Fintech News

MAY 27, 2024

Central bank digital currencies (CBDCs) have largely existed in the virtual realm, with transactions initiated primarily through web and mobile interfaces. The first CBDC card transaction in Eurasia was successfully made on 15 November 2023. This marked a milestone in the region’s digital currency journey.

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Clearly Payments

AUGUST 29, 2024

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. With the rise of digital payments, cryptocurrencies, and fintech innovations, CBDCs represent a new frontier in the evolution of money.

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Fintech News

DECEMBER 11, 2023

SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, and Giesecke+Devrient (G+D) successfully completed a proof-of-concept (PoC) on the Universal Digital Payments Network (UDPN). Meanwhile, the the direct model is where central banks manage wallets and settlements within a centralised CBDC system.

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CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 113

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 National Bank of Cambodia (NBC) has been instrumental in facilitating these digital currency evolutions.

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Fintech News

JUNE 4, 2024

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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Fintech News

MARCH 25, 2024

Swift, the global financial messaging cooperative, revealed that the latest round of experiments conducted within a collaborative Central Bank Digital Currency (CBDC) sandbox has shown promising results for the application of CBDCs and digital tokens. said Tom Zschach, Chief Innovation Officer at Swift.

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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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PYMNTS

NOVEMBER 27, 2019

Beau wants to use distributed ledger technology (DLT), and France is considering a central bank digital currency (CBDC). Digital tokens could also help, he said, adding that if you combine tokens with DLT, you could easily move money, as well as “help in answering market’s demands.”.

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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 Rewards.

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PYMNTS

DECEMBER 28, 2020

Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digital currencies, some of which could launch in five to seven years.

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PYMNTS

SEPTEMBER 15, 2020

Central bank digital coins on the Continent – but plenty of room for cash. To that end, Bloomberg reported at least some financial regulators from the European Union say there need to be strict controls governing central bank digital currencies in place — and Libra (among other private efforts) may present a threat to financial stability.

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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. But what would spark such a U-turn?

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Fintech News

SEPTEMBER 11, 2024

Initially, these will use fiat currencies, but Swift plans to eventually integrate tokenised forms of money such as central bank digital currencies (CBDCs) and stablecoins. Swift is also addressing the growing fragmentation in the digital asset ecosystem.

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PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. The Federal Reserve Bank has been exploring a digital currency.

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Fintech News

JANUARY 21, 2025

Southeast Asia is on the brink of a rapid expansion in open banking, with financial institutions leveraging open banking to enhance customer experiences, and fintech companies utilizing application programming interfaces (APIs) to revolutionising payments, lending, and more. appeared first on Fintech Singapore.

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Finovate

NOVEMBER 18, 2024

Global payments have been gaining popularity in fintech over the past few months. Though decreased funding and downrounds have slowed the growth of new payments unicorns, their track record has proven that, when the fintech sector begins to boom again, we will likely see a boost in high-value payments fintechs. Despite U.S.

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The Paypers

SEPTEMBER 3, 2024

HDFC Bank has introduced new features for the Unified Payments Interface (UPI) and Central Bank Digital Currency (CBDC), developed in collaboration with various fintech partners.

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Fintech News

DECEMBER 10, 2023

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.

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PYMNTS

JUNE 15, 2020

Korea’s central bank has rolled out a legal advisory group to look at potential challenges to bring a central bank digital currency (CBDC) to fruition, The Korea Times reported. The panel’s start is a portion of the first stage for the Bank of Korea’s (BOK) plan to create a CBDC.

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Fintech News

JANUARY 9, 2024

The fintech landscape in the Asia Pacific (APAC) region has been evolving at a remarkable pace, with start-ups and established companies redefining how financial services are delivered and consumed. Today, we will explore five top fintech trends in the APAC region for 2024, supported by statistics and insightful information.

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Fintech News

DECEMBER 20, 2023

Efforts were also made to advance digital assets, tokenization and central bank digital currency (CBDC) experimentation with initiatives such as Project Guardian and Project Orchid expanding to include more use cases and moving towards “live” pilots. and advancing talent.

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PYMNTS

SEPTEMBER 17, 2020

The race to develop central bank digital currencies (CBDCs) is underway, but it seems the Reserve Bank of Australia may not be in the running. 17), Australia’s central bank has viewed the issuance of such digital coinage with caution, and even a bit of skepticism. As reported by Cointelegraph Thursday (Sept.

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PYMNTS

AUGUST 21, 2020

Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Central bank digital currencies (or CBDCs) have been gathering steam, at least as a concept. Interoperability Is Key.

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The Fintech Times

JUNE 19, 2024

The Central Bank of the United Arab Emirates (CBUAE) has approved new regulations for stablecoins, enabling it to integrate Dirham-backed digital currencies into its financial ecosystem. 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?

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The Fintech Times

FEBRUARY 28, 2025

Finovate brought the fintech world to life with its signature live demos, capturing a snapshot of the industry’s latest developments. Day 1: Demos in action A defining feature of Finovate events, the live demonstrations on day one provided an unfiltered look from companies representing 13 countries at fintechs latest innovations.

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The Fintech Times

AUGUST 9, 2024

This initiative coincides with the UAE’s advanced pilot of a Central Bank Digital Currency (CBDC), which is designed to work alongside traditional physical currencies, offering a secure and efficient method of digital transactions. The UAE is one of only 36 countries in the world currently piloting a CBDC.

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Fintech News

DECEMBER 6, 2023

Singapore and China have agreed to collaborate on a pilot programme that uses the e-CNY, China’s central bank digital currency (CBDC), for cross-border transactions. The post Singapore and China to Begin e-CNY Pilot, Explore Cross-Border Payment Linkage appeared first on Fintech Singapore.

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Fintech Finance

SEPTEMBER 10, 2024

This investment, made through Accenture Ventures, will support EMTECH in its efforts to transform central banks’ financial and technology infrastructure and make it easier for central banks to regulate and supervise fintechs in an increasingly digital economy. Terms of the investment were not disclosed.

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The Fintech Times

MAY 26, 2024

In recent years, digital currencies have been all the rave. However, the idea that digital assets are exclusively some form of currency is slowly falling by the wayside as different use cases are emerging and being rapidly adopted. Developed and emerging markets alike are considering the possibility of introducing CBDCs.

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PYMNTS

MAY 22, 2020

The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. . The digital currency would be backed by the yuan, the Korean won, the Japanese yen and the Hong Kong dollar. .

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The Fintech Times

AUGUST 28, 2024

Looking to harness this potential, the Hong Kong Monetary Authority (HKMA) launched ‘Project Ensemble’ in March earlier this year, a wholesale central bank digital currency (wCBDC) project, to support the development of the tokenisation market in the region.

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PYMNTS

MAY 22, 2020

The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. . The digital currency would be backed by the yuan, the Korean won, the Japanese yen and the Hong Kong dollar. .

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Fintech Finance

JULY 4, 2024

Offline payment functionality offers benefits for all stakeholders in the financial industry As a BIS study from 2023 underlines, offline functionality is also a necessity for a Central Bank Digital Currency (CBDC), which is currently being explored by numerous central banks worldwide.

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PYMNTS

SEPTEMBER 11, 2020

Vélez explained in a previous PYMNTS feature story how the bank makes safe and easy-to-access digital experiences as well as why COVID-19 is fueling even more dependence on debit payments. In separate news, Brazil is reportedly aiming to roll out a central bank digital currency (CBDC) by 2022 to help digitize payments.

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The Fintech Times

AUGUST 19, 2024

The Hong Kong Science and Technology Park In 2023, an estimated 800 fintechs called Hong Kong home, 180 more than five years prior. Today, it is home to closer to 1,000 fintechs and startups. Some of those fintechs headquartered in Hong Kong include the likes of virtual bank WeLab Bank , insurtech Bowtie and digital-only bank ZA Bank.

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Fintech News

OCTOBER 28, 2024

The Monetary Authority of Singapore (MAS) has unveiled the finalists for the 2024 Global Fintech Hackcelerator. The winners of the competition will be announced on 7 November 2024 during the SFF Fintech Excellence Awards. Here Are the 18 Finalists for Global Fintech Hackcelerator 2024 1.

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The Paypers

SEPTEMBER 12, 2022

The Reserve Bank of India (RBI) has consulted with public sector banks and fintechs such as FIS in order to test out a central bank digital currency.

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