Fintech
HKMA and PBoC begin technical preparations for digital yuan pilot
HKMA CEO Yue says cross-border e-yuan will offer additional payment options to locals
Big tech poses a risk to competition in payments – RBA’s Lowe
Regulation has not adapted to advances in technology, governor says
SNB’s Maechler: innovation hub in race to catch up with fast-paced markets
Swiss hub is laying foundations for a fast market-monitoring platform
Pressure from Facebook may speed up digital euro development – panellists
ECB does not plan to announce whether it will proceed with digital euro proof of concept until mid-2021
Saudis and UAE say shared CBDC is technically possible
“Project Aber” shows DLT can be used to upgrade cross-border payments, central banks say
BoE selects cloud partner
London-based firm Appvia secures two-year contract to deliver cloud environment
Singapore non-bank firms can use real-time payments systems – MAS
“Major payment institutions” will be able to use two real-time systems from February 2021
UAE central bank opens new fintech office
New office aims to attract international investors, central bank says
Stablecoins could allow for ‘embedded supervision’ – BIS paper
But authors say CBDCs may be a more effective means of achieving the same goal
The world’s first retail CBDC tiptoes into existence
The Bahamas’ e-solutions manager Bobby Chen speaks about how Covid-19 brought forward the nationwide launch of the ‘sand dollar’, and how limits and wallet types are affecting usage
CBDC could improve banking stability – Haldane
BoE chief economist envisages banking sector split between payments and credit provision
Bailey urges co-operation on cyber risk
BoE governor says cyber risks can “go the distance”
How can central banks secure the future of money?
Central banks should start tackling the accounting, legal and policy challenges related to CBDC. This work will shape the future of money, as could be witnessed in Albania
Powell, Lagarde and Bailey express caution on CBDCs
Jay Powell says Fed must get any future CBDC right, rather than “being the first”
MAS warns firms over third-party cyber risks
Ravi Menon warns of risks from open source software and third-party service providers
Regulatory frameworks should apply to activities not institutions – Mester
Cleveland Fed president says policy-makers must increase co-operation and co-ordination on fintech
Cash usage in Norway falls to 4%
Deputy governor says CBDC research is ongoing but any future system would be controlled by the central bank
MAS encourages digital reporting through new grant
Firms can claim up to S$250,000 to implement new technology but only from pre-approved firms
Central banks face fintech ‘balancing act’ in Latin America – BIS paper
Region needs right institutional framework to benefit from rapid rise of fintech, authors say
Disintermediation caused by CBDC can be prevented – research
Central banks can use lender of last resort power and decrease CBDC remuneration
RBA announces wholesale CBDC project
Australia’s central bank partners with ConsenSys and local banks for proof of concept