Mastercard demonstrates CBDC interoperability for Web3 commerce
The Paypers
OCTOBER 12, 2023
Global payments technology company Mastercard has revealed that it demonstrated CBDC interoperability for trusted Web3 commerce in Australia.
How OpenWay’s Way4 Enabled the First CBDC Card Transaction in Eurasia
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. However, a significant shift has occurred with the launch of Eurasia’s first CBDC cards in Kazakhstan, providing 20 million consumers with a new, tangible way to manage CBDC funds.
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Swift’s Sandbox Connector Trial Shows Promise in CBDC Development
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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SC Ventures and G+D Complete Pilot on Different Types of CBDC Systems
Fintech News
DECEMBER 11, 2023
This PoC involved executing real-time cross-border test transactions between various Central Bank Digital Currency (CBDC) systems. The project tested the feasibility of conducting multilateral cross-currency transfers through the UDPN, involving both Distributed Ledger Technology (DLT) and non-DLT-based CBDC technologies.
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Swift Works on Enabling Real-Time Exchange of Digital Assets and Payments
Fintech News
SEPTEMBER 11, 2024
Its blockchain interoperability experiments have demonstrated that Swift’s infrastructure can support the transfer of tokenized value across both public and private blockchains. These efforts aim to bridge traditional and digital financial systems.
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Will Central Bank Digital Currencies (CBDCs) Impact Cross-Border Payments in 2024?
The Fintech Times
FEBRUARY 26, 2024
As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digital currencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker. “There are some fundamental risks inherent in using CBDCs.
Bahamas Launches Digital Sand Dollar; Adds To Rise Of Central Bank Digital Currencies
PYMNTS
DECEMBER 18, 2020
In other CBDC efforts, as reported in the fall , China’s central bank issued 10 million yuan ($1.5 Such central bank efforts toward CBDC might soon get a helping hand. This week, FinTech EMTECH said it’s launching a compliance platform in collaboration with Microsoft to help central banks test their respective CBDCs.
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YES BANK is live with UPI interoperability on CBDC
The Paypers
SEPTEMBER 1, 2023
India-based YES BANK has gone live with Unified Payments Interface (UPI) interoperability on the Reserve Bank of India (RBI) Central Bank Digital Currency (CBDC) app.
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Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars
PYMNTS
AUGUST 21, 2020
As many as 80 percent of the 66 central banks polled by the Bank of International Settlements said they were at some stage of CBDC development. China has been at the forefront of those efforts, at least as measured in terms of debuting an actual CBDC, and is in the midst of testing its digital yuan in various settings.
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Mersch: ECB Will Focus On ‘Game Changer’ Retail CBDC
PYMNTS
MAY 11, 2020
Speaking at a virtual conference about the future of money, European Central Bank (ECB) executive board member Yves Mersch said a retail central bank digital currency (CBDC) is a game-changer. “A However, a retail CBDC, accessible to all, would be a game-changer, so a retail CBDC is now our main focus.”.
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Open Banking Focus: New Opportunities on the Ancient Silk Road
Open Banking Excellence
MAY 2, 2024
We have an Open Banking and Open Finance movement already, as well as CBDC concepts moving to the pilot stage. Interoperability and international expansion A key strategic outcome from all our activities in this space is to drive the creation of business models which are scalable outside of Georgia.
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Bank Of France Gov Says Central Banks Should Control Crypto
PYMNTS
JANUARY 26, 2020
Some central banks are banding together to form a group that will study ways and means of issuing central bank digital currencies (CBDC), according to a release by the Bank of England on Jan.
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The Lures – And Challenges – Of Central Bank Digital Currencies
PYMNTS
OCTOBER 9, 2020
The idea of a “general purpose” central bank digital currency ( CBDC ) is one that would transcend use cases, exchanges and piecemeal methods where, for example, (tangible) fiat on one side of a transaction is rendered into a digital form and then reconfigured to fiat on the other side of the process. Fed, the Swiss National Bank and others.
Brazil Could Lead The Way On Central Bank Digital Currencies With 2022 Rollout
PYMNTS
SEPTEMBER 8, 2020
To have a digital currency, you need an instant payment system that is efficient and interoperable; an open system where you can create competition; and a currency that has credibility, is convertible and international,” he said, as per local media. Digital wallets that use QR codes will be interoperable with the system.
How are digital IDs reshaping industries for a secure and seamless future?
The Payments Association
JANUARY 22, 2025
Additionally, standardisation of digital IDs is required to ensure they are interoperable with TSA systems. Across the industry, well need to see collaboration for secure, interoperable solutions that meet global standards. Security does allow passengers to opt out of any biometric identification.
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Fintech in Singapore: 2023 in Review
Fintech News
DECEMBER 20, 2023
Developments include cross-border quick response (QR) payment linkages, connectivity between real-time national payment schemes, and the ongoing Singapore Response Code Scheme (SGQR+) project focusing on furthering QR code payment interoperability.
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FinovateEurope 2025: From Interesting Takes to Hot Demos
The Fintech Times
FEBRUARY 28, 2025
With the digital asset market projected to reach $16trillion by 2030, he warned about the risks of digital islands isolated token ecosystems lacking interoperability. Additionally, he focused on how the rise of central bank digital currencies (CBDCs) is a hot topic, with 44 jurisdictions actively piloting their own digital currencies.
FPC 2023 Spring Member Meeting
Faster Payments Council
MARCH 15, 2023
Whether we will see these services gain traction is tied to what many believe to be a major hurdle–interoperability. FedNow may not interoperate with RTP, and it doesn't seem to be a priority for either. Some banks may not be able to connect to both. These projects are taking different implementation approaches.
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Swift Sets Industry Up for Seamless Introduction of CBDCs for Cross-Border Transactions as Interlinking Solution Finds More Use Cases
Fintech Finance
MARCH 26, 2024
Interoperability is critical to Swift’s strategy for instant and frictionless transactions. The second phase of sandbox testing went further, exploring more complex use cases, using Swift’s solution to connect and orchestrate transactions across simulated digital trade and tokenised asset and FX networks, alongside CBDCs for payments.
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Wallet wars: How digital payments are reshaping finance
The Payments Association
MARCH 19, 2025
The European PSD2 framework, growing pressure on big techs financial ambitions, and central bank digital currency (CBDC) discussions all indicate a looming regulatory crackdown. Digital wallets are expanding faster than financial oversight can keep up, forcing governments to scramble for new safeguards without choking innovation.
How Digital Assets Could Reshape The Future Of Corporate Treasury
PYMNTS
JANUARY 28, 2021
The recent acceleration of central banks’ exploration and development of central bank digital currencies (CBDCs) only adds greater legitimacy to the technology, with Sully pointing to cross-border payments as one of the biggest areas of CBDC disruption — although, he acknowledged, the true impact of this tool is not yet understood.
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Project mBridge Reaches MVP Stage, Expands International Participation
The Fintech Times
JUNE 6, 2024
This project aims to create a multi-central bank digital currency (CBDC) platform for instant cross-border payments and settlements, leveraging distributed ledger technology (DLT). Several commercial banks have already started using the mBridge platform to facilitate cross-border CBDC payments among participating jurisdictions.
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U.S. Faster Payments Council Explores the Practicalities of Cross-Border Payments in a Faster Payments World
Fintech Finance
JANUARY 11, 2024
The Practicalities of Cross-Border Payments in a Faster Payments World also highlights the challenges faced by fintech companies, providing insights into regulatory compliance, security, foreign exchange rate risks, lack of transparency, high costs, interoperability, data privacy, competition with financial institutions, and liquidity management.
Bank Of England Hires Accenture To Revamp Payments System With Eye On Digital Currency
PYMNTS
JULY 30, 2020
The new system, slated to debut in 2022, will also have the capability to handle a central bank digital currency (CBDC), such as a digital pound, CoinDesk reports. A digital currency could be later layered onto the revamped system if and when the BoE chooses to do so, the news site reported. at the leading edge of payments innovation.”.
Banco Do Brasil Partners With Giesecke+Devrient to Test Offline Payments With DREX
Fintech Finance
MARCH 12, 2024
2 The Central Bank of Brazil plans to launch the CBDC DREX by the end of 2024. With this step, Banco do Brasil with the support of G+D intends to further explore the potential of the DREX platform provided by the Central Bank during the Brazilian CBDC pilot. Only in this way can it be a truly inclusive public digital currency.
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A Merchant Guide for Cryptocurrency Payments
Clearly Payments
JANUARY 4, 2024
Monetary Policy: CBDCs offer central banks improved tools for implementing monetary policy and monitoring economic activity, contributing to more effective financial governance. Privacy Concerns: Addressing concerns about potential surveillance and data privacy implications is essential for gaining public trust in CBDCs.
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Group Effort For Central Banks And Digital Currencies?
PYMNTS
JANUARY 21, 2020
21), at least some of those central banks are banding together to form a group that will study ways and means of issuing central bank digital currencies (CBDC). between banks) done through CBDC. is joining the CBDC fray. But as reported Tuesday (Jan. Federal Reserve is also absent from the roster.
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FPC 2022 Fall Member Meeting
Faster Payments Council
SEPTEMBER 12, 2022
The panel will discuss issues such as security, governance, and interoperability as well as concerns that the U.S. In this session, FPC QR Code work group leaders address the call to action for payment industry standards needed for universal acceptance and interoperability of QR codes.
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Stablecoins in Asia Are Stably Reducing Dependency on USD
Fintech News
DECEMBER 13, 2024
Finally, stablecoins face competition from CBDCs, as many governments prioritise CBDC development over private stablecoins. This creates a competitive landscape for adoption and integration, requiring stablecoin projects to demonstrate their unique value propositions and interoperability with existing and evolving financial systems.
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Addressing the Silent Crisis of Failed Payments
Fintech News
DECEMBER 10, 2023
The impact of CBDCs on payments, financial inclusion, and monetary policy remains an ongoing discussion. Trust, transparency, and interoperability will shape the future of payments, ensuring that financial systems serve the needs of all.
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2024 Might be Full of Central Bank Digital Currency Launches, Know How
CoinRemitter
FEBRUARY 9, 2024
If CBDCs go mainstream, they can dominate the world of digital payments. However, CBDC payments cannot be as anonymous as crypto payments. Central Bank Digital Currency Launches So Far The first CBDC launch happened in 2020, which was DCash by The Central Bank of The Bahama.
Here’s How 10 APAC Markets Are Approaching Crypto Regulation
Fintech News
FEBRUARY 27, 2024
The Reserve Bank of Australia (RBA) also played a crucial role by exploring the concept of retail and wholesale Central Bank Digital Currencies (CBDC) through its eAUD pilot programme , which focused on a wide array of use cases and essential legal aspects. Singapore’s policy framework also accommodates innovation in digital assets.
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50 Fintech Buzzwords Explained
M2P Fintech
MARCH 28, 2024
Central Bank Digital Currency (CBDC) A CBDC represents a nation’s currency in digital form, administered directly by the central bank. Unlike physical cash or bank deposits, CBDCs are purely electronic. As of December 2023, an impressive 130 countries are actively exploring CBDC initiatives.
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SFF 2024 Awards Highlights Fintech Innovation with Updated Categories, New AI Focus
Fintech News
OCTOBER 28, 2024
Finalists in the corporate categories were evaluated based on impact, sustainability, practicality, interoperability, and creativity, while individual submissions were assessed on contributions to the Singapore fintech sector. Four finalists were shortlisted in each category.
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What Is the Top Priority for Firms Looking To Offer Cross-Border Payments?
The Fintech Times
FEBRUARY 19, 2024
“Additionally, central banks are exploring innovative solutions such as CBDC privacy (e.g, BIS Aurum) and interoperability solutions (e.g, Deutsche Bundesbank Trigger Solution).
Bank of Thailand Concludes Retail CBDC Pilot Programme, Reveals Key Findings
Fintech News
MAY 8, 2024
Thailand, under the guidance of the Bank of Thailand (BOT) , has been at the forefront of this movement, continuously studying and testing the feasibility of a Retail CBDC since 2018. The project evolved, incorporating enhanced functionalities, cross-border fund transfers, and a Corporate CBDC Pilot Program.
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Brazil’s Central Bank, Microsoft Brazil, Chainlink and 7COMm Pilot CBDC Trade Finance Solution
The Fintech Times
NOVEMBER 23, 2024
Continuing the second phase of piloting its central bank digital currency (CBDC), Drex, the Central Bank of Brazil (BCB) has selected Brazilian digital bank Banco Inter , Microsoft Brazil , blockchain platform Chainlink , and 7COMm , a decentralised finance-focused firm, to build a trade finance solution.
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Indonesia Completes Rupiah Digital PoC, Advancing Wholesale CBDC Exploration
Fintech News
DECEMBER 15, 2024
This marks a critical milestone in the exploration of a Central Bank Digital Currency (CBDC). The PoC included a range of technical evaluations, such as testing interoperability standards like ISO 20022 for cross-border transactions, and integration methods with existing infrastructures like BI-RTGS.
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MAS to Explore Wholesale CBDC for Settlement Among Series of Tokenisation Plans
Fintech News
NOVEMBER 3, 2024
Access to a common settlement facility is also being facilitated through the SGD Testnet, featuring S$ wholesale central bank digital currency (CBDC) for market testing. Featured image credit: Edited from Freepik The post MAS to Explore Wholesale CBDC for Settlement Among Series of Tokenisation Plans appeared first on Fintech Singapore.
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Digital Rupiah Inches Closer with Successful Completion of PoC
Fintech News
JANUARY 9, 2025
The processes included converting reserve account balances into digital Rupiah and vice versa, ensuring seamless interoperability with Bank Indonesias Real-Time Gross Settlement (BI-RTGS) system. Addressing interoperability, scalability, and security challenges, Indonesia sets a global example for nations exploring similar initiatives.
Universal Digital Payments Network (UDPN) and FORUS Digital Announce Strategic Cooperation to Advance Financial Innovation in Africa
Fintech Finance
NOVEMBER 21, 2024
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. On the African continent, South Africa, Nigeria, Eswatini and Ethiopia have taken the lead.
Monetary Authority of Singapore Unveils Plans to Enable Industry-Wide Adoption of Tokenisation
The Fintech Times
NOVEMBER 4, 2024
Recognising this, MAS is facilitating financial institutions’ access to common settlement assets including S$ wholesale CBDC for market testing purposes. Interoperability – Facilitate linkages with existing financial market infrastructures.
How Swift is moving the global financial industry towards instant and frictionless payments
The Payments Association
JANUARY 15, 2025
Swift drives global interoperability and innovation, aligning with the UK’s National Payments Vision to enhance seamless, secure payments. This is an example of how the scale of the Swift network can be leveraged to interoperate market infrastructures to enhance the user experience.
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What will define payments in 2025?
The Payments Association
DECEMBER 2, 2024
On the other hand, they may disrupt existing payment infrastructures, requiring firms to adapt their systems and develop new strategies to remain relevant in a CBDC-driven world. Cilliers believes the excitement around CBDCs, especially across the Atlantic is justified. “I
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