If commercial banks don’t provide retail payments innovation, central banks should be prepared to offer a retail central bank digital currency (CBDC), Bank of England Governor Andrew Bailey said Saturday (Oct. 26). In a speech given at the Group of Thirty’s Annual International Banking Seminar...
If the U.K. adopts a digital currency, citizens shouldn’t expect cash and coins to disappear. That’s according to Bank of England Governor Andrew Bailey, who said Saturday (Oct. 26) that the central bank will continue to provide paper money “for as long as people want.” ...
PayPal has reportedly completed its first business payment with its in-house stablecoin. This was done to show how digital currencies could be used to improve upon what are often muddled commercial transactions, Bloomberg News reported Thursday (Oct. 3), citing interviews with company officials. The payment — PayPal did...
Treasury Secretary Janet Yellen said Thursday (Sept. 26) that it takes continuous work to build and maintain a resilient financial system. In remarks prepared for delivery at the 2024 U.S. Treasury Market Conference, Yellen outlined financial regulators’ work related to banks, nonbanks and “cross-cutting risks”...
June 14, 2024
There’s a new on-chain token in town, and it’s not the one you’re thinking of. While there exists a variety of “tokens” within the 21st-century payments and financial services landscape, with innovations ranging from cryptocurrency tokens to tokenized payments, it is a third token, tokenized commercial bank assets — or deposit tokens — that are […]
February 21, 2024
In Europe, a central bank digital currency (CBDC) has inched closer to reality, by virtue of a vote. As a result, the United States may have to play a bit...
September 05, 2023
In Europe, the digital currency battleground is shaping up to be one where the central banks are on one side, and private issuers are on the other. And it may...
September 05, 2023
As currency becomes increasingly digitized, more end users are able to reap its benefits, in turn feeding an underlying network effect of increased market participants and inclusion. “There are many...
October 29, 2024
Binance says it has become the first crypto exchange to offer a wealth management solution. Binance Wealth, announced Tuesday (Oct. 29), lets wealth managers oversee the onboarding of their clients and make investment recommendations, and get support during onboarding and afterward, similar to traditional wealth management. “Binance Wealth is the first crypto exchange solution enabling […]
October 28, 2024
If commercial banks don’t provide retail payments innovation, central banks should be prepared to offer a retail central bank digital currency (CBDC), Bank of England Governor Andrew Bailey said Saturday...
October 27, 2024
If the U.K. adopts a digital currency, citizens shouldn’t expect cash and coins to disappear. That’s according to Bank of England Governor Andrew Bailey, who said Saturday (Oct. 26) that...
October 03, 2024
PayPal has reportedly completed its first business payment with its in-house stablecoin. This was done to show how digital currencies could be used to improve upon what are often muddled commercial...
