Domestic payments
Payments between parties in the same country and currency over a ledger, often around the clock, e.g. transfers between corporate clients' deposit-token accounts.
Regulation that shapes it
- Australian financial services law for digital assets (Corporations Act, ASIC INFO 225 and the Digital Assets Framework Act)Australia
- Australian payment service provider licensing reform (stored value facilities and tokenised stored value facilities)Australia
- Bank of England regime for sterling-denominated systemic stablecoinsUnited Kingdom
- Canada Stablecoin Act (Budget 2025 Implementation Act, No. 1, S.C. 2026, c. 3, s. 600)Canada
- Markets in Crypto-Assets Regulation (MiCA), Regulation (EU) 2023/1114European Union
- Korea Digital Asset Basic Act (bill, including won stablecoin issuance)South Korea
- UK cryptoasset regulatory regime (FSMA cryptoasset activities)United Kingdom
- GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act)United States
- Wyoming Stable Token Act (W.S. 40-31-101 to 40-31-109)Wyoming
Deployments
| Deployment | Status | Assets | Use cases | Last reviewed |
|---|---|---|---|---|
| PayPal USD (PYUSD)Updated 7 Nov 2026 Paxos tokenisation platform | Live (scaled) | Reviewed 13d ago | ||
| AE Coin UAE dirham stablecoinNew AED Stablecoin | Live (limited) | Reviewed 13d ago | ||
| Bank of Jamaica JAM-DEX retail CBDCNew Bank of Jamaica | Live (limited) | Reviewed 13d ago | ||
| Central Bank of Nigeria eNairaNew Central Bank of Nigeria | Live (limited) | Reviewed 13d ago | ||
| Central Bank of The Bahamas Sand DollarNew Central Bank of The Bahamas | Live (limited) | Reviewed 13d ago | ||
| HSBC RedCoin Hong Kong dollar stablecoinNew HSBC | Live (limited) | Reviewed 13d ago | ||
| HSBC Tokenised Deposit ServiceUpdated 7 Nov 2026 HSBC | Live (limited) | Reviewed 13d ago | ||
| JPYSC trust-type yen stablecoin (SBI Shinsei Trust & Banking)Updated 7 Nov 2026 SBI Shinsei Trust & Banking | Live (limited) | Reviewed 21d ago | ||
| People's Bank of China digital renminbi (e-CNY)New People's Bank of China | Live (limited) | Reviewed 13d ago | ||
| Roughrider CoinNew Fiserv | Live (limited) | Reviewed 1d ago | ||
| BLOOM (Borderless, Liquid, Open, Online, Multi-currency)New Monetary Authority of Singapore | Pilot | Reviewed 1d ago | ||
| Central Bank of the UAE Digital Dirham pilotNew Central Bank of the UAE | Pilot | Reviewed 22d ago | ||
| CHF stablecoin sandbox (CHFD)New Swiss Stablecoin AG | Pilot | Reviewed 13d ago | ||
| Great British Tokenised Deposit (GBTD) pilot UK Finance | Pilot | Reviewed 24d ago | ||
| Hazel Network (Avit tokenised deposits)New Avit | Pilot | Reviewed 24d ago | ||
| MAS Singapore dollar wholesale CBDC live trialsUpdated 15 Oct 2026 Monetary Authority of Singapore | Pilot | Reviewed 24d ago | ||
| Reserve Bank of India retail digital rupee (e₹-R) pilotNew Reserve Bank of India | Pilot | Reviewed 13d ago | ||
| Reserve Bank of India wholesale digital rupee (e₹-W) pilotNew Reserve Bank of India | Pilot | Reviewed 13d ago | ||
| Standard Chartered Malaysia ringgit stablecoin pilot with Capital ANew Standard Chartered | Pilot | Reviewed 13d ago | ||
| Sterling Fnality Payment System (£FnPS)Updated 7 Nov 2026 Fnality | Pilot | Reviewed today | ||
| Swift blockchain ledger for tokenised deposit paymentsUpdated 17 Oct 2026 Swift | Pilot | Reviewed 24d ago | ||
| Bank Indonesia Project Garuda (wholesale digital rupiah)New R3 | Proof of concept | Reviewed 12d ago | ||
| Norges Bank CBDC and tokenisation sandboxNew Norges Bank | Proof of concept | Reviewed 21d ago | ||
| Swiss Bankers Association Deposit Token proof of conceptNew Swiss Bankers Association | Proof of concept | Reviewed 24d ago | ||
| Eastern Caribbean Central Bank DCash retail CBDC pilotNew Bitt | Inactive | Reviewed 13d ago | ||
| Riksbank e-krona pilotNew R3 | Inactive | Reviewed 21d ago |
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