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Card issuing—the new competitive arena Once dominated by banks and card networks, the payment landscape now includes diverse players: digital wallets , BNPL providers , instant payment schemes, embedded finance apps, and central banks with CBDC (Central Bank DigitalCurrency).
Indonesia has reached a significant milestone in its journey toward exploring the potential of Central Bank DigitalCurrencies (CBDCs) with the completion of the Proof of Concept (PoC) for the wholesale Digital Rupiah under the auspices of Bank Indonesias Project Garuda.
Here’s a at the evolution, real-world potential, and future of CBDC-linked instruments in transaction banking. Past Trends Paper to Digital Ledgers: Cash and checks dominated corporate payables/receivables for decades. Here’s a at the evolution, real-world potential, and future of CBDC-linked instruments in transaction banking.
Under Project Guardian, an international collaboration of industry and regulators that explores the use of fund and asset tokenisation, the Monetary Authority of Singapore has conducted over 15 industry trials in six currencies across multiple financial products.
The two companies signed a new multi-year agreement, which will power PromptPay, the region’s RTP platform, to help develop Thailand’s growing digital economy. This builds on a long-established partnership that started in 2016, created to enable Thai businesses and citizens to transact more conveniently.
The integration will allow InSoil users to access features such as personal IBAN accounts, multi-currency settlements, and digital wallets. Moreover, the move aims to improve the efficiency of transaction processes and ensure compliance for both investors and agricultural borrowers.
Multi-currency capabilities exhibit similar patterns, with 11% currently adopted and 26% planning implementation, while 32% are considering options for potential international expansion. The mainstream adoption of cryptocurrency attracts 26% of merchants, suggesting cautious yet growing recognition of the potential of digitalcurrency.
Digital wallets are expanding faster than financial oversight can keep up, forcing governments to scramble for new safeguards without choking innovation. The European PSD2 framework, growing pressure on big techs financial ambitions, and central bank digitalcurrency (CBDC) discussions all indicate a looming regulatory crackdown.
In rapid, seven-minute slots, companies showcased solutions spanning AI-powered cybersecurity, digital banking transformation, embedded finance and next-generation authentication. This years Best of Show winners included: Keyless A biometric authentication platform eliminating passwords and multi-factor authentication.
This marks a notable improvement over the standard multi-day processing period commonly seen in real estate investment withdrawals. The launch aligns with broader trends in the MENA region, where digital finance adoption has accelerated rapidly.
WollettePay is positioned as a response to longstanding limitations in current Open Banking solutions, many of which require multi-step processes and do not consistently deliver on speed or user experience. The platform is scheduled for release in the UK in the fourth quarter of 2025, with a wider European rollout expected in early 2026.
Across the EU, operational resilience, real-time payments, and the steady rollout of the Markets in Crypto-Assets Regulation (MiCA) are redefining compliance baselines for digital finance. Globally, preparations for central bank digitalcurrencies and evolving open finance frameworks signal longer-term structural change.
The process of designing a multi-polar international monetary system is expected to help strengthen policy constraints on sovereign currency countries, improve the resilience of the system, and optimise safeguards for global financial stability.
Mastercard and Fiserv aim to connect digital asset platforms Mastercard’s work with Fiserv includes linking the latter’s Digital Asset Platform, which supports bank-issued stablecoins, with the Mastercard Multi-Token Network. This poses a potential challenge to existing card-based revenue models.
Central bank digitalcurrencies (CBDCs) have a lot of potential to uproot the cross-border payments market. RAKBANK has successfully exchanged a remittance using China’s digital Yuan (eCNY) in exchange for the Digital Dirham, the UAE’s CBDC.
Swift, the global financial messaging network, is actively working to incorporate regulated digital assets and currencies onto its platform. Building on a series of successful experiments, Swift is advancing efforts to create practical solutions that will enable its members to transact seamlessly with digital assets.
In recent years, digitalcurrencies 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.
Reltime , a leading innovator in blockchain and Web3 technology, is thrilled to announce the launch of its state-of-the-art Global Payment Gateway (GW), designed to empower merchants and shops worldwide to accept payments from all popular digitalcurrencies. Digital USD/EUR, Bitcoin, Ethereum, etc.
Efforts were also made to advance digital assets, tokenization and central bank digitalcurrency (CBDC) experimentation with initiatives such as Project Guardian and Project Orchid expanding to include more use cases and moving towards “live” pilots.
This project aims to create a multi-central bank digitalcurrency (CBDC) platform for instant cross-border payments and settlements, leveraging distributed ledger technology (DLT). The platform now invites further international participation and private sector proposals for value-added solutions.
The region is leading the way with initiatives such as real-time cross-border payment linkages and the exploration of multi-central bank digitalcurrency (CBDC) settlements.
We have been working with governments on what is called central bank digitalcurrency, or CBDC. I think that is another great example where we do over 150 currencies on the network today. So, we have prototyped things like “how do you settle in a stablecoin versus a traditional fiat currency”.
Combined with Alpaca’s regulatory licensing and infrastructure, the partnership is set to deliver a frictionless, secure, and full-service solution for multi-asset trading that enables clients to integrate equities and crypto into their apps with minimal engineering effort.
Bank Indonesia has announced the successful completion of the Proof of Concept (PoC) for the wholesale Rupiah Digital under its Garuda Project. This marks a critical milestone in the exploration of a Central Bank DigitalCurrency (CBDC).
The BoMs announcement of a pilot rollout for a Digital Rupee, a central bank digitalcurrency (CBDC), marks a significant milestone in Mauritiuss digital evolution.
Firms that support currency exchange as part of their payment services to consumers or microenterprises should review their customer disclosures in light of Consumer Duty requirements. T+1 also raises challenges around funding and liquidity management, especially for cross-border trades involving time zone differences or currency conversions.
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