PayPal Introduces Zero-Fee Remittances with PYUSD Stablecoin via Xoom

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 […]

EU Backs Plans for an EU-Wide Digital Wallet for Secure Online Authentication

The European Union has backed plans for a new EU-wide wallet, which would enable EU citizens to securely identify and authenticate themselves online without relying on third-party commercial services, addressing concerns related to trust, security, and privacy. The Digital Identity Wallet would be designed for voluntary use. Throughout the negotiation process, Members of the European […]

Global Digital Finance partners with the Digital Pound Foundation to improve policy collaboration across the digital finance ecosystem

Global Digital Finance partners with the Digital Pound Foundation to improve policy collaboration across the digital finance ecosystem

We are pleased to announce that Global Digital Finance (GDF) has joined the Digital Pound Foundation (DPF) as a strategic partner. GDF is an open innovation community that works towards improving market standards and regulation for digital finance through engagement with industry, policymakers and regulators. Global Digital Finance and the DPF will collaborate on areas […]

Swiss City of Lugano Launches Blockchain Bond with Wholesale CBDC Settlement

Swiss City of Lugano Launches Blockchain Bond with Wholesale CBDC Settlement

In Switzerland, the city of Lugano has announced the issuance of its second blockchain bond, following its initial blockchain bond launch a year prior. This recent issuance, valued at CHF 100 million, integrates with the Swiss National Bank’s (SNB) Project Helvetia, marking a significant step by settling transactions in wholesale central bank digital currency (CBDC). […]

Updated Digital Euro Legislation Supports Permissionless Blockchains

Updated Digital Euro Legislation Supports Permissionless Blockchains

This week, the EU’s parliamentary Committee on Economic and Monetary Affairs convened to discuss the digital Euro, unveiling an updated draft of the digital Euro legislation with significant revisions, including backing for permissionless blockchains. The draft now allows conditional payments in digital Euros on permissionless distributed ledgers, expanding beyond privately issued assets like crypto-assets or […]

DPF Response to FCA Discussion Paper 23/4 – Regulating cryptoassets Phase 1: Stablecoins

DPF Response to FCA Discussion Paper 23/4 - Regulating cryptoassets Phase 1: Stablecoins

The Digital Pound Foundation (DPF) welcomes the opportunity to respond to the Financial Conduct Authority’s (the FCA’s) Discussion Paper 23/4 on Regulating cryptoassets Phase 1: Stablecoins (the “Discussion Paper”). We would like to thank the FCA for the in-depth and comprehensive analysis that has been undertaken in drafting the Discussion Paper, as well as the […]

MiCA’s Significance Criteria: A Tool for Stability or Overreach in Stablecoin Regulation?

MiCA's Significance Criteria: A Tool for Stability or Overreach in Stablecoin Regulation?

A new paper by Patrick Hansen (Circle Internet Financial) and Helmut Bauer (Flawless Money) was recently published via SSRN to explore the intricacies of the European Union’s (EU) regulatory approach to fiat-backed stablecoins within the framework of the Markets in Crypto-Assets Regulation (MiCA). The study compares MiCA’s significance regime to established frameworks in banking and […]

The Role of a Digital Pound in Promoting Sustainability

The Role of the Digital Pound in Promoting Sustainability

Executive Summary  The Digital Pound Foundation Use Case Working Group has been working together to identify, develop and refine a series of key use cases that can be used to illustrate the potential of a retail digital Pound for the UK citizen. With a focus on innovation and use cases that cannot easily be served […]

DPF Response to Bank of England Discussion Paper: Regulatory regime for systemic payment systems using stablecoins and related service providers

Bank of England Discussion Paper: Regulatory regime for systemic payment systems using stablecoins and related service providers

The Digital Pound Foundation (DPF) welcomes the opportunity to respond to the Bank of England’s (the Bank’s) Discussion Paper on the Regulatory regime for systemic payment systems using stablecoins and related service providers (the “Discussion Paper”). The DPF’s stated remit is to advocate for and support the implementation of a well-designed digital Pound, in both […]

Monei Launches Euro-Pegged Stablecoin Test under Bank of Spain Supervision

Monei Launches Euro-Pegged Stablecoin Test under Bank of Spain Supervision

Fintech firm Monei has now initiated a pilot program for a stablecoin pegged to the euro, known as EURM, under the oversight of the Bank of Spain. This pilot, which commenced in January as part of the regulatory sandbox, involves a select group of individual participants to ensure a low margin of error. The purpose […]

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