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RT2: A strategic transformation for UK payment providers

The Payments Association

It enhances resilience, broadens access, improves interoperability, and enables innovation, thereby modernising the UK’s financial infrastructure. According to the Bank of England, RTGS settles approximately £500 billion between banks each day—around a quarter of the UK’s annual GDP—in sterling central bank money.

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Announced at Singapore FinTech Festival 2024: New Partnerships, Product Launches and Appointments

The Fintech Times

Ant International is also working with StraitsX to enable the efficiency and interoperability of payments made via PBM through the Whale platform, Ant International’s treasury management solution. As expected, innovations and announcements were rife throughout, here’s a roundup of all the news coming out of the global event.

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

Fintech News

This PoC involved executing real-time cross-border test transactions between various Central Bank Digital Currency (CBDC) systems. The project tested the feasibility of conducting multilateral cross-currency transfers through the UDPN, involving both Distributed Ledger Technology (DLT) and non-DLT-based CBDC technologies.

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Tokenized Deposits vs. Stablecoins: What’s the Difference and Why It Matters

Finovate

Blockchain-powered financial infrastructure is on the rise, and it’s important for banks, fintechs, and regulators to understand new developments in the space, what’s possible, and what’s next. While not always the case, most stablecoins are issued by private, non-bank companies.

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Unlocking the Future of Global Payments: A Deep Dive into China’s CIPS

Finextra

CIPS, established under the approval of the People’s Bank of China, is a wholesale payment system dedicated to cross-border RMB transactions. Notably, foreign banks can become direct participants, opening dedicated accounts and obtaining unique CIPS codes. What Is CIPS and Why Does It Matter?

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Top 100 Fintech Tools and Platforms for Businesses

Fintech Review

This guide covers the top 100 fintech tools across key categories including banking APIs, billing, KYC/AML, FX, crypto tools, and open banking. Banking-as-a-Service & Embedded Banking APIs Let’s start the top 100 fintech tools and platforms with embedded finance. Here are the top players: 1.

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How Banks Can Overcome 10 Challenges with FedNow Payment Sending and Acceptance

Finovate

Now, 15 months later, adoption rates have been unpredictably slow, especially when it comes to banks that are able to send FedNow payments. Banks connected to the FedNow network range in size from under $500 million to more than $3 trillion in assets. Of the FedNow participants, 78% are community banks and credit unions.

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