The incorporation of fintech into the Peruvian economy is one of the objectives of the Central Reserve Bank of Peru (BCRP) in 2024.

The participation of fintech companies in the local economy is included in the initiative “Interoperability Strategy for Retail Payments” of the governing body, which has presented a report indicating that with this inclusion “digital payments can become widespread within the Peruvian economy.”

The BCRP is working to integrate the fintech Yape and Plin, two digital wallets that are supervised by the bank. Likewise, it is focused on the “Open Payments” model and the design of its own platform.

The objective is to establish “fair and non-discriminatory conditions that can safeguard the ecosystem from potential risks.”

The legal and technical aspects are a fundamental part of this strategy, since they will allow us to develop our own retail payments platform to integrate fintech and bigtech into the local market.

Currently, fintech platforms operate through the Electronic Clearing House (CCE) and their operations require agreements with an entity already participating within the Chamber itself. This situation generates setbacks that could be resolved by joining the digital payment system under the supervision of the BCRP.

M.Pino

Source: cointelegraph

(Reference image source: Unsplash+, in collaboration with Getty Images)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Peru seeks to integrate fintech into the digital payment system apareció primero en Bitfinance.

The United States Federal Reserve launched a new digital payment system called FedNow, which will facilitate transactions for financial companies, service providers, among others.

Since last June, various testers have been participating in the development of this new Fed tool. Now it is a reality, under strong security standards.

“Early adopters include 41 financial institutions. They participate as senders, receivers and/or correspondents who support the settlement. In addition, 15 service providers processing on behalf of participants and the United States Department of Treasury.

All banks in the country, regardless of size, will have the FedNow payment system available. Transactions will be made in seconds, 24 hours every day of the week, using encryption systems.

The launch of the FedNow digital system is an important change for banking in the United States, which provides facilities for users, greater efficiency to the system, and protection against crimes such as fraud.

M.Pino

Source: bancaynegocios

(Reference image source: Unsplash, in collaboration with Getty Images)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada The Fed launches FedNow digital payment system apareció primero en Bitfinance.

The Bank of England expressed its belief that the digital pound can coexist with private stablecoins. The Bank reportedly indicated that the digital pound could be supplemented with private stablecoins in a digital payment system.

In an interview, Bank of England Governor Andrew Bailey said the currency could help improve efficiency and security in the financial system. He added that the Bank is working on creating a more accessible digital payment system for everyone.

The Bank of England has been investigating the creation of a digital pound since 2019, with the aim of maintaining its role as a leader in financial innovation. The institution also spoke about the importance of having an adequate regulatory approach to guarantee the safety and protection of consumers.

Private stablecoins, on the other hand, are cryptocurrencies that are backed by real assets, such as gold or fiat currency. These digital currencies have gained popularity in recent years due to their stability and the possibility of faster and more secure transactions.

K. Tovar

Source: Cointelegraph

(Reference image source: file)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Bank of England believes digital pound can coexist with private stablecoins apareció primero en Bitfinance.