Thailand Begins Pilot Retail CBDC Project
The Central Bank of Thailand has launched a retail pilot project using the central bank’s digital currency (CBDC).
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Americans Are Sceptic About CBDC: Survey
A recent survey found that twice as many Americans are against (34%) the Federal Reserve offering a CBDC compared to those who favour centralized cryptocurrencies (16%)
Reserve Bank of Australia Tests CBDC Use Cases in Pilot
In Australia, the Reserve Bank, in collaboration with the Digital Finance Cooperative Research Centre (DFCRC), demonstrated the potential use cases and economic benefits of the central bank’s digital currency (CBDC).
NY Fed Partners With Singapore on Multicurrency Cross-Border CBDC
Project Cedar is a joint initiative between the New York Federal Reserve and MAS exploring the technical viability of multilateral CBDC blockchain platforms to improve cross-border payments
Ripple Rolls Out CBDC Platform
Ripple has announced the introduction of a comprehensive CBDC platform.
Australia Conducts First CBDC FX Transaction
In the framework of a live pilot for the country’s potential central bank digital currency (CBDC), Australia has made a historic FX blockchain transaction
Samsung and Bank of Korea Collaborate on Offline CBDC
The media reported that Samsung is currently working with the Bank of Korea to create a central bank digital currency (CBDC).
Visa Designed CBDC-Based Finance Platform for Farmers
Identifying new use cases for Brazil’s central bank digital currency (CBDC), Visa created a programmable finance platform for SMEs, particularly farmers, using tokenized farm contracts to access global capital markets
Zimbabwe Unveils Gold-Backed CBDC
Zimbabwe has presented a digital currency that is backed by gold.
Brazil Pilots CBDC in Stores
Central Bank of Brazil is ready to start trials of its proposed CBDC across various use cases including in-store and offline NFC payments
Nigerian SEC Considers Tokenized Assets Not Crypto
Preparing new industry regulations for digital asset platforms, Nigeria doesn’t plan to include cryptocurrencies According to Bloomberg, the Nigerian Securities and Exchange Commission (SEC) is considering allowing licensed digital exchanges to list tokens backed by certain assets. However, the regulator clarified it didn’t concern cryptocurrencies. Despite the previous reports that the government of Nigeria is preparing to […]
Federal Reserve Governor Says CBDC Risks Likely Greater Than Benefits
The head of the Federal Reserve System, Michel W. Bowman, said that the advantages of the central bank’s digital currency (CBDC) are more likely to exceed the risks associated with its use.
U.S. Lawmakers Set to Examine Future of US Stablecoins
In the United States, hearings are due to take place this week, according to the results of which local legislators will decide on the future of stablecoins.
International CBDC Unveiled: What Does It Do?
The Digital Currency Monetary Authority unveiled an international CBDC-like digital coin designed to speed up cross-border transactions
Bank of England Builds Its CBDC Team
The media reported that the central bank of England has begun to recruit a team of employees who will deal with the digital currency of this financial institution.
UAE Сentral Bank Selects Technology and Legal Partners for CBDC Project
The UAE Central Bank (CBUAE) has chosen Clifford Chance, R3, and G42 Cloud as partners in the implementation of the digital currency creation project.
Central Bank Digital Currency (CBDC) News
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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