Fintech News

NOVEMBER 5, 2024

This achievement builds on a recent successful test settlement of a Hong Kong dollar (HKD)-denominated transaction between the two companies. Featured image credit: Edited from Freepik The post Standard Chartered, Ant Complete First Blockchain-Based SGD Settlement appeared first on Fintech Singapore.

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Settlement Blockchain Liquidity Management Treasury Management 97

Finextra

NOVEMBER 21, 2024

Mastercard has connected its Multi-Token Network (MTN) to JPMorgan's Kinexys Digital Payments rail for B2B cross-border payments settlement.

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Settlement Cross-Border Payments Visa Digital Payments 81

Finextra

OCTOBER 24, 2024

The European Central bank is implementing a cross-currency settlement service on the Eurosystem's Target Instant Payment Settlement (Tips) service.

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Instant Payments Settlement Central Bank Payments 119

Payments Dive

DECEMBER 21, 2023

Google’s settlement with attorneys general this week includes a lengthy list of changes the tech titan must make in its approach to in-app payments.

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Settlement Payments 179

Payments Dive

MAY 6, 2024

Requests for a slice of the Visa-Mastercard settlement are due by a May 31 deadline. Lawyers are racing to alert eligible businesses.

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Settlement Visa Payments 167

Finextra

OCTOBER 16, 2024

The Prague Stock Exchange is implementing distributed ledger technology in the settlement of securities under the EU's DLT pilot regime.

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Settlement Security Technology 92

Finextra

OCTOBER 30, 2024

Standard Chartered has used Ant Internal's Whale blockchain platform to deliver settlement of HKD-denominated intra-group transactions between various ANT entitites.

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Fintech News

NOVEMBER 4, 2024

The pilot showcased how financial institutions can use Swift’s infrastructure to facilitate off-chain cash settlements for tokenised funds with fiat payment systems across more than 11,500 financial institutions in over 200 countries. ” said Sergey Nazarov, Co-Founder of Chainlink.

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SWIFT Settlement Blockchain Facilitators 91

EBizCharge

NOVEMBER 7, 2024

Financial clarity is especially important since banks engage in countless daily transactions that require clearing and settlement processes to ensure payments are accurately transferred between parties, reducing risks and maintaining economic stability. What is settlement? What is settlement? What is clearing?

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Settlement ACH Central Bank Mitigation 52

Finextra

MAY 8, 2024

A host of major US financial services firms - including Citi, JP Morgan, and Visa - are taking part in a Regulated Settlement Network (RSN) proof-of-concept that will explore multi-asset settlement using shared ledger technology.

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Settlement Regulations Technology 126

Finextra

MAY 14, 2024

The Eurosystem has begun the first of a series of trials to test the use of ditributed ledger technology (DLT) for the settlement of wholesale transactions in central bank money.

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Central Bank Settlement Transactions Technology 144

Fintech News

NOVEMBER 5, 2024

OCBC Bank and Ant International have announced a strategic partnership aimed at streamlining cross-border fund settlements using tokenised deposits and leveraging advanced encryption and AI. The collaboration will prioritise enabling real-time payments between Singapore and Malaysia, 24/7, via Ant International’s Whale platform.

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Settlement Blockchain Cross-Border Treasury 90

Finextra

JUNE 4, 2024

The Bank for International Settlements (BIS) is launching Project Rialto to explore how instant cross-border payments could be improved using a modular foreign exchange component combined with settlement in wholesale central bank digital currencies (wCBDC).

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Central Bank Settlement Cross-Border Payments Cross-Border 98

Fintech News

NOVEMBER 3, 2024

Access to a common settlement facility is also being facilitated through the SGD Testnet, featuring S$ wholesale central bank digital currency (CBDC) for market testing. Participating financial institutions like DBS, OCBC, Standard Chartered, and UOB will trial these settlements.

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CBDC Settlement Digital Currency Cross-Border 92

Payments Dive

APRIL 29, 2024

The National Retail Federation lashed out at a landmark Visa-Mastercard legal settlement Friday, calling the pact reached with some merchants last month “meager and temporary” relief.

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Settlement Visa Legal 88

Finextra

OCTOBER 1, 2024

Boerse Stuttgart says it has tested the settlement of exchange transactions with blockchain-based securities against central bank money - finding that using the technology can reduce settlement times from days to minutes.

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Settlement Blockchain Central Bank Transactions 64

Finextra

MAY 14, 2024

JP Morgan has struck a deal to offer its JPM Coin digital token as a settlement mechanism for Broadridge's DLR (Distributed Ledger Repo) platform.

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Settlement 138

Fintech Finance

OCTOBER 21, 2024

The Central Bank of Kenya (CBK) announces that the Kenya Electronic Payment and Settlement System (KEPSS) has been successfully migrated to the ISO20022 Global Messaging Standard (“ISO20022 Standard”). KEPSS, which is Kenya’s Real-Time Gross Settlement (RTGS) system, is operated by CBK to process large-value and time-critical payments.

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Message Standards Real Time Gross Settlement (RTGS) Settlement Cross-Border 86

Payments Dive

JULY 24, 2024

The card network giant expects the parties to negotiate a new settlement following a judge’s rejection of an agreement reached earlier this year, but its CEO notes that could happen after a trial begins.

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Finextra

MARCH 26, 2024

After nearly 20 years of litigation, Visa and Mastercard have reached a settlement with US merchants lowering and capping credit card interchange rates in a deal that could save the merchants $30 billion over five years.

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Settlement Visa Caps Credit Cards 128

The Paypers

OCTOBER 17, 2024

The Bank for International Settlements (BIS) has initiated Project Aperta aiming to explore reducing frictions and costs in global finance by enabling cross-border data portability.

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Settlement Cross-Border Finance 68

Finextra

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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Settlement Cross-Border Payments Cross-Border International Payments 52

Finextra

OCTOBER 23, 2024

Eurex Clearing has successfully tested the settlement of cash over a distributed ledger operated by the Banque de France.

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Settlement 72

Finextra

JUNE 16, 2024

billion settlement with the SEC after a jury verdict held them liable for orchestrating a years-long fraud involving crypto asset securities that led to massive investor losses when the scheme unravelled. Terraform Labs and its former CEO Do Kwon have reached a $4.5

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Settlement Security 75

Finextra

JUNE 25, 2024

A US judge has rejected a $30 billion settlement between Visa, Mastercard and retailers over credit card interchange fees.

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The Fintech Times

SEPTEMBER 9, 2024

The American Fintech Council (AFC) has backed the Federal Reserve ’s proposal to extend the operating hours of the Fedwire Funds Service and National Settlement Service (NSS). The post US Fintech Association Supports Federal Reserve’s Plan to Expand Settlement Service Hours appeared first on The Fintech Times.

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Finextra

AUGUST 16, 2024

Deutsche Bank’s settlement offer to shareholders that sued them for underpaying for the Postbank acquisition has been rejected by plaintiffs.

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Fintech News

APRIL 1, 2024

billion settlement with US authorities earlier this year. This leadership restructure is in line with Binance’s efforts to comply with regulatory standards following its legal settlement in the US. Completing the lineup are Arnaud Ventura, of Gojo & Co., and Xin Wang, CEO of Bayview Acquisition Corp.

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Fintech Finance

MARCH 14, 2024

Klarna , the AI-powered payments network and shopping assistant, has begun to roll out open banking-powered settlements in the UK. Klarna has already launched open banking settlements for its Pay Now instant payment option, and Pay in 30 and Pay in 3 scheduled for later in 2024.

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Settlement Consumer Payment Networks Instant Payments 75

Finextra

JULY 1, 2024

A US district court judge has rejected an agreed $30 billion settlement over swipe fees between the two major card schemes and US merchants partially on the grounds that Visa and Mastercard have the financial armoury to pay "substantially" more.

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Settlement Visa 64

Finextra

SEPTEMBER 19, 2024

(Nasdaq: SSNC) today announced a definitive agreement to acquire Battea-Class Action Services, LLC, a market-leading provider of securities class action claims management and settlement recovery services.

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Settlement Acquirers Processors Agreements 52

Finextra

SEPTEMBER 9, 2024

The European Central Bank (ECB) welcomes the decision by Seðlabanki Íslands (Central Bank of Iceland) to begin a feasibility assessment to explore the possibility of joining the Eurosystem’s T2 real-time gross settlement system and its TARGET Instant Payment Settlement (TIPS) retail payment system.

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Central Bank Settlement Instant Payments Assessments 59

The Paypers

SEPTEMBER 12, 2024

UK-based payments platform Volt has launched VX2, a stablecoin settlement solution that integrates with Volt’s real-time payments infrastructure.

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Stablecoins Settlement Real Time Payments Payments 48

Finextra

MAY 22, 2024

Adopting distributed ledger technology in the pursuit of faster settlement times could hit liquidity and increase transaction costs, warns research from the World Federation of Exchanges (WFE).

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Payments Dive

JUNE 14, 2024

The judge's likely rejection would scuttle a $29.79 billion deal that was two decades in the making.

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Payments Dive

MARCH 26, 2024

The two biggest U.S. card networks agreed to cap interchange fees for five years, among other terms, to settle merchant litigation that has lasted nearly two decades.

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Credit Cards Settlement Caps Visa 179

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.

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Central Bank Settlement Distributed Ledger Technology (DLT) Interoperability 75