This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Mastercard has announced a new virtual testing platform for Central Bank DigitalCurrencies (CBDCs). Mastercard’s testing platform allows banks to simulate the issuance, distribution and exchange of CBDCs between banks, financial serviceproviders and consumers. In a Wednesday (Sept.
As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digitalcurrencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker. With so many countries looking towards centralised digital assets, we set out to find out how these would impact the cross-border payments market.
A micro-financial servicesprovider in the Philippines, Cebuana Lhuillier brings an extensive network of 3,500 branches and 25,000 partner agents to the partnership. ” said Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and DigitalCurrencies, PayPal.
The Central Bank of the Bahamas is planning to start a rollout of its new digitalcurrency on Friday (Dec. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release. The intent is to start a fully-fledged central bank digitalcurrency (CBDC). 27) in Exuma.
The Money-Changing License will enable businesses to conduct money-changing services; the Standard Payment Institution License allows them to conduct multiple payment services below specified thresholds, and the Major Payment Institution License allows businesses to conduct multiple payment services without any transaction volume or float limits.
Triple-A is a digitalcurrency payment institution that allows businesses to pay and get paid in both traditional and digitalcurrencies, volatility-free. Triple-A is another Singaporean company included in FXC Intelligence’s Global Most Promising Cross-Border Payments Companies 2024 list.
Merge, a London-based fintech, has received approval from French regulators to operate as both an electronic money institution (EMI) and a virtual asset serviceprovider (VASP).
Looking to bridge the world of fiat and digitalcurrencies, Fipto , a blockchain-based payment infrastructure, is looking to make it easier for firms to integrate stablecoins and optimise existing global payment flows using blockchain. The firm is also a licensed Virtual Asset ServiceProvider (VASP) in Luxembourg.
“This milestone is part of joint efforts to enhance digital payment solutions and develop a smart, secure, and seamless transportation experience.” AE Coin is pegged at a fixed rate of 1 AED = 1 AEC, ensuring strong financial stability and building trust in digitalcurrency usage,” add the partners.
You also need a payment servicesprovider that supports your chosen payment methods, but that providers platform must integrate seamlessly with your existing CRM, ERP, payroll, CMS, and accounting software systems. Digitalcurrencies are instead based on a decentralized system and no single entity controls their supply.
The network aims to enable faster, lower-cost international money transfers by utilizing stablecoins such as USDC, EURC, and other regulated digitalcurrencies for real-time settlement between participants like banks, payment providers, virtual asset serviceproviders, and digital wallets.
This article will show all you need to know about online credit card processing and how you can select the best payment servicesprovider for your needs. You will receive your payment in full, while the customer will repay the loan in interest-free installments (but there are associated fees) to the credit provider.
In Singapore, the central bank strengthened in 2024 the Payment Services Act (PSA), introducing more stringent requirements for crypto serviceproviders relating to AML/CFT, user protection and financial stability on serviceproviders. million out of 560 million crypto owners worldwide.
Bybit , the world’s second-largest cryptocurrency exchange by trading volume, has been granted a Provisional Approval for Virtual Asset ServiceProvider (VASP) licence for virtual asset exchange services from Dubai’s Virtual Assets Regulatory Authority (VARA).
Home News Crypto Coinbase launches stablecoin payments service Editorial This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
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.
Additionally, central bank digitalcurrencies (CBDCs) are now a key trend, with initiatives such as Project Orchid in Singapore, the Digital Rupiah in Indonesia, and a retail CBDC project being piloted in Thailand. Artificial intelligence (AI) is also gaining traction, particularly for risk assessment and operational efficiency.
The Banque de France is seeking applications “to experiment with a central bank digitalcurrency for interbank settlements,” according to an announcement from the French central bank. ” The submission deadline for digital applications is May 15.
Liv , the UAE-based digital bank launched by Emirates NBD , has launched a new crypto offering, enabling customers to trade cryptocurrencies within its mobile banking app.
Crypto payment servicesprovider BitPay has unveiled a new mass payout offering, BitPay Send, which lets entities of different sizes make payments to workers, clients, affiliates, suppliers, contractors and others with digitalcurrency, according to a Thursday (Nov. 12) announcement.
“A bank providingservices in support of a stablecoin project must comply with all applicable laws and regulations and must ensure that it has instituted appropriate controls and conducted sufficient due diligence commensurate with the risks associated with maintaining a relationship with a stablecoin issuer,” Gould wrote. .
It fosters an ecosystem of issuers, investors, and serviceproviders to promote liquidity, accessibility, and capital efficiency. “We are committed to fostering transparency, compliance, as well as security in the digitalcurrency space.”
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.
1 The Opinion provides supervisory guidance to EU national competent authorities (NCAs) on the application of PSD2 to CASPs and recommendations for longer-term legislative alignment under the upcoming third EU Payment Services Directive (PSD3) and the accompanying EU Payment Services Regulation (PSR).
New payments infrastructure continues to gain traction with financial serviceproviders looking to modernize their services for business clients. Emerging payment rails and digitalcurrencies often tout security as a key value-added differentiator over legacy payment rails. In the U.S.,
The newly formed Command Ridge Virtual Asset Authority (CRVAA) will supervise the licensing of crypto serviceproviders operating within or from the country. The move is part of a strategy to formalise oversight of the growing crypto sector.
Mastercard Leads Central Bank DigitalCurrency Test. Mastercard is one of them: Last week, the company announced the development of a virtual testing platform built for central bank digitalcurrencies (CBDCs), as more governments around the world have announced plans to explore state-backed crypto.
billion digital asset, Web3 WeLab 1 billion digital banking, lending Micro Connect 1.7 billion alternative SME financing, investment ZA Group 1 billion digital banking, Web3 HashKey Group Valuation: $1.3 billion HashKey Group is a digital asset financial servicesprovider. billion digital payments PayU 5.2
The Euro Banking Association (EBA) announced Monday (May 22) that it issued a new information paper looking at benefits and uses cases of digitalcurrencies for international payments and correspondent banking practices.
Gnosis Pay , the company building the rails for the next generation of banking, today announces a new partnership with Visa , a world leader in digital payments, that will help broaden the use of digitalcurrencies in everyday payment settings.
Dual authorisation requirements Subject to a transitional period until 1 March 2026, the EBA’s view is that certain MiCA services will constitute payment services when carried on concerning EMTs.
PayPal USD was created with the intent to revolutionize commerce again by providing a fast, easy, and inexpensive payment method for the next evolution of the digital economy,” said PayPal Senior Vice President of the Blockchain, Cryptocurrency, and DigitalCurrency Group Jose Fernandez da Ponte.
When onboarding new serviceproviders, fintechs, or merchant partners, a token-based architecture allows for quicker, cleaner integration by decoupling sensitive data from transaction logic. Token frameworks can also accelerate partner integration. This enables rapid scaling of new payment use cases, without duplicating risk exposure.
In the heart of Southeast Asia, a small island nation is making giant strides in digitalcurrencies. percent of its population owning digital assets, the city-state isn’t just participating in the crypto revolution—it’s leading it. These services include the buying, selling, or facilitating the exchange of DPTs.
The Bank for International Settlements (BIS) has launched Project Rialto to test the potential for improving instant cross-border payments through a combination of a modular foreign exchange (FX) component and wholesale central bank digitalcurrencies (wCBDC).
Lloyd’s of London , the insurance firm, is supporting a new policy that protects digitalcurrency held in digital wallets from hackers, Coindesk reported on Monday (March 2). The policy is reportedly a new insurance type that has a limit that changes with the price fluctuations of covered digitalcurrency assets.
The flaws in prevailing central bank digitalcurrency (CBDC) designs and suggestions for improving them. These design flaws could undermine efforts to create a public digital payments system for the future economy. What is this article about? Why is it important? What’s next? But the damage was done.
Gilded , an US-based payment serviceprovider, has announced the launch of a digitalcurrency payment solution together with crypto data provider CoinMarketCap.
The stage may even be set for the emergence of digitalcurrencies, and as Circle’s Allaire said digital dollars (with 500 percent growth through the past several months), among others, have “really started to become not just a technical reality, but a legal and regulatory reality as well.”.
Offline payment functionality offers benefits for all stakeholders in the financial industry As a BIS study from 2023 underlines, offline functionality is also a necessity for a Central Bank DigitalCurrency (CBDC), which is currently being explored by numerous central banks worldwide.
Enterprise blockchain serviceprovider Ripple on Thursday (Oct. 8) announced a beta offering called Line of Credit that it says lets its FinTech customers use the XRP digitalcurrency to send cross-border payments. The service is not available to individuals.
The MiCA regulation aims to foster the use of innovative technologies by setting a regulatory framework that covers crypto-assets (including stablecoins), crypto-assets issuers and crypto-asset serviceproviders to protect the rights of holders in the EU. As an EU regulation, it is directly applicable to all 27 EU member states.
BVNK , the stablecoin payments provider, announced today that it has enabled Swift payments on its platform, so businesses can move easily between US dollars, Euros and stablecoins like USDT, USDC and PYUSD. BVNK offers the perfect pathway from our PSPs to our banks, saving us valuable time and money.
Merge , a London-based fintech, has activated its Electronic Money Institution (EMI) licence and Virtual Asset ServiceProvider (VASP) registration. This marks a major milestone in its mission to modernise global payments.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content