Tue, October 3

Digital Yuan Wallets Now Accept Visa and Mastercard for Tourist

As China updates the smartphone app powering its CBDC trial, visitors to the People’s Republic of China may now preload their digital yuan wallets using Visa and Mastercard payment methods. The e-CNY app, currently under beta testing, may be downloaded from the Apple App Store or the Google Play Store

September 26, 2023 1 min read

U.S House Committee Passes CBDC Development Restriction Bill

A measure to prevent efforts to establish a CBDC in the United States has been approved by a House committee. Concerns about impeding development and U.S. competitiveness in the international financial sector were at the forefront of the arguments that the contentious decision sparked on Capitol Hill. The committee, which

September 21, 2023 2 mins read

Swift Takes Strides in CBDC Interoperability

Swift, a global member-owned cooperative renowned for its secure financial messaging services, is making significant strides in its quest for Central Bank Digital Currency (CBDC) interoperability. In a notable development, Swift revealed on September 13 that three central banks are currently beta-testing its innovative CBDC connector solution. Simultaneously, 30 financial

September 14, 2023 2 mins read

Hong Kong Monetary Authority Forges Key Partnerships for CBDC Pilot

In an effort to test the viability of a CBDC, the Hong Kong Monetary Authority (HKMA), the Bank for International Settlements (BIS) Hong Kong Centre, and the Bank of Israel (BOI), have collaborated. Project Sela is an effort to build a robust, decentralized, reliable CBDC (rCBDC) ecosystem that puts privacy

September 13, 2023 1 min read

Yes Bank Boosts Digital Rupee Usage in India With UPI Integration

Yes Bank recently stated that the Reserve Bank of India’s (RBI), the digital rupee, will have improved usage. This will be made possible by the bank’s integration of digital rupee with UPI. Customers of Yes Bank may now use their smartphones to pay for goods and services using the digital

September 2, 2023 1 min read

Jio Financial Services Banks on Blockchain and CBDC

Jio Financial Services (JFS), a subsidiary of Reliance Industries Ltd, is taking a technologically-driven approach in expanding its product offerings by exploring blockchain-based platforms and CBDC.  Mukesh Ambani, Chairman and MD of RIL, highlighted JFS’s strategic orientation during the company’s annual general meeting. Ambani said JFS wants to become a

August 28, 2023 2 mins read

Australia CBDC Far Away, Will Take Years, But Why?

Australia’s central bank has completed the pilot of the Central Bank Digital Currency (CBDC), researching the use cases for a potential digital dollar. The report revealed that Australia would not make any decisions on CBDCs for some years due to some unresolved issues that came up at the end of

August 23, 2023 2 mins read

CBDCs Are Threat to Liberty Says U.S. Presidential Candidate

The crypto market has experienced massive growth and significant development over the last few years. Recently, cryptocurrencies have taken over the headlines as U.S. presidential candidates have continuously shown their interest in them. Several candidates have made strong statements against CBDCs. Adding to that, presidential candidate Vivek Ramasamy stated that

August 9, 2023 2 mins read

Brazil’s Central Bank Unveils CBDC ‘DREX’: Know More

On Monday, Brazil’s central bank unveiled its imminent central bank digital currency (CBDC), named “DREX,” which is set to launch next year. The purpose behind this initiative is to enhance the country’s financial services through the utilization of this digital currency. The central bank of Brazil revealed the new CBDC

August 8, 2023 1 min read

Bank of Russia Unveils Digital Ruble Logo and Transaction Fees

The Bank of Russia (BoR) has unveiled the official logo for the CBDC initiative it has been developing in Russia. Commission fee rates have also been released by the central bank, and they are expected to rise above zero in 2025. The Bank of Russia (BoR) unveiled the official identity

August 5, 2023 2 mins read