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
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
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
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
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
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
The legislation governing the digital ruble has been approved and will go into effect on August 1, 2023, with the exception of one restriction. Article 3 is scheduled to go into effect in Russia in August 2024. Moreover, it amends various federal laws, notably those pertaining to bankruptcy and inheritance.
Warren Davidson, a Republican Rep in the United States, has spoken out against CBDC, calling on Congress to outlaw them and declare their development illegal. Rep. Davidson tweeted on July 23 that the Federal Reserve was “building the financial equivalent of the Death Star” because of CBDCs, which he said
The governor of China’s central bank has said that, in the 1.5 years since the launch of the digital yuan pilot program, about $250 billion has been transacted using the digital currency. At a conference in Singapore on July 19, People’s Bank of China (PBoC) governor Yi Gang said that
Florida Governor Ron DeSantis has made a strong statement ahead of the 2024 elections. United States presidential candidate Ron DeSantis has pledged to ban central bank digital currencies (CBDC) on day one if he emerges victorious in the 2024 elections. It sparks discussions about the future of money, technological advancements,
