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RT2: A strategic transformation for UK payment providers

The Payments Association

RT2: Renewed real-time gross settlement marks transformation for UK payment providers 9 June 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? RT2, the UK’s new Real Time Gross Settlement service, and its transformative impact on the payments ecosystem.

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The Journey of Payments and Clearing Systems in India

Finextra

Indigenous Banking (Shroffs and Mahajans): Long before modern banks, India had a thriving indigenous banking system. These banks introduced formal ledger-based accounting and cheque payments. This was a significant step towards non-cash payments but was slow and prone to errors.

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

Finextra

China’s Cross-border Interbank Payment System (CIPS) is rapidly emerging as a central artery in the internationalization of the Renminbi (RMB), offering a robust infrastructure for cross-border settlements and reshaping how global institutions engage with China’s markets. What Is CIPS and Why Does It Matter?

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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. They will need to co-exist with existing clearing and settlement processes and infrastructures, and this means interoperability is crucial.

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The Corporates Betting On Blockchain To Reshape Capital Markets Infrastructure

CB Insights

Meanwhile, major banks such as BBVA and Commonwealth Bank of Australia have already launched “tokenized” bond initiatives where DLT is used to prove ownership of assets. Primary markets: Companies in this category focus on the tokenization of real assets — which refers to tracing ownership using DLT tech like blockchain.

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Google Backs FedNow Payments System

PYMNTS

central bank to consider modeling FedNow after the Unified Payments Interface (UPI) framework used in India, The Economic Times (ET) reported on Sunday (Dec. FedNow is the new interbank real-time gross settlement (RTGS) service that will offer integrated clearing functionality for faster digital payments.

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TRENDING: How Ingram Micro Stays Atop Packages And Payments

PYMNTS

In India, Axis Bank launched a blockchain-powered global payment service, developed using Ripple’s real-time gross settlement (RTGS) solution, to facilitate payments between businesses in Southeast Asia and the Middle East. Retail customers can now use the service to receive payments from the UAE’s RAKBANK.