Parfin Unveils Rayls to Enhance Privacy in Brazil’s CBDC Drex

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Parfin, a financial technology firm, has developed Rayls, a new blockchain system designed to bolster privacy for Brazil’s central bank digital currency (CBDC), drex. Rayls operates in a permissioned mode, requiring Know Your Customer (KYC) compliance for all accounts, while also integrating with public blockchains via Rayls Public Chain, an Ethereum layer two (L2) solution. […]

Swiss National Bank and SDX Extend Project Helvetia CBDC Project for Two More Years

Swiss money

The Swiss National Bank (SNB) and the SIX Digital Exchange (SDX) have announced that they will extend their exploration of wholesale central bank digital currencies (CBDCs) for an additional two years. This extension is a part of the ongoing Project Helvetia, which is now entering its third phase. The project aims to further integrate CBDCs […]

Global Counsel partners with the Digital Pound Foundation

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We are delighted to announce that Global Counsel has become a strategic partner of the Digital Pound Foundation (DPF). Global Counsel is a global strategic advisory firm providing integrated consultancy services to clients working with policy change. Global Counsel and the DPF will collaborate on areas of overlapping interest across their policy and advocacy activities, […]

Italian Banking Association Reports Success in Wholesale CBDC Trial Project Leonidas

Image of the front of the Bank of Italy

The Italian Banking Association (ABI) has announced the successful trial of a wholesale central bank digital currency (wCBDC) known as Project Leonidas, conducted as part of the Bank of Italy’s sandbox. The trial, which took place last year, highlighted benefits such as atomic transactions, transparency, and information traceability. The testing phase occurred in 2023, prior […]

Insights from Ripple’s 2023 Trends in Regional Payments Report

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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.  […]

Project mBridge Enters MVP Phase and Welcomes New Member: Central Bank of Saudi Arabia

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The mBridge cross-border central bank digital currency (CBDC) project has advanced to the minimum viable product (MVP) stage, the initial production phase. This initiative, a collaboration between the Bank for International Settlements (BIS) Innovation Hub and the central banks of China, Hong Kong, Thailand, and the UAE, recently welcomed the Central Bank of Saudi Arabia […]

Qatar Central Bank Ready for Digital Currency Trials

Qatar

The Qatar Central Bank (QCB) announced on Sunday the successful completion of the infrastructure development for its Central Bank Digital Currency (CBDC) Project. This strategic move positions Qatar to keep pace with the rapid global advancements in digital currencies. Following an extensive study in the field, QCB confirmed that it will advance to the next […]

Bank of Israel Launches Digital Shekel CBDC Challenge

Photo of developer building CBDC solution

The Bank of Israel has launched its Digital Shekel Challenge, following the recent announcement of a central bank digital currency (CBDC) sandbox. This initiative invites participants from both Israel and abroad to develop innovative use cases for the digital shekel. Drawing inspiration from the BIS and Bank of England’s Project Rosalind, the Challenge aims to […]

IMF Paper Addresses Cross-Border Payments Benefits and Challenges Using CBDCs

Global payments

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 […]

Functional needs for personal data within a payments system

Functional needs for personal data within a payments system

1. Purpose of this paper This paper is intended to provide a high-level framework of personal data types and functional uses of personal data within the ecosystem of a payments system.  Its objective is to facilitate discussions on privacy in the context of a digital Pound by enabling consistent terminology.  Some functional elements described in […]

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