Category: Payments and Banking

Boston Fed president says CBDC research is focused on benefits and costs beyond technology

Boston Fed president says CBDC research is focused on benefits and costs beyond technology

The U.S. Federal Reserve is weighing the potential risks and rewards of a digital currency beyond the technological implications, according to statements from the president of the Boston Fed made Wednesday. According to a report from Reuters, Boston Fed Bank President Eric Rosengren indicated that issues such as privacy and financial stability will play a […]

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Revolut has enabled crypto withdrawals, phase one of its plan to go ‘full crypto’

Quick Take Revolut had to get partners comfortable before rolling out new crypto capabilities. In addition to working with Fireblocks, the digital bank has partnered with crypto analytics startup Elliptic. It is now looking ahead to adding more tokens and allowing crypto customers to earn income on their funds. This feature story is available to […]

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Georgia’s central bank is exploring the issuance of a CBDC

On Wednesday, the National Bank of Georgia announced that it was considering issuing a central bank digital currency, or CBDC. In its announcement, Georgia’s central bank noted that in digitizing the Lari (GEL), it was looking for many of the same advantages that the myriad other nations launching CBDCs have pointed to: financial inclusion, streamlined […]

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FIS and NYDIG announce bid to help banks offer bitcoin to their customers

Fintech firm FIS and NYDIG, the bitcoin-focused subsidiary of investment firm Stone Ridge, have partnered on a new service offering that lets banks offer bitcoin capabilities to their customers.  According to a Wednesday press statement, NYDIG will manage the bitcoin transactions side of the offering while FIS, via its Digital One Mobile tool, will offer […]

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Under the shadow of the SEC, David Schwartz has been tinkering with Ripple’s payment tools

Quick Take With Ripple’s legal troubles in the background, the firm’s CTO David Schwartz is focused on improving its payments network. According to Schwartz, recent technical improvements to Ripple’s XRP Ledger will help make the system a better alternative to certain cross-border payment systems. This feature story is available to subscribers of The Block Daily. […]

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Turkey moves to cover crypto service providers under its money laundering regulations

Turkey added “crypto asset service providers” to companies affected under anti-money laundering and terrorism funding law, according to a presidential decree published in Turkey’s Official Gazette on May 1.  Turkey’s decision to regulate crypto exchanges took effect immediately, spurred by the Central Bank of the Republic of Turkey’s belief that digital assets pose “significant risks.” […]

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Bank of England begins hiring for central bank digital currency team

The Bank of England, the central bank of the United Kingdom, is advertising job openings for a team dedicated to the exploration of central bank digital currencies (CBDCs). The news comes a week after the Bank of England, together with HM Treasury, announced the creation of a joint task force to assess the possibility of […]

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Mastercard highlights applications beyond payments for central bank digital currencies

Mastercard’s chief executive discussed the payments firm’s ambitions in the area of central bank digital currencies (CBDCs) during a Thursday earnings call. Though the company has long been clear about its interest in serving as a private-sector partner for CBDCs — Mastercard unveiled a testing environment platform for central banks last fall — CEO Michael […]

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EIB issues CBDC-denominated digital bond on Ethereum blockchain

The European Investment Bank (EIB), the European Union’s lending arm, announced Wednesday that it issued its first-ever bond on the Ethereum blockchain.  The bond, issued yesterday, is worth €100 million ($121 million) and will mature on April 28, 2023. Money from underwriters — those assuming risk by buying into a bond — is represented as […]

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