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Bank of Russia States Digital Ruble Pilot Will Continue Until the End of 2024

[Dec 11, 2023 3:30 AM] The Bank of Russia has offered an update on the future of the digital ruble pilot, the Russian central bank digital currency (CBDC). The bank’s press service clarified that the pilot will continue throughout 2024 and until the massification…

Palau’s Ripple-supported stablecoin pilot achieves positive results

[Dec 8, 2023 3:20 PM] The U.S. dollar-pegged Palau Stablecoin was used by 168 volunteers for $100 of retail purchases in three months.

Taiwan central bank completes wholesale CBDC study, plans next steps

[Dec 8, 2023 12:45 PM] A central bank official spoke about ongoing CBDC research and other payment modernization Taiwan is exploring.

Brazil to Discuss Digital Currency Usage for Financial Transactions in G20

[Dec 7, 2023 5:30 PM] Brazil will address the subject of digital currencies and how they can improve the financial system for the Group of Twenty (G20). Roberto Campos Neto, president of the Central Bank of Brazil, stated he wants the G20 to consider the benefits of…

Italy and South Korea central banks agree on CBDC cooperation

[Dec 5, 2023 7:43 AM] The central banks of Italy and South Korea announced a memorandum of understanding in the development and deployment of their respective CBDCs.

UK House of Commons recommends further CBDC tests on viability, risks

[Dec 4, 2023 1:28 AM] The U.K. Parliamentary Committee fears that an official launch will demand a significant investment, adding that “It is not clear to us at this stage whether the benefits are likely to outweigh these risks.”

UK Legislators urge caution in retail digital pound rollout

[Dec 2, 2023 4:48 AM] The committee’s report recommends imposing lower initial limits on the value of retail digital pounds to alleviate the risk of potential bank runs amid market instability.

Solomon Islands, Soramitsu team up for Bokolo Cash CBDC proof-of-concept

[Nov 30, 2023 12:36 PM] The Solomons join tiny island nations worldwide at the forefront of CBDC development. Soc A new CBDC joins the very large crowd.

Digital Canadian dollar fails to impress despite high awareness

[Nov 30, 2023 1:40 AM] People who were aware of CBDCs were more reluctant to adopt the technology when compared with those who didn’t know about it.

BIS advises central banks to plan in advance for CBDC security

[Nov 29, 2023 12:30 PM] From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider.

BIS Innovation Hub presents its ‘private CBDC’ project

[Nov 29, 2023 5:59 AM] The Bank for International Settlement’s Project Tourbillon features two eCash prototypes, the first providing “unconditional payer anonymity” and the second being “more resilient” in security terms.

Central Bank Project Shows CBDC Payments Can Be Private

[Nov 29, 2023 3:29 AM] The project is a first step in exploring privacy, security and scalability for central bank digital currency design, a report on the BIS initiative said.

Standard Chartered Bank Begins Offering Digital Yuan Exchange Services in China

[Nov 28, 2023 11:00 PM] Standard Chartered Bank (China) has become one of the first foreign banks to participate in China’s central bank digital currency (CBDC) pilot. The bank explained that as an international bank rooted in the Chinese market for 165 years…

Fiery Public Hearing on Digital Euro Sees Experts Diverge on Key Issues

[Nov 28, 2023 12:46 PM] Expert witnesses answered lawmaker questions on holding limits, impact on banking systems and privacy for an EU central bank digital currency.

Central Banks Have No Interest in Personal Data, BIS Official Says While Promoting CBDCs

[Nov 28, 2023 10:15 AM] The Bank for International Settlements has been calling on countries to prepare for CBDCs as governments face backlash over privacy concerns.

Digital Euro Can End Bank Crises, Is Better Than Deposits, Ex-Bank of Spain Chief Says

[Nov 28, 2023 9:27 AM] A central bank digital currency (CBDC) could also be used to deregulate banking activities and help the banking sector grow, Miguel Fernández Ordóñez said during a European Parliament hearing on a digital euro.

More foreign banks join China’s CBDC pilot trials

[Nov 28, 2023 9:11 AM] A total of four foreign banks have integrated China’s e-CNY CBDC thus far.

Standard Chartered joins China's CBDC pilot testing

[Nov 27, 2023 9:13 AM] The British bank will provide e-CNY CBDC services to clients and explore its future use in China's financial system.

Standard Chartered China Offering Exchange Services for Digital Yuan

[Nov 27, 2023 9:09 AM]

Eurasian Economic Union Minister: CBDCs Will Pave the Way for the Launch of a Digital Reserve Currency

[Nov 27, 2023 3:30 AM] Sergei Glazyev, minister of integration and macroeconomics of the Eurasian Economic Union (EEU), has noted the advancements the adoption of central bank digital currencies (CBDCs) could ostensibly bring to the trading dynamics of the region…

Latam Insights: Milei Wins Runoff Election, Vows to Eliminate Central Bank in Argentina; Drex to Encourage Tokenization

[Nov 27, 2023 12:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Libertarian Javier Milei wins the runoff election in Argentina, reinforcing his intention of eliminating…

BIS General Manager Agustin Carstens Touts Tokenization as Part of the Future Financial System

[Nov 25, 2023 7:30 AM] Agustin Carstens, general manager of the Bank for International Settlements (BIS), has discussed tokenization’s significance in modernizing the current siloed financial system. Carstens stated that only through tokenization can the world move…

South Korea to Pilot CBDC With 100,000 Citizens in 2024: Report

[Nov 23, 2023 4:18 AM] The Bank of Korea sees a CBDC as a potential answer to problems with existing government-issued grant systems, such as during the COVID-19 pandemic or childcare vouchers.

South Korea to invite 100K citizens to test CBDC in 2024

[Nov 23, 2023 3:06 AM] Participants will be restricted to using the CBDC only for payment, without an option to store, exchange or send it to other users.

Digital Euro Isn't Pressing, but Work Should Continue: Spanish Central Bank Governor

[Nov 22, 2023 4:11 AM] Europe's "highly efficient" payment systems leave space to address social and financial concerns of a central bank digital currency, Pablo Hernández de Cos said.

Digital Ruble Pilot to Expand to Execute Budget Expenditures Next Year

[Nov 22, 2023 2:30 AM] Anton Siluanov, the finance minister of Russia, has announced that the Central Bank of Russia will expand the pilot phase of the digital ruble next year to include the execution of still undefined targeted budget expenditures. Digital Ruble to Be…

Singapore Unveils Plan to Ensure Seamless Financial Transactions Across Digital Asset Networks

[Nov 20, 2023 10:30 PM] The Monetary Authority of Singapore’s managing director has outlined the central bank’s plan to ensure seamless financial transactions across digital asset networks. “Currently, there is a proliferation of digital asset networks,”…

Cambodian digital currency bakong amps up use case with Alipay agreement

[Nov 20, 2023 3:47 PM] The CBDC-like bakong provides digital payment services in riel and the U.S. dollar. It has been steadily extending its regional scope.

Ripple’s James Wallis underscores CBDCs’ role in breaking financial barriers

[Nov 19, 2023 2:25 AM] Wallis clarifies that financial inclusion aims to extend financial services to individuals worldwide, especially those with low incomes and no ties to financial institutions.

People’s Bank of China Tests Digital Yuan Payment Integration in Hong Kong

[Nov 18, 2023 2:30 AM] The People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) are in the second phase of the integration tests of the digital yuan for payments and cross-border transactions in Hong Kong. This new phase includes more banks and…