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Clifford Chance

Clifford Chance
Fintech<br />


Talking Tech

Global Fintech Update

19 June 2024

Fintech Banking & Finance 19 June 2024

Welcome to this week's global fintech round-up, summarising fintech regulatory developments that have happened around the world along with our Clifford Chance fintech publications and upcoming events.

Details of these and previous developments can also be found on our Fintech Topic Guide on the Clifford Chance Financial Markets Toolkit.




  • (18 Jun 2024) International Monetary Fund (IMF) blog post on how central bank digital currencies (CBDCs) can boost the Middle East's financial inclusion and payment efficiency
  • (14 Jun 2024) The Eurosystem and London Centres of the Bank for International Settlements (BIS) BIS Innovation Hub, together with the Bank of England, have launched Project Meridian FX, to build on the findings of Project Meridian by focusing on foreign exchange (FX) transactions. The starting point is the concept of the synchronisation operator (SO) developed in the first Meridian project. Meridian FX will test the usability of the SO for different types of assets and technologies. The project is intended to provide insights on how operators of real-time gross settlement (RTGS) systems could enable interoperability with new payments technologies, such as distributed ledger technology (DLT). The project aims to report on its findings in Spring 2025. |  Press release
  • (14 Jun 2024) BIS paper which presents the results of the 2023 BIS survey on CBDCs and crypto. The paper also provides insight into the use of stablecoins for payments and regulatory approaches to cryptoassets across the globe. | Webpage
  • (13 Jun 2024) The BIS and the Bank of Canada have launched the Toronto Innovation Centre, the first such centre to be established in the Americas and the seventh to be opened by the BIS in collaboration with partner central banks around the world. The centre will explore the development of new technologies, both in Canada and throughout Latin America and the Caribbean. | Press release




  • (12 Jun 2024) Financial Market Supervisory Authority (FINMA) guidance (in German) on the management of operational risks by fund management companies and managers of collective assets, which describes measures to ensure appropriate management of risks in the areas of information and communication technology, data, cyber, business continuity, legal and compliance as well as outsourcing. | Press release


  • (17 Jun 2024) UK Finance blog post on automation strategies in banking.