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What is a CBDC?
A central bank digital currency (CBDC) is a new digital form of sovereign money. CBDCs are issued by the government, where monetary policies are still formed by the central bank.
A central bank digital currency (CBDC) is a new digital form of sovereign money. CBDCs are issued by the government, where monetary policies are still formed by the central bank.
Economic Affairs Committee Unsure UK Needs Retail CBDC
The United Kingdom’s Economic Affairs Committee has shared its views on the proposed plans by the country to launch a Central Bank Digital Currency (CBDC) or digital Pound.
China Launches Digital Yuan Pilot Wallet for Android and iOS Users
The People’s Bank of China has extended its pilot tests for the country’s Central Bank Digital Currency (CBDC) or digital Yuan with the launch of a new mobile wallet for Android and iOS users.
Mexican Central Bank Reveals CBDC Distribution in 2024
Banco de México, the Central Bank of Mexico has revealed that its projected CBDC will be up for public distribution by 2024.
RBI Says India Will Initially Go for Basic Model For CBDC
India’s central bank plans to launch a basic model of the CBDC before implementing a more sophisticated version.
Thai Delays Testing Its Retail CBDC Until Late 2022
Thailand will be slow but prudent in testing its CBDC to ensure that it does not have problems with funder transfers and other payments.
Crypto Review 2021: Full of Uncertainty and Volatility
Before the end of 2021, Blockchain.News summaries serval key events and milestones that the crypto sector has witnessed this year.
France & Switzerland Central Banks Succeed Pilot CBDC Trials in Conjunction with BIS
The trio of the Central Banks of France, Switzerland, and the Bank of International Settlements (BIS) has successfully conducted a wholesale Central Bank Digital Currency (wCBDC) trial involving both country’s fiat notes.
America to Build its Digital Dollar Based on General Consensus
The US Treasury Secretary Janet Yellen said that the move by the American Federal Reserve to develop a Digital Dollar or Central Bank Digital Currency (CBDC) can only take place following a general consensus amongst all parties of interest.
Bank of Tanzania Preparing for the Launch of CBDC
The Bank of Tanzania is preparing to start exploring a possible launch of a central bank digital currency (CBDC). The central bank termed the move inspired by Nigeria’s central bank launch of its national digital currency.
Japan’s Major Banks Join Consortium of Private Firms to Launch Yen-Based Digital Currency
The private sector in Japan has joined forces to examine the trial and launch of a CBDC as a way of streamlining large funds transfers and settlements among financial firms.
India Reportedly Postpones to Test Digital Rubee in Q1 in 2023, Amid Banning Private Cryptos
Reportedly, the Indian government has postponed the trial date of testing digital Rubee until Q1 of 2023, the digital form of central bank digital currency (CBDC), according to local media outlets.
Nigeria's E-Naira Gains Momentum, Tackles Influence of Volatile Cryptos
Nigeria's further efforts to curb the influence of cryptocurrencies have begun to bear fruits as its introduction of a centralised digital currency eNaira has lured about half a million users within three weeks.
Digital Rubble Prototype to be Introduced in Early 2022
In line with the development of its Central Bank Digital Currency (CBDC) dubbed the Digital Rubble, the Central Bank of Russia is set to launch a prototype platform for the new form of money in early 2022.
European Digital Currencies Soon to Become Legal Tenders, ECB Says
Central Bank Digital Currencies may soon become legal tenders in their jurisdictions as planned by major central banks in Europe as officials are currently studying such initiatives.
MAS Sees Potential in Retail-CBDC for the City-State
Despite its plans to float Project Orchid, the technology infrastructure, and the technical competencies necessary to issue a digital Singapore dollar, the Monetary Authority of Singapore (MAS) is not in a hurry to follow the bandwagon.
Banks Will Start Mulling the Possibility of Crypto Trading in 3 Years: Former Citi CEO
According to Vikram Pandit, most financial institutions are likely to integrate digital currency trading services within the next one to three years
HK FinTech Week: China’s eCNY Wallet Registers 140M Users, Rises 6 Times More, says PBoC Official
China’s digital yuan wallet has witnessed its user base rise six times more just after the past four months to hit 140 million active accounts.
Mastercard Reveals to Develop CBDC as The Private Payment Provider
Digital payment Mastercard CEO Michael Miebach expresses his strong support for CBDC on the Q3 earnings conference call.
eNaira: Nigeria Rolls Out Africa’s First Central Bank Digital Currency
Nigeria has become the first nation in Africa to officially launch a CBDC.
Burnt Ether Tops $2B as Ethereum 2.0 Deposit Contract Continues to Grow
Burnt Ether stands at 608,567 ETH worth $2.089 billion since the London Hardfork or EIP 1559 upgrade went live on August 5.
Chinese Authorities Wants McDonald's to Expand its Digital Yuan Acceptance
Chinese authorities are reportedly mounting pressure on McDonald’s as well as other American firms to expand their acceptance of the e-CNY
France Central Commission Proceeds CBDC-Backed Treasury Bond Trials
The Central Bank of France commissioned a trial involving the settlement of treasury bonds by using Central Bank Digital Currencies (CBDCs).
Ghana Examining Offline Use of Its “E-Cedi” CBDC
Ghana is exploring the ability to carry out secure offline transactions for its Central Bank Digital Currency.
G20-Backed FSB Sets Out Roadmap for Stablecoins and CBDCs, Optimizing Cross-Border Payment System
The FSB, a G20-backed think tank, has cited the duo of government-issued CBDCs and stablecoins as key drivers in the pursuit of better cross-border payments.
G7 Set to Release the Guidelines for the Creation of CBDCs
The Group of Seven (G7) industrialized nations are looking forward to accepting the proposals of a draft which seeks to enshrine some set of standards in the creation and issuance of CBDCs.
National Bank of Georgia to Launch CBDC Pilot Program in 2022
The National Bank of Georgia is set to launch a pilot program for its Central Bank Digital Currency (CBDC) dubbed the Digital Lari by 2022.
HKMA Releases Whitepaper on Proposing the issue of CBDC: e-HKD
The Hong Kong Monetary Authority (HKMA) has published a Whitepaper to discuss the technical consideration of its proposed CBDC dubbed the e-HKD.
Visa Developing Interoperable Transfers among CBDC Payments
Visa is rolling out a new interoperability feature facilitating digital currency payments among different parties. Visa aims to establish a bridge payment between digital currencies on the blockchain ecosystem.
New Zealand Eyeing the Possibility of Rolling Out a CBDC
New Zealand is in the race of setting up a central bank digital currency (CBDC) because it sees it as a stepping stone towards attaining an efficient monetary policy tool.
PayPal, Visa, Amazon Named as Core Members to Help Bank of England Work on Developing UK’s CBDC
The Bank of England has announced the members of the technology and engagement forums, which will help the central bank coordinate exploratory work on a potential UK’s CBDC.
Ripple Labs to Provide Infrastructure for Establishing Bhutan’s Digital Ngultrum
Bhutan has tapped the services of blockchain payments firms Ripple Labs Inc to design its Central Bank Digital Currency (CBDC), the Digital Ngultrum.
Turkish Central Bank Announces Partnership with Technology Firms to Develop CBDC
Turkey’s central bank has expanded its commitment towards launching a CBDC. The monetary authority has formed partnerships with technology firms to develop a prototype of a national digital currency.
ECB Member Says Should not Treat Banks as “Endangered Species” in CBDC Plans
ECB Governing Board member Jens Weidmann does not want banks to be pampered concerning CBDC development to fuel competition.
Ex-IMF Top Economist Shortlisted to Lead Roxe's CBDC Pursuit
Former IMF economist Andreas Jobst will lead Roxe's CBDC Solutions built to leverage the Bitcoin hashrate.
Four Countries to Conduct Cross Border CBDC Payment Trials
The Bank for International Settlements (BIS) has joined forces with the central banks of South Africa, Malaysia, Singapore, and Australia to kick start a project dubbed Dunbar aimed at testing the use CBDCs in cross border payments.
Chinese State-Owned Banks Start Exploring Digital Yuan Use-Cases for Buying Investment Funds & Insurance Products
Two Chinese state-owned banks have begun working to fund management and insurance companies to explore the use cases of digital yuan CBDC for purchasing investment funds and insurance products online.
MAS Shortlists 15 Firms to Help Pilot its CBDC Program
15 candidates have been chosen to continue vying for the role to help deploy Singapore's CBDC program
India’s Central Bank to Begin Testing Its CBDC in December
The governor of India’s central bank recently said that the regulator is preparing to start trial programs for its digital rupee by December. The central bank revealed that it will examine the functionality of the national central bank digital currency to ascertain the suitability of the underlying technology.
Ukraine Plans to Pilot CBDC Digital Hryvnia for Salary Payments
Ukraine has announced pilot testing plans for central bank digital currency to pay the national digital currency (CBDC) to its workers' salaries.
The Bank of Jamaica Suggests Court Order Approval Required for Tracking CBDC Transactions
The Bank of Jamaica (BOJ) believes it must obtain a court order approval for tracking CBDC transactions, apart from wallet holders and issuers.
Bank of Korea Initiates CBDC Pilot Plan on Samsung Galaxy Smartphones
Samsung Electronics will participate in South Korea’s Central Bank Digital Currency pilot project. The electronics tech giant will help to determine whether CBDC transactions could be conducted on smartphones without the availability of an internet connection.
The Bank of Ghana Cooperates with German Giesecke+Devrient to Conduct its CBDC Pilot
The Bank of Ghana has launched cooperation with Giesecke+Devrient to conduct a pilot project for its Central Bank Digital Currency (CBDC) in West Africa Ghana.
Bank of Jamaica Mints First Tranche of CBDC
The Bank of Jamaica has minted its first batch of its CBDC, the Digital Jamaican Dollar, and has entered a pilot testing phase.
Venezuela to Launch its Central Bank Digital Currency in October
The Central Bank of Venezuela officially announced to launch central bank digital currency (CBDC) in October this year.
China Continues to Influence Crypto Activities Worldwide, Study says
Blockchain data platform Chainalysis published a report Wednesday, indicating China remains one of the largest cryptocurrency markets worldwide and continues to influence crypto activities worldwide.
IMF to Play a Crucial Role in Monitoring Digital Money Evolution
The IMF is set to play a crucial role in monitoring the advancement of digital currencies.
About 90 Percent of Countries Representing the Global Economy Exploring CBDCs, Report says
A recent testimony by Julia Friedlander to Congress has revealed that more countries are exploring CBDCs, however, the US is lagging behind.
The Central Bank of Nigeria to Conduct its Central Bank Digital Currency Pilot on October 1
The Central Bank of Nigeria (CBN) officially announced to pilot its central bank digital currency programme on the Hyperledger Fabric blockchain on October 1.
GOP Senators Urge US Olympic Committee to Bar Athletes from Using Digital Yuan, China Rebukes Criticism
Three U.S. Republican senators urged United States Olympic & Paralympic Committee (USOPC) to ban American athletes from acquiring or using digital yuan (e-CNY) in the Beijing Winter Olympics in 2022. China rebukes their criticism.
UAE to Launch and Test in-house Digital Currency
The Central Bank of the United Arab Emirates has plans to develop an in-house digital currency by 2026.
Central Banks Doubt Cryptocurrency Limited Role in Reserve Operations
A survey conducted by UBS investment bank shows that central banks do not expect a cryptocurrency to replace gold as a digital reserve asset.
French Central Bank Succeeds in CBDC Experiment in the Issuance of a Government Bond
The Banque de France or Bank of France, the central bank of France, has prospered in undertaking an experiment on using a central bank digital currency (CBDC) to issue a French government bond.
The Bank for International Settlements Gives CBDCs Full Backing
The Bank for International Settlements (BIS) announced its full support for developing central bank digital currencies (CBDCs) in pursuing financial and monetary stability through international cooperation with the mandate and support by central banks.
Bitcoin Transaction Fees as a Percentage of Total Miner Revenues Hit Lowest Point Since June 2020
BTC transaction fees have plunged based on the ongoing Chinese crackdown on Bitcoin mining facilities.
Bank of France Conducts CBDC Test to Settle Listed Securities
The French central bank has conducted an experiment involving digital MNBC and the settlement of securities.
Bank of Israel Has Conducted Digital Currency Shekel Crypto Testing
Israel announced that the country has already conducted a pilot test on its digital shekel as part of its efforts to issue the Central Bank Digital Currency for public use.
Digital Euro is Designed to "Protect Consumer Privacy"- says ECB Board Member
ECB Board Member Fabio Panetta said Digital Euro will offer a good level of privacy to consumers.
Digital Euro Will Pull Out Traditional Bank Deposits by 8%, Says Morgan Stanley
The advent of the Digital Euro may spark a reduction in cash deposits by 8%, estimated by Morgan Stanley.
France and Switzerland Launches Cross-Border Central Bank Digital Currency Trials
The Central Bank of France and Switzerland have launched a joint cross-border CBDC trial.
Hong Kong Lists CBDC Development as Strategy Fintech 2025 Roadmap
The Hong Kong Monetary Authority has enlisted its e-HKD development as part of its Fintech 2025 strategy.
China's CBDC Testing Advances along 19.25M Yuan Distribute to Residents
The Digital Yuan testing is extending to Shanghai as residents will be given free money worth 19.25 million yuan.
Ghana Apex Bank Says To Launch Central Bank Digital Currency
The Bank of Ghana Governor, Ernest Addison said the agency is now “in the advanced stages” of introducing its CBDC.
Russia’s Tinkoff Faces Regulatory Challenges to Offer Crypto Investments
Tinkoff's CEO complained that Russia's biggest online bank is unable to offer cryptocurrencies for clients due to the tough stance from Russia's central bank.
$6.2 Million Worth of Digital Yuan is Officially Piloted in Beijing
The Chinese digital renminbi is officially piloted in the capital of China-Beijing. The authority plans to issue a total of $6.2 million worth of digital currency to Beijing residents through a lottery, totaling 40 million RMB.
Bridgewater Associates’ Ray Dalio: China’s Yuan Will Become the Next World’s Reserve Currency
Ray Dalio disclosed that China’s yuan will become the global reserve currency sooner than expected and the digital yuan would be more competitive than the US digital dollar.
CSRC Director Yao Qian: CBDCs Can Run on Ethereum and Diem
China Securities Regulatory Commission Director suggests that China can utilize the BaaS infrastructure of public blockchain networks for CBDCs establishment.
OKEx Allows Traders to Purchase Tether through Brazilian Reals via PIX
OKEx exchange officially announced establishing a strategic partnership with CuboPay, a local payment processor in Brazil. Exchange users are now allowed to use Brazilian real through PIX in exchange for Tether purchases.
Bank Indonesia Plans to Launch its Central Bank Digital Currency
Bank Indonesia is planning to launch its central state digital currency in response to the increasingly prosperous cryptocurrency market.
South Korea Seeks Tech Partner to Build the Pilot Program for CBDC
South Korea's central bank on Monday said it would choose a technology supplier to build a pilot platform for a digital currency, moving a step closer to creating a central bank-backed digital currency.
HSBC CEO: No Plans for Launching Crypto Trading
HSBC revealed that the bank has no plan to offer virtual currency as investments to their clients by starting cryptocurrency trading.
US Fed Aims To Publish Discussion Paper on CBDC This Summer
The US Federal Reserve will issue a discussion paper about CBDC this summer.
The Bank of Israel to Accelerate Its CBDC Research for a Digital Shekel
The Bank of Israel is accelerating its CBDC research.
Kazakhstan Launches Public Consultation for Its Proposed CBDC
Kazakhstan is advancing its digital tenge project with a use case design and stakeholder consultation.
National Bank of Georgia Considers Launching Its Own Central Bank Digital Currency
The National Bank of Georgia believes that the CBDCs have become essential for the financial ecosystem to improve financial inclusion and enhance domestic payment systems.
Bahamas Ranks First as The Country with Most Advanced Retail CBDC Development
The Bahamas narrowly beats Cambodia because its CBDC is available to all citizens.
UK Announces the Launch of its CBDC Task Force
The UK has launched a CBDC task force where the Bank of England and the HM Treasury will collaborate to study CBDC.
ECB Publishes Results of Its Digital Euro Public Consultation
The ECB has released the result of its Digital Euro public consultation. Among many things, respondents demand for privacy and offline usability.
Swedish Central Bank Delays CBDC Plans Again
The world’s oldest Central Bank, Sweden’s Riksbank, published results of its pilot project for its proposed central bank digital currency, the e-krona.
ECB to Announce by Mid-2021 Whether It Will Move Forward with CBDC Issuance
European Central Bank (ECB) President Christine Lagarde said that a decision on whether or not to launch a CBDC will be made by the middle of this year.
Ripple to Acquire 40% Stake in Asia Cross-Border Payments Firm Tranglo
Ripple announced its plans to take a 40% stake in Asian cross-border payments company Tranglo.
Coinbase Crypto Exchange to Support CBDCs in the Future as Long as They Meet Listing Standards
Brian Armstrong, Coinbase's CEO, has stated that the crypto exchange was open to the idea of supporting central bank digital currencies (CBDCs) on its network in the future.
Fed Chair Powell: Cryptocurrencies not Useful Stores of Value and CBDC Issuance Will not be Immediate
Federal Reserve Chairman Jerome Powell’s stance on Bitcoin and cryptocurrencies remains unchanged – he views them primarily as “a speculative asset.”
Ripple says XRP Can Be Used as a Bridge Currency for CBDCs, Will This Push XRP Higher?
Ripple released a new whitepaper that depicted XRP's utility as a bridge currency for CBDCs. XRP has broken through the key level of $0.50. What should be expected of the cryptocurrency in the short term?
Next 2-3 Years to be a Turning Point for Bitcoin, BTC to follow Tesla's Footsteps - Deutsche Bank Analyst
According to Deutsche Bank analyst and Harvard economist Marion Laboure, the next two to three years should be a turning point for Bitcoin.
Thai Central Bank Issues Stern Warning about Thai Baht Digital (THT) Stablecoin
The Bank of Thailand is warning citizens against using the illegal THT stablecoin.
BOJ Governor: Japan Should Prepare "Thoroughly" for the Issuance of its Digital Currency
Haruhiko Kuroda, the Bank of Japan (BOJ) governor, has highlighted the need for the nation’s central bank to prepare thoroughly for the rollout of its digital currency with initial experiments expected for this spring.
Jamaica to Launch Central Bank Digital Currency in 2022
Jamaica’s Minister of Finance Nigel Clarke has announced that the country intends to launch its central bank digital currency (CBDC) in 2022.
The Reserve Bank of India Has its Eyes on CBDC
The Governor of the Reserve Bank of India says the monetary authority is “very much in the game” to launch a CBDC.
Ripple to Build The Core Ledger that Will Power Central Bank Digital Currencies
Ripple has been making headway in pursuing projects involving central bank digital currency issuances.
Bitcoin Will Not Likely Be Held by Central Banks in the Future, Says ECB President Christine Lagarde
Christine Lagarde, the President of the European Central Bank, has once again made her stance on Bitcoin clear.
G7 Will Meet to Discuss CBDC and Digital Tax this Week Says Japan’s Finance Minister
The Group of Seven (G7) will meet on Feb.12 to discuss central bank digital currencies (CBDC), digital taxation and global debt according to Japan’s Finance Minister Taro Aso.
Ripple GM Reveals that the Blockchain Firm Is Actively Seeking to Partner with Banks for CBDC
Amid the COVID-19 pandemic and the SEC lawsuit, Ripple continues to thrive through partnerships with financial institutions leveraging their payment services.
Ripple Operations Expand in Asia as it Looks to Explore CBDCs with Central Banks despite SEC Legal Pressure
Despite the Securities and Exchange Commission’s lawsuit against its firm, Ripple has continued to expand its services as a fintech firm.
BOE Governor: Bitcoin and Trending Cryptocurrencies May not be Viable in the Future but Stablecoins Are the Exception
Speaking at the World Economic Forum, the Bank of England governor Andrew Bailey discussed how cryptocurrencies would fit in the current governance system.
Former Canadian Prime Minister Sees Bitcoin As A Potential Future Reserve Currency
Stephen Harper, the former prime minister of Canada, has named Bitcoin as a possible reserve currency in the future.
Central Bank Digital Currency (CBDC) Race: 2020 Year in Review
As 2020 comes to a close, we take a look back at the most important developments regarding the pursuit of Central Bank Digital Currencies (CBDC).
CBDCs Are Bad News to European Banks, says Bank of America Analysts
Bank of America analysts have made important revelations concerning the launch of CBDCs. They recently disclosed that CBDCs are bad news to European Banks.
StanChart CEO Bill Winters: Mass Adoption of Digital Currencies is "Absolutely Inevitable"
Standard Chartered CEO Bill Winters delved into the issue of digital currencies and said that he believes their widespread creation and rollout was absolutely inevitable.
Swiss Central Bank Announces its Central Bank Digital Currency Trial a Success
The digital franc trial entailed settling large scale transactions between financial institutions through an experiment dubbed Project Helvetia.
German Finance Minister Calls for Speedy Interventions in the Rollout of a Digital Euro
German Finance Minister, Olaf Scholz, sees the digital euro as an ideal innovation to meet the high demand for digital money from businesses and consumers in Europe.
Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event
China’s central bank is scheduled to test its digital yuan dubbed the Digital Currency Electronic Payment (DCEP) in a second red packet lottery event in Suzhou on December 12.
PayPal CEO Dan Schulman Says He is Bullish on Bitcoin As a Currency
PayPal CEO Daniel Schulman noted in an interview with CNBC that he is bullish on the future of Bitcoin, cryptocurrencies, and Central Bank Digital Currencies
IMF Believes Central Banks Need Strong Legal Frameworks for CBDCs to Work
The issuance of CBDCs by apex global banks has become a hot topic in the crypto space, and the IMF has delved into it with some precautionary measures.
Over 30 Japanese Firms to Conduct Digital Yen Pilot Test
Major Japanese companies from various sectors will collaborate to engage in a pilot test to issue a private digital currency or Digital Yen.
Japan May Take Several Years To Issue a CBDC says Former BoJ Executive
Hiromi Yamaoka, a former executive of the Bank of Japan believes the central bank will need several more years before it can issue its proposed CBDC.
Bank of England Reveals How Banks Can Adjust to Cryptocurrency Growth
The Deputy Governor of the Bank of England Jon Cunliffe has said that it is not the bank's job to protect commercial banks from the impact of cryptocurrencies.
US Federal Reserve Weighs the Pros and Cons of a Digital Dollar CBDC
The US Federal Reserve has continued to research the benefits and impact of implementing a central bank digital currency (CBDC).
UK Treasury Drafting Private Stablecoin Regulations and Researching CBDC with BoE
The United Kingdom’s Treasury Department has announced it is drafting private stablecoin regulation while it continues central bank digital currency (CBDC) research.
COVID-19 Pandemic-Induced Crisis is Pushing CBDC Adoption, says Bank of Russia
Financial regulators are keeping a keen eye on central bank digital currencies (CBDCs) because they see them as silver linings.
Slow and Steady Wins the CBDC Race: Why the US is not Concerned with China's Speed
Slow and steady wins the CBDC Race: there are several reasons why the United States' digital dollar development has an edge over China’s speedy approach to its digital yuan.
PayPal CEO Announces Plans for Cryptocurrency Business Expansion to Reach More Users
PayPal CEO discussed the integration of cryptocurrency into its business and potential business partnerships with central banks.
Stablecoins Will See Bigger Adoption than CBDCs, says Circle Founder
Central bank digital currency (CBDC) across global economies appear to be inevitable, as central banks have been issuing their own pilot tests of CBDC.
Hong Kong Securities Regulator Aims to Tighten Digital Asset Regulations Later This Year
The CEO of the Hong Kong Securities and Futures Commission (SFC) recently stated that security tokens must be regulated by the regulatory authority.
Do Europeans Want a Decentralized Digital Euro? Asks ECB Survey
Do Europeans want a decentralized digital euro that does not rely on a central intermediary? The European Central Bank is asking for public opinion on CBDC with a new survey.
Facebook's Libra Sparked CBDC Race, COVID-19 Made Central Banks Realize Its Necessity
Digital innovation and central bank digital currency adoption (CBDC) have been on the rise despite the ongoing COVID-19 pandemic. What has driven CBDC forward?
Reserve Bank of Australia Will Explore Wholesale CBDC with ConsenSys Ethereum POC
The Reserve Bank of Australia has partnered with leading Australian banks and ConsenSys Software to explore wholesale CBDCs and distributed ledger technology (DLT).
The Bank of Russia Says CBDC Will Eliminate Challenges Caused by Cryptocurrencies
An executive working at Russia’s Central Bank has stated that a Central Bank Digital Currency could serve as a response to problems being created by cryptocurrencies.
Cambodia Officially Launches Its State-Backed Digital Currency “Bakong”
The National Bank of Cambodia has announced an official launch of a national digital currency that would operate via smartphone apps.
Bank of Canada Governor Advocates Globally Coordinated Approach to CBDC
The governor of the Bank of Canada Tiff Macklem has advocated for a “globally coordinated” approach with respect to CBDC development.
Bitcoin Can’t Drive Financial Inclusion for Unbanked But CBDC Can says Mastercard CEO
Ajay Banga, the CEO of Mastercard believes Bitcoin is unable to function as an inclusive currency for the world’s unbanked due to volatility, CBDCs are a different story.
China to be First Cashless Society with Digital Yuan Launch in 2022, SCMP Report
China is poised to become the world’s first cashless society should roll out its Digital Yuan DCEP before it hosts the 2022 Winter Olympics according to the SCMP
Bank for International Settlements to Issue a PoC CBDC With the Swiss Central Bank Before the End of 2020
The Bank for International Settlements is set to issue a CBDC at the Proof of Concept stage in conjunction with the Swiss National Bank before year-end.
China's DCEP Will Not Compete With WeChat and AliPay
China’s digital currency also known as the Digital Currency Electronic Payment (DCEP) will not be competing with WeChat and AliPay says Research head.
Bank of Japan Wants to Hear From Public About Digital Yen Development
The head of Bank of Japan (BOJ)’s payments and settlement systems department, recently said that the Central Bank was seeking public opinion on the digital yen.
People's Bank of China Seeks to Prohibit the Creation of Digital Tokens
The People’s Bank of China (PBOC) is calling for public opinion or feedback in line with its plans to revise its extant banking laws
EY-Led Consortium Submits Bid To Help Develop South Korea's CBDC
A consortium led by Ernst & Young has made the first and only bid to construct the business model for the Bank of Korea’s Central Bank Digital Currency project.
Philippines Central Bank To Research Further Before Launching its CBDC
Philippines Central Bank governor Benjamin Diokno has recommended further research with respect to the proposed Digital Peso, central bank digital currency.
Hong Kong to “Seize the Opportunities” of China’s Digital Yuan CBDC Development
The Hong Kong government is considering collaborating with the mainland Chinese authorities on the country’s central bank digital currency (CBDC) project.
Mainstream Adoption of DeFi and DLT Is Coming, It Will Replace Banks, Says US Currency Comptroller
The US acting Comptroller of the Currency disclosed that roles played by banks will soon change due to cryptocurrencies and decentralized finance (DeFi).
The Bahamas Becomes First Country to Launch its CBDC, the ‘Sand Dollar’
The Bahamas has launched the Sand Dollar, making it the first country in the world to officially release a central bank digital currency (CBDC) beyond the testing phase.
Deutsche Bank Executive Says CBDC is More of a Political Decision
Deutsche Bank Executive Burkhard Balz has noted that the decision to launch a CBDC by any country may be more of a political decision than a technical one.
Messaging Giant LINE is Developing a Platform for CBDC
Japanese messaging giant Line is developing a platform to aid Asian central banks in their pursuit of central bank digital currencies (CBDC).
China’s $1.5 Million Digital Yuan Giveaway in Shenzhen Left Analysts Excited, Citizens Unimpressed
As part of China’s rollout of its central bank digital currency (CBDC), the government had a $1.5 million giveaway of digital yuan to its citizens in Shenzhen.
Fed Reserve Chair Says Central Bank Needs to Issue Digital Currency Right not First
Jerome Powell, the Federal Reserve chairman, discussed digital currencies and cross-border payments on an IMF panel, revealing the United States' approach to CBDC.
Advancing CBDC: Bank of Canada In Search of Digital Currency Economist
The Bank of Canada is in search of an economist with expertise in digital currencies and financial technologies to help advance its CBDC drive.
ECB to Meet the Growing Demand for Digital Payments with a CBDC Digital Euro
President of the ECB Christine Lagarde broached the topic of CBDC issuance and why the bank was seriously considering the creation of a digital euro.
Reserve Bank Of New Zealand Wants to Preserve Cash, Monitors CBDC Developments
The Reserve Bank of New Zealand—Te Pūtea Matua—is seeking to preserve the benefits of cash but is paying close attention to the future of money and CBDC development.
Bank of Spain Plans to Look at Design Proposals and Economic Implications of a CBDC
Spain’s Central Bank mentioned that it would study the design proposals and economic implications of a CBDC in the country.
Five Russian Banks Ready to Lead Russia's CBDC Pilot Test
Five Russian Banks will participate in the pilot test for the Bank of Russia’s proposed Digital Rubble following the release of its public consultation report.
Bahamas Looks to Deploy its CBDC The Sand Dollar Across Borders
The Central Bank of the Bahamas (CBOB) has says it wants its digital currency dubbed the Sand Dollars integrated with other countries' currency.
CBDC Project will Help Enhance Japan's "Settlement System," Says Bank of Japan Executive
Bank of Japan's Kazushige Kamiyama has revealed that the country’s proposed central bank digital currency will enhance the country’s settlement system.
The Bank of Russia Wants Strict Limits for Non-Professional Russian Crypto Investors
Russia has published a proposal that sets strict limits on the amounts of digital assets acquired by non-professionals investors in a year.
Reserve Bank of Australia May Still Have Its Eye on CBDC After All
Reserve Bank of Australia's Tony Richards has said that the RBA will continue to consider the potentials of issuing a CBDC.
Central Bank Digital Currencies Are Not Like Bitcoin or Cryptocurrency
CBDC are digital assets, but they are not cryptocurrencies and in fact strike at the heart of the very philosophy that brought Bitcoin into existence.
Bank of Russia Reveals the Possibility of Developing a CBDC in Public Consultation Report
In the recently published public consultation on the digital rubble, the Bank of Russia acknowledged it is considering the potentials of issuing a CBDC.
European Central Bank is Consulting the Public on CBDC
The European Central Bank has launched a public consultation to seek public opinion on its proposed digital Euro or central bank digital currency (CBDC).
China to Award DCEP Worth $1.5 Million to Shenzhen Residents to Test Digital Yuan
China’s central bank, the People's Bank of China (PBOC), has teamed up with Shenzhen city to distribute DCEP worth 10 million yuan, approximately $1.5 million to residents.
Spanish Lawmakers Receive Bitcoin in Cryptocurrency Education Campaign
All 350 Deputies of the Spanish Congress have received Bitcoin as part of an educational campaign aiming to teach legislators about the uses and functions of crypto.
Bank of Japan to Launch CBDC Proof-of-Concept in 2021
The Bank of Japan (BOJ) has revealed its plan to kick start an early proof-of-concept on the issuance of its central bank digital currency (CBDC) next year.
Dutch Central Bank Grants First-Ever Crypto Service Registration
The Amsterdam Digital Asset Exchange (AMDAX) has secured the De Nederlandsche Bank (DNB) in line with EU Anti Money Laundering guidelines.
BIS and Central Bank Research Identifies Principles and Core Features For CBDC Issuance
The BIS along with seven central banks has released a report identifying the principles necessary for CBDCs to help central banks meet their public policy objectives.
South Korea’s CBDC Pilot to Enter into Distribution Phase Next Year
South Korea’s central bank is looking to start the testing of the distribution of its central bank digital currency (CBDC) next year.
Estonia's Central Bank Launches Research Project into CBDC
Estonia’s Central Bank also known as Eesti Pank has launched a multi-year research project into central bank digital currencies.
China’s Central Bank Digital Currency DCEP Has Been Processed in Pilot Transactions Worth 1.1 Billion Yuan
In the race to be the first country to launch a functional CBDC, China appears to be in the lead, as it has begun experimenting with its digital currency.
Bank of Canada Says CBDCs Have Inherent Risks in New Study
A new report released by the Bank of Canada has revealed that the bank believes Central Bank Digital Currencies can pose security risks to users
Can CBDC Drive Financial Inclusion?
There are still 1.7 billion unbanked in the world. What are the reasons behind such a significant number of unbanked? Can CBDC drive their financial inclusion?
