All articles tagged with #wholesale payments
The European Central Bank (ECB) has launched Pontes, a new platform enabling wholesale banks to settle tokenized asset transactions using central bank money. This move aims to reduce reliance on US-dominated payment networks and private stablecoins. While the retail digital euro faces legislative hurdles, the ECB plans to invest its own funds in tokenized securities via this new infrastructure to gain practical experience.
A survey conducted by the Bank for International Settlements (BIS) revealed that around 24 central banks across emerging and advanced economies are expected to have digital currencies in circulation by 2030. The majority of these Central Bank Digital Currencies (CBDCs) will be in the retail space, with several central banks already running live digital retail currencies. Additionally, nine central banks are considering launching wholesale CBDCs to enhance cross-border payments. The survey also highlighted that the share of central banks engaged in CBDC development has risen to 93%, with 60% citing the acceleration of stablecoins and other cryptoassets as a driving factor.