Search Results for: central bank digital currencies

June 19, 2024 @ 8:37 pm By Omar Faridi  |  

Central bank digital currencies or CBDCs can boost Middle East’s financial inclusion, payment efficiency, according to a comprehensive update from the IMF. 19 countries in the Middle East and Central Asia are exploring issuing a CBDC, the IMF update noted. Almost two-thirds of countries in… Read More

February 12, 2024 @ 6:08 pm By Omar Faridi  |  

India is reportedly moving forward with the next few stages of its planned digital rupee pilot. This would add programmability and offline payment capability, according to a recent update. Like most major economies across the globe, India has been testing a retail CBDC or central… Read More

December 3, 2023 @ 3:00 pm By Michael Wong  |  

U.S. Republican presidential candidate Vivek Ramaswamy has voiced strong opposition to Central Bank Digital Currencies (CBDCs), emphasizing the risks they pose to individual freedoms and privacy. In a recent social media post, Ramaswamy firmly rejected the idea of CBDCs, suggesting they pave the way for… Read More

May 21, 2023 @ 10:28 am By Omar Faridi  |  

With more than 90% of countries exploring, developing and implementing Central Bank Digital Currencies (CBDCs) as a way to increase financial inclusion and lower the cost and risk of domestic and cross-border payment processes, Ripple is announcing the Ripple CBDC Platform, which is described as… Read More

April 30, 2023 @ 11:25 pm By Omar Faridi  |  

Volante Technologies, the global provider of cloud payments and financial messaging solutions to accelerate digital transformation, has released a partner-authored paper featuring insights “into the banking sector and projections for innovation-driven growth.” The report, the first in an annual series, “incorporates contributions from fifteen global… Read More

March 8, 2023 @ 3:50 pm By JD Alois  |  

An in-person and live-streamed Cato policy forum titled “Exploring the Risks of Central Bank Digital Currencies” on Thursday, March 9 from 1-2 pm EST. The Cato Institute is pleased to welcome Representative Tom Emmer (R-MN) to provide an opening address as the first member of… Read More

March 7, 2023 @ 9:58 am By JD Alois  |  

The Digital Pound Foundation and Global Policy Institute invite you to join us in London’s Canary Wharf on Monday 24 April for our FREE event – The CBDC Revolution: Global Implications of Central Bank Digital Currencies. This full day event is anticipated to spark some… Read More

September 19, 2022 @ 10:04 am By JD Alois  |  

It has been widely reported that the European Central Bank (ECB), has selected Amazon (NASDAQ:AMZN) alongside CaixaBank, Worldline AS, Nexi SpA, and EPI, to participate in a prototyping exercise as part of a review of a Central Bank Digital Currency (CBDC) or digital Euro. The… Read More

May 27, 2022 @ 6:44 pm By Omar Faridi  |  

  SWIFT, in collaboration with Capgemini, is conducting new experiments to test how we can interlink domestic CBDCs and “take the next step towards seamless cross-border payments involving digital currencies.” Interest in Central Bank Digital Currencies (CBDCs) is “on the rise.” A report from the… Read More

January 20, 2022 @ 3:35 pm By JD Alois  |  

The US Federal Reserve has published a discussion paper on central bank digital currencies or CBDCs. The consultation paper has long been anticipated from the central bank. The discussion paper summarizes the current state of the domestic payments system and discusses the different types of… Read More

December 2, 2021 @ 7:58 am By Omar Faridi  |  

Payments are faster and easier than ever before, the Chainalysis team writes in a blog post. As taps and texts continue to overtake cash and checks, they’re “increasingly digital, too,” the Chainalysis team adds while noting that thanks to the blockchain or distributed ledger tech… Read More

June 28, 2021 @ 4:18 pm By JD Alois  |  

The House Committee on Financial Services has distributed its schedule for the month of July. Included on the schedule are several Fintech-related topics. On July 16, commencing at 12 PM ET, the Artificial Intelligence Task Force will hold a hearing entitled “I Am Who I… Read More

May 4, 2021 @ 7:05 pm By JD Alois  |  

The Bank of Thailand has published a paper on central bank digital currency (CBDCs) entitle the Way Forward for Retail Central Bank Digital Currency in Thailand. Thailand has been a fairly innovation-friendly nation in regards to Fintech. Several years ago, Thailand participated in Project Inthanon,… Read More

April 2, 2021 @ 4:22 pm By Omar Faridi  |  

Reserve banks across the globe are increasingly focusing on developing or at least considering central bank digital currencies (CBDCs). They’re also looking into potential new ways to use virtual currencies to enhance the cross-border payments infrastructure. During the past few years, CBDCs have become one… Read More

December 15, 2020 @ 9:55 pm By Omar Faridi  |  

EMTECH has introduced its “pilot-ready” innovation and regulatory compliance platform, the Modern Central Bank Sandbox, which will focus on serving reserve banks that are planning to “streamline regulatory reviews,” work with innovators on emerging technology (EmTech), or safely test their Central Bank Digital Currencies (CBDC)…. Read More

October 27, 2020 @ 8:13 am By Omar Faridi  |  

A report published by Global Digital Finance notes that during the past 18 months, the developments related to central bank digital currencies (CBDC) have “accelerated dramatically.” CBDC projects have gone from the research stage to formulating key policy requirements. Countries like China have even introduced… Read More

October 20, 2020 @ 10:01 pm By Omar Faridi  |  

Dr. Ahmed Abdulkarim Alkholifey, the Governor of Saudi Arabian Monetary Authority (SAMA), the nation’s reserve bank, says that central bank digital currencies or CBDCs seem to be promising and are worth further exploration. Dr. Ahmed’s comments came during a recent webinar held by the International… Read More

October 19, 2020 @ 4:52 pm By Omar Faridi  |  

The Bank of Canada, the nation’s central bank, recently posted a new job requirement for an economist who may have experienced working with digital currencies and financial technologies or Fintech services. The reserve bank has noted that it aims to serve as “a leading central… Read More

September 12, 2020 @ 9:30 am By Omar Faridi  |  

Cypherium, which implemented the first cross-chain interoperability solution for central bank digital currencies (CBDCs) to communicate with their international counterparts, local industries and wholesalers, has revealed that it will raise funds through a secondary token sale. According to a release, the sale will give investors… Read More

September 9, 2020 @ 11:43 am By Samantha Hurst  |  

  Mastercard announced on Wednesday it has launched a central bank digital currencies (CBDCs) testing platform to enable central banks to assess and explore national digital currencies. According to Mastercard, CBDCs are designed to be equivalent in value to a nation’s paper currency and subject… Read More