Instant Payments for the Maldives: The Maldives Payment System Development Project

To capitalize on the technological developments in the global payments arena and the country’s strong telecommunication infrastructure, the MMA identified the need for a sound and inclusive, digitally enhanced network that will address the obstacles in…

CBDCs and Experimental Exploration

Like any other disruptive innovation, when a newly emerging phenomenon is addressed, the recommended approach is an experimental exploration. Central banks worldwide are now engaging in this process, as experts have yet to determine the specific steps…

Visa - Pyramids, Partnerships, and Choice: In Praise of an Open Payments Ecosystem

Visa Economic Empowerment Institute (VEEI) research found that small businesses which were digitally enabled and connected to global and regional marketplaces fared better during the pandemic than firms that were not; these digitally enabled and connected…

Will CBDCs Disrupt the Financial Sector?

Central bankers worldwide fear that a CBDC introduction could lead to destabilizing effects in the financial sector. In this article, we discuss why this so-called disintermediation is indeed a threat and provide a simulation to quantify these effects…

Bank of Canada: Towards a Digital Canadian Dollar - If, How, When

While we do not see a need now to issue a CBDC, we are preparing for a day when the Government of Canada may give us the green light to launch a viable CBDC that Canadians could use with confidence. Our research on policy and design has shifted accordingly,…

Colombia: New Regulation for the Low Value Payment System

Based on the experience and regulations of other countries, such as the United Kingdom, Singapore, and Brazil, Decree 1692 of 2020 sets a new architecture for the low value payment system in Colombia. It adds objectives and principles for the operation…

Global Payments Summit: Toward Digital Sovereignty of European Retail Payments

The latest edition of the Europe Global Payments Summit, hosted online by Currency Research on 30 March, featured a high-profile panel on retail payments in Europe, bringing together a public and a private sector initiative ”with aligning views” on how…

Bangladesh: Payment Systems Development

The financial landscape of Bangladesh has been rapidly transforming, driven by deeper forces: i) the adoption of financial technology led by the omnipresence of the internet and availability of power; ii) opportunities created by the demographic dividend…

EMTECH: The Coming Modernization of Central Banking

EMTECH is the fintech of Modern Central Banking, helping regulators leapfrog existing regulatory frameworks and systems, and to adopt an innovation mindset as well as an innovation toolset, says D.R. Maurice, Chief Risk & Policy Officer. A Modern Central…

CBDC Tracker: Classifying and Comparing Worldwide CBDC Projects

To provide a detailed database for CBDC projects, we have set up the CBDC Tracker. The CBDC Tracker is an open-source tool gathering CBDC-related information worldwide. The CBDC Tracker can be used to compare CBDC projects according to a broad array of…