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The U.S. government needs a stimulus payment system that ensures the policy objectives are met. It could be based on programmable eMoney ("digital dollars") or eVouchers that are time-stamped, purpose-limited, and even location-limited to prevent users from hoarding them. Loans to small businesses could be tied to payroll or capital expenditure. Such eMoney or eVouchers could be sent or received directly to users' eWallet accounts and settled over an automated clearing house.

Philippines' central bank reported that e-wallet penetration is growing faster in the Philippines and has surpassed credit card numbers.

The IMF is watching the growth of so-called stablecoins closely and today published a paper that identifies their benefits and risks, and highlights some regulatory issues that are likely to emerge.

Former Banque de France deputy governor Jean-Pierre Landau argues that the network effects created by the aggregation of a vast range of activities in financial "platforms" create externalities very similar to those that underlie the creation of money. The report highlights three implications. First, the financial system could become "payment centric" - with bank deposits no longer the dominant form of private money. Second, digital interconnectedness may create around such networks digital currency areas, a development that could fragment some monetary systems. Third, national borders may not constrain such digital currency areas, and the currencies of those countries where digitalisation proceeds fastest (and where networks become the biggest) may become more widely used internationally - "digital dollarisation".

100% e-money and the corresponding regulation are compared to two models where the CBDC providing third-party is either an intermediary or a custodian.

MintChip operates with many of the characteristics of cash in the online world. Not requiring a proprietary network or any network at all to authenticate and process the transaction, it is a direct transfer of value from consumers to business or person to person. The value is stored in secure integrated chips and uses a secure protocol that allows the transfer of value from one chip to another. Like cash, it operates without the need for personal identification, is instantaneous and does not have any age or credit requirements for use.

A Secure Element securely stores card/cardholder data and manages the reading of encrypted data. During a payment transaction it acts like a contactless payment card using industry standard technology to help authorize a transaction. The Secure Element could either be embedded in the phone or embedded in your SIM card.

This paper compares the financial account implications of CBDC with stable coins and narrow bank digital money, noting the similarity and differences in terms of implications on the financial system.

This paper presents an overview to the field of bitmoney - a digital payment system. A digital payment system is an information technology system for transferring money between its users. This paper describes two European types of bitmoney Mondex and CAFE. In addition some other types are also presented.

A series of PBoC rulings in 2017 and 2018 have stopped bigtech payment operators profiting from interest income earned by depositing customers' surplus payment funds. Instead, surplus payment funds now need to be placed with the PBoC and secure no interest in return - it had previously mandated that only certain percentages needed to be held with the central bank. The PBoC asked payment companies to deposit 100% of customer funds with the central bank by January 2019.

Monerium will issue e-money on the Algorand blockchain protocol in order to support fiat-currency transactions on Algorand.

Telegram, the messaging app company currently facing a legal fight with the U.S. Securities and Exchange Commission over its $1.7 billion token sale, revealed more details about the technical specifications underpinning its TON blockchain Wednesday.

If Walmart's MoneyCard is any indication, many of America's unbanked aren't unbanked - they are differently banked. Instead of accessing banking services via traditional accounts, these people are connecting to it by prepaid credit cards, otherwise known as general purpose reloadable (GPR) prepaid cards. Walmart's MoneyCard is one of the most well-known offerings. But even governments are sponsoring prepaid debit card programs, the Federal government's DirectExpress card being the best example.

"This analysis has highlighted that stablecoins have features that differ from conventional e-money. But it's hard not to conclude that each point is just a symptom of one primary difference: stablecoins are issued on a public blockchain."

Using Tradeshift's platform and smart contracts on the Ethereum blockchain, Icelandic retailer Nordic Store purchased goods from IKEA Iceland and settled an e-invoice with Monerium's programmable digital cash.

The Central Bank of the United Arab Emirates (CBUAE) issued a new regulation on Stored Value Facilities (SVFs). The CBUAE aims to facilitate Fintech firms and other non-bank payment service providers easier access to the United Arab Emirates (UAE) market while continuing to safeguard the customers' funds, ensure proper business conduct and support the development of payment products and services. The scope of this regulation includes licencing, supervision and enforcement provisions applicable to the companies, which are licenced to provide SVF.

"The Model Money Transmission Modernization Act, also known as the Money Transmitter Model Law, is a single set of nationwide standards and requirements created by industry and state experts. The law was approved in full by the CSBS Board of Directors in August 2021. As we move forward, CSBS will work to ensure that implementation among states is as uniform as possible, as states may require legislation, regulation or guidance changes to adopt the provisions contained in the law. Please refer to the materials below for the model law language. "

The IMF published a paper on the evolving prudential frameworks for nonbank issuers of electronic money (e-money). Some jurisdictions take a relatively light-touch approach to regulating e-money issuers (EMIs). Others have sought to apply more stringent requirements to protect e-money users, as the sector has grown in importance. The paper ends with recommendations for policymakers, especially in those emerging market economies and developing countries wherein EMIs have reached a scale at which they could have a significant economic impact if they were to fail.

Ukrainian commercial bank TASCOMBANK, and Bitt, the firm behind the Eastern Caribbean Central Bank and Central Bank of Nigeria central bank digital currency pilots, have launched a pilot project to issue an electronic hryvnia on Stellar. The pilot will test the digital currency on the use cases of programmable payroll for public employees at Diia, an IT solutions enterprise, as well as for peer-to-peer payments and merchant payments. The project is being implemented under the supervision of the National Bank of Ukraine and with the support of the Ministry of Digital Transformation.

"M-Pesa, Africa's most successful fintech, is celebrating its 15th anniversary, having grown to connect more than 50 million customers and nearly half a million businesses across seven countries. M-Pesa now processes more than 61 million transactions a day, making it Africa's largest fintech provider, and it has attracted 42,000 external developers to create additional services for the platform. Whichever way you look at it: Wow."