THE globe

MOSCOW—The Bank of Russia has initiated testing of stablecoins pegged to real estate under its regulatory sandbox program.

BEIJING—The Industrial and Commercial Bank of China (ICBC) has partnered with giants Ant Financial and Alibaba to jointly develop a wide range of new financial technology services.

BRANDON, Manitoba–One credit union here has named a winner after staging a contest that rewarded people for being nice.

MADISON, Wis.—The Worldwide Foundation for Credit Unions joined with its partners in Asia to demonstrate a real-time, interoperable payment system for credit unions during live events in The Philippines and Indonesia.

CASTRIES, ST. LUCIA – Saint Lucia Civil Services Co-operative Credit Union has changed its name. The credit union has rebranded as Jannou Credit Unio

PRINCETON, N.J.—Central banks must embrace the revolution under way in digital money to ensure they remain at the heart of the global payments system, according to the head of the Bank of International Settlements. 

DUBLIN, Ireland–A new report from Ireland’s Central Bank sees ongoing challenges for the country’s credit unions in generating income and building ROA, but also says CUs continue to have a strong overall reserves position. 

OTTOWA, Canada–Credit unions in this country more than tripled their market share among small and medium-size businesses since 1982 and now control 12% of the market, according to a new study. 

SAN DIEGO—A delegation from Costa Rica-based CoopeAnde No. 1 Credit Union visited with four San Diego area credit unions as part of the World Council of Credit Unions’ Immersion Learning Program.

KYIV, Ukraine.—Ukraine’s Ministry of Justice has approved a new set of financial standards, which were developed with significant support from senior experts at the World Council of Credit Unions/USAID Credit for Agriculture Producers (CAP) Project, according to the association.