Thu, November 21

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

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

Nigeria Adopts National Blockchain Policy for Digital Revolution

Nigeria’s digital revolution took a bold step forward on Wednesday, May 3rd, as Prof. Ibrahim Pantami, Minister of Communications and digital economy, spearheaded the adoption of blockchain technology on a national level.  BREAKING: The Federal Executive Council today approved @FMoCDENigeria’s National Policy on Blockchain. What this means is that @NigeriaGov

May 4, 2023 2 mins read

Ripple Teams up With Montenegro To Develop Digital Currency

The Central Bank of Montenegro (CBCG) has agreed to work with cryptocurrency and blockchain solutions provider Ripple to create a plan and pilot project to introduce the nation’s first digital currency in the form of a Central Bank Digital Currency (CBDC) or national stablecoin. Montenegrin Prime Minister Dritan Abazovic first

April 11, 2023 1 min read

Nigeria Restricted ATM Withdrawals to Promote CBDC Adoption

Nigeria has significantly reduced the daily cap on cash withdrawals from ATMs to encourage the usage of ‘eNaira,’ the Central Bank of Nigeria’s digital currency (CBDC). Individuals and organizations, who violate the government-imposed restrictions will be penalized between 5% and 10%. To enhance digital currency circulation the central bank restriction

December 7, 2022 1 min read

Indonesia Central Bank All-Set to Launch Digital Rupiah

Indonesia’s Central Bank on Wednesday revealed a planned white paper for a digital rupiah currency that will utilize blockchain technology as the country experiences a spike in digital transactions since 2020. Its been a year since Bank Indonesia (BI) tried to expose the potential of introducing its own digital currency

December 1, 2022 1 min read

Macau Debating Over a Bill to Render Digital Currency

Macau’s Executive Council proposed a bill that would have the intention to accept CBDC as a legal Tender. The government has not set a date or defined which digital currencies will accept. The Chinese special administrative region of Macau, which has a thriving gambling industry. It has declared its intention

October 18, 2022 1 min read

Norway’s Central Bank Innovates in Developing Its Digital Currency on Ethereum

As per the official statement from the Norges Bank, the prototype infrastructure for the country’s central bank digital currency will be introduced on Ethereum. The bank introduces a new open source sandbox code on ETH technology to support interesting features.  In addition, the sandbox for the CBDC is now accessible

September 14, 2022 2 mins read

ECB’s Executive Board Emphasizes Need For Planned Digital Euro Launch

It is conceivable to prevent the digital euro from being used as an investment option. Panetta said it would take years until the majority of Europeans own the digital euro. Member of the European Central Bank‘s Executive Board Fabio Panetta cautioned that a digital euro might convert a considerable percentage

June 18, 2022 2 mins read