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Bank-backed DLT-based CBDC platform Project MBridge reaches MVP stage

/payments

Bank-backed DLT-based CBDC platform Project MBridge reaches MVP stage

The Bank for International Settlements says it multi-central bank CBDC platform, Project mBrige, is ready to accept value added products and new use cases as it reaches minimum viable product stage (MVP).

Nium retains Unicorn status on $50 million Series E

/payments

Nium retains Unicorn status on $50 million Series E

Cross-border B2B payments operator Nium has raised $50 million in a Series E funding round.

Payment identity network iPiD secures $5.3 million funding round

/identity

Payment identity network iPiD secures $5.3 million funding round

Founded by a team of former Swift executives, iPiD (International Payment Identity) has raised $5.3 million to roll out a Confirmation of Payee product across Europe.

Commerzbank joins Tenity to launch sustainable finance accelerator

/sustainable

Commerzbank joins Tenity to launch sustainable finance accelerator

Commerzbank is joining forces with startup incubator Tenity to launch a joint innovation accelerator for sustainable finance.

BBVA to issue financial sector's first biodiversity bond

/sustainable

BBVA to issue financial sector's first biodiversity bond

BBVA Colombia and IFC are to issue the financial sector’s first biodiversity bond.

Turkey's Papara partners DriveWealth to offer customers US stock trading

/markets

Turkey's Papara partners DriveWealth to offer customers US stock trading

Turkish fintech Papara is working with DriveWealth to offer its 20 million users the ability to invest real-time in US stocks on the Nasdaq and Nyse.

Equals Money and Zūm Rails make BaaS plays

/payments

Equals Money and Zūm Rails make BaaS plays

Equals Money, a payments provider for company expenses, has launched a Banking-as-a-Service product to helping businesses offer their own digital payment and card services.

Visa looks to generative AI to enhance tokenisation

/payments

Visa looks to generative AI to enhance tokenisation

At Money 20/20 Europe, Mehret Habteab, senior VP of product and solutions at Visa Europe, announced the company generated $40 billion in incremental e-commerce revenue globally, after issuing over 10 billion tokens since their launch in 2014.

Revolut building towards primary banking

/retail

Revolut building towards primary banking

David Tirado Blanco, VP profitability and global business, Revolut, appeared at an opening session of Money 20/20 today where he stated that their key focus moving forward is to “go deeper into primary banking”.

Mastercard and bunq forge AI open banking partnership

/retail

Mastercard and bunq forge AI open banking partnership

Mastercard and bunq have announced their partnership to create an open banking and AI tool at Money 20/20 Europe.

UK trials 'super ATM' that will accept deposits for multiple banks

/payments

UK trials 'super ATM' that will accept deposits for multiple banks

The UK's Link ATM network is testing a new breed of cash machine capable of accepting desposits for multiple banks.

Central banks to test FX settlement in wCBDC

/payments

Central banks to test FX settlement in wCBDC

The Bank for International Settlements (BIS) is launching Project Rialto to explore how instant cross-border payments could be improved using a modular foreign exchange component combined with settlement in wholesale central bank digital currencies (wCBDC).

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