Tag: Digital

Digital rupee gets big usability boost through Yes Bank integration with UPI

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The Reserve Bank of India (RBI) central bank digital currency, the digital rupee, will have enhanced usability, Yes Bank announced Aug. 30. This was thanks to Yes Bank’s integration of the Unified Payments Interface (UPI) with the RBI digital rupee app. Now, Yes Bank account holders will be able to make transactions with the digital rupee by scanning UPI QR codes. The UPI is a national payment portal operated by the National Payments Corporation of India (NPCI), a division of the RBI. The NPCI provides the infrastructure for both the…

IBM proposes ideas for digital euro implementation

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A group of IBM specialists has prepared some ideas regarding implementing the digital euro that the European Commission could consider. The tech consulting company highlighted five topics that could help design the digital currency. The five areas where the company focused on the draft were: Build on existing rails and provide enhancements for the digital euro. Extend PSD2(3) with a standard digital euro API for incumbents, FinTechs, and TPPs. Allow strong privacy for low-value proximity payments,…

Altcoin Diversification Is Aim of HashKey Capital’s $100M Digital Asset Fund

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IBM Consulting Provides Guidance for Implementing Digital Euro CBDC

IBM said that simplicity will play a crucial role in the initial adoption of Digital Euro, emphasizing that familiarity strengthens this process. As we know, the European Union has been working on its own central bank digital currency (CBDC) aka Digital Euro, and has been receiving consultations from global tech players. Tech giant IBM has recently shared a few ideas to make the Digital Euro a success. It proposed a list of five recommendations for designers to assist the European Central Bank (ECB) in successfully integrating its digital currency into…

IBM offers guidance for successful implementation of digital euro

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IBM has some ideas about what it will take to make the digital euro a success, which it shared in a recent blog post. It suggested five items for designers to help the European Central Bank (ECB) digital currency “enter the highly competitive, multifaceted, and heterogeneous payments landscape in the Eurozone.” Some of IBM’s points are already found in the European Commission (EC) legislative proposal. “Build on existing rails,” the first point, is already foreseen in the EC plan, although it can be extended, the five authors said. Simplicity will be…

Spain’s central bank expects digital euro to enhance financial services 

The deputy governor of the Spanish national central bank, Margarita Delgado, has spoken about the future of the digital euro and how private payment solutions will interact with it. Speaking in line with the recently proposed digital euro legislative plan, Delgado reveals that it is expected that the digital euro will help the private sector’s development of pan-European payment and financial services.  She believes these developments will make the continent’s financial system easier to compete with non-European solutions. Central bank digital currencies (CBDCs) are becoming increasingly popular. Currently, about 130…

Spanish central bank official talks about private payment services in era of digital euro

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Deputy Governor of the Bank of Spain Margarita Delgado spoke to university students and others about the introduction of the digital euro in Pamplona on Aug. 25. Looking into a future through the lens of the European Commission’s recently proposed digital euro legislative plan, she spoke at length about how private payment solutions will interact with the digital euro and its infrastructure. The digital euro can help the European Union overcome challenges such as cross-border payment barriers, the costs to businesses of using private payment service providers (PSPs) and the…

IRS releases draft of proposed reporting rules for digital asset brokers

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The Internal Revenue Service (IRS), the agency responsible for tax collection in the United States, released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers would be required to use a new form to report to simplify tax filing and cut down on tax cheating. The proposed Form 1099-DA would “help taxpayers determine if they owe taxes, and […] avoid having to make complicated calculations or pay digital asset tax preparation services in order to file their tax returns,” according to a Treasury…

Crypto Exchange Backed by Fidelity, Citadel and Charles Schwab Set To Use Anchorage Digital As Custodian

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A new crypto exchange supported by the world’s biggest financial institutions is tapping into the digital asset management services of the crypto platform Anchorage Digital. In a statement, EDX Markets (EDX) says Anchorage Digital will be the custody provider of its clearinghouse arm, EDX Clearing, which is set to launch later this year. EDX CEO Jamil Nazarali says the decision to partner with the San Francisco-headquartered digital custodian takes into account that Anchorage Digital’s crypto-native bank has a banking charter from the Office of the Comptroller of the Currency (OCC),…