21 / 24 Relevant items tagged with #CBDC

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Russia to roll out CBDC pilot with real consumers in April

[Feb 17, 2023 7:49 AM] Russia’s central bank is preparing to launch the first consumer pilot for the digital ruble in collaboration with 13 local banks.

The Bank of Japan to launch its CBDC pilot before May

[Feb 17, 2023 3:58 AM] The Bank launched a pilot program for “digital yen” in April after finishing its proof-of-concept testing, which began in 2021.

Oman to establish regulatory framework for virtual assets

[Feb 17, 2023 1:26 AM] Despite the warnings about investing in digital assets by Oman’s central bank, about 65,000 residents hold cryptocurrencies.

Ukraine Speeds Up Digital Hryvnia Project, Plans Pilot for This Year

[Feb 14, 2023 11:00 PM] Ukrainian authorities are speeding up the development of the electronic hryvnia, a high-ranking government official indicated. The executive power in Kyiv is now in talks with the central bank and businesses involved in the project to pilot the…

Brainard reportedly moving from the Fed to head National Economic Council

[Feb 14, 2023 12:30 PM] Fed Vice Chair Lael Brainard became vice chair of the Fed after a partisan fight and has been considered for other top positions.

UK think tank launches a crusade against 'surveillance' CBDCs

[Feb 14, 2023 7:38 AM] The Bank of England's plans for a CBDC launch raises concern among UK Tax Reform Council and the broader Bitcoin community.

UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives

[Feb 14, 2023 1:30 AM] On Feb. 12, 2023, the Central Bank of the United Arab Emirates (CBUAE) announced the launch of a new initiative called the “Financial Infrastructure Transformation Program,” which has nine key objectives. One of these objectives is the…

Digital Rupee Attracts 50,000 Users, India’s Central Bank Says

[Feb 12, 2023 7:30 AM] India’s central bank, the Reserve Bank of India (RBI), has announced that 50,000 users have adopted the nation’s central bank digital currency (CBDC), the digital rupee. In a press conference on Wednesday, RBI’s Deputy Governor Rabi Sankar stated…

As Its Central Bank Limits Cash And Pushes A CBDC, Nigeria Needs Bitcoin

[Feb 11, 2023 7:00 AM] Following an unsuccessful CBDC launch, Nigeria’s central bank is now trying to cut off cash. Bitcoin can help Nigerians find sovereignty.This is an opinion editorial by Heritage Falodun, a Bitcoin consultant and computer scientist based in…

China to launch national blockchain research center

[Feb 10, 2023 4:47 AM] The goal of the new state-supported institution is to speed up the country’s industry through blockchain technology.

Digital Gold Traded for Digital Rubles by Russia’s Rosbank

[Feb 9, 2023 6:30 AM] Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets…

India in ‘no hurry’ for CBDC as digital rupee pilot onboards 50k users

[Feb 8, 2023 8:02 AM] The central bank of India wants to proceed with CBDC testing in the smoothest way possible, deputy governor Rabi Sankar said.

Russia’s Gazprombank recommends slow CBDC rollout fearing loss of income

[Feb 8, 2023 6:00 AM] Gazprombank, a subsidiary of a state-owned energy corporation, which participates in Russia’s CBDC initiative, fears losing a part of its income as the digital ruble replaces traditional fiat currency.

Nouriel ‘Dr. Doom’ Roubini Warns About Demise of US Dollar

[Feb 8, 2023 1:30 AM] Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new…

BIS to launch stablecoin monitoring project and up focus on CBDC experiments

[Feb 7, 2023 10:34 PM] The bank for central banks is expanding its CBDC research while developing a platform to monitor stablecoin balance sheets.

Laotian CBDC proof of concept project to launch using system pioneered in Cambodia

[Feb 7, 2023 2:30 PM] The Laotian central bank and the Soramitsu firm signed an MOU to launch the project to expand financial inclusivity and provide sellers with faster settlement.

UK Government Pursues Digital Pound While Bank CEOs Restrict Bitcoin Access

[Feb 7, 2023 1:52 PM] The UK continues to show its desire for a digital pound, just as its companies try to limit access to Bitcoin.The Bank of England and the UK Treasury have released a consultation paper outlining their case for a retail central bank digital currency…

UK's digital pound would modernize payments but won't replace cash: Minister

[Feb 6, 2023 10:52 PM] Finance minister Jeremy Hunt says the digital pound, or "Britcoin" would be issued and backed by the Bank of England, but won't negate the use of cash.

China doles out millions in digital yuan in bid to boost adoption: Report

[Feb 5, 2023 10:40 PM] Multiple Chinese city governments have given away millions worth of e-CNY to try to promote consumption around the holiday season.

UK is 'likely' to need digital currency, says BoE and Treasury: Report

[Feb 4, 2023 3:16 PM] The digital pound roadmap is reportedly set to be introduced next week, along with a joint public consultation.

Kazakhstan’s digital currency in pilot stage, per Binance, National Bank joint report

[Feb 3, 2023 1:30 PM] The Central Asian country’s CBDC project is right on time, according to a 2020 roadmap, as consumers and merchants use the currency in a controlled environment.

Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say

[Feb 3, 2023 2:00 AM] Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be…

HSBC needs someone to helm its tokenization efforts

[Feb 2, 2023 4:24 AM] According to a job posting, HSBC is looking for a candidate who knows of digital assets, especially asset tokenization and custody.

Montenegro's central bank teams up with Ripple on digital currency pilot project

[Jan 30, 2023 12:30 PM] Montenegro’s prime minister announced a central bank “digital currency or stablecoin” project with Ripple; the Balkan country currently uses the euro instead of a national currency.

JPMorgan CEO Says BTC Is Fraudulent, a ‘Pet Rock;’ Bank of America Says CBDCs Are ‘Natural Evolution’ — Bitcoin.com News Week in Review

[Jan 29, 2023 7:30 AM] JPMorgan CEO Jamie Dimon has reiterated his supposed skepticism of bitcoin, recently calling it a “hyped-up fraud,” and a “pet rock.” For it’s part, Bank of America has said that it views central bank digital…

Saudi Central Bank Says Ongoing CBDC Experiment Focused on Domestic Wholesale Use Cases

[Jan 27, 2023 5:30 AM] Saudi Arabia’s central bank digital currency (CBDC) experiment, which is being carried out in conjunction with local banks and fintechs, is presently focused on domestic wholesale uses cases, the central bank has said. Meanwhile, the Saudi…

UK Bitcoin community reacts to incoming CBDC and digital pound rollout

[Jan 25, 2023 7:15 AM] A new role, "Head of CBDC," will help the United Kingdom to "explore the case for a digital pound," although UK Bitcoiners would argue that might not be necessary.

Saudi Central Bank still researching CBDC, but no decision on deployment

[Jan 24, 2023 10:17 PM] Saudi Arabia's central bank stressed that no decision has been made to launch a CBDC in the Kingdom, but it will continue to research use cases.

UK gov't is hiring a central bank digital currency lead for Treasury team

[Jan 24, 2023 2:00 PM] The team lead will determine the “strategic direction” for Treasury’s efforts to develop a digital pound in line with the U.K. government’s agenda.

Nigerian Banks Still Distributing Old Naira Banknotes as Demonetization Date Approaches

[Jan 23, 2023 5:00 PM] With just a few days left before old Nigerian naira banknotes are removed from circulation, some banks have accused the Central Bank of Nigeria of failing to distribute enough new banknotes. Despite growing pressure for it to extend the period for…