๐ โถ๏ธ BRICS PAY | PAYMENT SYSTEM
A Decentralized multi-currency digital international payments system already in a Pilot test.
Demonstrating how #BRICS Pay will work. ๐
๐ ๐ช๐บ ๐๐ฆ๐ข๐ฎ๐ฌ๐ฌ๐ฎ๐ฎ ๐ ๐ถ๐ด๐ฟ๐ฎ๐๐ถ๐ผ๐ป ๐ถ๐ป ๐๐๐ฟ๐ผ๐ฝ๐ฒ ๐ฃ๐ผ๐๐๐ฝ๐ผ๐ป๐ฒ๐ฑ ๐๐ป๐๐ถ๐น ๐ ๐ฎ๐ฟ๐ฐ๐ต ๐ญ๐ณ๐๐ต ๐ฎ๐ฌ๐ฎ๐ฐ.
"the EPCโs PSMB considered that an unsuccessful ISO version migration on 19 November 2023 would not only have impacted the national SEPA transactions.. but also significant volumes of cross-border SEPA transactions, with potential knock-on effects across the whole SEPA region."
#ISO20022 #SEPA #EURO #EPC #Blockchain #PSMB #XRPCommunity
In light of the EPC decision on 24 October to postpone the migration of SEPA payment schemes to the 2019 version of ISO 20022, we have published updated documents on our website (i.e. rulebooks, IGs, guidance documents). See our document library for more: https://t.co/9yNqpZf3FJ
@CryptoVikingXRP@X__Anderson@RossMcFirdeen SEPA stands for Single Euro Payments Area. It's a payment integration initiative of the European Union that aims to make cross-border euro transfers as easy as domestic transfers. ๐
Those are from the ECB upgrading their financial system and being ready to go.
But it's the EPC who makes the final decision to implement the migration into the entire Europe. So, most of EU countries & institutions are individually ready, except 2, that's why the implementation won't occur and got rescheduled for March 2024.
https://t.co/QlT8xJKpDl