Tagged: cbdc

Congressman Jim Himes Publishes Paper Promoting the Use of a CBDC

Congressman Jim Himes, an elected official from Connecticut, has published a “white paper” on the benefits of a central bank digital currency (CBDC). Upon release, Himes issued the following statement: “Over the last few years, we have seen other governments make real progress in establishing… Read More

Fireblocks Hires Former Head of Fintech from Bank of England As Director of CBDC, Market Infrastructure

Fireblocks, which claims to be the industry “leader” focused on digital asset and crypto technology, announced that it has appointed the former Head of Fintech at the Bank of England, Varun Paul, “as its new Central Banking Digital Currency (CBDC) and Market Infrastructure Director.” In… Read More

CBDCs: New Experiments Pave Way for Global Payments Using Central Bank Digital Currencies

  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

Legislation Introduced in US Senate Aiming to Halt Digital Yuan Usage in the US

A group of Republican US Senators has introduced legislation designed to knee-cap the digital yuan – a Central Bank Digital Currency (CBDC) that is already in use – albeit on a limited basis. Senators Tom Cotton, Marco Rubio, and Mike Braun have revealed the “Defending… Read More

PopPay Platform in The Bahamas Expands to Government-backed Virtual Currency

PopID and SunCash announced that for the “first time” in history, consumers can now use the PopPay face verification platform “to purchase goods and services with a central bank digital currency (CBDC) – digital money issued and backed by a government.” Bahamian consumers can now… Read More

CBDCs: Nahmii to Work with Norges Bank on Central Bank Digital Currency Sandbox Project

Nahmii AS are pleased to confirm that they have been chosen to work with Norges Bank (the central bank of Norway) on their upcoming experimental CBDC (central bank digital currency) sandbox project. This “prestigious” award confirms Nahmii AS’s position as “a global leader in the… Read More

Secretary of the Treasury Janet Yellen Discusses, CBDCs, Stablecoins, & Digital Asset Innovation

Speaking at American University today, Secretary of the Treasury Janet Yellen addressed the emerging sector of digital assets as well as stablecoins and central bank digital currencies (CBDCs). Secretary Yellen reflected on the growth of digital assets, rising from just $14 billion to around $3… Read More

Senator Pat Toomey Proposes Legislation to Regulated Stablecoins

Stablecoin TRUST Act of 2022 Senator Pat Toomey has proposed legislation to regulate stablecoins. Toomey is the ranking Republican on the Senate Banking Committee. The Senator’s legislation incorporates the key components: Authorizes three different options to issue payment stablecoins: Establishes a new federal license designed… Read More

MIT to Collaborate with Another Central Bank on CBDC as Bank of England Enters 12 Month Project on Digital Pound

The Bank of England has enlisted the Massachusetts Institute of Technology (MIT) to engage in a project to review the potential of a digital pound or central bank digital currency (CBDC). The collaboration between the Bank and the MIT Media Lab’s Digital Currency Initiative (DCI)… Read More

CBDCs: Blackstone CEO Thinks Digital Dollar Could be a Good Thing for the Economy

In his annual letter to shareholders, Blackstone CEO Larry Fink commented on a broad range of issues including the “end of globalization” and the power of capital markets. The end of globalization is largely due to the unprovoked invasion by Russia and war in Ukraine… Read More

Similar to US Federal Reserve, Bank of Canada Works with MIT on CBDC Project

The Bank of Canada has announced a partnership with the Massachusetts Institute of Technology (MIT) on a project to investigate the potential of issuing a Central Bank Digital Currency (CBDC). Some time ago, the US Federal Reserve made a similar announcement of a project with… Read More

Payments in the Future: IDC InfoBrief Commissioned by Episode Six Looks at 2023 and Beyond

It’s no secret the process of how we pay for goods and services is changing before our eyes and the latest IDC InfoBrief commissioned by Episode Six speculates on what the future will look like. In 2030 they expect 74 per cent of global consumer… Read More

ECB President Christine Lagarde Says Final Decision on Digital Euro in 2024

In a speech delivered to the European Parliament, Christine Lagarde, the President of the European Central Bank (ECB), stated that a decision on a digital Euro will be made by 2024. The ECB decided to launch the investigation phase of the digital euro project in… Read More

Boston Federal Reserve, MIT Publish CBDC Document, Creates Platform Capable of 1.7 Million Transactions per Second

The Federal Reserve of Boston and the Massachusetts Institute of Technology (MIT) have published a whitepaper on the possibility of a central bank digital currency or CBDC. The document has been anticipated for some time as the collaboration was announced in 2020. The initiative has… Read More

Don’t Do It: CEI, a DC Think Tank, Tells Federal Government Not to Issue CBDC

While multiple countries around the world are pushing forward with a central bank digital currency (CBDC) and the US is reviewing the pros and cons, one prominent DC-based think tank is telling public officials not to move forward on a digital dollar. The Competitive Enterprise… Read More

India to Release CBDC in 2022-23, Details Scarce

The Reserve Bank of India plans to launch a digital rupee in the 2022-23 fiscal year that begins on April Fools’ Day, Finance Minister Nirmala Sitharaman said today, saying it will boost the digital economy. She made the comments while delivering the country’s annual budget…. Read More

Congresswoman Maxine Waters Issues Statement on CBDCs: Must Focus on Financial Inclusion

This past week, the US Federal Reserve issued a discussion document on the possibility of a central bank digital currency or CBDC. Like many central banks around the world, the Fed is considering if a digital dollar will be a positive step or a negative… Read More

US Federal Reserve Publishes Consultation on Central Bank Digital Currencies (CBDCs), Looks for Feedback

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

China: WeiyangX Fintech Review

Tencent Releases Metaverse-Rate Scoring System On January 12th, Tencent News and the School of Journalism, Fudan University jointly released the “2021-2022 Metaverse Annual Report”. For the first time, the report proposed the concept of “Metaverse-Rate” which will become the scoring standard for the development of… Read More

Project Helvetia: Swiss National Bank, Along with SIX and BIS, Test CBDC Settlement

The Swiss National Bank (SNB) has successfully tested wholesale CBCD [central bank digital currency] settlement in a partnership with the Bank for International Settlements (BIS) and SIX (parent of the Swiss Stock Exchange). The test was completed during Q4 2021. The project utilized SDX, the… Read More

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