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…
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…
The BIS Innovation Hub (BISIH) has developed Nexus, which is a blueprint to connect IPS globally in a multilateral and scalable manner. Nexus achieves this by standardising the way IPS connect to one another by leveraging on a common set of Application…
The Central Bank of the Republic of Türkiye (CBRT) is playing a catalytic role in the development of a “robust and innovative payment landscape,” most notably with the establishment in 2021 of an instant payment system and, more recently, its work on…
The instant payment ecosystem in Africa continues to show increased dynamism, as the number of instant payment systems (IPS) expands and more transactions run through them, as documented in the State of Inclusive Instant Payment Systems in Africa 2023…
The settlement of the Danish krone (DKK) is scheduled to migrate to the European payment and securities settlement platform TARGET Services in 2025. The Danish krone will be the first non-euro currency to be connected to all TARGET Services for payments…
Iceland's journey in the realm of instant payments is historic, dating back to 2002 with the initiation of the Central Bank of Iceland's large value payment system, SG, followed by the introduction of the instant payment system, JK, in 2003. These systems,…
The Central Bank of the United Arab Emirates is actively pursuing digital innovation through the Financial Infrastructure Transformation (FIT) Programme. Among other key objectives, the FIT Programme focusses on driving financial inclusion, promoting…
The possible introduction of a digital euro, in the form of a central bank retail digital currency or CBDC, would be a major project for the euro area and the Eurosystem. It would significantly change the form in which central bank money is made available…
The digital euro will enter a highly competitive, multifaceted, and heterogeneous payments landscape in the Eurozone. As with any other payment method, it needs to provide additional value for the variety of stakeholders to achieve the envisioned acceptance…
