UK takes first steps towards CBDC with launch of new taskforce
The taskforce will now set out to identify the UK’s use cases for a CBDC.
Central Bank
SoftBank in talks to turn Indian payments firm Zeta into a unicorn
If finalised, the investment would come through SoftBank Vision Fund 2.
France’s central bank warns fintech industry of rules when using term “neobank”
The industry has long called out the interchangeable use of the word “neobank”.
Triggers and obstacles to the development of the fintech sector in Poland
A deep dive on the benefits and challenges of the banking and payments landscape in Poland.
New central bank rules push Pakistan’s banks towards digital payments
All Pakistani banks will need to provide debit cards to users who don’t already have one.
Budget 2021: What does it mean for UK fintech?
FinTech Futures scrolls through the UK chancellor’s new budget to pick out the fintech impact.
ECB wants final say on stablecoin issuance under new EU regulation
This new regulation won’t apply in the UK following Brexit.
US Federal Reserve’s payment system down for more than three hours
Both Fedwire and FedDACH went down this week, and remained so for a few hours.
Nigeria’s central bank issues crypto shutdown throwing fintechs into disarray
Nigeria is one of the world’s largest users of virtual currencies.
Ant sets up working group to overcome Chinese regulatory requirements
Companies like Ant have until November 2021 to register a new financial holding.
Saudi Arabia’s central bank plans open banking go-live for 2022
SAMA has already “collected the local financial market participants’ feedback”.
New Zealand’s central bank victim of Accellion’s cyberattack
New Zealand Stock Exchange was also the victim of a cyberattack in August.
Central Bank of Ireland urges firms to contact UK banks over Brexit
Creditors with direct debits in place for UK customers may need to provide their bank with additional info.
Denmark to join Eurosystem’s Target2 payment platform
T2 would then include the Danish krone by November 2025.
UK CBDC researcher: We should be further along than we are
A UK CBDC won’t happen anytime soon if the Bank of England takes an iterative approach.
The Fintech Review: 2020
We cover embedded finance, competition, open banking, and CBDCs.
Singapore and Thailand to link national payment systems in 2021
In Singapore, PayNow monthly transaction values have crossed the $3 billion mark.
Singapore issues digital bank licences to Grab, Ant & Sea
The regulator has issued four licences, rather than five.
UK central bank unveils Islamic finance liquidity alternative
The central bank will run tests in early 2021.
Principles for a global central bank digital currency and a single global payment system
The new global payment system should replace all current payment and settlement arrangements.
ECB issues Big Tech warning as it promises digital euro
European suppliers are essential in the building of technology on which a digital euro will operate.
Banking Tech Awards 2020 hosted online by Tom Ward
Join comedian Tom Ward for the 2020 Banking Tech Awards. Broadcast online on 10 Dec, 3:30pm GMT and is free to attend.
European Central Bank taps SIA and Colt to connect market infrastructure
SIA and Colt will help the ECB connect through the ESMIG single access interface.
Future economic relief should care for more families
Deserving families have continued to be unfairly excluded from government relief throughout the COVID-19 crisis.
Central bank digital currencies – don’t get the popcorn
If the art of the possible is being explored, the art of the valuable remains elusive.
Sibos 2020: CBDCs must compensate for Big Tech failures
“Those in the private sector definitely have their own lifecycle,” says PBOC.
Sibos 2020: Chinese central bank processes CBDC worth $162m in 2020
Some 113,300 personal digital wallets have been opened.
Mastercard and ACI sign payments infrastructure partnership
The pair are targeting central banks, schemes, and service providers.
Mastercard unveils virtual CBDC testing environment
A switch in tactic from Mastercard, which wasn’t always in favour of CBDCs.
London to maintain grip on EU clearing post Brexit
COVID-19 thwarts Frankfurt’s plans to grab clearing business from Britain.
France’s central bank announces partner list for CBDC experiments
The bank says it will begin work in the “coming days”.
Lithuania’s central bank launches e-shop for digital collector coins
Some 4,000 digital LBCOINs will go on sale via the bank’s e-shop from 23 July.
Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
Bank of England apologises for role of former governors linked to slave trade
British taxpayers have been paying off slave owners from 1833 to 2015.
Bank of England adds another £100bn to combat COVID-19 economic crisis
Sterling sank against the dollar and euro on Thursday, falling more than 1% following the announcement.
Societe Generale tests digital euro with Banque de France
The bank hopes the test will pave the way for a more simplified market infrastructure.
ECB hands banks €851m in first round of PELTRO funding
This is the first of ECB’s “pandemic emergency longer-term refinancing operations” plan.
Four EU banking bodies request one-year delay to T2-T2S consolidation
The consolidation is due to be completed in November 2021.
Ghana becomes first African country to introduce universal QR code
Both smart and ‘yam’ phones can pay through QR codes.
Banking Technology May 2020 issue out now
Hope springs eternal: discovering alternative lending in times of crisis.
