Named after the Swahili word for “one,” the Mojaloop open-source software project was established in 2017 by the Bill & Melinda Gates Foundation to address the lack of guaranteed inclusiveness and interoperability within nations’ payment systems to allow…
Since the G20 roadmap was launched in autumn 2020, considerable progress has been achieved across 19 different building blocks (BBs). The authorities internationally have developed a strong understanding of the issues, taken stock of emerging solutions…
While global regulators are rightly promoting the implementation of common standards, fast-developing geopolitical risks could lead to an increasingly fragmented ecosystem instead. This highlights the need for banks and financial services providers to…
In my previous article in this publication a few months after the launch of Buna in 2020, I shared some thoughts on the challenges that cross-border payment systems must tackle to develop and progress. In the past two years, we have been onboarding new…
The Digital Dollar Project is a convener of ideas, people, and organizations to facilitate open experimentation and data collection for consideration. We have set out to explore the thesis that a tokenized U.S. dollar could provide societal and economic…
APIs can significantly accelerate the pace of product and infrastructure development, as well as the integration of various payment systems. The FIS CBDC & Digital Currencies Connected Ecosystem™ can also accelerate delivery of the prototypes, allowing…
The Afghanistan Payments System (APS) was spearheading the modernization of retail banking in the country—and was poised to ride that momentum well into the future—when the Afghan government collapsed in August 2021. Ahmad Shakir Wali, Managing Director…
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.…
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…
The momentum of the FSB roadmap comes at an excellent time as Payments Canada is midway through a multi-year payments Modernization initiative. Guiding our country’s payments Modernization journey are the needs of Canadians, including financial institutions,…
