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Project Guardian: Interoperability From Tokenised Bank Liabilities Could Save Firms $50bn in FX Fees

The Fintech Times

As a Project Guardian participant, Ant International also leveraged its blockchain-based Whale platform to develop a global treasury management use case for real-time multi-currency clearing and settlement. By enabling interoperability between bank solutions, payments can be completed 24/7 with FX settlement conducted in real-time.

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PayPal World Launches to Connect Major Wallets Used by Two Billion Users

Fintech News

PayPal has launched a new platform called PayPal World to simplify cross-border payments and digital wallet interoperability for both consumers and businesses. The platform is expected to go live later this year, starting with interoperability between PayPal, Venmo, and other participating networks from key markets.

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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. RT2 offers four key advancements: enhanced resilience, expanded access, wider interoperability, and improved functionality. RT2 is substantially expanding direct participation.

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Armenia Advances Digital ID Scheme as Part of Open Data Vision

Open Banking Excellence

Another challenge is interoperability. The guiding standard is the Digital Architecture of Armenia, a Government approved approach that places interoperability, security, and high-quality service delivery as its core pillars.

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OSTTRA, Baton and Partior Enable 24/7 FX Settlement with Tokenised Bank Funds

Fintech News

The integration offers participants the flexibility to settle trades using fiat currency, tokenised commercial bank money, or assets with the credit characteristics of central bank money. Institutions now have access to tokenised USD, EUR, and SGD from participating banks and can settle transactions on demand, around the clock.

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Cambodia’s Bakong Tourists App Now Supports Visa Cards for Payments

Fintech News

The launch ceremony, led by NBC Governor Dr. Chea Serey, brought together about 300 participants, including representatives from government ministries, international payment firms, and private companies. The app also enables users to transfer funds to their individual Bakong accounts, offering an alternative to cash transactions.

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Digital Rupiah Inches Closer with Successful Completion of PoC

Fintech News

The processes included converting reserve account balances into digital Rupiah and vice versa, ensuring seamless interoperability with Bank Indonesias Real-Time Gross Settlement (BI-RTGS) system. Addressing interoperability, scalability, and security challenges, Indonesia sets a global example for nations exploring similar initiatives.