Swift continues exploring CBDC interoperability, proceeding to the next testing phase with three central banks / monetary authorities and over 30 financial institutions involved
Last week, the central bank of Colombia released a report suggesting that limiting CBDC with a high degree of probability may be the right strategy for a financial institution.
The set of partners at launch of the Mastercard CBDC Partner Program includes Ripple, Consensys, Fluency, Idemia, Consult Hyperion, Giesecke+Devrient and Fireblocks.
Cambodia’s central bank digital currency (CBDC), Bakong, will become the foundation for an expanding international payment system for Asian countries
The Nigerian central bank hopes that the addition of NFC technology will improve the adoption rates for the country’s CBDC – eNaira
The Bank for International Settlements (BIS) conducted a new study, according to the results of which the growth of the popularity of digital currencies of the central bank (CBDC) was recorded.
China’s digital yuan central bank digital currency (CBDC) can be used for fare payments even if the passenger’s mobile phone has no signal or is out of battery
The pilot project will show whether Ripple’s new end-to-end CBDC platform could help boost Colombia’s high-value payment system
Central Bank Digital Currency (CBDC) has recently been a hot topic in the financial world. As a result, many central banks worldwide are exploring the possibility of introducing their digital currencies, which their respective governments would back.
China has been leading the way in developing a CBDC, with their digital currency electronic payment (DCEP) already in the testing phase. Other countries are following suit, with the European Central Bank announcing that they will begin a two-year investigation into the potential for a digital euro. The Bank of Japan is also conducting research into a CBDC.
Proponents of CBDCs argue that they could increase financial inclusion, reduce the costs of transactions, and improve payment systems. However, there are concerns about privacy and the potential for CBDCs to be used for illicit activities.
Overall, the development of CBDCs is an exciting and rapidly-evolving area in the financial world, with many potential benefits and challenges to consider.
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