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SCB 10X Introduces ‘Rubie Wallet’ for Stablecoin Payments at Devcon 2024

Fintech News

Developed in collaboration with Siam Commercial Bank ( SCB ), InnovestX, Fireblocks, Elliptic, Circle, and Base, the wallet offers a streamlined alternative to traditional currency exchange methods. Utilising the Base blockchain allows for low-cost transactions. Users can make instant mobile payments via a closed-loop QR code system.

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UBS Successfully Pilots Blockchain-based Payment Solution for Cross-Border Transactions

The Fintech Times

Global asset manager and Swiss bank UBS has developed and successfully piloted a blockchain-based payment solution, aiming to increase efficiency and transparency, as well as enable the programmability of money movements for corporate and institutional clients. UBS plans to further expand and develop its UBS Digital Cash offering.

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MAS to Explore Wholesale CBDC for Settlement Among Series of Tokenisation Plans

Fintech News

To speed up progress, MAS is now pushing for participants to commercialise their findings, fostering a connected network for trading tokenised assets. 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.

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Digital Rupiah Inches Closer with Successful Completion of PoC

Fintech News

Indonesia has reached a significant milestone in its journey toward exploring the potential of Central Bank 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.

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PayPal Stablecoin (PYUSD) Made Available on Solana Blockchain

The Fintech Times

PayPal USD (PYUSD), PayPal ‘s USD stablecoin, will now be available on the Solana blockchain. The news was announced at Consensus 2024 , the long-running cryptocurrency, blockchain and web3 event. “Continued adoption from industry participants like PayPal helps realise the next generation of fintech innovation.”

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Bitcoin Daily: Nigeria Moves To Create Crypto Framework; Australia Holds Blockchain Pilot With Singapore

PYMNTS

The Federal Ministry of Finance in Nigeria is said to be in discussions with the securities watchdog in the country to create a new digital currency and blockchain structure, Cointelegraph reported. As it stands, bitcoin and other digital currencies are seeing increasing use in Nigeria.

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Payments trends report 2024

The Payments Association

Furthermore, the report takes a forward-looking approach, incorporating forecasts for 2025 and exploring pivotal themes such as artificial intelligence in payments, the evolution of tokenisation and decentralised finance (DeFi), and the adoption of emerging technologies like blockchain, generative AI, and machine learning.