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Just a week after the R3 group took a record funding round, the Bank of Canada has said distributed ledger technology, a new approach for processing transactions that is being widely tested across the financial industry, is not yet mature enough to run a national interbank payment system. The bank reached that conclusion after a [...]

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Switzerland is set to launch a new interbank payment system, using the ISO 20022 payments architecture and messaging standard to provide new services to bank and corporate users. After 30 years of operation, the SIC system has been completely redeveloped by market operator SIX on behalf of the Swiss National Bank (SNB) and the Swiss financial [...]

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China’s central bank has launched the China International Payment System (CIPs), a worldwide  interbank payment system and superhighway for the yuan to facilitate trade settlement and investment dominated in the yuan. CIPS will replace a patchwork of existing networks that make processing renminbi payments a more cumbersome process. It will comprise of two phases, the first of [...]

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