SWIFT to Unveil CBDC Platform in Move Towards Digital Banking
In a significant development for the global banking sector, SWIFT, the international banking communications network, has announced plans to launch a new platform within the next 12 to 24 months. This platform aims to integrate the emerging central bank digital currencies (CBDCs) with the current financial system. The initiative underscores the rapidly growing interest in […]
From Pilot to Policy: The Accelerated Adoption of Digital Currencies in MENA
A significant focus has been placed on the development of Central Bank Digital Currencies (CBDCs) within the Middle East and North Africa (MENA) region, highlighting the UAE’s strides in digital currency integration. A recent EY report outlined the UAE Central Bank’s ongoing efforts to incorporate the digital Dirham, inviting commercial banks and payment processors to […]
Exploring the Future of Digital Currency in Africa | Poundcast Episode 14
In Episode 14 of the Poundcast, we delve into the dynamic world of African digital currency with Adedeji Owonibi, Founder and CEO at Convexity. Adedeji shares his expertise on the developments in the Nigerian CBDC and stablecoin space, shedding light on initiatives like the eNaira and the African Stablecoin Consortium. He discusses the vision behind […]
PayPal Introduces Zero-Fee Remittances with PYUSD Stablecoin via Xoom
PayPal is enhancing its Xoom money transfer application by allowing users to conduct remittances without any fees when using its stablecoin, PYUSD. This initiative is part of PayPal’s strategy to increase its presence in the global remittance market and to promote the usage of PYUSD, which was introduced last year. Unlike the standard 2% fees […]
South Africa Plans to Embrace Digital Payments and Blockchain for Greater Financial Inclusion
South Africa’s latest annual budget unveils a strategic plan by the treasury to enhance digital payment adoption. This initiative includes a thorough evaluation of stablecoins and blockchain technology, aiming to enrich the lives of marginalized communities. The 2024 budget review underscores the urgency of structural reforms and the improvement of public financial management, with a […]
Digital Currency Glossary
Foreword This glossary has been produced by UK Finance, The Payments Association, Digital Pound Foundation, TheCityUK, Innovate Finance and City of London Corporation, and supported by CryptoUK, CMS, Clifford Chance, Greengage, Cummings Pepperdine and The Realization Group. This glossary is also available in PDF format – click here to download a print-friendly copy. Digital currencies […]
Digital Pound Foundation joins forces with industry bodies to launch the Digital Currency Glossary, fostering better education on key terms
The Digital Pound Foundation is pleased to be part of launching a new educational tool – the Digital Currency Glossary – which has been developed in collaboration with leading industry bodies and firms including Innovate Finance, TheCityUK, City of London Corporation, UK Finance, The Payments Association, CryptoUK, Clifford Chance, CMS, The Realization Group, Greengage, and […]
Stablecoins, Tokenized Deposits and the Future of Private Money | Poundcast Episode 13
In Episode 13 of the Poundcast, we speak to Elise Soucie, Director of Policy and Regulation at Global Digital Finance (GDF). We discuss how the landscape of new forms of digital money is evolving and take a deeper dive into stablecoins – asking what is a stablecoin, who might want to issue one and why? […]
BIS Outlines Six New Projects Focussed on Tokenization, AI and Big Data, Privacy and Security, and Environmental Sustainability
The Bank for International Settlements (BIS) has outlined its 2024 work programme, introducing six new projects focusing on digital financial technologies. These projects aim to address various challenges in the financial sector, including security and environmental sustainability. The upcoming projects in the 2024 agenda include: Cecilia Skingsley, Head of the BIS Innovation Hub, commented on […]
Egypt Sets Sight on 2030 for Launching E-Pound CBDC, Aiming for Complete Financial Inclusion
Egypt is reportedly on track to introduce its own central bank digital currency (CBDC), known as the e-pound, by 2030. This initiative, led by the Central Bank of Egypt (CBE), is aimed at enhancing the competitiveness of the country’s national currency and improving the effectiveness of its monetary policy. A report detailing Egypt’s strategic economic […]
