article thumbnail

Fed Exploring ‘Hypothetical’ Digital Currency

PYMNTS

A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Legal issues include whether a CBDC would have status as legal tender.

article thumbnail

Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars

PYMNTS

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.

CBDC 107
Insiders

Sign Up for our Newsletter

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

article thumbnail

Strategic agreement between EPI and EuroPA: building a unified European digital payments network

Finextra

These solutions are already widely adopted and focus on enabling technical interoperability between existing mobile wallets, offering fast and integrated payment experiences within their local banking ecosystems. Wero enables instant, account-to-account (A2A) payments without relying on traditional card networks.

article thumbnail

Fed, Central Banks Frame Criteria For Digital Currency

PYMNTS

Cunliffe also told Reuters that he did not think any single approach to a central bank digital currency (CBDC) would end up being the dominating force. “I The Fed also launched an instant payment initiative in August. I don’t think this is a race between central banks,” Cunliffe said.

article thumbnail

Unzer rolls out with Wero from EPI

The Paypers

Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | Cross Border Ecommerce Research | Company Database | Events News Unzer rolls out with Wero from EPI Tuesday 17 June 2025 13:22 CET | News Unzer , a payment platform for SMEs in Germany, Austria, and beyond, has partnered with the European Payments Initiative (EPI).

CBDC 36
article thumbnail

Open Banking Focus: New Opportunities on the Ancient Silk Road

Open Banking Excellence

We have an Open Banking and Open Finance movement already, as well as CBDC concepts moving to the pilot stage. We have APIs that handle aggregation of current accounts and payment initiation. Our strategic direction is towards becoming a place for experimentation within the region. Additionally, we have an API called eKYC.

article thumbnail

50 Fintech Buzzwords Explained

M2P Fintech

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.

FinTech 59