Tagged: central bank

Reserve Bank of India to Allow Local Banks and Fintech Firms to Use Video Calls to Complete Know Your Customer Checks

Indian banking institutions and Fintech firms have reportedly been given the green light to use video calls, in order to carry out know-your-customer (KYC) compliance checks, after a recent ruling by the nation’s central bank. The updated rules and guidelines will allow regulated entities to… Read More

Russia’s Central Bank Is Reportedly Testing Several Stablecoins, Head of Reserve Bank Elvira Nabiullina Confirms

The Bank of Russia, the nation’s central bank, is reportedly testing various stablecoins, which are pegged to major fiat currencies or other types of real-world assets in a regulatory sandbox environment. Head of the Russian reserve bank, Elvira Nabiullina, says that the institution does not… Read More

The Bahamas’ Central Bank to Launch Digital Currency

The Bahamas’ Central Bank announced earlier this week that it will introduce a digital version of the Bahamian dollar, starting with a pilot phase in Exuma later this month, and extending in the first half of 2020 to Abaco. According to the bank, this initiative… Read More

CBDC: Sweden’s Central Bank, Riksbank, Reveals It’s Considering Issuing E-Krona As Cash Use has Declined

The central bank of Sweden, the Riksbank, is responsible for promoting the development and maintenance of an efficient and secure payment system. The reserve bank acknowledges that this task may become more challenging if cash is no longer widely accepted as a means of payment… Read More

Hungary Is “Behind Everyone” When It Comes to Adopting Latest Digital Banking Technology, Says Senior Law Firm Executive

A senior executive at CMS, a law firm working with the National Bank of Hungary (MNB) on its Fintech strategy, says Hungary is “behind everyone” when it comes to adopting the latest digital banking technology. The CMS executive stated: “Hungarians do not use sophisticated Fintech… Read More

Medici Ventures’ Portfolio Company Bitt to Use Blockchain Technology to Conduct a Central Bank Digital Currency Pilot Across Eastern Caribbean Currency Union’s Member Countries

Medici Ventures, a blockchain accelerator and subsidiary of Overstock.com, Inc. (NASDAQ:OSTK) announced on Wednesday its portfolio company Bitt is using blockchain technology to conduct a Central Bank Digital Currency (CBDC) pilot across the Eastern Caribbean Currency Union’s (ECCU) member countries. Founded in 2013, Bitt’s mission… Read More

Google Receives Payment Institution Authorization From Ireland’s Central Bank

Google (NASDAQ:GOOG) has received payment institution authorization from Ireland’s Central Bank. According to Irish Times, the Central Bank granted authorization to Google Payment Ireland under the second Payment Services Directive (PSD2) regulation. The company will now be allowed to issue and acquire payments across the European Union (EU)… Read More

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