Oliver Wyman’s Post

The growing ties between Asia and the Middle East are set to revolutionize cross-border payment solutions, reshaping the global payment landscape. The New Silk Road encompasses a vast and complex network, where daily transactions span 50 countries and over 60 currencies. This dynamic environment serves as a natural sandbox for innovation, from fast payment networks to central bank digital currencies (CBDCs). Watch the video from Juin Keek and discover more about the transformation of the payment industry in our New Silk Road content hub > https://owy.mn/3R7GphZ #NewSilkRoad #Payment #Innovation

Last week we joined PaymentsEd ’s annual Forum.  Check out some of the highlights we shared during the event: 💡 Peter Kovacs and Adrielle Andrade from HBO Max & dLocal respectively shared collaborative insights about business expansion into #Latinamerica. 🇧🇷 #Brazil's Central Bank announced #DREX, their digital currency. 🌍 dLocal's educational panel discussed the rise of eWallets in Asia and the Pacific, how this trend is impacting Africa, and the remarkable growth of #Pix in Brazil. Stay tuned for exciting trends and insights at the following events! Discover where you can meet dLocal's experts next: https://lnkd.in/dP2Fc4VK  #PaymentsEdSanDiego #GlobalPayments #Payments #dLocal #EmergingMarkets 

Exciting developments in Central Bank Digital Currencies (CBDCs) are underway globally, with more than 130 countries exploring this innovative payment solution. Learn about the latest insights and technologies driving this evolution in the Nilson Report. From China's e-CNY pilot to G+D Filia's role in enabling retail payments, stay informed with the Nilson Report. For the full article and everything else included in the Nilson Report, you will need to subscribe here: https://lnkd.in/eYnEm_Yq #CBDCs #DigitalPayments #NilsonReport

The #payments sector has undergone a profound transformation, reshaping the way we handle our finances, conduct business, and interact with the global economy 🌍 From central bank digital currencies to cross-border payments, global connectivity and tokenisation, Head of Technology Rhys Merrett analyses the evolution of payments and the prominent trends leading into 2024 ➡️ https://bit.ly/3SG8G0l

🔎 💱 The following link guides us to a study prepared by the World Bank Group in 2021 that sought to review experiences related to "Central Bank Digital Currencies for Cross-Border Payments". It's an analysis that, in my opinion, is quite well achieved and contains essential information that will be used for the development of my final article. I invite you to read the paper! https://lnkd.in/etcsccJW #QBSMScBloggers #QBSMScManagement #QUBMScManagement

If you are interested in in learning about CBDCs (Central Bank Digital Currencies) and European Bank's ambitions for the Digital Euro, you should join Flagship Advisory Partners' webinar on CDBDs today at 17.00 CET. In this session, Flagship team will delve into definitions, characteristics, use cases, and potential impact CBDCs have on stakeholders in the wider payment ecosystem, and outline key characteristics of the Digital Euro as proposed by the ECB. The registration to the webinar is below: https://lnkd.in/en5uid9C

🚀💸 Big news for your wallet from the high tables! The Bank for International Settlements is teaming up with the NY Fed and six other big-shot central banks to turbo-charge international payments. How? Through the magic of tokenization! ✨🌍 They're diving into a trial alongside a bunch of private finance wizards to see if they can mix central bank digital cash with regular bank deposits on a single tech-savvy platform. Could this be the future of fast and secure global transactions? Stay tuned! 💼🔍 #FinanceFuturism #DigitalDollars

💰 The #Payments landscape is rapidly evolving as a growing number of jurisdictions consider the introduction of central bank digital currencies (#CBDCs), the development of private-sector alternatives and significant regulatory changes. In our webinar tomorrow, our expert panel will explore the impact of these changes across the globe, including the legal challenges that must be addressed. They will also discuss the opportunities that private alternatives to CBDCs – such as stablecoins and tokenised cash deposits – offer for facilitating faster settlement, for digital securities and more widely, and how global legal frameworks are adapting accordingly. Register your interest: https://lnkd.in/eY-kZtwV Marc Benzler Jane Chen Laura Douglas Jack Hardman, CFA Young Kim #Fintech

China pilots e-CNY Cross-border payment in Hong Kong The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) have made further progress in the e-CNY pilot for cross-boundary payments, to expand the scope of e-CNY pilot in Hong Kong to facilitate the set up and the use of e-CNY wallets by Hong Kong residents, as well as the top-up of e-CNY wallets through the Faster Payment System (FPS). The interoperability between the FPS and the e-CNY system operated by the Digital Currency Institute (DCI) of the PBoC also marks the first linkage of a faster payment system with a central bank digital currency system in the world. It provides an innovative use case which underscores interoperability, a key area set out in the G20 Roadmap for enhancing cross-border payment

The race to find more efficient cross-border payment solutions, including, stablecoins, tokenization of deposits, and central bank digital currencies, is well underway. A few days ago, the Bank for International Settlements made a surprise announcement…the launch of Project Agorá which will explore tokenization of cross-border payments. The big question is, will the project eliminate the need for SWIFT - the messaging system that underpins international payments? Emerging markets regularly denounce the fact that their cross-border payments need to be processed through SWIFT, or that SWIFT enables the weaponization of the USD. Project Agorá aims to move tokenized deposits and central bank money onto a unified ledger which will permit payment and settlement in a single action. #banking