Iceland joins Eurosystem’s Tips
Króna to become fifth currency compatible with instant payments settlement system in 2028
The Central Bank of Iceland has signed an agreement with the European Central Bank to join the eurozone’s Target Instant Payment Settlement (Tips) system.
The central banks announced the decision today (June 24) in separate press releases. The Icelandic króna is expected to join the system in 2028, when the Norwegian krone will also become part of Tips. The two Nordic currencies will join the Danish krone, the Swedish krona and the euro in the system.
The Central Bank of Iceland said joining Tips
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: www.centralbanking.com/subscriptions
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Payments
Syria adopts electronic payment system
Central bank says move will eventually aid country’s reintegration into global financial system
ECB flags risks to cash despite rise in acceptance
Central banks should take active role in preserving cash, spokesperson says
Brics in talks to link CBDCs and payments, says RBI governor
Central Bank of Brazil hunkers down on integrating Pix with other fast payment systems
Sarb governor outlines cautious stance on technological change
Kganyago sets out opportunities and risks of AI and stablecoins as Sarb marks 105th anniversary
Mampho Modise on payments reforms and the hierarchy of money
Sarb's deputy governor discusses conflicting crypto directives, wholesale CBDC plans, expensive remittance and a Brics gold-backed settlement unit
BSP rolls out consumer bill payment and P2P transfer services
Central bank also increases value limit for B2B transfers under existing system
Southern African countries consider joining SADC-RTGS
Mauritius, Tanzania, Zambia and Zimbabwe could onboard their currencies
UAE’s cash card could function as surveillance tech, expert says
Central bank says new scheme will operate within legal framework for customer privacy