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The Deutsche Bundesbank has become a member of Project Guardian , a global initiative led by the Monetary Authority of Singapore (MAS) that explores the use of asset tokenisation in financial markets. The Bundesbank is very pleased to be cooperating with a partner that is as competent as MAS.”
The Bank for International Settlements (BIS) and a group of centralbanks have successfully completed Project Mandala demonstrating automated compliance for cross-border transactions.
Paymob , the leading financial services enabler in MENA-P, announces it has been granted the Retail Payment Services License by the CentralBank of the UAE (CBUAE) after successfully meeting all regulatory conditions and requirements through a rigorous approval process.
Australia’s centralbank and a government-backed research centre have selected 24 industry participants to trial digital settlement systems for tokenised assets, in a project exploring the future of wholesale finance. The pilots span asset classes such as fixed income, private markets, trade receivables and carbon credits.
The Monetary Authority of Singapore (MAS) has unveiled four new plans to help advance tokenisation in financial services in the region. In 2023, the centralbank launched the Global Layer One (GL1) initiative, to help develop foundational digital infrastructures, on which it could deploy commercial networks.
Centralbank digital currencies (CBDCs) have rapidly evolved from theoretical concepts into live pilots and national deployments. From Asia to the Caribbean and Europe, centralbanks are grappling with how to digitise public money while preserving trust, utility, and sovereignty.
On 8 April 2025, the Bank of Lithuania imposed a 3.5 million penalty on Revolut Bank UAB the largest penalty ever for the neobank for the deficiencies in its financial crime prevention system. The post Another Revolut Fine This Time from the CentralBank of Lithuania appeared first on Neopay. The fine of 3.5
A consortium of centralbanks has formally established Nexus Global Payments (NGP) in Singapore to manage a new multilateral cross-border payment system. The founding members are the Reserve Bank of India, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore (MAS), and the Bank of Thailand.
. 📌 In the digital euro model, payments would be made in centralbank money, with banks having a less central role in the transaction flow. It expresses the views and opinions of the author. 17 hours See all opinions External This content is provided by an external author without editing by Finextra.
Reserve Bank of India (RBI) Establishment (1935): The RBI was established to regulate currency, provide banking services to the government, and act as a banker to banks. This laid the foundation for a centralized monetary authority and future oversight of payment systems.
ESG Aware CBDCs: Centralbanks may introduce digital currencies with embedded green rules, for e.g., CBDC holdings that automatically earn rebates when funding renewable projects or transition bonds. They can integrate real-time ESG scoring by licensing third-party data feeds and embedding them into payment authorizations.
Indonesia has reached a significant milestone in its journey toward exploring the potential of CentralBank Digital Currencies (CBDCs) with the completion of the Proof of Concept (PoC) for the wholesale Digital Rupiah under the auspices of Bank Indonesias Project Garuda. Each platform exhibited distinct strengths.
Collaboration between QFTH, alongside other entities like the Qatar Development Bank (QDB ), Qatar Financial Centre (QFC) , and Qatar CentralBank (QCB) , has also been instrumental in driving the fintech ecosystem forward.
In November 2023, the European CentralBank (ECB) began the preparation phase of a digital euro. The post European CentralBank Lays Foundations for Potential Issuance of Digital Euro in New Progress Report appeared first on The Fintech Times. It will also explore other innovative use cases for a digital euro.
Banks By 2020, Bhutan’s financial sector included five banks, three insurance companies, one CSI bank, five microfinance institutions, one pension institution, two telecom companies as well as a single stock exchange.
These three new licences join the growing portfolio of over 30 licences and registrations worldwide that dLocal has amassed, including the Financial Conduct Authority (FCA) licence it obtained in the UK earlier this year. In the United Arab Emirates , dLocal has been granted a Payment Services Licence.
In 2025, PagBrasil received authorisation from the CentralBank of Brazil to operate as a payment institution (PI) in the electronic money issuer category. The PI license is a testament to our strength as a fintech now officially recognised by the CentralBank. What are you most excited about in 2025?
The Monetary Authority of Singapore (MAS) has announced plans to advance asset tokenisation within the financial services sector. Access to a common settlement facility is also being facilitated through the SGD Testnet, featuring S$ wholesale centralbank digital currency (CBDC) for market testing.
The UPI-PayNow service was launched as a joint initiative between the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS). This update for real-time cross-border payments makes it easier for people, especially migrant workers and students, to send and receive money between the two countries safely and easily.
The customer will input the required payment information on the page and then click Pay to authorize the transaction. Payment verification Once the payment processor receives the now-encrypted payment information, it will be sent to the issuing bank for verification. However, credit and debit cards are more convenient.
Singapore FinTech Festival returned for its ninth annual edition, bringing together policy, finance and technology communities at the Singapore EXPO. As expected, innovations and announcements were rife throughout, here’s a roundup of all the news coming out of the global event.
Looking to take stablecoin usage to the next level in Hong Kong, Standard Chartered Bank (Hong Kong) Limited (SCBHK), Animoca Brands , and HKT have announced a joint venture (JV) to issue a Hong Kong dollar-backed stablecoin. The process won’t be as simple as just launching a stablecoin though.
In a significant step to strengthen global cooperation and enable cross-border financial services, the Financial Conduct Authority (FCA) has announced that it will establish its first overseas offices in the United States and Asia-Pacific (APAC) regions.
Regulatory compliance in all jurisdictions where partners are, including regular contact with CentralBanks and other regulatory authorities. Our platform is built using the industry’s strictest global governance, privacy, and security standards.
We have the Bank of England, the Financial Conduct Authority ( FCA), the National Wealth Fund, all of the insurance companies, professional services and the building societies here. If we can support that as a local authority by making sure the conditions are right, we will continue to do those things.
Centralbanks across 66 countries are now in the advanced phases of exploring CentralBank Digital Currencies (CBDCs), with 44 pilots including the digital euro already underway. Digital currencies can be issued by centralbanks (aka. CBDCs), commercial banks (aka. stablecoins).
has taken an entirely market-led approach until now, other countries have been driven by regulatory mandates that have shaped their respective Open Banking ecosystems, such as in the UK, the European Union, Australia and Brazil. While the U.S. Take the UK, for example. For the UK, it is a more diffuse position.
Organised by Fintech Saudi and Tahaluf , and hosted by key regulatory bodies including the Saudi CentralBank and the Capital Market Authority, the event drew over 300 exhibitors, more than 350 investors and more than 37,000 visitors.
The convenience caught on with Peruvians, and mass adoption of digital wallets led this type of financial product, driven by Yape, to grow an impressive 88% in transaction volume and 102% in processed transactions in 2024, according to the CentralBank of Peru. It expresses the views and opinions of the author.
The CentralBanks are working on regulations that protect the users of stablecoins for their currencies. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author.
Myanmar’s financial sector, under the CentralBank of Myanmars vision introduced in 2016, has also made remarkable strides in modernisation. This highlights the immense opportunity for growth as the country progresses with digital banking and payments adoption.
International Ripples: Global Banking and Geopolitics in a Stablecoin Era The U.S. move to regulate stablecoins is sending ripples through international banking halls and centralbank offices alike. For one, American banks getting into stablecoins puts pressure on banks elsewhere to not fall behind.
Discussions are also progressing toward the adoption of nexo standards for the future Digital Euro , already recognized by the European CentralBank (ECB) as a key technical framework. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
The payment method is outside the control of a centralizedauthority like the centralbanks that issue and guarantee traditional legal tender (money). A check is a dated and signed instrument that authorizes a bank to pay a specific sum from the funds in a bank account to the bearer of the instrument.
Organized by the Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA), the award highlights outstanding contributions to the financial technology industry. Thank you to the entire Singapore Fintech Association team and the Monetary Authority of Singapore for the fantastic event and work you do!
The launch of Alipay+ would represent the biggest acceptance of cross-border payments in Sri Lanka, including their partners from top inbound operators and potential markets such as Italy, Singapore, Malaysia and China, as identified by the Sri Lanka Tourism Development Authority (SLTDA), and other top growth markets like South Korea and Thailand.
Globally, preparations for centralbank digital currencies and evolving open finance frameworks signal longer-term structural change. This initiative adopts a platform model, where the Bank issues digital pounds via a central ledger, while private-sector firms offer wallets and payment services.
Origins and Collaborative Development Pathway 2035 builds on the BIS working paper Finternet: The Financial System for the Future , co-authored by A. From cryptocurrencies to tokenized assets and CentralBank Digital Currencies (CBDCs), blockchain and other Distributed Ledger Technologies (DLTs) are at the core of these innovations.
The Office of the Superintendent of Financial Institutions (OSFI), Canada’s banking regulator, authorized Banco Santander’s Santander Consumer Bank to begin operations in March. The UAE CentralBank announced a goal of launching a CBDC , the Digital Dirham, for retail use by the end of the year.
Home Announcements Wholesale NBO opens API gateway to Oman External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. 0 11 hours Be the first to comment External This content is provided by an external author without editing by Finextra.
These will range from centralbank and regulatory authorities, C-suite executives from banks and financial institutions, heads of digital innovation, payments, risk, founders of fintech startups and insurtech as well as investors, accelerators and digital strategy advisors.
Latin American cross-border payments platform dLocal secured an authorized payment institution license from the U.K.’s HyperPay received a digital payment services license from the Saudi CentralBank (SAMA). ’s FCA. Thailand announced a pilot project to test crypto payments for tourists visiting Phuket.
Financial inclusion, digital and fintech While the World Bank says that at least 80 per cent of adults in the Maldives have a bank account with a traditional financial institution, the nation’s centralbank, the Maldives Monetary Authority (MMA), says that cash remains the most popular payment method.
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