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Payments
National Bank of Ethiopia: Innovative and Inclusive Payments
In July 2021, the National Bank of Ethiopia launched its first ever National Digital Payments Strategy, an ambitious initiative that aims to build an innovative payments ecosystem in support of a cash-lite and inclusive economy. Central Bank Payments News spoke to the National Bank’s Solomon Damtew ...
Payments
BankservAfrica: Africa’s New Cross-border Payments Scheme is Open for Business
Creating a cross-border payments ecosystem that delivers collaborative value between authorised financial institutions across the Southern African Development Community is possible through a new, world-first African payments scheme that is fully operational. Ruhling Herbst, Programme Sponsor for TCI...
Payments
Digital Frontiers: Capacity Building for the Central Bank Digital Currency Journey in Emerging Market and Developing Economies
This year, the Digital Frontiers Institute convened the first CBDC Workshop focusing on emerging market and developing economies. The workshop aimed to: Firm up the understanding of the definition of CBDCs; Increase understanding that the CBDC “pathway” is not a straight line, but that there are man...
Payments
Visa: Getting Digital Currencies to Talk to Each Other
In September, Visa published a pair of CBDC reports about Universal Payment Channels (UPCs). The specifics of UPCs are laid out in the research paper Universal Payment Channels: An Interoperability Platform for Digital Currencies. The second paper, Cross-border Payments for Central Bank Digital Curr...
Payments
Journey to a Bahamian Digital Dollar
Project Sand Dollar is a Central Bank of The Bahamas initiative to promote more inclusive access to regulated payments and other financial services for unbanked and underbanked communities and socio-economic groups. Additionally, by introducing this retail CBDC, the Central Bank expects to reduce se...
Payments
Bank of Israel: Spurring Paytech Innovation in Smaller Developed Markets
In recent years, at the Bank of Israel we have resolved to lead game-changing initiatives in the payments space. Our intent is not only to close gaps that have emerged between Israel and the global payments scene, but also to proactively lead in areas that are sensible to the domestic market. We see...
IN THIS ISSUE: October 2021
- The world’s first CBDC, the Sand Dollar, turns 1 this month! To commemorate the occasion, Allison Middleton and Martiniqua Moxey of the Central Bank of The Bahamas describe the journey to a Bahamian digital dollar and what lies ahead.
- Oded Salomy, Director of the Payment and Settlement Systems Department at the Bank of Israel, explores the many ways in which Israel is spurring domestic Paytech innovation and the challenges faced by small but developed markets.
- And in our Industry Profile, Samia Ferradj of StoneX talks with Jean-Michel Godeffroy about how StoneX is working with central banks to make cross-border payments more efficient and less costly.
- Plus, we’ll catch you up on all the latest news, reports, and people on the move from the past month
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