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 […]
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 […]
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 […]
Palau Embarks on Phase Two of Innovative Stablecoin Project with Ripple
The Ministry of Finance of Palau has officially launched the second phase of the Palau Stablecoin (PSC) program. This phase aims to enhance the digital currency’s utility and reach by prioritizing the development of a digital ecosystem and increasing user engagement, while ensuring adherence to regulatory compliance. Jay Hunter Anson, a cybersecurity consultant in Palau […]
The Digital Evolution of Money, a New Whitepaper from Ripple
The financial world stands on the brink of a historic transformation, as Central Bank Digital Currencies (CBDCs) are rapidly evolving. Ripple, a member of the Digital Pound Foundation, has this week published a brand new whitepaper entitled “The Digital Evolution of Money” and is a must-read for policymakers, financial experts, and anyone interested in the […]
Ripple: Demystifying Central Bank Digital Currencies
Source: Ripple Central Bank Digital Currencies (CBDCs) have been making waves in the world of finance, offering a groundbreaking intersection between traditional fiat currencies and the digital realm. In this first piece of a broader series, we will delve into the world of CBDCs, explaining what they are, how they work, and why they are becoming […]
S&P Global Ratings Unveils New Stablecoin Stability Assessment
S&P Global Ratings has today unveiled a new stablecoin stability assessment framework which evaluates stablecoins on a scale from 1 (very strong) to 5 (weak), considering asset quality risks, including credit, market, and custody risks. The framework also examines overcollateralisation requirements, liquidation mechanisms, governance, legal and regulatory frameworks, redeemability, liquidity, technology, third-party dependencies, and track […]
