CBDC

Societe Generale Revolutionizes the Repo Market with Bank of France Collaboration

Societe Generale has accomplished its first collateralized market transaction executed in collaboration with the Bank of France. It has employed the technological capabilities of Societe Generale’s blockchain subsidiary, SG-Forge. Moreover, this transaction is the first-ever repo operation in digital securities involving a central bank of the Eurosystem. This demonstrates the

December 13, 2024 2 mins read

Brazil’s CBDC Pilot Enters Phase 2, Leveraging Blockchain and Oracles

To enhance supply chain procedures and cross-border agricultural commodity transactions, the second phase of the Drex central bank digital currency (CBDC) pilot was established by Brazil’s central bank, Banco Central do Brasil (BCB). Moreover, in the second stage, it will employ blockchain and oracles to create a trade financing solution.

November 19, 2024 2 mins read

Norway’s Central Bank to Conclude CBDC Discussions by 2025

The central bank of Norway, Norges Bank, is on potential research to launch central bank digital currency (CBDC). The decision is to be finalized by 2025, as stated by Deputy Central Bank Governor, Pal Longva. The nation is in the pilot phase of CBDC exploration and Norway is among 134

October 23, 2024 1 min read

Indian Government Debates a Crypto Ban to Emphasize CBDC

The cryptocurrency sector faces regulatory discrimination on a daily basis and combating them isn’t a novelty. However, certain huge shifts may take us by surprise at first sight. For instance, in July, the US SEC’s approval of the spot ETH ETFs was entirely unexpected until a week before the approval.

October 23, 2024 2 mins read

Outgoing RBI Governor Advocates CBDC as India's Digital Payment Future

RBI Governor of India Shaktikanta Das Backs CBDC

Shaktikanta Das, governor of India’s Reserve Bank (RBI), has emphasized the potential usefulness of the country’s digital rupee and restated his support for Central Bank Digital Currency (CBDC). Further, he reiterated his prior position on digital assets by praising the innovation and suggesting it may be used to circumvent certain

October 14, 2024 2 mins read

Brazil Advances Drex CBDC Pilot with DeFi Innovations

Brazil’s Central Bank (Banco Central do Brasil) is advancing its Drex central bank digital currency (CBDC) project by integrating decentralized finance (DeFi) elements. Currently, the initiative is in its second pilot phase. It aims to enhance financial inclusion and improve transaction efficiency within Brazil’s evolving digital economy. The pilot program

October 4, 2024 2 mins read

Latest Report Reveals 7.51% of Global Population Now Uses Crypto

Deutsche Bank Poll Reveals Widespread Public Skepticism Toward CBDCs

Although several central banks worldwide are considering the possibility of introducing a Central Bank Digital Currency (CBDC). A recent poll found that most customers are not keen on utilizing such products. Therefore cash will likely remain in circulation for the foreseeable future. Around 4,850 people from the US, UK, and

September 22, 2024 2 mins read

BitGo Eyes Retail Crypto Market After Years of Institutional Success

IMF Releases Guidelines for Boosting CBDC Adoption with REDI Framework

Policymakers and financial institutions may find guidance on how to boost the use of central bank digital currencies (CBDCs) in a new guide issued by the International Monetary Fund (IMF). September 21 saw the release of a report titled “Central Bank Digital Currency Adoption Inclusive Strategies for Intermediaries and Users”

September 22, 2024 2 mins read

Bank of Canada Slows Down Retail CBDC Development Amid Focus Shift

Updates on the Bank of Canada’s (BOC) website indicate that the central bank is halting development of CBDC for retail use. Although a wholesale CBDC was not mentioned in the statement, it was stressed that research was ongoing. Since the Bank of Canada has already spent a lot of time

September 21, 2024 2 mins read

What Is the Future of Central Bank Digital Currencies (CBDC)?

In today’s digital era, money is evolving fast. From cash transactions to online payments, the way we handle money has drastically changed. As physical cash becomes less common, especially during the COVID-19 pandemic due to hygiene concerns and cash shortages, more people are turning to digital transactions. Since then, banks

September 14, 2024 9 mins read