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Digital Rupiah Inches Closer with Successful Completion of PoC

Fintech News

Indonesia has reached a significant milestone in its journey toward exploring the potential of Central Bank Digital Currencies (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.

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Thunes and Circle to Facilitate Faster Cross-Border Payments with USDC Stablecoin

Fintech News

This partnership aims to enhance stablecoin liquidity management 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.

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SC Ventures and G+D Complete Pilot on Different Types of CBDC Systems

Fintech News

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 Digital Currencies must therefore be able to work together quickly, easily and securely across national borders.

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Wirex Works with Banking Circle to Revolutionize Global Financial Operations

Fintech Finance

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 digital currencies.

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USDC Stablecoin Integrated into Core Banking by Matera and Circle

Trade Credit & Liquidity Management

This marks the first time a banking technology provider in the region has natively integrated USDC, aiming to bridge digital currencies and traditional financial systems.

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Project Ensemble: Hong Kong Embraces Asset Tokenisation With New Sandbox

The Fintech Times

Looking to harness this potential, the Hong Kong Monetary Authority (HKMA) launched ‘Project Ensemble’ in March earlier this year, a wholesale central bank digital currency (wCBDC) project, to support the development of the tokenisation market in the region.

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U.S. Faster Payments Council Explores the Practicalities of Cross-Border Payments in a Faster Payments World

Fintech Finance

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 liquidity management.