Authorization, CBDC and Cross-Border Payments

CBDCs in practice: What we’ve learned from the early movers

The Payments Association

JUNE 3, 2025

James Hurren explores what early CBDC deployments across Asia, the Caribbean, and Europe reveal about usage, adoption, and the future of cross-border digital money. Central bank digital currencies (CBDCs) have rapidly evolved from theoretical concepts into live pilots and national deployments.

CBDC

CBDC Cross-Border Central Bank Cross-Border Payments

The Journey of Payments and Clearing Systems in India

Finextra

JUNE 11, 2025

This laid the foundation for a centralized monetary authority and future oversight of payment systems. Central Bank Digital Currency (CBDC - Digital Rupee): Policy: RBI is actively piloting both wholesale and retail versions of the Digital Rupee (e₹). For instance, CBDC could be programmed for specific uses (e.g.,

Financial Inclusion

Financial Inclusion Payment APIs and Integration Real Time Gross Settlement (RTGS) Funds Transfer

ESG-Linked Payments in Transaction Banking

Finextra

JULY 2, 2025

Tokenized Sustainability Credits: Corporates can settle parts of cross-border payments with on-chain carbon tokens or biodiversity credits, automating offset procurement during reconciliation. They can integrate real-time ESG scoring by licensing third-party data feeds and embedding them into payment authorizations.

Transactions

Transactions ISO 20022 Payment APIs and Integration Payments

Australia Launches Major Tokenisation Pilot with Central Bank and Industry Players

The Fintech Times

JULY 10, 2025

Backed by the Australian Securities and Investments Commission (ASIC) , the Australian Prudential Regulation Authority (APRA) and the Australian Treasury, the project is led by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC).

Central Bank

Central Bank Settlement Use Case Stablecoins

Payments regulation roadmap: Q3 2025

The Payments Association

JULY 18, 2025

Legal issue/risk Next steps/action required Legal issue/risk: The FCA has the authority to take regulatory action, issue fines, or impose constraints on firms that breach impact tolerances or fail critical resilience testing. Increased operational burden from expanded fraud prevention mandates and SCA obligations.

Regulations

Regulations Payment APIs and Integration Payments Legal

Nauru establishes a crypto asset regulator

The Paypers

JUNE 23, 2025

Regulations

Regulations Cross-Border CBDC Governance

Will Central Bank Digital Currencies (CBDCs) Impact Cross-Border Payments in 2024?

The Fintech Times

FEBRUARY 26, 2024

As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digital currencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker. With so many countries looking towards centralised digital assets, we set out to find out how these would impact the cross-border payments market.

Cross-Border Payments

Cross-Border Payments Cross-Border Digital Currency Central Bank

RBI Discusses CBDCs for Cross-Border Payments with HKMA, US Fed, and SWIFT

Fintech News

DECEMBER 10, 2023

The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.

Cross-Border Payments

Cross-Border Payments Cross-Border SWIFT Fed

RAKBANK Completes International CBDC Transaction Using eCNY and Digital Dirham

The Fintech Times

SEPTEMBER 11, 2024

Central bank digital currencies (CBDCs) have a lot of potential to uproot the cross-border payments market. RAKBANK has successfully exchanged a remittance using China’s digital Yuan (eCNY) in exchange for the Digital Dirham, the UAE’s CBDC.

CBDC

CBDC Cross-Border Payments Transactions Cross-Border

Singapore and China to Begin e-CNY Pilot, Explore Cross-Border Payment Linkage

Fintech News

DECEMBER 6, 2023

Singapore and China have agreed to collaborate on a pilot programme that uses the e-CNY, China’s central bank digital currency (CBDC), for cross-border transactions. This programme is designed to ease payments for travelers from both countries during their overseas visits.

Cross-Border Payments

Cross-Border Payments Cross-Border CBDC Payments

How OpenWay’s Way4 Enabled the First CBDC Card Transaction in Eurasia

Fintech News

MAY 27, 2024

Central bank digital currencies (CBDCs) have largely existed in the virtual realm, with transactions initiated primarily through web and mobile interfaces. However, a significant shift has occurred with the launch of Eurasia’s first CBDC cards in Kazakhstan, providing 20 million consumers with a new, tangible way to manage CBDC funds.

CBDC

CBDC Transactions Payment APIs and Integration Cross-Border

China and Singapore to launch cross-border digital yuan pilot

NFCW

DECEMBER 19, 2023

Chinese visitors will soon be able to use digital yuan for “tourist spending” in Singapore as part of a pilot to test the use of China’s central bank digital currency (CBDC) for cross-border payments.

Cross-Border

Cross-Border Cross-Border Payments CBDC Digital Currency

CBDCs, Green Finance Among BIS Innovation Hub Projects Announced for 2024

Fintech News

JANUARY 23, 2024

This project is a joint effort with the Hong Kong Monetary Authority (HKMA) and is part of ongoing research into the development of CBDC systems, considering privacy concerns.

Innovation

Innovation CBDC Cross-Border Payments Finance

How the UAE’s Stablecoin Decision Could Impact Local Businesses, Crypto and a Future CBDC

The Fintech Times

JUNE 19, 2024

The Dubai Financial Services Authority (DFSA) also amended its Crypto Token regime in June. What could it mean for the future of the financial ecosystem, for the crypto space in the region, and the future of a UAE CBDC? ” Enabling innovation and a future CBDC? . ” Enabling innovation and a future CBDC?

CBDC

CBDC Stablecoins Regulations Disputes

Stablecoins in Asia Are Stably Reducing Dependency on USD

Fintech News

DECEMBER 13, 2024

Its utility spans cross-border payments, digital wallet top-ups via Grab, and reduced currency conversion costs for businesses and traders in Southeast Asia. Singapores progressive regulatory framework, underpinned by the Monetary Authority of Singapores Payment Services Act, has significantly bolstered XSGDs adoption.

Stablecoins

Stablecoins Cross-Border Cross-Border Payments Caps

Examining Thailand’s Fintech Landscape

The Fintech Times

AUGUST 6, 2024

Similar to other regions across Asia, mobile payments are now preferred as a payment method over card payments by 70 per cent of Thai consumers. QR codes have also become a popular payment method in Thailand. Supporting startups Thailand is also investing significant resources into its wider startup ecosystem.

FinTech

FinTech Distributed Ledger Technology (DLT) Cross-Border Cross-Border Payments

What are CBDCs?

Fintech Review

APRIL 24, 2024

Distinct from decentralised cryptocurrencies such as Bitcoin , CBDCs are centralised and backed by government authorities. Fintech Review delves into the characteristics of CBDCs, examining their potential benefits, and addressing the complexities they introduce to the global financial system. The post What are CBDCs?

Central Bank

Central Bank CBDC Cross-Border Payments Cross-Border

Fintech in Singapore: 2023 in Review

Fintech News

DECEMBER 20, 2023

Developments include cross-border quick response (QR) payment linkages, connectivity between real-time national payment schemes, and the ongoing Singapore Response Code Scheme (SGQR+) project focusing on furthering QR code payment interoperability.

FinTech

FinTech Cross-Border CBDC Web 3.0

Is ‘Embedded Regulation’ The Key To Stablecoins’ Success?

PYMNTS

NOVEMBER 25, 2020

24) from the BIS monetary and economic department titled “ Stablecoins: Risks, Potential and Regulation ,” the authors contended that stablecoins — including but not limited to Facebook’s Libra — pose a range of challenges to financial authorities around the world. The Value Of CBDC . In a paper that debuted Tuesday (Nov.

Stablecoins

Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency

FPC 2023 Spring Member Meeting

Faster Payments Council

MARCH 15, 2023

Some are retail, some are wholesale, some are domestic, some are regional, and some are cross border. The panel will explore some of these initiatives including the New York Fed's CBDC pilot program with major banks, the recently concluded Boston Fed's Project Hamilton and other global CBDC projects.

FPC

FPC ISO 20022 Cross-Border Payments Federal Reserve

Project mBridge Reaches MVP Stage, Expands International Participation

The Fintech Times

JUNE 6, 2024

This project aims to create a multi-central bank digital currency (CBDC) platform for instant cross-border payments and settlements, leveraging distributed ledger technology (DLT). The platform now invites further international participation and private sector proposals for value-added solutions.

Participant

Participant Distributed Ledger Technology (DLT) Cross-Border Payments CBDC

Here Are the Top 10 Must-Attend Sessions at Money20/20 Asia 2024

Fintech News

MARCH 5, 2024

Morgan, Kasikorn-Line, IBM, Hong Kong Monetary Authority, and Google Cloud, attendees at Money20/20 Asia are in for an insightful experience. #1 Through this payment linkage launched in December 2023, individuals can pay for goods and services by scanning the Hong Kong FPS QR code or the Thai PromptPay QR Code at participating merchants.

APACS

APACS Embedded Finance Financial Inclusion CBDC

Here Are the Top 10 Must-Attend Sessions at Money20/20 Asia 2024

Fintech News

MARCH 5, 2024

Morgan, Kasikorn-Line, IBM, Hong Kong Monetary Authority, and Google Cloud, attendees at Money20/20 Asia are in for an insightful experience. #1 Through this payment linkage launched in December 2023, individuals can pay for goods and services by scanning the Hong Kong FPS QR code or the Thai PromptPay QR Code at participating merchants.

APACS

APACS Embedded Finance Financial Inclusion CBDC

5 Top Fintech Trends Shaping the APAC Region in 2024

Fintech News

JANUARY 9, 2024

A notable indicator of this shift is the growing preference for cross-border payment solutions built upon blockchain technology, particularly within the APAC region. The central bank of Singapore has announced plans to pilot the issuance and use of wholesale central bank digital currencies (CBDCs) in the coming year.

APACS

APACS FinTech Digital Currency Blockchain

Meet the 18 Finalists for the 2024 Global Fintech Hackcelerator

Fintech News

OCTOBER 28, 2024

The Monetary Authority of Singapore (MAS) has unveiled the finalists for the 2024 Global Fintech Hackcelerator. The 18 finalists have been selected based on solutions to challenges in credit access, financial literacy, cross-border payments, and personalized protection, among other areas.

FinTech

FinTech Financial Literacy Cross-Border Distributed Ledger Technology (DLT)

Central banks from China, Thailand, UAE, Hong Kong to explore digital currency for cross-border payments

The Paypers

FEBRUARY 24, 2021

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have worked together to study the application of central bank digital currencies (CBDC).

Digital Currency

Digital Currency Central Bank Cross-Border Payments Cross-Border

Finovate Global France: Lydia Launches New Digital Brand, RockFi Raises Millions, Meet Finovate’s French Alums

Finovate

MAY 17, 2024

In addition to the launch of Sumeria, Lydia is also seeking a credit institution license from the French Prudential Supervision and Resolution Authority. ” Central and Southern Asia Indian digital payments company PhonePe partnered with LankaPay to bring UPI payment acceptance to Sri Lanka.

Cross-Border

Cross-Border P2P Cross-Border Payments Visa

Why hasn’t the US fully embraced the digital dollar?

Tearsheet

FEBRUARY 8, 2024

While many countries worldwide are exploring the potential of Central Bank Digital Currency (CBDC), China continues to expand its e-CNY in the market. China introduced its CBDC to the world at the Olympic Games in February 2022. In the US, the CBDC would be a third form of the US Dollar after paper and coins.

CBDC

CBDC Digital Currency Federal Reserve Privacy

The Fed’s crypto pivot: Unlocking banking access and its impact on payments

The Payments Association

MARCH 18, 2025

During the Biden Administration, the US Federal Reserve (the Fed) explored plans for Project Cedar, an early-stage framework for a potential central bank digital currency (CBDC). Senator Lee has been among the most vocal opponents of a US CBDC, expressing concerns about potential government overreach.

Federal Reserve

Federal Reserve Stablecoins Fed Settlement

The payments regulation roadmap: Q2 2025

The Payments Association

APRIL 14, 2025

Related links: Financial promotion rules for cryptoassets Financial promotions data 2024 Top regulatory priorities for the payments sector Mandatory adoption of ISO 20022 for cross-border payments (final preparations Q2) The transition to ISO 20022 for cross-border payments is a fundamental shift in global financial messaging standards.

Regulations

Regulations ISO 20022 Cross-Border Legal

Payments Space

CBDCs in practice: What we’ve learned from the early movers

The Journey of Payments and Clearing Systems in India

ESG-Linked Payments in Transaction Banking