Payments
Third-party risks are a first priority for central banks
Cyber and concentration risks crystallise co-operation between critical infrastructure providers
Sarb sounds alarm on sanctions risk
Central bank says country could face financial isolation if US thinks it arms Russia
Offline digital euro solution could be years away, ECB says
Central bank invited market participants, including Amazon, to carry out front-end protocol tests that included self-custody wallets
Payment security must improve, Norges Bank warns
Norwegian central bank says it will decide on design of new settlement system by 2025
Nigeria CBDC uptake ‘disappointingly low’ – paper
The e-naira is technically sound, but actual use is negligible, says IMF study
NY Fed and MAS test distributed ledger CBDC payments
System averaged 6.48 payments a second, with peak of 47 payments a second
BoK and Samsung strengthen ties on offline CBDC research
Central bank and tech giant to look at ways to minimise security risks with offline CBDC payments
BIS offers guidance on offline CBDC design
Half of central banks say offline payments are “vital” to CBDC design
Fed’s Bowman defends regulatory ‘tailoring’
Governor calls for independent review of SVB collapse, dismissing Barr report
Ethiopia’s central bank issues first foreign mobile money licence
Central bank says there is strong public demand for fintech services
UK regulator and police raid crypto ATM sites
There are no legally registered crypto ATMs in the UK
Fintech Benchmarks 2023 – presentation
Specialist Joasia E. Popowicz discusses CBDCs, cyber security, AI/ML in regtech, suptech and cloud computing
Bank of Canada consults public on CBDC design
But central bank says CBDC not needed “at this time”
Digital euro could be available via bank apps, ECB says
Approval of third round of design options does not entail progress beyond investigation
China to trial paying salaries using CBDC
State employees say finding merchants that accept the e-yuan is difficult
Fed triennial study shows rapid growth in electronic payments
ACH payments contributed to 90% of non-cash payment value increases in three years
Venezuela may join Russian card network
Mir system suffered major setbacks last year after US warning
Federal Reserve denies FedNow is a CBDC
Online sources post disinformation on payment system as anti-CBDC sentiment grows
Central bankers cast doubt on utility of CBDC
“Element of Fomo” drives projects on even when purpose is unclear and resources lacking
Papua New Guinea phasing out cheques
Central bank will stop processing cheques from larger businesses from end-2023
São Tomé gets loan for RTGS upgrade
Island country lacks automated system
Tech could shake up international monetary system – IMF paper
Inertia likely to maintain status quo in near term, but impact of technology “highly uncertain”
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
US regulators fine Wells Fargo for aiding sanctions-busting
Fed and Treasury say bank failed to halt client channelling funds to Iran, Syria and Sudan