ECB ‘assessing’ bilateral link to India’s UPI – Cipollone
Board member says US promotion of stablecoins presents real risks for EM central banks
The Eurosystem is considering linking its payment system with India’s Unified Payments System (UPI), Piero Cipollone revealed on April 1.
In a speech in the Croatian city of Osijek, the European Central Bank executive board member said the Eurosystem was taking a proactive stance to make cross-border payments cheaper, quicker and more transparent.
As part of these efforts, Cipollone said the ECB was exploring the feasibility of linking its own payments system, Tips, with UPI. The latter, he said
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