Payments Research

Nov

Citi and Swift trial delivers fiat-digital currency PvP settlements

The collaborative trial between Citi and Swift marks a crucial advancement in the evolution of cross-border transactions, demonstrating the technical feasibility of achieving a Payment-versus-Payment (PvP) workflow for settling transactions between traditional fiat currencies and digital currencies. This successful pilot represents a critical step toward creating a robust, risk-mitigated future…

Nov

Payments Research

Project Mandala enters phase 2 as it pushes for automation in cross-border payment compliance

The transition of Project Mandala to its second phase marks a pivotal advancement in the global effort to resolve the regulatory friction inherent in cross-border financial transactions. This initiative, led by the Bank for International Settlements (BIS) Innovation Hub Singapore Centre in collaboration with central banks including the Reserve Bank…

Nov

Payments Research

Nium secures payment institution license in Brazil paving the way for direct operations and real-time payments

Nium, a leading global infrastructure for real-time cross-border payments, has reached a significant milestone by securing a Payment Institution (PI) license from the Central Bank of Brazil. Announced on October 27, 2025, this formal authorization marks a major step in the company’s continued expansion across Latin America, positioning Brazil as…

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