Search Results for: cbdc

Ground-Breaking SWIFT Innovation Paves Way for Global Use of CBDCs and Tokenised Assets

Breakthrough solves major challenge in digital ecosystem development Shows how digital currencies and assets could be used at scale across borders by leveraging existing financial infrastructure 14 central and commercial banks already testing new CBDC solution BRUSSELS–(BUSINESS WIRE)–SWIFT has successfully shown that Central Bank Digital Currencies (CBDCs) and tokenised assets

October 5, 2022 5 mins read

Hong Kong to Launch Central Bank Digital Currency (CBDC)

U.S Senator Opposes CBDC Introduces ‘No Digital Dollar Act’

Powell indicated this week that it would be at least two years for CBDC. The Senator spoke in favor of hard currency. Many governments across the globe are turning towards CBDC, otherwise known as Digital currency. On Thursday, a Republican senator from Oklahoma, James Lankford, announced that he introduced legislation

October 2, 2022 1 min read

ECB President Christine Lagarde Backs CBDC Over Crypto

She discussed the crypto ecosystem, stressing the need of backing CBDCs. Central bankers are missing a chance if they do not accept CBDCs. Central bankers are becoming jittery as the use cases for cryptocurrencies and other blockchain-based currencies expand. Digital assets are very volatile and risky, yet traditional institutional investors

September 27, 2022 1 min read

Former Ripple Executive to Head Australian CBDC Trial

A white paper titled “Australian CBDC Pilot for Digital Finance Innovation” was published. On December 31st, at least 12 use cases will be chosen for further investigation. On Monday, the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC) unveiled the pilot project’s (eAUD) white paper for

September 26, 2022 2 mins read

Iran Commences CBDC Pilot Dubbed ‘Crypto Rial’

The digital money issued by the Central Bank of Iran is termed “crypto rial”. Officials have also begun issuing crypto mining licenses. On Wednesday, the CBI of Iran declared that on Thursday, “the pilot launch of crypto rial” will commence, as reported by the Iranian Chamber of Commerce, Industries, Mines,

September 24, 2022 2 mins read

Ripple Becomes First Platinum Partner at CBDC Symposium in London

Ripple’s CBDC Advisor Hints New Updates in Next Few Weeks

Welfare replied to a tweet from a prominent member of the XRP community. Certainly in the next few weeks is a rather vague timescale. According to Ripple’s Antony Welfare, additional CDBC will be announced in the coming weeks. At Ripple, Welfare is in charge of advising on matters related to

September 7, 2022 2 mins read

RBI to Trial CBDC With the Participation of Public-Sector Banks

RBI asked four government-owned banks to participate in the CBDC trial. Recently, the RBI declared that the CBDC will launch in 3 stages. Ahead of the launch of the central bank digital currency (CBDC), India’s central bank, the Reserve Bank of India (RBI), has reportedly requested four government-owned banks to

September 7, 2022 2 mins read

Myanmar Government Making Efforts to Issue CBDC Soon

Federal Reserve Bank of New York has frozen funds since February 2021. The funds are essential for the country’s “revolutionary efforts” as per Minister. The government of Myanmar, which was overthrown in a coup in 2021, announced its intention to issue digital money half a year later, utilizing monies that

September 6, 2022 2 mins read

The Bank of Thailand to Launch Retail CBDC This Year End

Only a small number of people will be chosen to participate in the assessment. CBDC retail is the digital form of money or currency distributed by the Central bank. If everything goes according to plan, Thailand’s central bank, the Bank of Thailand (BOT) will begin testing central bank digital currency

August 6, 2022 2 mins read

ECB Top Officials Back Europe’s CBDC Initiative Over Cryptocurrencies

The existing model’s stability is based on using public money as an anchor. Non-European businesses might gain a monopoly on the European payments market. Central bank money is essential for financial stability as digital payments continue to grow. According to European Central Bank (ECB) President Christine Lagarde and Executive Board

July 17, 2022 2 mins read