PYMNTS

JUNE 8, 2020

United Nations global blockchain expert Massimo Buonomo has foreseen a future where digital currencies could replace low-interest bank accounts, Coindesk reports. In addition, Buonomo said digital currencies, especially central bank digital currencies (CBDC) may eventually be able to replace all bank accounts.

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Blockchain Accounts Digital Currency Federal Reserve 135

The Paypers

DECEMBER 20, 2022

The Reserve Bank of India has launched CBDC pilots in the wholesale and the retail segment, with the retail one including blockchain-based components.

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CBDC Blockchain Technology 68

Fintech Finance

NOVEMBER 21, 2024

This partnership is set to empower African communities, governments, and businesses, and represents a significant step toward realising the shared goal of financial inclusion and economic advancement across Africa, with blockchain and decentralised finance at the forefront of this transformation.

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Payment Networks Digital Payments Digital Currency Innovation 98

The Fintech Times

SEPTEMBER 25, 2024

While 134 countries and currency unions, representing 98 per cent of global GDP, are currently exploring a central bank digital currency (CBDC), the Bank of Canada has revealed it is officially putting efforts to introduce a digital version of the Canadian dollar on pause. Could a CBDC still be in Canada’s future?

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CBDC Digital Currency Central Bank Privacy 75

Fintech News

SEPTEMBER 11, 2024

Its blockchain interoperability experiments have demonstrated that Swift’s infrastructure can support the transfer of tokenized value across both public and private blockchains. Swift is also addressing the growing fragmentation in the digital asset ecosystem. These efforts aim to bridge traditional and digital financial systems.

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SWIFT Multi-Currency CBDC Interoperability 145

Fintech News

JUNE 4, 2024

Decentralised solutions, CBDC, and interconnected payment infrastructures offer promising paths to improve cross-border payments. Featured image credit: Edited from Freepik The post New BIS Project Explores Wholesale CBDC for Faster, Cheaper Cross Border Payments appeared first on Fintech Singapore.

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Cross-Border Payments Cross-Border CBDC Settlement 107

Fintech News

OCTOBER 23, 2024

Australia has unveiled a three-year initiative to explore the potential of central bank digital currencies (CBDCs) with a focus on wholesale CBDC opportunities, industry outreach and regulatory improvements, Brad Jones, Assistant Governor (Financial System) at the Reserve Bank of Australia (RBA), told the audience at an industry event in September.

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Fintech News

DECEMBER 11, 2023

Cambodia is implementing new initiatives to expand payment options for tourists by cementing blockchain-based central bank digital currency (CBDC) partnerships. The post Cambodia Advances Tourism Sector with Blockchain-Based Digital Currency Payments appeared first on Fintech Singapore.

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Digital Currency Blockchain CBDC Central Bank 109

Payments Dive

NOVEMBER 10, 2022

Researchers designed a prototype digital currency and blockchain and simulated foreign exchange spot transactions that cleared within 10 seconds, but they said the study doesn’t endorse a CBDC or assume the Fed will issue one.

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CBDC Fed Cross-Border Payments Cross-Border 78

Fintech News

JANUARY 9, 2025

Pioneering Technological Advancements One of the significant outcomes of the PoC was the demonstration of smart contractsself-executing codes embedded within the blockchain. Indonesias successful completion of the Digital Rupiah PoC highlights its vision and capacity to navigate the complexities of CBDC development.

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Distributed Ledger Technology (DLT) Multi-Currency Interoperability ISO 20022 127

The Fintech Times

JUNE 19, 2024

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? . ” Enabling innovation and a future CBDC? Middle Eastern ‘MiCA moment’?

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CBDC Stablecoins Regulations Disputes 69

The Fintech Times

NOVEMBER 16, 2024

With advancements in payment systems, blockchain exploration, and digital currencies, these nations are harnessing technology to transform their financial landscapes and drive future development. Fintech is playing a pivotal role in the economic growth of Armenia, Azerbaijan, and Georgia.

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FinTech Central Bank Financial Literacy Online and Mobile Banking 69

Payments Source

AUGUST 20, 2020

A CBDC has the potential to be a real game changer for the payment industry if one condition is met: central bank digital currency has to be built as an open and shared infrastructure for the private sector to easily build on top of it, says ConsenSys' Matthieu Saint Olive.

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Digital Currency Central Bank CBDC Payments 149

The Fintech Times

AUGUST 28, 2024

The firm is leveraging its blockchain and Internet of Things (IoT) technologies to record the real-time operational status of physical assets and upload this information to the blockchain. It will also engage with the CBDC Expert Group to leverage its subject matter expertise to further advance the sandbox.

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Interbank Settlement CBDC Settlement Use Case 134

PYMNTS

SEPTEMBER 17, 2020

But: The bank is keeping an eye on the experiences and progress of other nations, and still is researching its own technological and “policy implications” of wholesale forms of CBDC. In at least some nod to the technicalities, back in January, the central bank envisioned that the digital currency might be issued via blockchain platform.

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Central Bank CBDC Digital Currency Federal Reserve 72

The Fintech Times

MAY 29, 2024

It’s important to note that the regulation of cryptocurrencies varies widely across the MEA region, with some countries banning or severely restricting their use, such as Nigeria, which has opted to promote its own CBDC, the eNaira. CBDC overview across the MEA region in 2024 But why are so many countries adopting CBDC initiatives?

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Digital Currency CBDC Cross-Border Payments Cross-Border 111

Clearly Payments

AUGUST 29, 2024

This article covers what CBDCs are, how they have evolved until 2024, their impact on payments, and the future they could shape. What Are CBDCs? A Central Bank Digital Currency (CBDC) is a digital form built on blockchain technology of a country’s fiat currency issued and regulated by the central bank.

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Central Bank Digital Currency CBDC Cross-Border Payments 105

The Paypers

JANUARY 18, 2021

China’s Blockchain-based Service Network (BSN) has outlined a plan for a global network that will support future central bank digital currencies (CBDC) from multiple countries.

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PYMNTS

MAY 21, 2020

Patent and Trademark Office that would create a digital currency underpinned by blockchain technology. A wholesale CBDC, restricted to a limited group of financial counterparties, would be largely business as usual,” he said. However, a retail CBDC accessible to all would be a game-changer.

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Digital Currency Central Bank CBDC Federal Reserve 97

PYMNTS

JUNE 19, 2020

The Bank of Thailand plans to work on a new payment system for businesses using Central Bank Digital Currency (CBDC), according to a press release , which will be a step toward readying the business sector for the digital age. The release says the step will help CBDC reach wider audiences, beginning with corporate entities.

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CBDC Cross-Border Digital Payments Digital Currency 98

PYMNTS

AUGUST 21, 2020

As many as 80 percent of the 66 central banks polled by the Bank of International Settlements said they were at some stage of CBDC development. China has been at the forefront of those efforts, at least as measured in terms of debuting an actual CBDC, and is in the midst of testing its digital yuan in various settings.

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CBDC Fed Federal Reserve ISO 20022 107

The Paypers

JUNE 25, 2021

Swiss National Bank ( SNB ) economist Carlos Lenz has stated at a press conference organised by the Swiss Bankers Association that there is no need for a digital franc.

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CBDC Blockchain 78

PYMNTS

FEBRUARY 21, 2020

Sweden’s Riksbank is assessing e-krona, a new form of digital currency that hopes to take the country a step closer to the creation of the world’s first central bank digital currency (CBDC), according to reports on Thursday (Feb. The pilot will run until February 2021 and will use blockchain technology, the Riksbank said.

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Central Bank Digital Currency CBDC Online and Mobile Banking 105

PYMNTS

OCTOBER 28, 2018

In other news, the world’s four largest agribusinesses are teaming up to utilize blockchain and artificial intelligence to digitize international grain trades. You could use a note which represented a pound of gold and it was well accepted,” said Chan.

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Bitcoin CBDC Blockchain Central Bank 62

PYMNTS

NOVEMBER 27, 2019

The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo! The ECB has been open to the idea, and could already be experimenting.

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Central Bank Digital Currency Distributed Ledger Technology (DLT) CBDC 94

The Fintech Times

MAY 26, 2024

Addressing privacy concerns Promoting CBDCs with a range of benefits aside, most consumers are concerned about privacy issues, says Andrew Carrier , member of the executive committee at blockchain finance firm Quant. This may mean that, initially, acceptance of the retail CBDC is gradual.

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CBDC Central Bank Privacy Multi-Currency 98

PYMNTS

JANUARY 20, 2021

In today’s top news in digital-first banking, Banque de France has completed its central bank digital currency (CBDC) test, while roughly 60,000 loans were distributed during the first week of the reopened Paycheck Protection Program (PPP). Banque De France Has Finished CBDC Trial.

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ISO 20022 CBDC ISOs Interbank Settlement 54

PYMNTS

SEPTEMBER 9, 2020

Sheila Warren, head of blockchain at the World Economic Forum, the Swiss-based trade group, said collaborations between the public and private sectors in the exploration of CBDC can help central banks understand the range of technology possibilities.

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Central Bank Digital Currency Visa CBDC 132

PYMNTS

JANUARY 20, 2020

As part of those efforts, the lab is being used to explore “whether there is a role for a digital Australian dollar — that is, an Australian [central bank digital currency (CBDC)] — in the context of the bank’s responsibilities for issuing the currency and overseeing the payments system.”. The language is interesting — and noteworthy.

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Digital Currency CBDC Retail Payments Central Bank 87

The Paypers

JULY 27, 2023

US-based blockchain company Ripple has partnered with Republic of Palau to launch a USD-backed Palau Stablecoin (PSC) on the XRP Ledger.

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CBDC Stablecoins Blockchain 69

Clearly Payments

AUGUST 24, 2024

According to the Bank for International Settlements (BIS), 114 central banks, representing over 95% of global GDP, were engaged in some form of CBDC research or development by the end of 2023. The adoption of blockchain technology has further revolutionized cross-border P2P transfers.

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Debit Card P2P Cross-Border Central Bank 105

PYMNTS

APRIL 7, 2020

Shipping technology company CargoSmart Limited led an experimental blockchain project for the release of cargo with the Shanghai International Port Group (SIPG), Tesla and China Ocean Shipping Company (COSCO), according to an announcement. Truckers were then able to retrieve cargo at the terminal quicker.

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Digital Currency CBDC Blockchain Bitcoin 60

Fintech News

DECEMBER 10, 2023

The RBI’s working group will build upon global advancements in CBDCs, including the US Federal Reserve’s trials with the Monetary Authority of Singapore and Hong Kong’s collaborative efforts with the People’s Bank of China on the digital yuan.

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Cross-Border Payments Cross-Border SWIFT Fed 125

The Paypers

JUNE 25, 2021

Swiss National Bank ( SNB ) economist Carlos Lenz has stated at a press conference organised by the Swiss Bankers Association that there is no need for a digital franc.

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CBDC Blockchain 61

PYMNTS

JULY 16, 2020

Blockchain initiative Teller has notched $1 million in a Framework Ventures-led seed capital to create a decentralized finance (DeFi) credit risk tool, according to an announcement. DeFi tools have spiked in popularity among those who are interested in digital currency in recent times, per the announcement.

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Central Bank CBDC Credit Risk Bitcoin 59

PYMNTS

DECEMBER 22, 2020

The experiments aim to examine a digital euro’s technical feasibility as well as its “programmability” as a coin separate from a central bank digital currency, (CBDC) according to CoinDesk. The European Central Bank has been a vocal supporter of a digital euro, advocating for a CBDC.

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Distributed Ledger Technology (DLT) CBDC Digital Currency Bitcoin 69

The Paypers

AUGUST 21, 2023

US-based payment-processing corporation Mastercard has chosen UK-based blockchain technology company Fluency as its CBDC partner.

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CBDC Visa Blockchain Process 36