Articles with tag: central bank

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PayPal to allow crypto transactions on its network

22 Oct 2020 | Cryptocurrencies

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

The Bahamas launches the Sand Dollar CBDC

21 Oct 2020 | Mobile Payments

The Bahamas has launched a central bank digital currency, Sand Dollar.

Bahamas, CBDC, Sand Dollar, digital currency, mobile payments, mobile transfers, e-wallet, central bank

The Central Bank of Ireland grants Modulr an EMI licence

21 Oct 2020 | Payments General

UK and Ireland-based fintech Modulr has secured an electronic money institution (EMI) licence from the Central Bank of Ireland for its Dublin-based entity, Modulr FS Europe Limited (638002), (hereafter referred to as Modulr Europe).

The Central Bank of Ireland, Modulr, EMI, electronic money institution, licence, fintech, payments

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

13 Oct 2020 | Cryptocurrencies

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

ECB launches feasibility study into instant cross-border payments in Sweden

12 Oct 2020 | Online Payments

European Central Bank (ECB), in collaboration with Sveriges Riksbank, has announced it is launching an investigation into how the platform could support low-cost instant cross-currency transactions.

ECB, European Central Bank, TIPS, Target Instant Payment Settlement, instant payments, Sweden, Europe, digital payments, real-time low cost payments, merchant payments, ecommerce, consumer goods payments,

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

12 Oct 2020 | Cryptocurrencies

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

BIS, central banks publish CBDC report laying out key requirements

12 Oct 2020 | Cryptocurrencies

The Bank for International Settlements (BIS) together with a group of seven central banks have published a central bank digital currency (CBDC) report laying out key requirements for CBDC.

CBDC, BIS, Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Federal Reserve, Sveriges Riksbank, Swiss National Bank

Bank of Korea plans cryptocurrency (CBDC) testing in 2021

08 Oct 2020 | Cryptocurrencies

South Korea’s central bank has revealed that the third and final phase of its pilot programme for a CBDC will commence in 2021.

Bank of Korea, cryptocurrency, CBDC, South Korea, central bank, BOK, central bank digital currency

South Korea sees offline banking decrease in favour of fintechs

06 Oct 2020 | Online & Mobile Banking

South Koreans visiting banks for money withdrawal, deposit, and transfer have decreased in numbers due to online and mobile banking users multiplying. 

offline banking, South Korea, fintech, banks, Bank of Korea, mobile banking, online banking, withdrawal, deposit, transfer, smartphone, apps, central bank, ATMs, banking apps, digital banks, digital payments, online shopping

ECB should plan digital euro issuance, board member says

02 Oct 2020 | Online & Mobile Banking

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

ECB aims to trademark the term 'Digital Euro' amid feasibility study

02 Oct 2020 | Cryptocurrencies

As European Central Bank officials prepare to release an assessment of the benefits and drawbacks of creating a digital version of the euro, the ECB has applied to trademark the term ‘Digital Euro’.

European Central Bank, ECB, digital euro, blockchain, crypto, digitalisation

Hong Kong Monetary Authority selects ConsenSys for CBDC project

28 Sep 2020 | Cryptocurrencies

The Hong Kong Monetary Authority (HKMA) has selected ConsenSys, a US-based blockchain company, to develop a central bank digital currency (CBDC) project.

Hong Kong Monetary Authority, HKMA, ConsenSys, blockchain, CBDC, central bank digital currency, cross border payments, Singapore

Digital Euro seen as an alternative to 'private digital currencies', ECB

25 Sep 2020 | Cryptocurrencies

The European Central Bank (ECB) has been analysing the benefits and risks of a digital currency, according to its president, Christine Lagarde.

European Central Bank, ECB, Christine Lagarde, digital euro, digital currency, cryptocurrency, blockchain, retail payments

The subscription economy and recurring payments in Brazil

22 Sep 2020 | Online Payments

Ralf Germer, CEO and Co-Founder of PagBrasil, brings into focus the proliferation of alternative payments methods for the subscription economy sector in Brasil

Ralf Germer, PagBrasil, Brazil, alternative payment methods, subscription economy, LATAM, Latin America, Associação Brasileira de Comérico Eletrônico, boleto bancario, PIX, instant payments, SaaS, StartSe, Wine, Tag Livros, Glambox, ecommerce, online shopping, Central Bank of Brazil, QR code, QR payments

Pakistan rolls out online banking for expats

18 Sep 2020 | Online & Mobile Banking

The Pakistan Government has introduced the Roshan Digital Account, an online banking initiative for expatriates. 

Pakistan, Roshan Digital Account, online banking, initiative, expatriates, expats, fund transfers, bill payments, investment, central bank, State Bank of Pakistan, SBP, commercial banks, digital account, online account, bank branch

Mastercard initiates Central Bank Digital Currencies (CBDCs) testing platform

10 Sep 2020 | Cryptocurrencies

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

04 Sep 2020 | Cryptocurrencies

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

Brazil's central bank announces CDBC rollout in two years

04 Sep 2020 | Cryptocurrencies

The president of Brazil’s central bank has announced Brazilians could expect to see a central bank digital currency (CDBC) before 2023.

Banco Central, Brazil, open banking, PIX, central bank digital currency, CBDC, P2P payments, B2B payments

eCurrency brings CBDC benefits to all in ecosystem utilising digital secure currency technology

04 Sep 2020 | Payments General

‘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

03 Sep 2020 | Payments General

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