5 / 24 Relevant items tagged with #CBDC

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Hong Kong digital yuan pilot lacks P2P capabilities

[May 17 4:09 AM] While Hong Kong residents can sign up for a digital yuan wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong.

Mastercard, Standard Chartered test tokenized deposit transaction

[May 15 1:57 PM] Mastercard’s Multi-Token Network enabled an atomic swap of a tokenized carbon credit for cash in a bank account.

China's Digital Yuan Isn't Taking Off Despite State Employee Salary Trial: Report

[May 13 9:22 AM] Most of the early recipients immediately transfer the digital yuan balances to their bank accounts to spend as cash.

Analyst Forecasts BTC to Reach $1 Million in 10 Years, Envisions It as Future Reserve Currency

[May 13 3:39 AM] Onchain bitcoin analyst Willy Woo predicts that the leading cryptocurrency will reach the $1 million milestone within the next decade. During what he describes as “a time to be alive,” Woo anticipates witnessing a purge of central…

Chinese workers paid in CBDC are cashing it out for real money: Report

[May 12 11:47 PM] Some participants of China’s CBDC pilot program are reportedly hesitant to hold onto the digital yuan, citing a range of concerns with using the state-backed digital currency.

‘Open-source’ CBDCs aren’t going to protect you from government

[May 10 4:59 PM] Opinion: From Brazil to Norway, there is plenty of evidence that governments are planning to use CBDCs to abuse their people.

Bank of Thailand Tests Potential of a Retail CBDC, the Digital Baht

[May 9 3:40 AM] The Bank of Thailand (BOT) has released a report on its Retail Central Bank Digital Currency (CBDC) pilot project, conducted using Giesecke+Devrient’s (G+D) technology solution. The project tested the digital version of the Baht and its potential…

Rwandan Research Paper Recommends CBDC With ‘Partial Pseudo-Anonymity’

[May 8 9:17 PM] A recent research paper from the National Bank of Rwanda recommends a two-tier, universal, zero-interest central bank digital currency (CBDC) with partial pseudo-anonymity. Although the research paper identifies 15 opportunities for CBDC, only four…

Rwandan central bank proceeds with ambitious retail CBDC project

[May 8 3:03 PM] The African country is eyeing a tokenized retail CBDC with offline transfer capabilities as it heads toward a cashless economy.

ECB’s Joachim Nagel Urges Central Banks to Evolve: ‘We Need to Work on Our Business Model’

[May 8 2:50 PM] Joachim Nagel, President of the Deutsche Bundesbank and Member of the Governing Council of the European Central Bank (ECB), has raised concerns about central banks’ business model. “If part of your core product is loosening…

India Working on Offline Transferability of Digital Rupee, Says Central Bank Governor

[May 7 7:46 PM] India’s central bank, the Reserve Bank of India (RBI), is in the process of making its central bank digital currency (CBDC) available without relying on internet access. RBI Governor Shaktikanta Das has emphasized the importance of ensuring…

Hong Kong central bank forms community to explore assets tokenization

[May 7 7:36 AM] Regulators like HKMA and SFC united with local private sector firms like HSBC and HashKey to support the market of tokenization in Hong Kong.

Central banks must revise business model, embrace CBDCs — ECB member

[May 6 3:10 PM] Bundesbank’s president Joachim Nagel urged central banks to revamp their business models and adopt digital currencies during the BIS Innovation Summit.

Ex-Head of China's Digital Yuan Effort Facing Government Probe: Report

[Apr 26 3:11 AM] Yao Qian is reportedly being investigated for "violations of discipline and law."

Mauritania Central Bank Partners With Giesecke+Devrient to Develop a National CBDC

[Apr 23 3:24 AM] The Central Bank of Mauritania (CBM) has partnered with Giesecke+Devrient (G+D) to develop and launch a digital version of the national currency. The Germany-based security technology firm is expected to assist the CBM in outlining the…

New Zealand Starts Digital Cash Consultation

[Apr 18 3:41 AM] The consultation paper asked New Zealand citizens to respond on the digital cash design, whether or not interest should be paid and if there should be holding limits.

Bank of Russia Supports Cryptocurrency Usage for International Settlements

[Apr 15 11:34 PM] The Bank of Russia has announced that it will support accelerating the adoption of cryptocurrency payments for international settlements. According to Elvira Nabiullina, governor of the Bank of Russia, these crypto-based payments must be launched…

Russian Central Bank Chief: Mass Adoption of Digital Ruble Expected in 5 to 7 Years

[Apr 10 9:43 PM] Elvira Nabiullina, head of the Russian central bank, has stated that the mass launch of the digital ruble will take five to seven years. This appears to contradict recent suggestions by the chairman of the State Duma Committee on the Financial…

Brazilian BV Bank Tests Tokenized Model for Vehicle Sales

[Apr 9 1:38 AM] BV Bank, a Brazilian bank leader in vehicle loans, is running a pilot that uses tokenization to manage vehicle financing and sales operations. The first phase of the tests involves automating consumer-to-consumer vehicle sales processes, including…

SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

[Mar 29 1:21 AM] SWIFT, the network that provides the messaging system for cross-border banking settlements, has announced plans to launch a CBDC equivalent of its current network in the next two years. The organization recently completed a 6-month test to assess…

Russia Discusses Testing Digital Ruble for Budget Payments

[Mar 27 12:00 AM] The Central Bank of Russia and the Russian treasury are considering testing using the Russian CBDC, the digital ruble, to complete budget settlements. The tests would involve using this CBDC to make payments to businesses and citizens and receiving…

Latam Insights: Chile to Keep Advancing CBDC Tests, Argentina Debuts VASP Registry

[Mar 25 1:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: the Central Bank of Chile will keep experimenting with CBDC, Argentina’s VASPs will have to register…

Hong Kong Launches Second Phase of Its CBDC Pilot Program

[Mar 19 3:30 AM] The Hong Kong Monetary Authority announced the launch of the second phase of the pilot of its CBDC, the digital Hong Kong dollar (e-HKD). This new phase will focus on furthering the research on already examined use cases for the currency, including…

Real-World Assets Platform Gluwa Considers Developing Liberia’s CBDC

[Mar 18 10:30 PM] The real-world assets platform, Gluwa, is exploring the potential to assist in the development and launch of Liberia’s central bank digital currency. To increase the likelihood of the digital currency’s success, Gluwa is also considering the launch…

Hong Kong Starts New Phase of CBDC Testing

[Mar 14 5:54 AM] Phase 2 of the e-HKD pilot will be supported by the recently launched regulatory sandbox for testing wholesale CBDCs and tokenization, the Hong Kong Monetary Authority said.

Nigerian Central Bank, Real-World Asset Firm Partner to Revive Struggling CBDC

[Mar 9 3:30 AM] Gluwa, a platform for real-world assets, announced on March 7 its partnership with the Central Bank of Nigeria. The partnership arrangement aims to improve the functionality of the Nigerian central bank’s digital currency and promote financial…

Jerome Powell Clarifies: US Far From Introducing a Central Bank Digital Currency

[Mar 7 8:34 PM] Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a…

Fed Chair Powell Eases CBDC Concerns: US Far From Direct Fed Accounts, Emphasizes Need for Congressional Approval

[Mar 7 3:30 PM] Federal Reserve Chairman Jerome Powell engaged with the Senate Banking Committee, signaling that the U.S. is just beginning to contemplate the introduction of a central bank digital currency (CBDC). Powell Assures No Direct Fed Accounts in CBDC…

U.S. Fed Chair Powell Says 'Nowhere Near' Pursuing CBDC, Won't Spy on Americans

[Mar 7 11:10 AM] Even if the Federal Reserve were close to recommending a central bank digital currency (CBDC) in the U.S., Chair Jerome Powell told lawmakers that the Fed has zero interest in a system in which it would have a view into user data.

Nigeria's Central Bank Enlists Gluwa Nigeria to Boost eNaira Systems, Adoption

[Mar 7 7:19 AM] Adoption of the central bank digital currency pales in comparison to the use of cash in the country.