CBDC
NYFed and MAS To Bring Cross-border Payments via Wholesale CBDCs
NY Fed and MAS’s Project Cedar x Ubin+ explore wholesale central bank digital currencies (wCBDCs). Project Cedar Phase II x Ubin+ will offer insight into the functionality of a multi-currency...
David Chaum Introduces CBDC Technology that Protects Privacy
David Chaum introduced CBDC technology to enhance privacy. CBDC may take over as the industry standard for crypto transactions. The CBDC can prevent tracking down the unlawful currency. David Chaum,...
Korean Apex Bank Completes Two Testing Stages for its CBDC
Korean central bank tested a program that facilitates cross-border payment via CBDC. It also confirmed that offline CBDC translation was possible. Previously, India released a report for establishing retail and...
Hong Kong’s Crypto Industry Draws In Mainland China Businesses
Crypto businesses in Mainland China are considering moving to Hong Kong. Hong Kong regulators are implementing measures to promote cryptocurrency use. Regulators in Hong Kong are looking to draw in...
Zimbabwe Learns Lesson From Nigeria’s eNaira for Its CBDC Plans
As per the Deputy Governor, Zimbabwe is preparing to introduce a digital currency. Matshe called eNaira’s slow adoption a learning point for Zimbabwe. Zimbabwe sent teams to visit central banks...
Reserve Bank of India Launches Digital Rupee on November 1
Pilot Central-Bank-backed Digital Rupee to be launched by Reserve Bank of India. It will be used to settle secondary market transactions in government securities. Nine banks including the State Bank...
Nigerian Digital Currency Approaches Nation’s Taxi Operators
Nigeria’s Central Bank reaches out to taxi operators for the adoption of digital currency. Regulators scrutinize Nigerian digital currency eNaira. Those using e-Naira get a 5% discount for motorized rickshaw...
US Central Bank Governor Skeptical of CBDC, “Not a Big Fan” of It
The US central bank head opposes digital currency issuance. He dismissed the idea as a ‘mere checking account at the Fed. Previously, India released a report for establishing retail and...
New UK Prime Minister Rishi Sunak Encourages CBDCs
The United Kingdom’s new Prime Minister pushes for CBDC support in the country. Rishi Sunak’s statement was shared by Bitcoin Magazine on Twitter. The PM has been vocal about supporting...
JCB Launches JCBDC Project in Collab With Idemia and Soft Space
JCB, in collab with Idemia and Soft Space, launches the JCBDC pilot project. Managing Director of Idemia believes CBDC will redefine the basics of payment systems Senior executive officer of...
China Proposes Asia-Wide Digital Currency To Ease Dependence on USD
Chinese researchers have floated the idea of the Asian Yuan to loosen reliance on the US dollar. The Asian Yuan is an Asia-wide digital currency based on distributed ledger technology....
The Reserve Bank of India States Features of CBDC in Concept Note
The Reserve Bank of India proposes its own CBDC concept The Indian CBDC aims to be a legal tender that exchanges at a one-to-one ratio with the Indian Rupee. Notably,...
Indian Central Bank is Launching Retail and Wholesale CBDC
Reserve Bank of India released a 50-page concept note for CBDC launching. The country will establish a retail and wholesale CBDC to simplify transactions. The Indian crypto community does not...
SWIFT Lays Down Foundation for Global CBDC Network
SWIFT announces plans for a global Central Bank Digital Currency The trial included big names like HSBC, Standard Chartered, and UBS. The project evaluated whether CBDCs could be used globally...
Central Banks Team Up With BIS for “Icebreaker” Pilot-Project
Central banks collaborate with the BIS for project Icebreaker. Head of BIS says these learnings will be invaluable to banks trying to implement CBDC for cross-border payments. The architecture will...
BIS Announces Successful Completion of CBDC Testing Phase
The BIS announced the successful completion of its CBDC pilot stage. The testing program took about a month to complete and facilitated over $22m in cross-border transactions. Advisor and Solution...
U.S. Should Reject CBDC, Argues Bitcoin Policy Institute
BIP releases a report stating why the U.S should not adopt CBDC. “As the world goes the way of China in the 21st century, the U.S .should stand for something...
People’s Bank of China Urges Widening the Use of Digital Yuan
The PBOC has called on to widen the use of the digital yuan. e-CNY can simplify cross-border transactions for foreigners. The government is running a series of initiatives called ‘red...
