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Key considerations for the adoption of digital currencies

Finextra

A new way of settling transactions Firstly, when we talk about digital currency we are referring to the registration of a fiat currency (such as the pound) on a Distributed Ledger Technology (DLT)-based network with a 1:1 relationship to the fiat currency. Digital currencies can be issued by central banks (aka.

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France’s Central Bank Latest To Ponder A Digital Currency

PYMNTS

Beau wants to use distributed ledger technology (DLT), and France is considering a central bank digital currency (CBDC). DLT would also help in terms of cross-border payments, he said. He said that “disorderly approaches and heterogeneous adaptations” could happen if the bank didn’t take decisive action.

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 World Bank Sees DLT Potential For Cross-Border Transactions

PYMNTS

At heart of the matter, of course, is the place (or choice) of using distributed ledger technology (DLT) to underpin the transactions — especially B2B transactions. Some see distributed ledger technologies (DLT) as having the potential to drive industry-wide change.

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 Visa B2B Connect Goes Global

PYMNTS

The transactions between businesses are done on an account-to-account basis, as opposed to using the existing correspondent banking network — which, of course, relies on intermediaries.

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Cross-Border Payment Efforts Look To The Blockchain And Beyond

PYMNTS

Some see distributed ledger technologies (DLT) as having the potential to drive industry-wide change. Indeed, B2B cross-border payments , traditionally characterized by fragmentation and opacity, are a potential use case for the successful implementation of DLT,” said the authors in their post.

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5 Top Payment Trends Impacting Asia in 2024

Fintech News

Prototypes and proofs of concept are being developed for payment systems based on distributed ledger technology (DLT). PvP ensures that the final transfer of a payment in one currency only occurs once the corresponding transfer in another currency is completed.

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Why Cross-Border Payments Still Present Challenges

PYMNTS

Some payments providers are also leveraging blockchain and distributed ledger technology (DLT) to meet these needs, expediting the cross-border payment process. This has a direct cost benefit as computing power is used only on the basis of need,” said Nilesh Pathak, chief technical officer at InstaReM.