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Will Central Bank Digital Currencies (CBDCs) Impact Cross-Border Payments in 2024?

The Fintech Times

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. With so many countries looking towards centralised digital assets, we set out to find out how these would impact the cross-border payments market.

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Bitcoin Daily: OMFIF Debuts Digital Monetary Institute; Chinese Leaders Back Regional Digital Currency Plan

PYMNTS

The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces. 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. .

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Bitcoin Daily: Chinese Leaders Back Regional Digital Currency Plan

PYMNTS

The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces. 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. .

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UBS Leads New Blockchain Settlement Group

PYMNTS

UBS and its cohorts are not alone in pursuing blockchain-based solutions to the problem of cross-border settlement. The bank also launched a blockchain-based information-sharing platform called the Interbank Information Network in 2018 that as of today has over 250 members. Earlier this year, JPMorgan Chase & Co.

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The Fed’s crypto pivot: Unlocking banking access and its impact on payments

The Payments Association

Banks and regulators will determine how this policy is applied, shaping future access to payments infrastructure for crypto firms. 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). What comes next?