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on Payment Systems and Financial Technology |
| By: | Farroukh, Arafet; Metzger, Martina |
| Abstract: | Though blockchain-based community currencies enjoy increasing popularity, they are still an underexplored topic, which is reflected in the very limited amount of academic literature devoted to it specific features. This paper examines the potential of blockchain technology for the implementation of community currencies in general and in the "OurVillage" project in Cameroon in particular. The specific features of decentralisation, transparency and immutability and thus data security due to its ledger and consensus mechanism make the Blockchain technology particularly appropriate for the application within community currency systems. We show that blockchain-based community currencies offer various potentials, inter alia its integrity, its inclusiveness, its lower transaction costs, and its simultaneous immutability and flexibility in order to prevent technological obsolescence. We identify blind spots in literature on blockchain-based community currencies such as long-term sustainability considerations or strong conceptual issues related to the design and its specific features, principles and rules which influence voice, participation, distribution of benefits and the empowerment of community members and civil society. We also indicate challenges of blockchain-based community currencies arising from the specific technology and its regulation, e.g. interoperability with other networks, scalability, exposure of sensitive information to the network and definition of data-sharing protocols, but also the necessary regulatory compliance and the creation of a risk management strategy. Finally, the user-friendliness in form of handling and user interface of the community currency are major drivers for the inclusion of a diverse user base comprising also households with only limited technological proficiency. |
| Keywords: | crypto currencies, digital community currencies, scalability, interoperability, risk management strategy, sustainability, empowerment, Cameroon |
| JEL: | E41 E42 E51 O33 O55 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ipewps:344238 |
| By: | Ujala Shah (UNIVERSITY OF PISA); Cristiano Ciappei (University of Florence); Michele Pascale (University of Pisa) |
| Abstract: | The Paper analyzes the Impact of Digital Marketing on Financial Technology (FinTech). Adopting Ten Step Bibliographic-Systematic Literature Review by (Marzi 2025), by reviewing the literature available on Scopus, Web of Science and Google Scholar, published in all years to date, as per the inclusion exclusion criteria determined (Matthew, 2021). Beginning with creation of a well-structured search string employing R-package ß A multifaceted analysis performed by conducting Bibliographic analysis using VOS viewer to create a panoramic view of the existing research landscape, followed by in-depth literature analysis. The research addresses three research questions, including key research themes, research findings, geographic regions with most of the research on the area under study, global collaboration on the work. Findings Suggest strikingly scarce literature available, especially in Europe. Furthermore, most of the research, however limited, is concentrated mostly in Asia, which again remains consistently hyper focused on specific research domains, creating rather myopic research. Moreover, there is need to conduct Research on impact of different digital marketing strategies including Search Engine Optimization (SEO), Search Engine Marketing (SEM), App-Store Optimization (ASO), Social Media marketing (SMM), Content Marketing, Website marketing on different fintech Platforms including Shadow banks, digital payments (PayPal, Stripe), neo banking (Monzo, N26), and lending platforms including consumer lending (Upstart), peer-to-peer lending (Lending Club), and SME lending (Funding Circle) needs to be explored. This Research has synthesized most of the research work on Digital Marketing?s Impact on Fintech in three major databases and highlighted major areas that need researchers? attention. |
| Keywords: | FinTech, Financial Technology, Digital Marketing, Financial Inclision, Bibliographic-Systematic Literature Review |
| JEL: | G00 |
| URL: | https://d.repec.org/n?u=RePEc:sek:iefpro:16217347 |
| By: | Dr. Emechebe Nkiru Camilla (Federal Polytechnic Oko / Tansian University Umunya State) |
| Abstract: | The rapid evolution of digital technologies has transformed society into what scholars describe as the platform society, where digital platforms increasingly mediate economic activities, political engagement, social interactions, and cultural production. Platforms such as social media, e-commerce, search engines, and digital payment systems have become central infrastructures of contemporary life. While these platforms promote innovation, connectivity, and economic opportunities, they also raise significant concerns regarding surveillance, algorithmic governance, misinformation, data privacy, digital inequality, and the concentration of corporate power. This seminar examines the platform society paradigm by interrogating the dynamics of digital power, culture, and social change in the twenty-first century. It explores how digital platforms influence communication, governance, identity formation, democratic participation, and economic development. Drawing on Platform Society Theory, Network Society Theory, Surveillance Capitalism Theory, and Power Theory, the study critically analyses the opportunities and challenges associated with platformization. The paper concludes that digital platforms have become powerful institutions shaping nearly every aspect of human existence. Consequently, governments, technology companies, educational institutions, and civil society organizations must collaborate to ensure ethical digital governance, strengthen data protection frameworks, improve digital literacy, and promote inclusive technological development. |
| Keywords: | Platform Society, Digital Power, Social Change, Digital Culture, Platform Capitalism, Algorithmic Governance, Artificial Intelligence, Social Media |
| JEL: | O38 |
| URL: | https://d.repec.org/n?u=RePEc:sek:iacpro:16117288 |
| By: | Pedram Ebadollahyvahed; Nneka Umeorah |
| Abstract: | Cryptocurrencies trade continuously while major traditional markets close over the weekend. We examine whether weekend cryptocurrency volatility predicts Monday variance in equity, commodity and fixed-income markets. Using daily range-based variance measures for Bitcoin, Ether, XRP, the S&P 500, gold and a US Treasury ETF over 2017-2026, we augment heterogeneous autoregressive models with a common weekend cryptocurrency factor. Predictive content is weak before 2024 but significant thereafter. In the post-2024 sample, a one-standard-deviation increase in the factor is associated with 27-54% higher fitted Monday variance. Adding the factor reduces out-of-sample QLIKE losses by 11-22%, although statistical evidence varies across markets. Friday cryptocurrency volatility does not reproduce the result, and coin-specific variation adds no significant predictive information beyond the common factor. An endogenous procedure estimates a break in late 2023, during growing anticipation of US spot-Bitcoin ETF approval. However, ETF-flow interactions provide no evidence of amplification through greater measured Monday flow activity, leaving the mechanism unresolved. The findings suggest that calendar-specific volatility measures reveal predictive information that aggregate connectedness measures may obscure. |
| Date: | 2026–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2610.35702 |
| By: | Jiaqi Li |
| Abstract: | How costly are cross-border payments for firms? Using proprietary FXC Intelligence data on quoted prices for Canadian business-to-business cross-border payments, this note documents three empirical facts. First, cross-border payment costs for firms are costly: banks charge senders a total margin of around 2–3.5% of transaction value, with foreign exchange margins accounting for the majority of these costs relative to transaction fees. Second, payment costs for vehicle currencies tend to be lower. Third, for the same corridor and transfer amount, prices differ substantially across banks, and the size of this dispersion is corridor-specific. |
| Keywords: | Money and payments; Payment and financial market infrastructures; Retail payments |
| JEL: | E E4 E42 F F2 F29 Y Y1 Y10 |
| Date: | 2026–10 |
| URL: | https://d.repec.org/n?u=RePEc:bca:bocsap:26-49 |
| By: | Martin Peitz |
| Abstract: | South Africa has addressed digital platforms not through digital-specific regulation but through the Online Intermediation Platforms Market Inquiry and subsequent non binding guidance by the Competition Commission. It thus offers a test case for how far a general market-inquiry instrument can perform the functions of such regulation. The article distinguishes between competition problems that the Commission has addressed and those it has not; for the latter, the absence of intervention may reflect the scope of the inquiry rather than a limit of the instrument. For the former, including price parity, self-preferencing and the use of business-user data, the South African framework reaches much the same conduct as the EU Digital Markets Act (DMA) and furthermore takes account of the participation of small firms and firms owned by historically disadvantaged persons. The differences from the DMA lie in what triggers intervention and in how obligations are specified, how long they apply and how they are enforced. The German and UK digital-specific regimes answer these questions differently from the DMA. How far South Africa’s market-inquiry instrument performs the functions of digital-specific regulation therefore also depends on which regime serves as the reference point. |
| Keywords: | digital platforms; market inquiry; ex ante regulation; South Africa; Chapter 4A Competition Act; Online Intermediation Platforms Market Inquiry; Digital Markets Act; section 19a GWB; DMCC Act; contestability. |
| JEL: | K21 K23 L40 L51 |
| Date: | 2026–10 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2025_787 |
| By: | Farina, Tatiana; Franke, Günter; Konow, Felix-Julius; Krahnen, Jan Pieter; Langenbucher, Katja; Lindner, Vincent; Lüders, Erik; Straka, Max; v. der Decken, Jasper |
| Abstract: | The review of the Markets in Crypto-Assets Regulation (MiCAR) takes place in European policy environment shaped by competitiveness and a global payment landscape shaped by geoeconomic competition. This paper contributes to the ongoing political discussion on stablecoins with a number of recommendations. First, it advocates for alignment of reserve-requirements of MiCAR-compliant stablecoins with rules similar to the US-GENIUS Act, thereby replacing the need to hold reserves in bank deposits with high-quality liquid assets (HQLAs). Second, it calls for an equivalence and recognition regime to mitigate the financial stability risk arising from multi-issuance; third, it emphasizes that stablecoins and the digital euro are not mutually exclusive. The digital euro remains an important tool to prevent dollarisation and to achieve strategic payments autonomy. Finally, it proposes to shift supervision of crypto-asset service providers (CASPs) to the European Securities and Markets Authority (ESMA) as stress-testing and reliable data collection can be undertaken more efficiently at Union level. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:safewh:344247 |
| By: | Silvia Sgherri |
| Abstract: | A global digital liability is a contract with three clauses that can be written separately at issuance: denomination, which governs what the liability pays and how well it insures its holders; the unit of account, which governs pass-through into prices; and backing, the government bonds held against it, which governs the yield privilege and the issuer’s currency exposure. Dollar stablecoins set all three to the dollar; multilateral proposals would move them to a basket. In a three-country New Keynesian model with currency-disaster risk in the periphery, a convenience yield on reserve assets, and original sin, we show that, however it is written, the contract cannot remove peripheral currency risk, only decide who bears it. Insuring against the peripherys currency creates an open position for the issuer. With fixed capital, that exposure places a limit on the scale at which the liability can be supplied credibly: a new Triffin dilemma that can be overcome by capital that grows with the open position. The mechanism behind the old dilemma reappears in general equilibrium: the country whose bonds back the liability runs a permanent trade deficit financed by the world’s demand for them, and the yield privilege it draws exceeds the interest it saves, as its terms of trade improve. |
| Keywords: | stablecoins, digital dollarization, unit of account, convenience yield, original sin, portfolio balance, international monetary system, Triffin dilemma |
| JEL: | F31 F33 F41 E42 E44 G23 |
| Date: | 2026–10 |
| URL: | https://d.repec.org/n?u=RePEc:gwc:wpaper:2026-015 |
| By: | Matthew Brigida |
| Abstract: | Total value locked (TVL) is widely used to assess decentralized finance ecosystems. Prior evidence finds that portfolios formed on TVL alone are spanned by the crypto market portfolio (Brigida 2025). This paper asks whether TVL becomes more informative when combined with measures of adoption, usage, development, protocol revenue, or social attention. I construct weekly value-weighted 2x3 portfolios that independently sort tokens on TVL-to-market-cap and one of seven ecosystem-activity ratios. Portfolio returns are computed from token prices using lagged-market-capitalization weights and evaluated against crypto market and size factors. Across the available 2022-2025 samples, none of the six on-chain double sorts rejects the benchmark after controlling for multiple testing. The same conclusion holds over 83 common weeks for which social-attention data are available. Several specifications reject at unadjusted levels, but none survives Holm adjustment. The social-attention rejection is only marginal under asymptotic inference and is insignificant under a moving-block bootstrap. Equal-weighted portfolios and formal parameter-stability tests lead to the same broad conclusion. The evidence therefore does not show that ecosystem activity reliably transforms TVL into an incremental return signal. |
| Date: | 2026–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2610.36274 |
| By: | Ciprian NASTASOIU (Doctoral School of Economics and Business Administration, Faculty of Economics and Business Administration, West University of Timisoara) |
| Abstract: | Digital customer onboarding has become a critical point at which financial intermediation, technological innovation and anti-money-laundering risk management converge. Regulatory technology can improve identity verification, customer-risk classification, screening and monitoring, yet successful electronic know-your-customer procedures do not necessarily demonstrate effective risk-based compliance. This study examines how the academic literature has conceptualised and evaluated the use of regulatory technology to operationalise risk-based anti-money-laundering and counter-terrorist-financing controls in digital onboarding. A hybrid, sequential evidence-synthesis design combines bibliometric mapping with a targeted structured full-text synthesis. Five modular searches were conducted in the Web of Science Core Collection. The central search intersection generated 39 records; after title-and-abstract screening, 32 records formed the bibliometric corpus. Seventeen strategically selected studies were coded across nine dimensions covering identity proofing, identity assurance, customer money-laundering and terrorist-financing risk assessment, proportionality, regulatory-technology function, governance and auditability, outcomes, supervisory visibility and international cooperation. The results show rapid growth since 2023 but persistent fragmentation across digital identity, blockchain, artificial intelligence, customer due diligence and transaction-monitoring research. Identity proofing is comparatively well developed, whereas the conversion of verified identity data into transparent, updateable and challengeable customer-risk classifications is less consistently specified. The available empirical evidence also indicates that transaction monitoring and dynamic customer-risk modelling produce clearer measurable effects than electronic know-your-customer controls alone. The main unresolved issue is supervisor-readability: whether automated controls generate evidence that authorities can access, understand, challenge and use for intervention and remediation. The study proposes an institution-to-supervisor framework linking identity assurance, risk classification, proportionate controls, model governance, auditable outcomes and privacy-preserving cooperation. The framework provides a finance-oriented basis for evaluating regulatory-technology effectiveness beyond cost reduction and procedural compliance. |
| Keywords: | Regulatory technology; Anti-money laundering; Financial intermediation; Customer due diligence; Digital identity; Risk-based supervision; Model governance; Cross-border cooperation |
| JEL: | G21 G28 O33 |
| URL: | https://d.repec.org/n?u=RePEc:sek:iefpro:16217363 |
| By: | Pranay Anchuri (Offchain Labs) |
| Abstract: | Demand on blockchain-based marketplaces arrives in bursts and at a high rate. On these platforms the data are completely visible, which makes it feasible to compare the bursty demand against the usual load. The congestion manifests as an increased demand for gas, the primary resource a blockchain sells. Existing studies consider how to price the gas. The demand itself, and what it is made of during bursts, has not been measured. We measure it on Robinhood Chain, a layer-2 blockchain that quickly became a venue for trading tokenized equities and memecoins. We collected the data from every block of its first three active months and more than 50 million Uniswap swaps that occurred during bursty periods. We find that a burst trades about as many pools as a quiet period, mostly different ones, and trades them harder, on top of elevated demand that accumulated for hours. With the bursts aligned on their peaks, the median peak is 2.5 times the usual load. Both the rise and the fall of the demand are described by the sum of two exponential functions with different timescales, a slow one of hours and a fast one of minutes. Against a matched quiet period, a burst has 1.05 times the pools, 1.40 times the trades, and 1.21 times the senders. We use two models to explain the arrival of bursts: externally triggered cascades and self-excitation. The former fits the data relatively better. Inside a burst, the entry of each trader into a pool is followed for about 24 seconds by more entries than the existing traders predict. Whether this is because of imitation or because of a shared signal is left open. |
| Date: | 2026–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2610.35738 |
| By: | Evans, Alexander |
| Abstract: | This paper explores whether the US dollar’s dominance in global finance – long a pillar of American geopolitical influence – is being quietly eroded. While the dollar remains the world’s primary reserve currency, its centrality in international payments is increasingly contested. The weaponisation of the dollar, particularly through sanctions and the extraterritorial reach of the New York banking licence, has prompted strategic responses from states such as China, Russia, and India. These strategic responses include the development of alternative payment systems, local currency trade settlements, and digital infrastructure. The paper argues that a ‘hollowing’ of the dollar’s infrastructural dominance is underway – (perhaps very) gradual, partial, but geopolitically significant. This shift may not end dollar supremacy, but it could fragment the global financial system, weaken US sanctions leverage, and diminish the centrality of New York and London as financial hubs. The implications for global order are subtle but potentially profound. A less dollar-dependent system may facilitate a more multipolar world yet diminish liberal democratic power. |
| JEL: | F3 G3 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:141656 |
| By: | De Grauwe, Paul; Ji, Yuemei |
| Abstract: | We show first that the dominance of the dollar as the world currency is bound to decline. Second, there is no other currency today capable of taking over the dollar. The euro is handicapped by a fast decline of the economic importance of the euro area countries in the world. Even a Capital Markets Union will not compensate this, because a Capital Markets Union by itself does not create a safe asset. The latter is necessary as a benchmark to price the myriad of financial assets that make capital markets interesting for investors. Only a political union in which a federal European government has the authority to issue a common debt can achieve this. The most likely scenario, therefore, is that the world monetary system develops into a multi-polar currency system, where a limited number of currencies achieve a strong regional importance without any of them achieving the status of the dominant currency, in a way that the dollar has done in the post-war period. That seems to be the future for the euro, a future that can become a reality faster by developing a euro payment system alternative to the dollar and by creating a full-fledged digital euro. |
| Keywords: | global currency;international payment systems;euro;capital markets union;rule of law |
| JEL: | J1 F3 G3 |
| Date: | 2026–10–26 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:141657 |
| By: | Mathieu Lesueur-Cazé (CERIIM - Centre de Recherche en Intelligence et Innovation Managériales - Excelia Group | La Rochelle Business School, Excelia Group | La Rochelle Business School, CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); Thierry Morvan (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique, UR - Université de Rennes); Laurent Bironneau (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique, UR - Université de Rennes) |
| Abstract: | Blockchain is often portrayed as a technology capable of profoundly transforming supply chains, particularly by enabling distributed governance and reducing inter-organizational transaction costs. However, despite growing academic and managerial interest, its collective adoption remains limited and largely incremental. This article provides an integrative literature review aimed at analysing the mechanisms underlying the relative non-adoption of blockchain in supply chains. The findings show that blockchain is predominantly implemented through centralized or permissioned architectures designed to preserve existing governance structures. Rather than reflecting a technological failure, these choices stem from organizational and institutional logics related to uncertainty management, power relations, and legal accountability. Non-adoption thus emerges as a mode of innovation management through which a potentially disruptive technology is domesticated and integrated into established organizational arrangements. |
| Abstract: | La blockchain est régulièrement présentée comme une technologie susceptible de transformer en profondeur les chaînes logistiques, notamment en favorisant des formes de gouvernance distribuée et en réduisant les coûts de transaction interorganisationnels. Pourtant, malgré une diffusion croissante des discours académiques et managériaux, son adoption collective demeure limitée et largement incrémentale. Cet article propose une revue de littérature intégrative visant à analyser les mécanismes expliquant cette non-adoption relative, au sens de Christensen, dans les chaînes logistiques. Les résultats montrent que la blockchain est majoritairement intégrée dans des architectures centralisées ou permissionnées, conçues pour préserver les structures de gouvernance existantes. Loin de traduire un échec technologique, ces choix relèvent de logiques organisationnelles et institutionnelles visant à maîtriser les incertitudes, les rapports de pouvoir et les responsabilités juridiques. La non-adoption apparaît ainsi comme une modalité de gestion de l'innovation, par laquelle une technologie potentiellement disruptive est domestiquée et intégrée dans la continuité des pratiques établies. |
| Keywords: | Supply Chain management, Blockchain |
| Date: | 2026–05–26 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05751605 |
| By: | Eloisa T. Glindro (Bangko Sentral ng Pilipinas); Mamerto E. Tangonan (Bangko Sentral ng Pilipinas); Rodalee E. Ofiaza (Bangko Sentral ng Pilipinas) |
| Abstract: | Demonetization of high-value denomination currency is not the appropriate policy tool to root out financial crimes and systemic corruption. Instead, it is a blunt instrument that inflicts severe collateral damage to legitimate, cash-dependent populations. The economic costs of removing the legal tender status of high‑value denominations far outweigh the limited benefits of inconveniencing corrupt actors, making it an inefficient policy choice amid the availability of superior alternatives. Corrupt actors can ingeniously adapt by shifting to more sophisticated stores of value such as precious metals, shell companies, real estate, gold, and cryptocurrencies. Successful demonetization requires a science-based, security‑driven, and well- considered approach. Incentive structures created by institutions often drive corrupt behavior. When institutions are weak and the risks of detection and punishment are low, the rewards for corruption rise. Institutional reforms are key to combating systemic corruption and financial crimes: lifting of bank secrecy law, strengthening technology-aided financial intelligence, enforcing asset declaration requirements, implementing cash transaction regulations, and digitizing government services—including disbursements, collections, and procurement systems—to rein in discretionary power. |
| JEL: | E42 E51 D73 |
| Date: | 2025–12 |
| URL: | https://d.repec.org/n?u=RePEc:bhd:dpaper:202511 |
| By: | Chengkai Zhang; Yuhao Li; Elaine Shi; Mengqian Zhang; Lirong Xia; Qishen Han |
| Abstract: | The adaptive clinching auction of Dobzinski, Lavi, and Nisan (FOCS'08) is a cornerstone of mechanism design with budget-constrained bidders, and it has since inspired a broad range of extensions to substantially richer market settings. Adaptive clinching enjoys compelling guarantees: it is Pareto optimal, and truthful bidding is a dominant strategy whenever budgets cannot be overreported. In many real-world environments, however, identities are cheap to create, making resilience to Sybil attacks an additional requirement. Whether the guarantees of adaptive clinching survive when a bidder can split its budget across fake identities has remained open. We introduce a generalized framework for adaptive clinching and prove that it satisfies Sybil-robust incentive compatibility: a bidder cannot benefit from splitting into any finite number of identities with arbitrary value reports, provided their aggregate reported budget does not exceed the bidder's enforceable true budget. Sybil resilience thus joins the list of ideal properties of adaptive clinching. Our work is motivated by practical problems in decentralized finance, where automated market makers (AMMs) are among the most widely used applications. We design a new AMM mechanism that extends classical adaptive clinching in two ways: it supports a two-sided market and protects against two-sided strategies, and it allows the supply function to depend on the auction state. Its one-sided special case is captured by our generalized adaptive clinching framework, and our proof techniques show that the full two-sided mechanism simultaneously satisfies Sybil-robust incentive compatibility and a relaxed notion of Pareto optimality. We argue that these guarantees are essentially the best possible via impossibility results. More broadly, our work reveals new connections between classical algorithmic game theory and modern decentralized blockchains. |
| Date: | 2026–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2610.36629 |
| By: | Sylvain Bellefontaine (AFD - Agence française de développement) |
| Abstract: | In 2023, the Tinubu administration inherited a challenging economic situation, with Nigeria still bearing the scars of the 2014 oil price shock as it entered the COVID-19 crisis. The reforms implemented and the rebound in the hydrocarbons sector have instilled cautious optimism, with a range of positive signals: stabilization of the naira, disinflation, an economic rebound, and a strengthening of the external position. However, in a social context characterized by persistent inequalities and rapid population growth, the economic model remains insufficiently inclusive, while structural constraints—such as low investment, infrastructure deficits, and insecurity—continue to weigh on development. Although central to the economy, oil and gas revenues generate limited employment, and the dynamism of the services sector (particularly fintech and creative industries) remains insufficient to drive the broader economy. |
| Keywords: | Macroeconomic, Development, Economic growth, Nigeria, Financial systems |
| Date: | 2026–04–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05762360 |