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Finance
Digital euro to use European standards instead of Visa, Mastercard
The European Central Bank will adopt three European open payment standards for the digital euro infrastructure to reduce reliance on Visa and Mastercard in the euro zone, BeInCrypto reported on April 26. The ECB signed agreements with the European Cards Payment Cooperation, the Nexo Standards and the Berlin Group. The standards cover contactless payments, merchant and ATM transactions, and account-based transfers. Separately, major European banks are expanding moves to embed cryptocurrency trading into existing regulated platforms.
Crypto
UK begins overhaul of digital payments rules to cover stablecoins in single framework
Britain is moving to create a single payments regulatory framework that would treat stablecoins and tokenised deposits alongside existing payment services. The Treasury unveiled its direction for reforms at London Fintech Week. Plans include bringing stablecoins used for payments under an issuance regime, expanding the Financial Conduct Authority’s open banking oversight and reviewing rules for payments carried out by AI agents. The government also appointed Chris Woolard as wholesale digital markets champion and pledged 1 million pounds from April for the Centre for Finance, Innovation and Technology.
Finance
Daol Savings Bank launches Fi National Pension safe account offering up to 3.3 percent
Daol Savings Bank launched the Fi National Pension safe account on Feb. 13, combining National Pension seizure protection with an interest rate of up to 3.3 percent a year before tax. The demand deposit account accepts only pension benefits remitted by the National Pension Service, with a monthly deposit cap of 2.5 million won under current law. Interest rates vary by balance, and bonus rates apply for account registration and an event period through April 29.
