egypt central bank
National Bank of Egypt Delves into Blockchain-Powered Inward Remittances with Ripple Partnership
Egypt’s biggest and oldest bank, the National Bank of Egypt, seeks to revamp its inward remittances with blockchain technology. As a result, the bank has entered a partnership with Ripple to use its blockchain-powered payments network RippleNet to offer cost-friendly and quicker cross-border payments.
Is Cryptocurrency the Answer? Egypt’s Central Bank Limits Daily Cash Withdrawals Amid Coronavirus Crisis
Egypt is facing a severe cash crunch as the country is feeling the economic pressure of the coronavirus outbreak. The central bank of Egypt has instructed local banks to begin restricting daily withdrawals and has instructed citizens not to withdraw so much money.
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.
South Korea’s Central Bank Launches Central Bank Digital Currency Pilot Program in Case of Future Necessity
South Korea’s central bank recently announced that it has launched a pilot program assessing the issuance of a central bank digital currency (CBDC). The Bank of Korea has stated that there are no immediate plans to launch a CBDC, however, the pilot program will allow the central bank to be prepared in the future if the changing market conditions require its issuance.
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.
Six Central Banks Form Working Group to Assess Central Bank Digital Currencies
Six central banks around the world have come together to create a working group to share experiences on use cases on central bank digital currency (CBDC). With significant expertise in exploring digital currencies, these six central banks are the Bank of Canada, Bank of England, Bank of Japan, European Central bank, Sveriges Riksbank in Sweden, and the Swiss National Bank, and the Bank of International Settlements (BIS).
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).
Bank for International Settlements Reveals Findings on Central Bank Digital Currencies
The Bank for International Settlements released its analysis report in which it evaluated central bank digital currencies globally.
China’s Central Bank Takes A Step Forward to Regulate Blockchain
China’s central bank, the People’s Bank of China is set to create industry standards across the financial technologies sector, including blockchain.
Rwanda’s Central Bank is Planning to Issue Its Own Digital Currency
Rwanda’s Central Bank, the National Bank of Rwanda is researching ways to issue its own digital currency.
Oman Central Bank Issues Warning Against Crypto Trading, Specifically Dagcoin
The Central Bank of Oman has warned citizens that cryptocurrencies come with a high risk and specifically highlighted the risks as they pertain to Dagcoin.
Bank of Thailand Tests its Central Bank Digital Currency with Large Businesses Before Official Debut
The Bank of Thailand (BoT), Thai’s central bank, is already utilizing its central bank digital currency (CBDC) for financial transactions with various big businesses. This development ushers in the third development phase of the nation’s CBDC before a public debut.
Singapore Consults China on Central Bank Digital Currency
Singapore is considering a partnership with China as it works on developing a Central Bank Digital Currency dubbed Project Ubin