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Indonesia has reached a significant milestone in its journey toward exploring the potential of Central Bank DigitalCurrencies (CBDCs) with the completion of the Proof of Concept (PoC) for the wholesale Digital Rupiah under the auspices of Bank Indonesias Project Garuda.
America Biometric Payments 2 Global, especially mobile-first markets Cash Payments 5 Emerging Markets, some developed regions Central Bank DigitalCurrencies (CBDCs) 1 Asia, Caribbean Credit Cards Overview : Credit cards allow consumers to make purchases on credit, paying later and often with interest.
James Hurren explores what early CBDC deployments across Asia, the Caribbean, and Europe reveal about usage, adoption, and the future of cross-border digital money. Central bank digitalcurrencies (CBDCs) have rapidly evolved from theoretical concepts into live pilots and national deployments.
Over 350 million adults in Africa live on a cash-only basis ( [link] ), without access to financial accounts, credit cards, or lending facilities. Digitalcurrency systems could prove to be key in improving financialinclusion and opening up new opportunities to large underbanked communities in many African countries.
RLUSD is ideal for financialusecases and allows institutions to: Facilitate instant settlement of cross-border payments. RLUSD is available on both the XRP Ledger and Ethereum blockchains, offering flexibility and scalability for various financialusecases.
Will Marwick CEO, IFX Payments The Payments Report 2024 highlights the growing impact of digitalcurrencies, particularly stablecoins, as transformative payment solutions. The report notes how stablecoins, supported by regulatory developments, are driving advancements in digital commerce and cross-border transactions.
Driving development and inclusion The digital payment market in the country continues to grow, driven by the use of PromptPay, which was developed by NITMX and built on Mastercard’s RTP technology. The solution was launched eight years ago and has seen rapid adoption, with a 13% YoY increase in transaction value.
The experiment was carried out in partnership with Thales, Secretarium, and Consult Hyperion, demonstrating both the technical plausibility and the layered complexities of enabling a central bank digitalcurrency (CBDC) to function without internet connectivity. For payments leaders, the findings are not simply a technical footnote.
This enables rapid scaling of new payment usecases, without duplicating risk exposure. This is what distinguishes tokenisation from being solely a security measure: its enabling of cross-border capital flows, fractional ownership models, and financialinclusion.
By collaborating with enza, Mastercard seeks to enable fintech companies in Africa to deploy embedded payment capabilities more efficiently, thus fostering financialinclusion and supporting the region’s digital transformation. billion mobile wallets globally.
The launch comes as stablecoins emerge as key tools in global finance, offering real-time settlement, reduced costs, and increased accessibility for cross-border payments, especially in hard-to-reach markets that still face challenges with correspondent bank networks and financialinclusion.
Following this announcement, the collaboration will allow Ualá to accelerate credit approvals by up to 10% through the use of the IMSS employment data that is integrated by Belvo. In addition, the deal launches in a context where financialinclusion still faces significant challenges.
The FATF also strengthened its Recommendation 1 earlier in 2025 to encourage countries to promote financialinclusion and to reinforce the expectation that AML, CFT, and CPF controls have to be implemented through a proportionate and risk-based process.
The idea that digital assets are exclusively some form of currency has been slowly dispelled, as new usecases emerge and are rapidly adopted across the globe. But digitalcurrencies are far from irrelevant. CBDCs could offer the potential for more cost-effective international transactions.
The race toward central bank digitalcurrencies (CBDCs) is tightening, with Brazil reportedly looking to launch one by 2022 in a bid to help digitize payments. Roberto Campos Neto, president of Brazil’s central bank, said his country’s new digitalcurrency will work in concert with its new instant-payments system. “To
Walmart has filed a patent application for a digitalcurrency that, like Facebook's Libra, would be a stablecoin backed by traditional currencies. And it envisions a very specific usecase where its coin could stand in for cash — or even for a bank account.
The introduction of a token-based solution such as G+D Filia® Unplugged not only strengthens payment resilience but also has the potential to drive financialinclusion for nearly 1.4 It provides another convenient and secure method for people to make digital transactions without the need for expensive devices like smartphones.
SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, and Giesecke+Devrient (G+D) successfully completed a proof-of-concept (PoC) on the Universal Digital Payments Network (UDPN). Central Bank DigitalCurrencies must therefore be able to work together quickly, easily and securely across national borders.
Central bank digital coins on the Continent – but plenty of room for cash. To that end, Bloomberg reported at least some financial regulators from the European Union say there need to be strict controls governing central bank digitalcurrencies in place — and Libra (among other private efforts) may present a threat to financial stability.
And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the usecases to get there. Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digitalcurrency.
Since 2009, the financial landscape has been undergoing a transformation with the emergence of cryptocurrencies. As digitalcurrencies grow in popularity , merchants around the world are exploring the potential benefits of accepting payments in cryptocurrency. This is covered in the below section. What are Stablecoins?
This vision for the next iteration of the Internet—one powered by blockchains that enable direct, automated and trusted interactions—can be seen across a range of growing usecases and is being put into practice by startups and traditional financial companies alike. Leading companies in this sector have been pivotal.
3 Programmable Money: Advancing FinancialInclusion or Creating Walled Gardens, Powered by J.P. The discussion will cover key aspects such as the impact on cross-border payments, liquidity funding needs, and the broader implications for financialinclusion and the global movement of money.
Banco do Brasil reinforces its pioneering commitment to financialinclusion technologies and takes an important step towards making offline payment with digital money a reality in Brazil. This would give the population a complement to cash, allowing them to pay digitally and securely without having a bank account.
. “Together with Bitpanda, we are confident in our ability to offer European users a stable, secure, and accessible digitalcurrency.” ” The listing of EURCV on Bitpanda’s platform will not only help in its adoption but also in expanding its usecases across Europe.
Day 2 featured discussions on small business empowerment, consumer financial resilience, and lending strategies in Thailand. Other sessions also delved into key trends and issues shaping the global payment landscape, including open banking in Europe, the QR code revolution in Asia as well as the US’s card dominance.
Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published its latest research report, titled The Practicalities of Cross-Border Payments in a Faster Payments World. The post U.S.
3 Programmable Money: Advancing FinancialInclusion or Creating Walled Gardens, Powered by J.P. The discussion will cover key aspects such as the impact on cross-border payments, liquidity funding needs, and the broader implications for financialinclusion and the global movement of money.
However, there is slight shift these days as Asian markets are now embracing stablecoins that are linked to their own respective local currencies. This trend highlights efforts to enhance monetary sovereignty, boost financialinclusion, and modernise payment systems in an increasingly digital world.
Stablecoins have been rising in conversation within the financial ecosystem of Singapore. As the name implies, stablecoins are digital assets designed to maintain a stable value relative to a reference asset, such as the US Dollar or gold.
And given the nature of the open source licensing protocol, potential forking by others to support global usecases that also use the Libra currency. At PayPal, we believe in democratizing participation in the digital economy for people from all walks of life and businesses of all sizes.
While 134 countries and currency unions, representing 98 per cent of global GDP, are currently exploring a central bank digitalcurrency (CBDC), the Bank of Canada has revealed it is officially putting efforts to introduce a digital version of the Canadian dollar on pause.
With Filia Unplugged, we are helping to bridge this gap,” explained Raoul Herborg , managing director of Central Bank DigitalCurrency ( CBDC ) at G+D. ” In today’s digital-first economy, connectivity pain points can cause serious issues.
The figure represents a notable decrease from the record-breaking of US$45 billion witnessed in H1 2022. At the same time, industry stakeholders showed interest in AI, with both investors and corporates looking for ways to leverage AI-generated content within fintech usecases, especially in marketing and customer engagement functions.
The show will also address key industry themes such as financialinclusion, sustainability, cybersecurity, and regulatory frameworks. 360 Madison in New York, will explore unique insights and technical usecases from AI specialists and data scientists within the banking, financial services and insurance (BFSI) sector.
“Some will choose to go down the path of becoming a fully digital bank through a virtual bank license, but I would say we will see many more of the mobile carriers going down the path of partnerships, because it will reduce the amount of investment they would need to make in order to have that expansion of mobile payments,” Switt explained.
“These include the ability to collect recurring real-time payments across every usecase, full coverage across banks and a great user experience.” So what does the fintech industry think? “Clarifying the law and regulations around these innovations will be key to promoting more jobs and growth within the British economy.
. ‘Connecting for Change: MUFG’s Strategy for Fintech Integration’ at Money 20/20 Asia in Bangkok, Thailand On the agenda During the morning’s activities on the Vision stage, a keynote session led by Daranee Saeju , assistant governor, payment systems policy and financial consumer protection group from the Bank of Thailand, highlighted (..)
Fintech can drive financialinclusion, support businesses and grow our economy.” He explained: “The taskforce will craft a clear set of recommendations, pinpointing the datasets of commercial incentives necessary to drive forward CFIT ’s SME lending usecase for open finance.” That is over $40billion.
Even in India, where demonetization has pushed an incredible number of payments (particularly small transactions) to digital, Agashe said he believes there’s no future in the cards where cash completely disappears. I think checks are declining and are going to be replaced by digital payments,” Agashe said. “[But]
“As a result, traditional banks will face even more competition from digital disruptors, driving strategic fintech partnerships to keep pace with the evolving needs of their customers. Beyond traditional remittance services, we can also expect new usecases for real-time global payments to continue to emerge 2024.
It seems an even bigger one to ask those consumers to download another app inside Messenger – Calibra – for the sole purpose of sending Libra currency via a Calibra digital wallet to friends, with no other usecases in sight for a very long time. It just doesn’t click.
billion people around the world that at present to not have access to bank accounts, and where digital coins promise a measure of financialinclusion. Various officials in Germany and France have cited Libra as a threat to “monetary sovereignty” and thus should be stopped.
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