Opportunities and challenges of CBDC for international payments

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The emergence of central bank digital currencies (CBDC) is gathering speed, with more than half of the world’s central banks actively considering their introduction.

The reasons are varied: to compensate for the reduced use of physical notes; to improve payments in digital retail; to respond to private cryptocurrencies that could threaten the role of fiat money; and to improve resilience and reduce risk in wholesale markets – among many others – according to a new discussion paper Exploring CBDC for International Payments.

Whatever the motivation, the momentum toward CBDCs seems clear and growing. Some central banks are already conducting live

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Banking Circle joins P27 initiative for bulk clearing initiative

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Banking Circle has joined the P27 Nordic payment initiative as a front-runner bank in creating bulk-clearing for the Danish Krone.

Banking Circle joins P27 initiative for bulk clearing

P27 has been acknowledged as a vital initiative to address the disparate clearing systems currently operating across the Nordic region.

Banking Circle sees its membership of P27 as a crucial piece in the jigsaw to remove the cost and time currently experienced in domestic and cross border payments to and from the region.

P27, named for the 27 million people it will serve in the Nordic region, is an initiative between several

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Citi Bank eyes moving into the cryptocurrency market

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Citi Bank is reportedly considering taking its first steps into cryptocurrency markets after a surge in interest from clients.

Citi Bank eyes moving into cryptocurrency

The group is the latest major bank to consider pushing into the new market according to Itay Tuchman, its global head of foreign exchange.

Despite the reputational challenges, large dealers have been forced to respond to surging interest in bitcoin from asset managers and hedge funds.

Tuchman said, in the FT, the bank had not yet decided whether it would offer its clients cryptocurrency-related services, but he said that trading, custody and financing

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COVID Triggers changes in payments habits amongst 80% of consumers

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More than eight in ten consumers (86%) say that their payments habits have changed since the start of the pandemic, with 59% trying a new payment method for the first time – a number which rises to 77% among the 18- to 24-year-old age group.

That’s according to new research, Lost in Transaction report, in which 8,000 consumers were surveyed by Sapio Research in March and April 2021 and covers the US, UK, Canada, Germany, Austria, Bulgaria and Italy.

The research, which was conducted on behalf of Paysafe, explored changing consumer behaviours towards payments.

Unsurprisingly, the key driver cited by

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