Payments Daily · Thursday, October 8, 2026Daily
PAY.NEWS
Russia’s Central Bank Approves First 9 Crypto Market Institutions
Russia’s Central Bank has approved the first 9 institutions to enter the regulated crypto market, including 4 digital currency trading platforms and 5 digital custody institutions. Sberbank and VTB received digital custody licenses, while VTB was also approved to conduct cryptocurrency trading.
Payments & Infrastructure
CoinDeskTaurus Co-Founder: Accessing Swift’s Blockchain Ledger Requires Banks to Have Three Layers of Internal Infrastructure
Taurus co-founder Lamine Brahimi said that banks accessing Swift’s blockchain-based ledger need their own permissioned ledger, digital asset wallets, and tokenization and smart contract capabilities. The ledger serves as an orchestration layer, supporting the round-the-clock cross-border transfer of tokenized deposits, while final settlement is still completed through existing arrangements. HSBC, Standard Chartered, DBS, and Citi have completed real-time transactions, with weekend cross-border U.S. dollar payments between DBS and Citi completed within minutes.
Bank of EnglandFirst partyBank of England-Hosted London FX Joint Standing Committee Discusses RTGS and CHAPS Near-24/7 Settlement
The Bank of England-hosted London FX Joint Standing Committee discussed plans to transition RTGS and CHAPS to near-24/7 settlement at its June 24 meeting. The meeting noted that the relevant Consultation Paper is seeking views from stakeholders. Extending settlement hours will affect the structure of the FX market and bring adjustments in financial stability, investment, funding, and treasury management.
Bank of EnglandFirst partyBank of England Publishes Minutes of London FXJSC Legal Subcommittee Meeting, Focusing on the Transition to the 2026 FX Definitions
The Bank of England published the minutes of the London FXJSC legal subcommittee meeting held on June 16, focusing on the 2026 FX Definitions and their implementation arrangements. The four-year plan has entered the implementation phase, and the SWIFT rulebook is expected to be updated in the summer. The new definitions are scheduled to take effect in November 2027, at which point the 1998 definitions will cease to apply. The new framework will be unified into a versionable digital system and will provide an implementation roadmap, guidance, and confirmation templates.
Regulation & Compliance
Russia’s Central Bank Approves First 4 Crypto Trading Platforms and 5 Digital Custody Institutions
Russia’s Central Bank has approved 9 institutions to enter the regulated crypto market, with 4 authorized to operate as digital currency trading platforms and 5 authorized to provide digital custody services, making them the first participants in two official registers. Sberbank and VTB received digital custody licenses, while VTB was also authorized to conduct cryptocurrency trading. All crypto transactions, including transfers to overseas wallets, must be conducted through Russian-licensed intermediaries. The relevant institutions must fully comply with the regulatory framework no later than September 1, 2027.
Bank of EnglandFirst partyPRA Proposes Linking 128 Regulatory Thresholds to Nominal GDP and Increasing Them Automatically
The UK Prudential Regulation Authority (PRA) has proposed that 128 regulatory thresholds for banks, insurers, and credit unions be automatically increased in line with nominal GDP going forward. These thresholds determine which regulatory rules apply to institutions, how the rules are implemented, and their reporting obligations to the PRA. They include a £320 billion detailed capital reporting threshold and a £7,500 individual arrears threshold for credit unions. The first adjustment is proposed for July 1, 2031, followed by updates every five years. The consultation will open on October 7, 2026, and close on February 7, 2027.