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The first cross-border settlement for precious metals using the digital yuan CBDC, known as e-CNY, was completed on 20 December 2023.
CBDC, digital currency, central bank, settlement, digitalisation
The Monetary Authority of Singapore (MAS) has announced additional digital finance and capital markets proposals to expand its financial cooperation with China.
online banking, green finance, trade finance, digital banking, remittances
Richard Turrin, Author of ‘Cashless’, reveals the true potential of e-CNY that goes beyond retail payments and insights into ways of breaking the dollar monopoly on oil trade.
CBDC, digital payments, banking, fintech, distributed ledger technology, blockchain, WeChat Pay, Alipay
South Korea has revealed its plans to launch a central bank digital currency (CBDC) pilot involving 100,000 citizens in the fourth quarter of 2024.
cryptocurrency, digital assets, CBDC, banks
Ant Group has welcomed seven new e-wallets and five payment apps from Asia to the ‘Alipay+-in-China’ programme.
mobile payments, digital wallet, ecommerce, POS, merchants, expansion
The Bank of China has partnered with China Telecom and China Unicom to test SIM card NFC payments for the e-CNY in certain regions.
CBDC, NFC, digital payments, mobile payments
The Paypers has analysed the most prolific partnerships announced in Q1 2023 within the global fintech space, with a focus on Open Banking, A2A payments, embedded finance, B2B payments/lending, and entrance into separate verticals.
The Paypers Quarterly Analysis series, fintech, Open Banking, digital banking, account-to-account payment, embedded finance, B2B payments, lending, Variable Recurring Payments, API, banking, partnership
CBDCs can offer economic benefits, but require secure CBDC infrastructure, effective education, and communication. Thibault Pelé, Product Manager at Worldline, discusses the adoption of CBDCs across the world and its struggles, which could be used as case studies for other central banks diving into the trend.
CBDC, banks, mobile banking, online banking, digital banking, central bank, financial inclusion, instant settlement, settlement, e-wallet, digital wallet, digital payments, payments , online payments, mobile payments
Canada-based Open Banking solutions provider Salt Edge has partnered with financial advisory firm Hoxton Capital Management.
partnership, Open Banking, financial services, financial institutions
WeChat, China’s major social networking and payment app, has added the country’s central bank digital currency (CBDC) to its payment services, according to reports in local media.
CBDC, central bank, digital currency, digital assets
Shanghai Commercial Bank has joined forces with Salt Edge to leverage PSD2 possibilities and create a bespoke banking experience for its customers.
banks, partnership, Open Banking, compliance, PSD2
Deutsche Bank’s Blue Water Fintech Lab has developed a robotic process automation platform for processing and matching data in several banks.
banks, product launch, data, fintech, transactions
Taiwan-based HSBC Bank has launched on Friday a wealth management centre in Taipei to offer customers comprehensive financial planning and investment strategies.
expansion, wealth management, banking, financial services, cash management, online banking
Money transfer service Western Union has rolled out its Digital Banking app, which offers both digital banking and international money transfers, in Romania, according to MSN.
remittance, money transfer, digital banking, product launch
Alipay has integrated with the processing network for the Chinese digital renminbi central bank digital currency (CBDC).
CBDC, payment processing, payment processor, cryptocurrency, digital assets
Enjaz Payment Services, a fintech company licensed by the Saudi Central Bank, has announced a partnership with cross-border payments enabler Thunes.
partnership, cross-border payments, cross-border ecommerce, instant payments
BNY Mellon has facilitated one of the first fully transparent payment transaction between Egypt and China.
transactions , cross-border payments, banks, financial institutions, SMEs
Western Union has partnered Shanghai Pudong Development Bank and Tencent Financial Technology to enable international money transfers through Weixin.
money transfer, product launch, partnership, super app
Best-selling author of ‘Cashless’ and ‘Innovation Lab Excellence’ Richard Turrin explains for The Paypers where we are in the CBDC journey, with a focus on China’s digital yuan
CBDC, central bank, digital currency, digital wallet, cashless
Wells Fargo has announced considering a sale of its minority stake in a Hong Kong lender, as the US-based bank continues to unload assets as part of a turnaround plan.
banks, investment