PaymentSystem

Swiss National Bank's Tschudin Advocates for Cash alongside Instant Payment Innovations

1 month ago

In a recent statement, the Swiss National Bank (SNB) board member, André Tschudin, emphasized the enduring importance of cash in the modern economy despite the rapid rise of instant payment technologies. Tschudin's remarks come at a time when digital transactions are becoming increasingly preferred by consumers, posing a challenge to the traditional role of physical currency.

European Central Bank Eyes Blockchain Technology for Future Payment Systems

3 months ago

In a significant move towards digital transformation, the European Central Bank (ECB) has expressed its intention to explore the establishment of a blockchain-based payment system. This initiative is part of the ECB's broader effort to modernize the European payment landscape and ensure that it remains competitive in a rapidly evolving global financial ecosystem.

Russia Proposes BRICS Payment System to Challenge U.S. Dominance in Global Finance

7 months ago

In a decisive move aimed at curbing the influence of the U.S. dollar in international trade, Russia has proposed the establishment of a payment system within the BRICS group, which consists of Brazil, Russia, India, China, and South Africa. The initiative seeks to enhance trade among member nations while simultaneously reducing reliance on Western financial frameworks.