Jimmie Franklin

1 week ago | vixio.com | Jimmie Franklin

Senior officials from the European Securities and Markets Authority (ESMA) and the European Central Bank (ECB) remain cautious of potential financial stability risks posed by the rapid growth of crypto-asset markets, calling for strong supervisory implementation of existing rules and international coordination to prevent emerging threats.

1 week ago | vixio.com | Jimmie Franklin

Open Banking Limited (OBL) has published the much-anticipated proposals for commercial variable recurring payments (cVRPs) in the UK, marking a step forward for the potential direct debit disrupter. The UK standard setter for open banking has published the Commercial Model for Variable Recurring Payments – Wave 1 for consultation, with research undertaken by Frontier Economics exploring both the pricing structure and sustainability of Wave 1 cVRP services.

2 weeks ago | vixio.com | Jimmie Franklin

In fresh correspondence with the financial hubs' lawmakers, the Monetary Authority of Singapore (MAS) has continued not to bow to pressure to introduce stricter oversight of buy now, pay later (BNPL) firms, but did suggest that it is looking closely at consumer protection issues elsewhere.

2 weeks ago | vixio.com | Jimmie Franklin

The Bank of England’s response to its February policy paper on extending direct access to its real-time gross settlement (RTGS) system suggests that expansion may be on the horizon for non-bank payment service providers and foreign banks alike. The Bank of England is considering a significant expansion of access to its RTGS system, in bid to boost competition, innovation and resilience for the UK’s payments ecosystem.

2 weeks ago | vixio.com | Jimmie Franklin

The European Central Bank (ECB) has continued to court lawmakers on the digital euro, but doubts remain over a central bank digital currency (CBDC), despite broad support among lawmakers for reducing reliance on foreign providers. The digital euro has long been a thorn in Brussels' side, and nowhere has it received more criticism among the EU’s co-legislators than Members of the European Parliament (MEP), who have ranged from unconvinced to entirely opposed during the project’s existence.