Many nations increased their work on central bank digital currency (CBDC) in the middle of 2022’s brutal bear market. Now, it seems that Japan is also heading on a similar path. It was recently announced that the Japan CBDC, or digital yen pilot programme, is scheduled to launch in April.
Although it has only been a few months since India joined the CBDC race. The government has no plans to accelerate its central bank digital currency (CBDC) trial. On February 8th, as per reports, the country’s new CBDC trial has already attracted 50,000 customers. And 5,000 merchants since the Reserve
United Kingdom intends to launch a central bank digital currency (CBDC) as they issued a consultation paper outlining the proposed digital pound known as “Britcoin”. On February 7, 2023, the Bank of England (BoE) and the UK Treasury jointly released the 116-page consultation paper. That explains various aspects of the
The new head of the BIS Innovation Hub Cecilia Skingsley remarked on Monday that central bank digital currency (CBDC) would never have complete interconnectivity owing to cross-border limits. Despite the instability in the crypto business last year, such as the bankruptcy of the FTX crypto exchange. Skingsley notes the rebound
Over the Lunar New Year period, the Chinese Central Bank distributed CBDC worth millions of dollars around the nation. Around 200 events for the e-CNY were introduced around the nation during the holiday season. This is according to a report in the Global Times which is an English-language arm of
Montenegro’s Prime Minister Dritran Abazonic has stated that the country’s central bank would be working with Ripple to create a central bank digital currency (CBDC). While in Davos, Switzerland for the World Economic Forum, the country’s Prime Minister allegedly met with Ripple CEO Brad Garlinghouse and Vice President James Wallis.
The CBDC Experiment was announced by the Central Bank of Saudi Arabia in a press statement published today. The central bank plans to continue its experiments with a possible CBDC deployment, according to the statement. The statement reaffirms the country’s commitment to explore the CBDC from a wholesale perspective. In
Stablecoins and CBDCs, issued by central banks, have captured the interest of governments throughout the world. Evidence for this comes from the fact that several nations are embracing CBDCs and launching pilot programmes to fully integrate them into daily life. Recent events include the introduction of a CBDC pilot programme
The Tanzanian central bank is still thinking about introducing a central bank digital currency (CBDC), but they claim they would do it in a “phased, cautious, and risk-based approach” due to the many potential obstacles in the way. The Central Bank stated: “Analysis of these findings indicate that majority of
As of December 29th, 2021, the Mexican government has declared through social media that they will be creating their own digital peso, to be released in 2024. Recent reports from Banxico, Mexico’s central bank, suggest that this schedule is becoming unrealistic. Reports from the ground indicate that the general directorate
