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Back to the Future with Global Payments Trends

Finovate

Global payments have been gaining popularity in fintech over the past few months. There is increasing demand for faster, safer, and cheaper payment opportunities as cross-border trade activity escalates. That’s because, in many cases, banks may need to build new businesses to keep their existing customers.

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Central Bank Of Russia: Electronic Money Could Render SWIFT Obsolete

PYMNTS

Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). China, Russia’s central trade partner, has been testing its digital yuan in some cities, as well as on digital platform JD.com.

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Central Bank Digital Currencies (CBDCs) in 2024

Clearly Payments

Central Bank Digital Currencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. This article covers what CBDCs are, how they have evolved until 2024, their impact on payments, and the future they could shape.

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Universal Digital Payments Network (UDPN) and FORUS Digital Announce Strategic Cooperation to Advance Financial Innovation in Africa

Fintech Finance

Digital Asset Tokenisation System: Provides a robust production-grade platform for financial institutions, such as banks and investment firms, to tokenise real-world assets and manage them within a regulated environment. Financial innovation is not limited to central banks. by 2024.

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New BIS Project Explores Wholesale CBDC for Faster, Cheaper Cross Border Payments

Fintech News

The Bank for International Settlements (BIS) has launched Project Rialto to test the potential for improving instant cross-border payments through a combination of a modular foreign exchange (FX) component and wholesale central bank digital currencies (wCBDC).

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The Next Decade of Growth in Southeast Asia’s Booming Digital Payments Ecosystem

Fintech News

This enhanced connectivity allows users to move funds effortlessly across payment methods and national borders, streamlining transactions for individuals and businesses alike.

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

Fintech News

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.