CBPN Latest News
CBDC
Kyrgyzstan on the Path to Creating a Digital Som
Like many other countries around the world, Kyrgyzstan is researching and defining an approach to introducing a national digital currency and testing the concept of the digital token (PoC). On May 25, 2022, the Board of the National Bank of the Kyrgyz Republic adopted the Digital Som concept.
Regulations
EMTECH: Managing Risk and Implementing Compliance Processes
One of the most pressing challenges facing fintechs and impacting central banks is how to ensure regulatory compliance. With highly fragmented regulatory requirements, risk monitoring and reporting methods, a more integrated compliance management platform is an essential tool for survival and growth...
Fraud
Lipis Advisors: Get Your Head Out of the Sand — Best Practices in Fraud Prevention
Effectively preventing fraud as well as identifying bad actors and recovering ill-gotten funds requires cooperation among payment system stakeholders. Chief Executive Dr Leo Lipis and Director Andrew Gómez of Lipis Advisors present thoughts about fraud, the challenges involved in preventing it, and ...
Artificial Intelligence
AI 2030: Three Ways AI is Shaping the Central Banking Landscape
Xiaochen Zhang, Chief AI Officer & Executive Director at AI 2030, outlines three ways AI is pushing central banks to evolve and how they can seize this moment to create a future-oriented, frictionless, and personalised financial system for all.
CBDC
Function Before Form - Assumptions to Avoid When Designing Retail CBDC Systems
This whitepaper from Crunchfish highlights the problems of making premature design decisions on CBDC form without realizing its limiting consequences on the function and presents alternatives that are more suited for delivering the desired function. Defining function before form is of paramount impo...
CBDC
Legal Considerations for the Deployment of a Central Bank Digital Currency
The successful pilot testing of the eCedi, the Bank of Ghana’s CBDC, provided practical insights into the legal implications of testing or implementing a CBDC. This paper seeks to offer basic guidance to any central bank or monetary authority that is considering exploring a CBDC.
Settlement
ECB: Financial Industry Adoption of Distributed Ledger Technologies — Implications for Central Bank Money Settlement
The Eurosystem — consisting of the European Central Bank (ECB) and national central banks in the euro area — is analysing the potential impact of emerging technologies, including DLT, on the settlement of wholesale financial transactions. This work was initiated in response to increasing interest wi...
CBDC
Digital Euro Preparations Gain Momentum
This article from Piet Mallekoote highlights the background of the digital euro project and provides an overview of the state of play and challenges. Substantial progress has been made in the euro area in recent years with preparations for a digital euro. A decision to introduce it depends on politi...
CBDC
In Conversation with the Bank of Thailand’s Digital Currency Policy and Development Unit
Central Bank Payments News sat down recently with the Bank of Thailand’s Digital Currency Policy and Development Unit — Kasidit Tansanguan, Nuntapun Bhensook, and Thanaporn Rattanakul — to learn more about the retail digital baht pilot and what’s next for Thailand’s CBDC journey.
In This Issue: September 2024
- This month we're featuring an exclusive update on the National Bank of the Kyrgyz Republic's Digital Som CBDC project, courtesy of Aigul Bakesarieva, Head of the Digital Som Project Group.
- Abhishek Srivastava of the Better Than Cash Alliance provides an overview of interoperable cross-border payment solutions and how these linkages can drive financial inclusion, economic growth, and increased participation.
- EMTECH Founder & CEO Carmelle Cadet discusses the imperative of regulatory compliance and the need to automate and simplify compliance processes.
- And we provide a thorough roundup of the month's news emerging out of central banks, curated lists of must-read reports and speeches, personnel movement, and much more.
