Cryptocurrencies, the best known of which is Bitcoin, exist almost entirely in the digital sphere, connecting with the physical world only if the owner writes down their digital key or if they use one of the growing number of ATMs where they can exchange their cryptocurrency for physical cash. A new venture, Noteworthy, is looking to change that, embedding cryptocurrencies into what will look and feel like a traditional banknote.

The Central Bank of Iraq has added a feature to its banknotes to protect them from bacteria and viruses, including the coronavirus strain. The feature is not named, but is described as a biological pesticide developed by international companies specialised in printing banknotes, and is presumed to be incorporated in a coating/varnish. The notes containing the feature will be put into circulation soon.

Prosegur Compañia de Seguridad (Prosegur) and its listed subsidiary Prosegur Cash have reached an agreement for the acquisition, by the former, of most of the process outsourcing and value-added services business developed by Prosegur AVOS, which was founded and is owned by the latter.

Globalisation is the result of the ability to move and communicate easily with others leading eventually to global cultural, political and economic integration.

Cash & Payment News™ this month follows two main themes, payments and cash in a pandemic, along with a range of CashTech and other stories.

The Federal Reserve of New York has announced the appointment of Naureen Hassan as its First Vice-President and Chief Operating Officer (COO). She replaces Michael Strine, who retired at the end of February.

When a polymer banknote is produced, a number of opacification layers are printed onto the core substrate so that it can accept the traditional banknote printing processes such as litho, intaglio, screen and letterpress printing.

The Eastern Caribbean Central Bank (ECCB) issued its new $5 polymer banknote into circulation this month, completing the transition of its new family onto SAFEGUARD® polymer banknotes.

ln celebration of the 50th anniversary of the Modern Omani Renaissance, the Central Bank of Oman (CBO) has launched a new series. Oman, officially the Sultanate of Oman, is located on the southeastern coast of the Arabian Peninsula at the mouth of the Arabian Gulf, sharing its borders with the United Arab Emirates, Saudi Arabia and Yemen. The first national currency was introduced in 1970, replacing the Gulf rupee. Its current name, the Omani rial, was adopted in 1972. Coins were introduced earlier, in 1941.

China Banknote Printing and Minting Corporation (CBPM) is the world’s largest manufacturer for banknotes and coins – not only producing more currency than any other printer or mint, but also offering the full gamut of production and security technology through a network of subsidiaries dedicated to R&D, features, substrates and ink, minting, printing and processing equipment, as well as production itself.

The Central Bank of Iran has unveiled the designs of three new banknotes as part of the transition of Iran’s currency from the rial to the toman. Under the changes, four zeroes will be knocked off the rial and it will be renamed.

Banknote Industry News (BIN) surveyed 36 central banks at the end of 2020 with a wide range of questions. Two thirds of those surveyed did not change their banknote handling practices in the pandemic, neither disinfecting nor quarantining notes. The 25% who have changed their practices, continue with them. Although a quarter said that trust and confidence in banknotes had been reduced by the pandemic, 69% said there was no change.

Prosegur, including its cash business Prosegur Cash, is the first security group to sign up to ‘The Climate Pledge’, a commitment to achieve net zero carbon by 2040. The Climate Pledge initiative was created by Amazon and Global Optimism in 2019 and 53 companies are now signed up to it.

As relayed to Currency News in this month’s On the Record, the Chairman of China Banknote Printing and Minting Corporation (CBPM), Mr Yang Lijie, is optimistic about the future of cash, proud of the achievements of his organisation in terms of quality, sustainability and CSR, and willing to make more friends and more partners with the industry around the world.

January and February are when six of the leading listed companies in cash report their annual results for the previous year. The time last year, all but one reported strong results and optimistic outlooks.

Corporate Social Responsibility (CSR), something of a buzzword in ‘corporate speak’, is defined as a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. Which sounds great, as indeed it is. But isn’t really anything new.

At the Future of Cash conference, Chris Forero-Slee introduced his business, Shrap. As he said, he does not expect to be popular with those who make their living from or who like coins. Shrap (the company presumably takes its name from shrapnel, ie. fragments of shells or bullets but also a colloquial term for small change) is a solution that offers an alternative to coins, which they regard as a ‘pain point’ in payments.

Actemium Cournon Engineering is a subsidiary of VINCI Energies, specialising in industrial engineering that accelerates manufacturing integration and control using new technologies. Based 15km from the Banque de France’s printing plant, it was hired to work on five key projects, two in the paper mill and three in the printworks.

Competition creates energy and change. It can be argued that 2020 was the year where the impact of there being two suppliers of polymer substrate in the banknote market started to be seen. The take-up of polymer by central banks accelerated, while investment brought new security features to market, more capacity and more recycling capability.

2021 started with the CEO of Koenig & Bauer, Claus Bolza-Schünemann, handing over the baton to Dr Andreas Plesske, board member responsible for Koenig & Bauer’s Special segment, which includes Banknote Solutions.