FinTech Futures: Top five stories of the week – 21 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FedNow operates in parallel with the Federal Reserve’s existing payment services, Fedwire and FedACH.
The complaint was filed by a Mexican citizen in June, according to El Economista.
The framework comes a year after the FSB called for regulation of the crypto industry on an international level.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The firm is setting up a new base in Luxembourg and will invest €200m in the country and across the wider EU.
The agreement was confirmed by the signing of a MoU in Phnom Penh, Cambodia’s capital city, this week.
Ant Group and its subsidiaries have received a penalty of $984.3m, and Tenpay has been slapped a fine of $413m.
The layer will maintain user privacy and offer protection from fraudulent activity and money laundering.
The central bank says it took the decision due to “serious, systematic and multiple violations of legal acts”.
The SNB is set to launch a new wholesale CBDC pilot on the SIX digital exchange.
El Dimachki will join BIS from the Financial Conduct Authority (FCA) in the UK.
The central bank plans to test Ripple’s CBDC platform in a controlled environment.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The PRA reportedly intended to issue a warning notice to Revolut over its balance sheet.
The acquisition will boost Regnology’s tech offering for regulators, central banks and statistical agencies.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FedNow has the potential to drive innovation, broaden financial inclusion and improve cash flow.
Payments used to be a “dusty corner” in financial services but are now evolving at speed, Sir Jon Cunliffe says.
Based out of China, Richard Turrin has a ringside seat on how China is transforming into a cashless society.
The Universal Monetary Unit (UMU) is designed to enforce banking regulations.
Montenegro joins a list of more than 100 countries piloting a CBDC for various use cases.
The CBDC initiative will look at a range of use cases across domestic and cross-border use.
Andreoli says he will be working closely with EPC members to build “the future of payments in Europe”.
CBDCs promise much, but their cost when it comes to privacy could be dear.
The new business entity will be worth more than $5 trillion, with invested assets worth more than $1.5 trillion.
The central banks will conduct joint proof of concept and pilots of bilateral CBDC cross-border transactions.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
With PayShap, consumers will have access to instant, real-time payments across participating banks.
Signature Bank is a large lender in the cryptosphere.
The Bank of England facilitated the deal over the weekend, in consultation with the Treasury.
In this episode of the podcast, we’re joined by Nicholas Soo of HSBC to discuss the future of CBDCs.
The central bank had first begun work on the adoption of open banking in June 2017.
Tintra is in the process of establishing a subsidiary and applying for a licence with the National Bank of Rwanda.
The team will monitor the cryptosphere as regulators look to manage risk and promote innovation.
Customers will soon be able to make payments to small businesses directly from WhatsApp.
The selected industry players will participate in use case proposals over the coming months, the central bank says.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The MAS and RBI will use a scalable cloud-based infrastructure to manage future increases in remittance volumes.
Olga Skorobogatova, first deputy chair of the central bank, announced the news.