Visa Expands Stablecoin Settlements with Solana and Partners Worldpay and Nuvei
Visa is taking significant steps to modernise cross-border money transfers, with plans to expand its stablecoin settlement capabilities to the Solana blockchain. The company is collaborating with merchant acquirers Worldpay and Nuvei to facilitate this development. Visa has already initiated live pilots with issuers and acquirers, effectively moving millions of USDC (USD Coin) between its […]
Citi Survey Reveals Rising Momentum for CBDCs in Accelerating Settlements
Escalating approval of Central Bank Digital Currencies (CBDCs) receives reinforcement from ongoing domestic trials and transnational endeavours in diverse jurisdictions, according to a study conducted by the prominent banking institution, Citi. In the context of discussions aiming to truncate local financial settlement cycles within the forthcoming five years, the majority of securities firms are setting […]
Is safe the new sexy? CBDCs, trust and the evolution of money
Source: Mastercard Central banks have been exploring ways to issue their own digital currencies for years. Yet their efforts haven’t captured the public’s attention — for better or, more recently, for worse — like cryptocurrencies have. But central bank digital currencies, or CBDCs — essentially a digital version of fiat currency backed by a government […]
Brazil’s CBDC Pilot Phase Attracts Nubank, Microsoft, Visa, and SETL Among Leading Participants
In a significant development, Brazil’s central bank has unveiled its selection of 16 proposals to participate in the pilot phase of the Drex CBDC project. This notable roster of participants includes prominent names such as Nubank, Microsoft, Visa, and SETL. Brazil has been diligently advancing its digital real initiative over the course of several years, […]
Honduras Initiates Consultation for Central Bank Digital Currency (CBDC) to Drive Financial Inclusion
The Central Bank of Honduras has embarked on a comprehensive two-month consultation period to explore the potential implementation of a retail-oriented Central Bank Digital Currency (CBDC). The primary focus of this initiative is to enhance financial inclusion, with a particular emphasis on facilitating cross-border transactions, specifically remittances. In collaboration with the International Monetary Fund (IMF), […]
PayPal Launches U.S. Dollar Stablecoin
PayPal, a prominent player in the payments industry, has unveiled its new U.S. dollar stablecoin, signaling its entry into the realm of digital currencies for payments and transfers. This move has been met with cautious optimism and has given a modest 2.66% boost to PayPal’s shares. Unlike the volatility witnessed in cryptocurrencies, stablecoins are designed […]
Challenges and Prospects for BRICS Common Currency: Insights from Bank of Russia’s Governor
Unraveling BRICS Common Currency Challenges & Prospects: Bank of Russia’s Insights. Explore economic comparisons & complexities in this financial landscape.
Latin America Leads CBDC Adoption: A Roadmap for Digital Finance Revolution
Latin American countries have been making steady progress towards CBDCs. According to a report by the International Monetary Fund (IMF), the majority of central banks in the region are currently evaluating CBDCs. While most of the research and development is still in the early stages, a few nations have made significant strides towards the launch […]
An Interview with Susan Friedman, Head of Policy at Ripple, about the digital Pound
In the third of our member video series, we talk with Susan Friedman of Ripple about the potential benefits of a digital Pound, what frameworks might need to be put into place for CBDCs not only in the UK but globally, and why Ripple chose to become a member of the Digital Pound Foundation. Are […]
Policy drivers for a retail CBDC
Source: Digital Bytes | Written by Jannah Patchay Executive Director and Policy Lead at the Digital Pound Foundation (DPF) Central bank digital currencies (CBDCs) – a digital form of central bank-issued fiat currency – have seen an explosive growth in interest over the past four years. At the start of 2023, 114 countries, representing 95% of […]
