Central Banks

The Federal Reserve announced that its new system for instant payments, the FedNow® Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.

The Programme comprises nine (9) key initiatives to enable the UAE’s competitiveness to become the financial and digital payment hub and a centre of excellence for innovation and digital transformation.

Collaboration of Mastercard, Central Bank of The Bahamas and Island Pay gives people additional option to use The Bahamas Sand Dollar central bank digital currency

The Central Bank of Turkey's new system will allow fund holders to transfer money between their accounts at different banks within seconds on a 24/7 basis.

Russian Central Bank announced the possible issue of a digital ruble that can appear on the Russian market at the end of 2021.

Beijing is creating its own government-ruled digital currency. China seeks to have its planned sovereign digital currency ready in time for the 2022 Winter Olympics.

The Central Bank of Bahrain launches a first of its kind fintech platform to drive innovation in the region.

The European Central Bank (ECB) is serious about to issuance of a Digital Euro. Public consultation and experimentation to be launched soon.