CFO Dive

AUGUST 1, 2023

Mark Shifke steps into the company’s top finance seat as it wraps up bankruptcy proceedings for one of its subsidiaries amid sharpening regulatory scrutiny of the crypto space.

Currencies 210

Currencies CFO Finance 210

Strategic Treasurer

MAY 18, 2023

Session 86 Coffee Break Session: What Is Digital Currency? In this episode, Paul Galloway and Jason Campbell discuss digital currency and its implications for treasury professionals. Series Episodes The post 86: What Is Digital Currency? Crypto has been gaining popularity in the past decade.

Currencies 52

Currencies Treasury B2B Finance 52

Future CFO

JUNE 20, 2023

The IMF announced recently a plan to launch a global digital currency platform for central banks. The platform for central bank digital currencies (CBDCs) will enable transactions between countries, said IMF Managing Director Kristalina Georgieva. The post IMF to launch global digital currency platform appeared first on FutureCFO.

Currencies 52

Currencies Investments Banking Planning 52

PYMNTS

DECEMBER 18, 2020

To that end, the Bahamas may stand out as an epicenter of sorts for the rise of central bank digital currencies (CBDCs). As reported by Reuters , the Sand Dollar – a new digital currency issued and backed by the Bahamian central bank – is now in circulation, and bit by bit, has been making inroads into retail use cases.

Currencies 142

Currencies Banking Compliance Retail 142

PYMNTS

SEPTEMBER 9, 2020

Mastercard has announced a new virtual testing platform for Central Bank Digital Currencies (CBDCs). The testing tool comes as the global economy embraces digital payments and central banks investigate how to support innovation while maintaining financial stability as they issue the currency. In a Wednesday (Sept.

Currencies 132

Currencies Banking Economics Securities 132

PYMNTS

NOVEMBER 15, 2020

Bank of England Deputy Governor Jon Cunliffe said it isn't his job to shield banks from the coming shift to digital currencies, Reuters reported. Andrew Bailey , governor of the BoE, said over the summer that the BoE is closely examining how the idea of a digital currency would work. at the cutting edge of payments innovation.

Currencies 103

Currencies Banking Economics Planning 103

PYMNTS

DECEMBER 6, 2020

Citigroup will be helping governments around the world establish sovereign digital currencies, or central bank digital currencies (CBDC), CEO Michael Corbat says, according to a report from CoinDesk. 4), Corbat said the development of such digital currencies was likely inevitable with the way money has been trending.

Currencies 114

Currencies Banking Marketing 114

CFO News

FEBRUARY 15, 2024

Speaking virtually on the SPMCIL's foundation day, Sitharaman highlighted the possibility of increasing adoption of digital currencies, indicating potential challenges for SPMCIL's core business of printing currencies.

Currencies 52

Currencies Finance Securities 52

PYMNTS

OCTOBER 19, 2020

19) on the bank’s potential rollout of a digital currency. Powell warned of potential downsides to the launch of a digital currency that need to be considered, arguing that the first priority should be to “get it right than to be the first,” Reuters reported. The Fed chief, noting that the U.S.

Currencies 108

Currencies Banking Financial Systems 108

CFO News

FEBRUARY 16, 2024

Vasudevan, an executive director at the Reserve Bank of India (RBI), stated that cryptocurrencies lack underlying value and therefore cannot be considered as currencies. The RBI has expressed concerns about cryptocurrencies like Bitcoin, citing potential systemic risks to financial systems.

Currencies 52

Currencies Financial Systems Banking 52

Strategic Treasurer

JANUARY 21, 2022

Coffee Break Session: What Is Digital Currency? What is digital currency? Coffee Break Session Host Alexa Cook catches up with Strategic Treasurer’s Managing Partner, Craig Jeffery, to discuss what digital currency is, how it is being used, and some examples of digital currency. The post 54: What Is Digital Currency?

Currencies 52

Currencies Treasury Finance Technology 52

PYMNTS

MAY 16, 2020

patent on a computer system that would convert physical dollars and other fiat currencies into digital versions, complete with denominations and serial numbers and recorded via blockchain. The system would then remove the paper currency from circulation. A central entity may implement a monetary policy and issue currency.

Currencies 128

Currencies Securities Banking Numbers 128

PYMNTS

SEPTEMBER 4, 2020

China's yuan could become the world’s third-largest reserve currency in the foreseeable future due to increased foreign investment in Chinese companies, analysts at Morgan Stanley conclude in a report distributed Friday (Sept. Reserves are funds central banks hold in currencies other than their own. 4) and cited by CNBC.

Currencies 94

Currencies Banking Finance Investments 94

CFO News

MARCH 7, 2024

The Reserve Bank of India and the Bank of Indonesia signed a MoU to promote the use of local currencies for cross-border transactions, enabling exporters and importers to invoice and pay in their respective domestic currencies, optimizing costs and settlement time for transactions.

Currencies 52

Currencies Banking Invoicing Economics 52

Cube Software

JUNE 12, 2023

What is a multi-currency account? Multi-currency accounts, sometimes called foreign currency accounts, are special bank accounts that allow users to send and receive payments across currencies from multiple countries.

Currencies 52

Currencies Accounting Banking 52

PYMNTS

DECEMBER 2, 2020

Visa will provide a credit card that allows companies to make and get payments with the digital currency via the card once Circle graduates from Visa’s Fast Track initiative. As it stands, the payment firm has onboarded 25 digital currency wallet companies with its Fast Track program such as Cred and Fold. “We

Currencies 81

Currencies Invoicing B2B 81

PYMNTS

MAY 21, 2020

The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. Patent and Trademark Office that would create a digital currency underpinned by blockchain technology. A central entity may implement a monetary policy and issue currency.

Currencies 97

Currencies Banking Retail Accounting 97

PYMNTS

FEBRUARY 21, 2020

Sweden’s Riksbank is assessing e-krona, a new form of digital currency that hopes to take the country a step closer to the creation of the world’s first central bank digital currency (CBDC), according to reports on Thursday (Feb.

Currencies 105

Currencies Banking Math Economics 105

CFO News

JANUARY 2, 2023

Demonetisation of the high value currency notes of Rs 500 and Rs 1,000 did not have any discernible impact on currency in circulation (CIC) in the country, which has soared by almost 83 per cent since its announcement on November 8, 2016. The Supreme Court on Monday upheld the decision of the government on demonetisation.

Currencies 52

Currencies 52

PYMNTS

DECEMBER 26, 2019

The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release. The intent is to start a fully-fledged central bank digital currency (CBDC). 27) in Exuma.

Currencies 83

Currencies Banking Retail Accounting 83

PYMNTS

JANUARY 20, 2020

Add Australia to the list of countries with central banks looking to bring fiat currencies into the digital realm — with some conditions attached. A CBDC would be denominated in the sovereign currency, and convertible at par with other forms of money.”. The language is interesting — and noteworthy. The Rewards.

Currencies 87

Currencies Retail Banking Financial Systems 87

PYMNTS

OCTOBER 7, 2020

The Bank of Korea has said it plans to begin testing distribution of its digital currency next year, according to a report by The Korea Herald. The project isn't an indication that the Bank of Korea is officially launching a digital currency — just that it is testing how that would work.

Currencies 83

Currencies Banking Finance Technology 83

CFO Leadership

FEBRUARY 16, 2022

In a world where currencies are volatile and their movements hard to predict, profits can be wiped out in the blink of an eye. Price disclosure is less thorough than for exchange-traded assets, and liquidity in many currencies can fluctuate significantly, exacerbating the already high levels of volatility in the market.

Risk Management 52

Risk Management Currencies Foreign Exchange Valuation 52

PYMNTS

JUNE 17, 2020

A growing number of nations are looking to develop digital versions of their currencies, and now there might be regional initiatives taking shape to target the U.S. The publication said China would back the new digital currency with a basket consisting of the Chinese yuan, Japanese yen, Hong Kong dollar and the South Korean won.

Currencies 89

Currencies Banking Accounting Numbers 89

PYMNTS

SEPTEMBER 17, 2020

Cloud-based clearing bank ClearBank has begun offering multi-currency bank accounts using an API, according to a press release. Beginning in the fourth quarter this year, the bank will allow users to access over 30 multi-currency accounts. ClearBank will remain in charge of the clients' funds.

Currencies 64

Currencies Accounting Banking Foreign Exchange 64

PYMNTS

APRIL 14, 2020

One of China’s state-owned banks has a mobile test app that supports the country’s central bank digital currency, according to a CoinDesk report. Testing the app is a sign the giant lender is working to launch the development and deployment work of rolling out the nation’s digital currency, the report said.

Currencies 79

Currencies Banking Accounting 79

CFO News

APRIL 23, 2023

Adani Group is planning to use internal accruals to buy back foreign currency bonds, starting with a $650m tranche at Adani Ports and Special Economic Zone. It is estimated that foreign currency bonds represent 39% of the group's total debt. APSEZ said its board had approved a tender offer for its outstanding senior notes due 2024.

Currencies 52

Currencies Planning Economics 52

PYMNTS

MAY 1, 2020

In many ways, the rise of crypto and digital currencies like Bitcoin aims to address some of these issues, empowering payers and payees with a way of bypassing the “middleman” of the inter-banking system for faster transaction speeds. .” Choice, he said, is key to guiding corporates toward a digital currency ecosystem.

Currencies 68

Currencies Accounting B2B Reconciliations 68

PYMNTS

FEBRUARY 20, 2020

FinTech Paysend is introducing Global Account, its international, fee-free mobile money account with a multi-currency wallet, to European users, the company announced on Thursday (Feb. The Global Account offering aims to save people as much as £2 billion in currency conversions when buying abroad.

Currencies 75

Currencies Accounting Investments Marketing 75

PYMNTS

NOVEMBER 27, 2019

Beau wants to use distributed ledger technology (DLT), and France is considering a central bank digital currency (CBDC). The country’s central bank has supported the idea of DLT, and it hired a blockchain analyst to help with the implementation of a digital currency program. “As

Currencies 94

Currencies Banking Finance Technology 94

CFO News

MAY 18, 2023

The Finance Ministry has clarified that foreign currency payments such as digital subscriptions to publications or goods bought on foreign ecommerce sites through international credit cards will count towards an individual's Liberalized Remittance Scheme (LRS) account and attract 20% tax collected at source (TCS).

Currencies 52

Currencies eCommerce Finance Accounting 52

Future CFO

DECEMBER 16, 2021

CFOs must be aware of cases and risks of digital currencies as 20% of large organisations will use them by 2024, said Gartner recently. Gartner recommends that organisations first clarify specific use cases for digital currencies before evaluating appropriate IT stacks to incorporate them within the enterprise.

Currencies 52

Currencies Auditing CFO Leverage 52

PYMNTS

JULY 6, 2020

“Today, we are making a significant investment to build this market and with highly differentiated offerings providing both private and business clients the opportunity to choose a long-standing industry expert as their payments and FX currency partner.”. or in other countries. or in other countries.

Currencies 79

Currencies Foreign Exchange Risk Management Treasury 79

CFO News

FEBRUARY 8, 2023

Buyers have shifted some transactions to the currency, according to people with direct knowledge of the matter. Payments vary from cargo to cargo, depending in part on the demands of specific traders, said the people, who requested anonymity as the details are private.

Currencies 52

Currencies 52

PYMNTS

SEPTEMBER 21, 2020

As China prepares to debut digital currency, JD.com Inc., CoinTelegraph.com reported the retailer has entered into a partnership with the Digital Currency Research Institute of the People’s Bank of China (PBoC). The idea is for the corporation and the central bank to craft wallets that support China’s digital currency.

Currencies 56

Currencies Banking eCommerce Technology 56

PYMNTS

JULY 1, 2020

The ethics decision came down because of the increasing prominence of digital currency, with the District of Columbia Bar finding it “cannot hold back the tides of change.” ” The opinion also noted that the IRS treats cryptocurrency more as a property than as a currency for tax purposes.

Currencies 78

Currencies Economics Finance Technology 78

PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. The Federal Reserve Bank has been exploring a digital currency.

Currencies 70

Currencies Banking Retail Securities 70