Finance

Five European payment firms launch ENP shared network

Major European payment providers have launched a shared network to connect cross-border payments while keeping their national services intact. The new European Payments Network, or ENP, links separate schemes through a common technical and operational layer so users can send money or pay across countries using existing apps and brands. The initial focus is person-to-person transfers, with plans to expand to e-commerce and in-store payments.

Crypto

Money flows into \'digital dollar\' stablecoins, shaking banks and national monetary systems

Stablecoins are spreading as a near real-time, 24-hour tool for moving money, raising concerns they could accelerate outflows from bank deposits and national currencies during financial stress or sharp currency declines. The European Central Bank has flagged potential liquidity mismatches between round-the-clock redemptions and reserve assets that move on traditional settlement schedules. The BIS also found stablecoin flows tend to rise alongside foreign-currency deposits in crisis situations.