Remove CBDC Remove Cross-Border Remove Global Payments
article thumbnail

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).

article thumbnail

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. Growth of global payments revenue Last year, the global payments industry processed 3.4

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

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

Fintech News

A key feature on its way to mobile wallets is support for card networks and domestic bank transfer networks alongside international cross-border payment rails.

article thumbnail

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

Fintech Finance

FORUS Digital has positioned itself in Africa to help central banks and commercial banks in their journey towards CBDC using the UDPN All-in-One Digital Currency Sandbox. The programmability of value-added financial services will enable new business models and enhance the efficiency and transparency of cross-border payments.

article thumbnail

PAY360 2025 unpacked: Key survey findings shaping the future of payments

The Payments Association

Key insights from the PAY360 2025 survey on current challenges and opportunities in the payments sector. It highlights how industry leaders are prioritising AI, cross-border payments, and digital currencies while grappling with regulatory, technological, and customer demands. Why is it important? What’s next?

article thumbnail

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). SWIFT currently expedites cross-border payments for 11,000 banks across more than 200 countries. dollar and could make digital payments more affordable.