining ground in Australia, Houseman said, include property settlement — purchases of houses, for example.

Real Time Payments 79

Real Time Payments RTP ISO 20022 Cross-Border 79

PYMNTS

AUGUST 6, 2019

Winklevoss Capital, Galaxy Digital, ConsenSys Ventures, Akuna Capital, Avon Ventures, Susquehanna, CMT Digital, Morgan Creek and PJC also participated in the round. The new funding will be used to add products to BlockFi’s existing platform, which includes interest-earning accounts for bitcoin and crypto-backed loans.

Bitcoin 40

Bitcoin Blockchain Audit Cryptocurrency 40

PYMNTS

MARCH 1, 2019

Payments that don’t go through are then sent back to payees, who could face fees from banks along the payment chain as well as serious settlement delays. Most of the FIs participating in the pilot are large banks with either global or regional focuses. Prepping for the pilot.

Cross-Border Payments 43

Cross-Border Payments Cross-Border Payment APIs and Integration SWIFT 43