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 has announced the introduction of a comprehensive CBDC platform.
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
The media reported that Samsung is currently working with the Bank of Korea to create a central bank digital currency (CBDC).
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 has presented a digital currency that is backed by gold.
Central Bank of Brazil is ready to start trials of its proposed CBDC across various use cases including in-store and offline NFC payments
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 […]
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.
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.
The Digital Currency Monetary Authority unveiled an international CBDC-like digital coin designed to speed up cross-border transactions
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.
The UAE Central Bank (CBUAE) has chosen Clifford Chance, R3, and G42 Cloud as partners in the implementation of the digital currency creation project.
The Central Bank of the UAE and the Reserve Bank of India have agreed to jointly explore innovation in financial products and services, especially Central Bank Digital Currencies (CBDC)
Florida Governor Ron Desantis has launched an initiative to ban central bank digital currencies (CBDC).
The Swiss Bankers Association released a white paper suggesting the digitalisation of the Swiss financial system requires a Swiss franc joint deposit token
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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