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Systems

BoE’s Cunliffe: Public and Private Sector Must Collaborate on Cross-border Payments

“The public and private sectors must collaborate to ensure new forms of wholesale and retail cross-border payments work together smoothly, Bank of England (BoE) Deputy Governor Jon Cunliffe said on Tuesday. The world’s largest central banks, including the BoE, are looking at developing digital currencies that could play a role in making international payments faster […]
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Domains

Multi-CBDC Arrangements and the Future of Cross-border Payments

“Cross-border payments are inefficient, and technology could play a role in making them better. One means could be through interoperating central bank digital currencies (CBDCs), forming multi-CBDC (mCBDC) arrangements. This paper explores dimensions of payment system interoperability, how they could feature in mCBDC arrangements and where potential benefits lie. These benefits are especially relevant for emerging market economies poorly served […]
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Systems

Jamaica to Pilot CBDC Later This Year – CoinDesk

“Jamaica is planning to launch a central bank digital currency (CBDC) in 2022.  While giving the annual National Budget Debate address before the national legislature on March 9, Jamaica’s Minister of Finance, Nigel Clarke, announced the CBDC will be piloted in December ahead of launch. The government of Jamaica views the accelerated transition to a […]