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Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.
Stablecoins
Libra Association to Launch Scaled-down Digital Currency in January
By Editors | 03/12/2020
The launch date depends on regulatory approval from FINMA, expected as early as January. A new name has been adopted for the association and the digital currency.
Payments & Settlements
Lloyds UK Launches First Live Link of ‘SWIFT gpi Instant’
By Editors | 03/12/2020
Remittance payments from anywhere in the world destined for the UK routed through Lloyds can arrive in seconds with fee and foreign exchange transparency.
Payments & Settlements
HKMA Unveils New FPS Feature Allowing Link to HKID
By Sanday Chongo Kabange | 02/12/2020
From 6 December onwards, individuals can link their HKID numbers to a bank account to conveniently receive payments, the HKMA said.
Anti-Money Laundering
FATF Consults on AML/CTF Frictions in Cross-border Payments
By Editors | 01/12/2020
The FATF seeks feedback to help identify how divergent AML/CFT measures adopted at the national level add to the challenges of cross-border payments.
Payments & Settlements
APRA Grants TransferWise Licence to Directly Access NPP
By Editors | 30/11/2020
Access to Australia’s real-time payments system will enable TransferWise to reduce foreign exchange fees and wholesale banking costs.
Payments & Settlements
Singapore E-wallets to Gain Direct Access to FAST, PayNow
By Manesh Samtani | 30/11/2020
Consumers will be able to top-up their e-wallets directly through their bank accounts, rather than using a debit or credit card. Fund transfers between e-wallets will also be made possible.
Payments & Settlements
Australia, Singapore to Trial Paperless Trade Using Blockchain
By Editors | 29/11/2020
The Australian Border Force, Singapore Customs, and IMDA, as well as industry groups and financial institutions, will participate in the trial.
Trading & Investment
TFEX Announces Launch of Japanese Rubber Futures Contract
By Editors | 29/11/2020
The cash-settled rubber futures contract will use the Osaka Exchange’s RSS3 futures delivery prices as settlement prices on the Thailand Futures Exchange.
Payments & Settlements
Myanmar Launches New Interbank Payment, Settlement System
By Sanday Chongo Kabange | 29/11/2020
Modelled after Japan’s national payment system, the new system is expected to enhance straight-through processing between the central bank and FIs.
Clearing & Post-Trade
HKEX Outlines Derivatives Market Enhancements for 2021
By Editors | 26/11/2020
Market participants who plan to trade or clear selected derivatives contracts during Hong Kong public holidays will be asked to demonstrate technical readiness.
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