Search Results for: cbdc

Quant Technology Used in Bank of England’s CBDC Project Now Available to Any Business

LONDON–(BUSINESS WIRE)–Quant, the blockchain for finance pioneer, today unveiled Overledger Platform: the infrastructure used in Project Rosalind – the Bank of England and Bank for International Settlements’ retail CBDC project – available to all via software-as-a-service. Overledger Platform makes the same enterprise-grade technology, the same interoperability core, the same secure

June 27, 2023 3 mins read

Crypto Exchange Mercado Bitcoin Now Part of Brazil’s CBDC Pilot

Two major Brazilian institutions have been given permission by Brazil’s central bank to take part in the pilot of the digital real, the country’s central bank digital currency (CBDC). Consortium members, including the major local bitcoin exchange Mercado Bitcoin and the state-owned bank Caixa, have been granted permission to begin

June 24, 2023 2 mins read

Russian President Vladimir Putin Approves Digital Ruble Bill

IMF Reportedly Working on Global CBDC Platform to Boost Interoperability

The IMF is stepping up its support for Central Bank Digital Currencies (CBDCs) being developed by countries throughout the globe. According to Reuters, the IMF is working on a worldwide platform to improve CBDC interoperability. IMF Managing Director Kristalina Georgieva said on Monday that the platform will facilitate transactions between

June 19, 2023 2 mins read

Bank of England Inches Closer to Launch CBDC Soon

After a year-long examination, the Bank of England (BOE) has come to the conclusion that blockchain technology might enable a “diverse range” of new monetary applications, bringing the BOE one step closer to introducing its own digital currency. The BOE and the Bank for International Settlements (BIS) collaborated on a

June 16, 2023 2 mins read

Ripple Partners With Columbian Central Bank Over CBDC Adoption

The Colombian Central Bank, Banco de la Republica, and the blockchain payments startup Ripple Labs Inc have signed a strategic cooperation agreement to research the potential applications of blockchain technology in the realm of Central Bank Digital Currency (CBDC). Peersyst Technology, a specialist blockchain technology startup, and the Ministry of

June 15, 2023 2 mins read

Thailand All Set To Start Pilot Project of CBDC for Retail Transactions

This month, under a regulatory sandbox, the Bank of Thailand will start a pilot project to test a central bank digital currency (CBDC) for use in retail transactions. Local media have reported that three payment processors would take part. Up to 10,000 participants will be a part of this August-long

June 13, 2023 2 mins read

Hong Kong Moves Closer to Launch CBDC for Retail Transactions

The Hong Kong Monetary Authority (HKMA) said on Friday (June 9) that it would begin building a central bank digital currency (CBDC) for use in retail transactions in the coming months. The Hong Kong Monetary Authority (HKMA) has reportedly been studying the feasibility of creating a digital Hong Kong dollar

June 9, 2023 2 mins read

Ex-SEC Chief John Reed Stark's Alarm Call: Get Out of Crypto Now

UK Crypto Group Urges Government To Assess Risks of CBDC

Despite the potential advantages connected with central bank digital currencies (CBDCs), the UK government should carefully assess and endeavor to minimize any risks linked with the establishment and possible adoption of the so-called digital pound. This is especially important “in relation to financial stability, privacy, and security risks,” according to

June 6, 2023 1 min read

Florida Governor Signs CBDC Bill, Legal Expert Highlights Limitations

In a recent development, Florida Governor Ron DeSantis signed a bill purportedly aimed at prohibiting Central Bank Digital Currencies (CBDCs) in the state. However, legal expert Professor Carla Reyes argues that the bill does not effectively prohibit the use of CBDCs in Florida. This discrepancy has sparked a debate surrounding

May 20, 2023 2 mins read

Ripple Launches CBDC Platform for the Development of CBDCs and Stablecoins

Full-service platform allows user to seamlessly mint, manage, transact and redeem CBDCs and stablecoins SAN FRANCISCO–(BUSINESS WIRE)–With more than 90% of countries exploring, developing and implementing Central Bank Digital Currencies (CBDCs) as a way to increase financial inclusion and lower the cost and risk of domestic and cross-border payment processes,

May 18, 2023 4 mins read