THE globe

SAN FRANCISCO—Ripple is partnering with the National Bank of Egypt (NBE), the country’s largest bank. 

BRUSSELS, Belgium—The European Union (EU) is advancing plans to launch a post-pandemic bloc-wide digital wallet that is designed to provide consumers with a seamless way to digitally access public and private services.

NEW DELHI, India—In a move that some analysts suggest foreshadows how new payment technology can disintermediate FIs, a move by the Reserve Bank of India allows a mobile wallet user, who has fulfilled all know-your-customer (KYC) norms, to send and receive money from different mobile wallets, including the likes of Paytm and PhonePe.

LONDON–The United Kingdom’s Financial Conduct Authority (FCA) said it is establishing plans for a new “Consumer Duty” designed to bolster existing rules and principles in order to enhance consumer protection in retail financial markets. 

LONDON—HSBC has launched a multi-currency digital wallet that enables businesses to make and receive international payments from a single global account. 

WASHINGTON—Global remittances are expected to total $702 billion in 2020, down from $719 billion in 2019 (-2.4%). Of that total, $540 billion is expected to have flowed into low and middle-income countries, down from $548 billion (-1.6%), according to new World Bank data.

FALL RIVER, Nova Scotia–For the second time in 2021, multiple credit unions in Canada’s maritime provinces are looking to consolidate. 

MADISON, Wis.—The Global Women’s Leadership Network (GWLN) awarded eight scholarships to industry women, which the organization said will allow them to join the Network and gain opportunities for professional development, networking and skill diversification.

MADISON, Wis.—The World Council of Credit Unions has launched a monthly podcast it said is designed to provide the “international credit union community with an in-depth look at some of the interesting and important stories we have to tell, particularly in the areas of international advocacy, international projects, education and networking, and digital transformation.”

MADISON, Wis.—USAID and the Worldwide Foundation for Credit Unions said they have  released an initial disbursement from a $1 million liquidity fund to the Ukrainian United Credit Union (UUCU), the central financing facility for 54 Ukrainian credit unions.