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Unpacking 3 Key Concepts From G20’s Enhanced Cross Border Payments Plan

Fintech News

Theme 1: Establishing Optimal Governance and Interoperability Frameworks Effective governance and interoperability frameworks will be crucial for managing the complexities of cross-border payments. One idea is to have a central system for checking payments against sanctions lists, which could make the process faster and simpler.

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Web3 Foundation and Scytale Lead $2.5 Million Seed Investment in Hyperbridge to Build the End-Game for Blockchain Interoperability on Polkadot

Fintech Review

The Web3 Foundation , in partnership with Scytale Digital , has led the seed funding round for Hyperbridge , a groundbreaking protocol poised to transform blockchain interoperability. Unlike existing point-to-point bridge models, Hyperbridge introduces a hub model that scales verifiable interoperability across all chains.

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Will National Payment System Interoperability Pull the Rug From Under Stablecoins?

The Fintech Times

As national payment infrastructures become more interoperable and networked on a regional, and soon global, scale, stablecoins may start to lose their perceived ‘indisputable’ advantages in the cross-border sector. Cue interoperable national payment schemes. Stablecoins have not. At least, not yet.

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Open Banking Excellence (OBE) Launches First of its Kind Open Banking in a Box Programme to Drive UK Ecosystem Expansion Abroad

Open Banking Excellence

This provides the building blocks for regulators globally to drive transformational change in their own countries. The programme gives access to invaluable insights, expertise and practical advice honed from the UK’s experience in creating the blueprint for open banking.

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DBS Launches Blockchain-Based Treasury Tokens With Ant International

Fintech News

DBS’ blockchain is compatible with the Ethereum Virtual Machine (EVM) and integrates with its core payments system, enhancing interoperability with various industry payment infrastructures. This launch underscores how established financial institutions can utilise blockchain technology to offer advanced, 24/7 banking services.

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From Open Banking to Open Finance to DeFi: The Open Evolution of Finance

Finextra

Developers globally are composing new financial products at a frenetic pace, precisely because the protocols are open and interoperable. Open Banking achieved interoperability by establishing common API standards (for example, the UK’s Open Banking Implementation Entity set standard formats for data and secure connections).

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Market First, Regulation Later? The American Open Banking Journey

Open Banking Excellence

The CFPB is taking a different approach than other regulators by specifying a single standard-setting organisation for open banking, aiming to streamline implementation and ensure interoperability. This is unlike the EU or UK, where there were options. This requirement might put pressure on smaller banks to implement open banking solutions.