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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.
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.
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. Explore our Open Banking in a Box Programme below and contact Helen Child for more details.
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. The addition of tokenised funds supports growing real-world adoption as institutions move beyond experimentation to streamline post-trade FX processes.
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.
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.
By introducing the SOMQR standard and establishing the Somalia Payment Switch (SPS) as the scheme manager and operator, CBS aims to reduce reliance on cash, ensure interoperability, and expand financial services across the country. The demand for secure, fast, and modern payment solutions has been pressing.
The service improves financial interoperability by making transactions faster, more convenient, and cost-effective for small and medium-sized enterprises (SMEs) and individuals. By participating in this arrangement, these partners benefit from the safeguards and efficiency of PAPSS’s framework.
In the architecture of the VOP scheme, the EDS enables reachability and interoperability between VOP scheme participants. The EDS will be accessible to scheme participants adhering to the VOP scheme and to the Routing and Verification Mechanisms (RVMs) operating on their behalf.
Heres how it works for Swift: A copy of Swifts anomaly detection model is sent to each participating bank. As new threats emerge, the shared knowledge pool helps all participants quickly adjust their models and their fraud prevention tools. Each financial institution trains this model locally on their own data.
By introducing the SOMQR standard and establishing the Somalia Payment Switch (SPS) as the scheme manager and operator, CBS aims to reduce reliance on cash, ensure interoperability, and expand financial services across the country. The demand for secure, fast, and modern payment solutions has been pressing.
The system uses global standards like ISO 20022, which ensures that all participants can communicate efficiently, regardless of local system differences. How can APAC banks differentiate themselves by participating in Nexus? Eli Shoshani : Early participation allows banks to set themselves apart as leaders in innovation and efficiency.
To speed up progress, MAS is now pushing for participants to commercialise their findings, fostering a connected network for trading tokenised assets. The SGD Testnet will be made available to eligible financial institutions participating in Project Guardian and Project Orchid, enabling them to settle transactions with S$ wholesale CBDC.
Pilot participant Janko Hahn , head of treasury operations at Autoneum , said: “The UBS Digital Cash pilot showcased the key advantages of blockchain-based payment solutions. The post UBS Successfully Pilots Blockchain-based Payment Solution for Cross-Border Transactions appeared first on The Fintech Times.
Fiserv is positioning FIUSD as a “bank-friendly coin,” making it possible for banks to participate and compete in the tokenized financial ecosystem. Tokenized deposits offer many of the same advantages that stablecoins do, such as speed, interoperability, and programmability. .”
It is expected that all participant banks, from Italy, Portugal, Spain and Andorra, will be connected by June. EuroPA enables interoperability between Bancomat, Bizum and MB WAY, connecting more than 50 million users and 186 financial institutions from Italy, Portugal, Spain and Andorra.
Meeting both local and international regulatory standards, the platform integrates various components, including an Integration Platform for seamless connectivity, a Participant Portal for real-time transaction monitoring, and a Dispute Portal for efficient case resolution.
But the real story is in the infrastructure behind it: licensing, interoperability and a deep commitment to making cross-border payments work for everyone – not just the biggest players. This purpose is rooted in facilitating inclusion and interoperability. TerraPay now connects over 155 countries and 3.7
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. “Based on our biometrics study, close to seven in 10 Singapore consumers see this as a secure way to pay. .
It is expected that all participant banks, from Italy, Portugal, Spain and Andorra, will be connected by June. EuroPA enables interoperability between Bancomat, Bizum and MB WAY, connecting more than 50 million users and 186 financial institutions from Italy, Portugal, Spain and Andorra.
We are encouraged by the keen participation from financial institutions and fellow policymakers to co-create industry standards and risk management frameworks to facilitate commercial deployment of tokenised capital markets products, and scale tokenised markets on an industry-wide basis.”
Financial inclusion is not just about facilitating transactions; it is about providing the infrastructure, rules, and governance that enable individuals and businessesespecially women and underserved communitiesto participate fully in the digital economy.
Greater financial inclusion , enabling businesses and individuals to participate more effectively in the global digital economy. With built-in interoperability, TerraPay connects various financial systems, from banks to mobile wallets, making it easier for businesses to scale and users to transact seamlessly on a global scale. .”
The Bundesbank will participate in various pilot projects testing specific use cases for asset tokenisation, exploring its feasibility and its potential benefits for capital markets, and examining how it can leverage network effects. The Bundesbank is very pleased to be cooperating with a partner that is as competent as MAS.”
Based in Singapore, the NSO will be owned by the central banks and IPS operators of participating countries. Initially, these include countries like India, Malaysia, the Philippines, Singapore, and Thailand, with Bank Indonesia participating as a special observer. List of cross-border linkages that have gone live in Southeast Asia.
The recognition also highlights Thunes’ achievements in product development, operational excellence, and its crucial role in enhancing interoperability, key to expanding financial inclusion and enabling access across both mature and emerging markets. Pamela Ho , Head of Network, APAC at Thunes.
. “For instance, in Mexico, were working with local fintechs and other organisations including The Peoples Clearinghouse and The Mexican Association of Credit Unions of the Social Sector (AMUCSS) on an initiative that will introduce an interoperable, real-time payment pathway between the US and 140 rural community banks.
Crucially, this initiative is critical for establishing a robust and interoperable ecosystem, where tokenised assets can be traded securely and efficiently across different jurisdictions. Featured image credit: Edited from Freepik The post Will Singapore Realise Its Tokenisation Dreams? appeared first on Fintech Singapore.
PEM has numerous workstreams all aimed at driving competition, innovation, financial inclusion and addressing fraud and risk in an open, interoperable system. The post PayU GPO Strengthens Africa Presence with A2A Rollout and Senior Appointment appeared first on FF News | Fintech Finance.
This marks the initial phase of the cross-border initiative, enabling QR payment interoperability between Cambodia’s KHQR and Japan’s JPQR systems. It reflects our dedication to harness technology for sustainable and inclusive growth—and to ensure that Cambodians are fully equipped to participate in the global digital economy.”
Rain’s technology stack allows for card transactions on the Visa network to be interoperable with stablecoins across multiple blockchains. While giving consumers access to digital-first globally interoperable payment experiences. These capabilities help fintechs go to market faster with new products.
DBS Bank is also a participating bank in PayNow, Singapores consumer real-time payments service. This technology-driven approach enables Thunes to support a wide variety of use cases including gig economy payouts, e-wallet interoperability, and financial inclusion efforts.
FDX, a standard-setting organisation operating in the US and Canada with over 200 member organisations, aims to develop, improve and maintain a common, interoperable standard for secure consumer and business access to financial records. These standards can help companies to comply with the CFPB’s new open banking rules.
Seamless and affordable international alternative payment methods will empower individuals and businesses, fostering global economic participation. This feature, being implemented by Pix system participants (banks, payment institutions, etc.), Weve developed a solution for Pix with Embedded Authentication the 1-Click Pix.
The ninth edition of the Singapore Fintech Festival (SFF) wrapped up on 8th November, concluding a dynamic week-long of celebration of fintech that brought together tens of thousands of participants from around the world. However, challenges remain, particularly regarding interoperability.
Its fair to say that traditional financial systems left many people and communities underserved, but LPMsfrom mobile wallets in Africa to RTP schemes like UPI in Indiabridge this gap, and theyre empowering billions of consumers to participate in the digital economy. At Boku, we want to be at the heart of this transformation.
The new launch will improve financial interoperability by making transactions faster, more convenient, and cost-effective – the primary emphasis of the new service will be on small and medium enterprises (SME) and retail transactions. The service will soon be available on mobile money and other fintech-based wallets.
They will need to co-exist with existing clearing and settlement processes and infrastructures, and this means interoperability is crucial. This can concern payments, conditional payments (a DLT based version of a letter of credit) and the post-trade settlement of securities and derivates (including margin calls). billion in April.
Anyone participating in an economy needs financial services, no matter how simple. billion by 2029, there is still a critical issue regarding interoperability, with many mobile wallets still not being fully connected to banks, global networks or each other. This isn’t due to lack of demand. billion in 2024 to 5.8
“The launch of CPN represents a leap forward for global payments infrastructure toward an architecture where interoperability, compliance, speed, and cost-efficiency are emphasized,” said Circle VP of Product Management Sunil Sharma. “We are just getting started.
The round also featured participation from Google’s Africa Investment Fund, Verod Capital, and Lightrock. “This milestone validates the work we’ve put in for almost a decade,” the company noted in a post on its LinkedIn page. This is just Day One, and we’re excited for where this takes us.”
Omar Salem Financial regulation and fintech partner, Fox Williams "Post–31 March 2025, the UK regulator is focused on supervision and in the future may hold firms, and potentially individuals, accountable for operational resilience breaches. Post-deadline supervision will stress-test incident playbooks and escalation protocols.
Greater financial inclusion, enabling businesses and individuals to participate more effectively in the global digital economy. With built-in interoperability, TerraPay connects various financial systems, from banks to mobile wallets, making it easier for businesses to scale and users to transact seamlessly on a global scale. .”
With SmartVista, we enable banks not only to meet regulatory deadlines but also to unlock the full potential of richer data, greater interoperability and real-time payment capabilities. The post BPC Aims to Help Banks Turn ISO 20022 Compliance Into a Strategic Advantage With New Guide appeared first on The Fintech Times.
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