Articles with tag: central banks

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How CBDCs can operate seamlessly with existing networks – and why they should

Voice of the Industry | Online Payments | 25 Nov 2020

Mastercard’s Raj Dhamodharan agrees that CBDCs could work alongside existing schemes such as RTP to enable central banks to focus on CBDC minting and issuance while banks and PSPs focus on payment processing and distribution through existing channels

Raj Dhamodharan, Mastercard, CBDC, blockchain, payments, banking, PSP, innovation, distributed ledger, digital asset technologies, central banks, real time payments, settlement, RTP

The blueprint for financial inclusion – Mojaloop's vision for solving the unbanked problem

Interviews | Payments General | 20 Nov 2020

The Paypers interviewed Paula Hunter from the Mojaloop Foundation to learn how financial inclusion can happen in vital regions across the world when an open source approach is embraced

Mojaloop, Mojaloop Foundation, Paula Hunter, financial inclusion, charitable nonprofit, digital finance, open finance, interoperability, real-time payments, transactions, mobile money, central banks, unbanked, SME, credit score, lending, Central Bank Digital Currency, CBDC, blockchain, KYC

ECB to conduct independent review of payments system outage

News | Payments General | 18 Nov 2020

The European Central Bank (ECB) will launch an independent review of an incident that affected its real-time gross settlement system TARGET2 on 23 October 2020.

European Central Bank, ECB, real-time gross settlement system, TARGET2, payments, Eurosystem, banks, central banks

Lebanon to launch digital currency in 2021, central bank governor says

News | Cryptocurrencies | 13 Nov 2020

Banque Du LibanLebanon's central bank governor has announced plans to launch a digital currency in 2021.

CBDC, Lebanon, central banks, cryptocurrency, lira, dollar, payments, remittances, Banque Du Liban

Cypherium challenges CBDC incompatibility via its mainnet

News | Cryptocurrencies | 10 Nov 2020

Cypherium, an enterprise-focused blockchain platform facilitating interoperability between blockchains and Central Bank Digital Currencies (CBDCs), has shipped its mainnet.

CBDC, payments interoperability, central banks, payments, blockchain, smart contracts, CypherBFT, Cypherium

Central Bank Digital Currency (CBDC) – building together the future of money (and humanity)

Voice of the Industry | Cryptocurrencies | 02 Nov 2020

We can do better than build back the pre-pandemic world – we can build forward to a world that is more resilient, sustainable, and inclusive. We must seize this new Bretton Woods momentKristalina Georgieva, IMF Managing Director, Washington, DC on 15th October 2020

central bank digital currency, CBDC, Covid-19, payments digitalisation, Libra, cross-border payment, cryptocurrencies, tokens, stablecoins, reserve currency, SWIFT, fiscal stimulus, FED, interest rates, central banks, commercial banks, BIS, IMF

PayPal to allow crypto transactions on its network

News | Cryptocurrencies | 22 Oct 2020

PayPal has joined the cryptocurrency market, allowing customers to buy, sell, and hold Bitcoin and other virtual coins using the US digital payments company’s online wallets.

online wallets, PayPal, Cryptocurrency, Bitcoin, virtual coins, Ethereum, bitcoin cash, Litecoin, central banks

Central banks set out to regulate stablecoins like Facebook's Libra

News | Cryptocurrencies | 13 Oct 2020

Central banks have set out to regulate cross-border stablecoins with a common approach, adding that more rules may later be needed to ensure stability.

stablecoins, cryptocurrency, Libra, Facebook, banks, central banks, CBDC, bank capital, anti-money laundering, regulation

Central banks discuss digital currency amid Facebook's Libra and China's digital yuan

News | Cryptocurrencies | 12 Oct 2020

A group of seven major central banks including the US Federal Reserve have discussed how a digital currency could look like to help catch up with Facebook’s Libra and China’s digital yuan.

central banks, CBDC, Bank of England, digital renminbi, Facebook Libra, US Federal Reserve

ECB should plan digital euro issuance, board member says

News | Online & Mobile Banking | 02 Oct 2020

A board member of the European Central Bank has declared that the bank should prepare to issue a digital euro to complement banknotes, according to Reuters.

ECB, European Central Bank, Europe, digital euro, banknotes, banks, central banks, digital currencies, electronic payments, private tokens, Bitcoin, Facebook, Libra, electronic money, commercial bank, Bluetooth, pre-paid cards, banking system

Mastercard initiates Central Bank Digital Currencies (CBDCs) testing platform

News | Cryptocurrencies | 10 Sep 2020

Mastercard has launched a proprietary virtual testing environment for central banks to evaluate Central Bank Digital Currencies (CBDCs) use cases.

CBDC, digital currency, Mastercard, payments, central banks, commercial banks, technology providers, payments processors, testing platform

Fed joins MIT's digital currency initiative to explore Central Bank Digital Currency

News | Cryptocurrencies | 04 Sep 2020

The Federal Reserve Bank (FRB) has taken CBDCs seriously and has been engaged in efforts to research a path toward implementation.

distributed ledger, CBDC, FED, MIT Digital Currency Initiative, digital currency, US, central banks, commercial banks

eCurrency brings CBDC benefits to all in ecosystem utilising digital symmetric core currency cryptography (DSC3) technology

Interviews | Payments General | 04 Sep 2020

‘Choices around the technology used for CBDC are important as they would have a significant impact on the extent to which CBDC meets our overall objectives’, The Bank of England

Central Bank Digital Currency, Lars Arvidsson, eCurrency, Bank of England, DLT, digital wallets, central banks, commercial banks, Digital Secure Currency, payment cards, mobile money wallets

Nick Ogden, Microsoft launch new network for cross-border payments

News | Payments General | 03 Sep 2020

RTGS Global, a global cross-border liquidity network, together with Microsoft have developed a new system which enables banks to gain visibility of liquidity between their counterparties.

cross border payments, WorldPay, ClearBank, RTGS Global, Microsoft, vostro, nostro, Nick Ogden, fintech, central banks, correspondent banking, settlement, reconciliation

The American Central Bank Digital Currency plan – quiet, powerful, imminent

Voice of the Industry | Cryptocurrencies | 02 Sep 2020

Douwe Lycklama, Innopay: After years of cash reduction in favour of commercial banks debt money, now central banks can regain some of their position once held in a cash society

Douwe Lycklama, INNOPAY, CBDC, central bank digital currency, programmable money, digital wallet, tokens, Decentralised Finance, DeFi, US, central banks

Bank of Korea to pick consulting partner for CBDC

News | Cryptocurrencies | 31 Aug 2020

The Bank of Korea (BOK) has been accelerating its drive for the timely establishment of a central bank digital currency (CBDC) pilot system.

CBDC, architecture, central banks, central bank digital currency, Bank of Korea, cryptocurrency, pilot, trial

Interview with Cypherium about blockchains and Central Bank Digital Currencies trials

Interviews | Cryptocurrencies | 24 Aug 2020

Blockchain, or ‘distributed ledger’ technology that underpins Bitcoin, has emerged as an object of intense interest in the financial services industry and beyond

financial services, blockchain, central bank digital currency, CBDC, central banks, Sky Guo, Cypherium, digital currencies, DLT, China

Libra may not deliver digital currency, but digital identity

Voice of the Industry | Cryptocurrencies | 06 Aug 2020

‘In large parts of the world, Know-Your-Customer (KYC) could be replaced by Known- by-Zuck (KYZ) to the benefit of society as a whole’ The Digital Currency Revolution’ by David Birch

David Birch, Libra, CBDC, central banks, Facebook, Know-Your-Customer, identity, digital identity, identity verification, digital currency, synthetic hegemonic currency, digital wallets, Novi, Consult Hyperion

Central Bank Digital Currencies: evolution, not revolution

Voice of the Industry | Cryptocurrencies | 24 Jul 2020

In our second instalment of CBDC series, Barry Topf, Chief Economist at Saga Monetary Technologies, discusses the potential CBDCs hold but also the great hidden risks, especially in terms of privacy

Saga Monetary Technologies, Barry Topf, CBDC, Central Bank Digital Currency, crypto, digitalisation, tokens, trust, security, central banks, central bank money, interest rate, financial stability, Saga token, SGA

BIS Innovation Hub to expand to new locations in Europe and North America

News | Payments General | 01 Jul 2020

BIS Innovation Hub has announced plans to extend its reach with new centres over the next two years in collaboration with central banks from Europe and North America.

BIS Innovation Hub, Europe, North America, central banks, BIS Innovation Hub, fintech, Bank of Canada, Bank of England, European Central Bank, Eurosystem, Danmarks Nationalbank, Central Bank of Iceland, Central Bank of Norway, Sveriges Riksbank, Federal Reserve System, Hong Kong Monetary Authority, Monetary Authority of Singapore, Swiss National Bank