BIS Release Results of Survey on CBDCs and Cryptocurrency
94% of central banks are actively exploring the development of a central bank digital currency (CBDC), and the results from an extensive survey performed by the Bank for International Settlements (BIS) involving 86 central banks highlights a significant increase in experiments and pilot programmes, particularly in advanced economies, with a notable rise in activity among […]
How Star Wars and Star Trek Got The Future of Money So Wrong! | Poundcast Episode 17
In episode 17 of the Poundcast, we are thrilled to host technologist and thought leader Dave Birch. With a rich background in secure communications and financial services, Dave shares his insights on the evolution of money from physical forms to digital assets. We delve into the historical context of money, discuss the role of digital […]
Insights from Ripple’s President: SEC Battles, Payment Innovations, and Stablecoins
In a recent episode of ‘The Scoop Podcast’ by The Block, Monica Long, President of Ripple, offered a detailed discussion about the strategic movements of Ripple, especially in relation to XRP and the company’s new venture into stablecoins. Monica Long elaborated on how the clarity obtained from last July’s U.S. court decision—which confirmed XRP is […]
Insights from Ripple’s 2023 Trends in Regional Payments Report
Source: Ripple The global payments industry is evolving at an unprecedented pace. The race is on to stay ahead of dramatic shifts in consumer preferences, regulatory changes, and technological innovations. A consistent theme across these advances is the use of modern payment solutions, including blockchain-enabled payments, to realize faster, more inclusive, and transparent customer experiences. […]
IMF Paper Addresses Cross-Border Payments Benefits and Challenges Using CBDCs
As central banks worldwide continue to contemplate the issuance of central bank digital currencies (CBDC), a recent paper from the International Monetary Fund (IMF), written by André Reslow, Gabriel Soderberg, and Natsuki Tsuda, explores the potential benefits and challenges of implementing retail CBDCs for cross-border payments. The paper emphasises the importance of factoring in cross-border […]
An Accelerated Shift to Instant Payments Across Europe
Source: Ripple (This post was originally published in 2022 and has been updated as of May 2024) Instant payments continue the forward march as the transaction method of choice for consumers and businesses across the European Union and the United Kingdom. Entities like the European Commission (EC) are behind the progress, working to build more […]
Exploring the Potential of Central Bank Digital Currencies in Africa
Source: Ripple (This post was originally published in 2022 and has been updated as of May 2024) A few reasons for the aforementioned financial exclusion include cost barriers to opening an account, high remittance fees, a lack of identifying documentation, limited access to physical bank branches, and an economy that still largely operates on cash. […]
Stablecoins Coming to Bitcoin’s Lightning Network, CEO Elizabeth Stark
Lightning Labs is making headway in introducing stablecoins to the Bitcoin network. This advancement comes through the utilisation of Bitcoin’s Taproot upgrade, which was rolled out in late 2021. Elizabeth Stark, CEO of Lightning Labs, shared these insights during her presentation at FT Live’s Crypto and Digital Assets Summit in London. At the summit, Stark […]
Rwanda Publishes New CBDC Feasibility Study
A comprehensive feasibility study on the potential implementation of a Central Bank Digital Currency (CBDC) in Rwanda has revealed several key opportunities and challenges from economic, functional, legal, and financial perspectives. This study emphasises the strategic advantages and the robust design considerations necessary for the successful integration of a CBDC into Rwanda’s financial ecosystem. The […]
Making CBDCs work for offline payments
Source: Quant In this article, we explore some of the key challenges associated with offline payments, why they must be an integral part of any central bank digital currency project and how to ensure that – while offline – they are secure and resilient enough to protect against cyberthreats and other financial crime. What are […]
