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Key considerations for the adoption of digital currencies

Finextra

Central banks across 66 countries are now in the advanced phases of exploring Central Bank Digital Currencies (CBDCs), with 44 pilots including the digital euro already underway. But digital currencies do not stand on their own. Digital currencies can be issued by central banks (aka. billion in April.

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BOE: Banks Don't Get Protection From Digital Currencies

PYMNTS

Bank of England Deputy Governor Jon Cunliffe said it isn't his job to shield banks from the coming shift to digital currencies, Reuters reported. Andrew Bailey , governor of the BoE, said over the summer that the BoE is closely examining how the idea of a digital currency would work.

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Bank Of England Hires Accenture To Revamp Payments System With Eye On Digital Currency

PYMNTS

s central bank announced on Thursday (July 30) that it has hired IT firm Accenture to revamp and modernize what is known as the Real-Time Gross Settlement (RTGS) service, which handles daily transactions worth more than $895 million between large financial institutions (FIs).

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The Corporates Betting On Blockchain To Reshape Capital Markets Infrastructure

CB Insights

Payments: This category includes companies working on tech like payment currencies, stablecoins (cryptocurrency pegged to the value of a non-volatile asset like the dollar), and real-time gross settlement (RTGS) systems that can enable transactions within a DLT-based capital markets framework.

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Real Time Heats Up In B2B, While Blockchain Gains Traction

PYMNTS

Financial institutions (FIs) are increasingly automatically routing transactions that would have once been moved via the Bulk Electronic Clearing System (BECS) Direct Entry to NPP, while businesses are replacing real-time gross settlement (RTGS) transactions with NPP as well, the report noted.

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The Journey of Payments and Clearing Systems in India

Finextra

Real-Time Gross Settlement (RTGS) (2004): A major leap forward, establishing a robust system for large-value, real-time interbank fund transfers, enhancing systemic efficiency and reducing settlement risk. This was a step towards automated recurring payments.

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In The Blockchain Race, FIs Hustle Not To Come In Last

PYMNTS

The Bank of England caught the financial services world’s attention when its Governor, Mark Carney, spoke about the central bank’s latest initiative to revamp and rebuild its real-time gross settlement (RTGS) system.