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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. Each platform exhibited distinct strengths.
This partnership aims to enhance stablecoin liquiditymanagement in cross-border payments. By utilising USDC, Thunes aims to reduce capital costs and improve liquidity for its network participants. Global payments network Thunes has announced a collaboration with Circle , the issuer of regulated stablecoins USDC and EURC.
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.
These services will include: Global bank accounts for Wirex: Supporting the company’s global expansion by optimizing treasury operations and enabling more seamless management of fiat and digitalcurrencies.
This marks the first time a banking technology provider in the region has natively integrated USDC, aiming to bridge digitalcurrencies and traditional financial systems.
Looking to harness this potential, the Hong Kong Monetary Authority (HKMA) launched ‘Project Ensemble’ in March earlier this year, a wholesale central bank digitalcurrency (wCBDC) project, to support the development of the tokenisation market in the region.
The Practicalities of Cross-Border Payments in a Faster Payments World also highlights the challenges faced by fintech companies, providing insights into regulatory compliance, security, foreign exchange rate risks, lack of transparency, high costs, interoperability, data privacy, competition with financial institutions, and liquiditymanagement.
Collateral & liquiditymanagement The $16 trillion global repo and collateral market suffers from fragmented settlement processes and slow asset mobility. With tokenisation, banks can realise significant savings through on-chain collateral pledging, real-time transfers and smart contract-based margin management.
That means opportunities to wield real-time payments for liquiditymanagement, while the payment rails that facilitate real-time transactions are also embracing the movement of data that can be especially valuable to business end users, he said.
As shoppers continue to move to digital channels, merchants’ chief financial officers and treasurers won’t only be tasked with ensuring consumers’ online payment demands are met. Why The Pandemic Is a ‘Black Swan’ That Will Spur Payments M&A.
In the new world of borderless transactions, investing the time and technology in improving the cross-border payment experience will be critical to not only frictionless payments but also growth, liquiditymanagement and risk mitigation.”
Financial institutions require 24/7 connectivity, real-time settlement and liquiditymanagement, customer interfaces, and fraud mitigation tools to prepare their underlying systems for instant payments.
Bank Indonesia has announced the successful completion of the Proof of Concept (PoC) for the wholesale Rupiah Digital under its Garuda Project. This marks a critical milestone in the exploration of a Central Bank DigitalCurrency (CBDC).
Regulated stablecoins may offer faster settlement times, improved liquiditymanagement, and operational efficiency, especially in B2B contexts or international transfers. First, firms should assess whether stablecoins could enhance treasury or settlement operationsparticularly in cross-border flows.
This includes evaluating infrastructure models, privacy standards, and use cases in collaboration with technology providers and payment firms through the Digital Pound Lab. T+1 also raises challenges around funding and liquiditymanagement, especially for cross-border trades involving time zone differences or currency conversions.
During the Biden Administration, the US Federal Reserve (the Fed) explored plans for Project Cedar, an early-stage framework for a potential central bank digitalcurrency (CBDC). These views highlight the political divisions shaping the debate over the future of digitalcurrency in the United States.
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