Fintech
Benchmarking AI in central banks – a question of creative destruction
Central banks are taking cautious steps towards adopting AI but have not prioritised research into its effects
Why Europe cannot afford to delay the digital euro
CBDC would counter the erosion of sovereignty as cash recedes, substitution by foreign digital monies and weaponisation of access, argue Biagio Bossone and Céu Pereira
Hong Kong’s fintech strategy pits AI against AI – Yue
HKMA chief sets out AI focus after regtech adoption reportedly reaches 97%
BoE considering new form of offline payments for UK
Phase two of digital pound work to start next month, as Bailey softens stance on stablecoins
IMF warns of AI adoption resulting in tiered supervision
Advanced economies more likely to use suptech, while EMEs may not be able to afford it
Future-proofing reserve management and monetary operations
Central banks are searching for ways to streamline and optimise by leveraging cloud technology, AI and DLT.
Nexus will connect at least three Asian countries by 2027 – CEO
Company expects to announce winning bidder for contract to build payments platform by year’s end
EEA non-banks to gain direct Target access from October 6
Fintechs to benefit from reaching beyond Sepa, Lithuanian central bank says
South Korea planning to revive paused CBDC programme
Bank of Korea’s Rhee says CBDC may be used to distribute government subsidies
The next step for Africa’s digital economy: fast, inclusive payments
Central banks should lead policy for a payments transformation that benefits all levels of society, argue Jean Pesme and Michael Wiegand
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
Fed ends crypto and fintech supervision programme
“Novel activities” programme will be folded into normal supervisory processes
The cost of inaction on wholesale CBDCs
A gap exists between demand in capital markets and most central banks’ research priorities as evolving risks accrue
The foundations of sovereign finance are quietly evolving
Digital settlement infrastructure is taking shape. Now SSA issuers must decide how, not whether, to participate, argues Domenico Nardelli
Elizabeth McCaul on supervision, new macro-dynamics and investing in suptech
Former ECB Supervisory Board member speaks about Covid-19 and Credit Suisse shocks, regulation debates, the rise of non-banks and what makes tech projects succeed
Financial technologies are increasing AML/CFT risks – EBA
Crypto increasingly used to facilitate crime, while fintech firms prioritise “growth over compliance”
Stablecoins could increase EU’s dependency on US – ECB official
Strategy needed to maintain monetary policy autonomy and financial stability, says Schaaf
BoE and Treasury’s ‘productive tension’ over stablecoins
Experts say Reeves’s bullishness and Bailey’s more bearish stance on assets may be all to the good
Book notes: Central banking at the frontier, by Thammarak Moenjak
This well-structured book provides a comprehensive overview of the challenges digitalisation poses for finance and includes possible actions for central banks
RBA announces private partners for wholesale tokenisation project
Central bank to issue CBDC on third-party platforms and work with Australian dollar stablecoin issuers