Aly Soliman Stablecoins have emerged as an innovative form of money in the financial landscape. While they represent a small fraction of the global financial system, stablecoins have grown by US$30 billion in the last few months (as reported on DefiLlama). The potential effect of stablecoins on the payment industry could be substantial and merits … Continue reading With the arrival of stablecoins, is it time to pay farewell to traditional payment rails?
Payments
James Duffy and James Sanders Understanding a payment’s journey around the globe can be difficult. As the operator of the UK’s high-value payment system (CHAPS), the Bank is all too familiar with this challenge. By leveraging the benefits of the newly introduced ISO 20022 standard for messaging, we have devised a new methodology to identify … Continue reading Payments without borders: using ISO 20022 to identify cross-border payments in CHAPS