CBDC Liquidity Management Participant 
Fintech News
JANUARY 9, 2025
The PoC demonstrated the transformative potential of DLT-based systems in improving liquidity management. For example, the observer node feature implemented during the PoC allowed Bank Indonesia to monitor transactions without compromising participants’ confidentiality. Each platform exhibited distinct strengths.
The Payments Association
JULY 18, 2025
Legal issue/risk Next steps/action required Legal issue/risk: CBDC issuance requires primary legislation and parliamentary approval—introducing political and procedural uncertainty. This initiative adopts a platform model, where the Bank issues digital pounds via a central ledger, while private-sector firms offer wallets and payment services.
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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.
The Fintech Times
AUGUST 28, 2024
“The HKMA looks forward to collaborating with the SFC, other central banking institutions, academia, and all relevant industry participants to further drive innovation and progress in the Hong Kong tokenisation market.”
The Payments Association
MARCH 18, 2025
During the Biden Administration, the US Federal Reserve (the Fed) explored plans for Project Cedar, an early-stage framework for a potential central bank digital currency (CBDC). Senator Lee has been among the most vocal opponents of a US CBDC, expressing concerns about potential government overreach. Several large U.S.
The Payments Association
APRIL 14, 2025
Active participation in the consultation process will be key to anticipating the impact and shaping future compliance strategies. Next steps/action required: Participate in upcoming FCA consultations to influence the development of regulations and stay informed about specific requirements. to 1.15% for debit cards and from 0.3%
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