Tagged: cbdc

February 19, 2023 @ 7:35 pm By JD Alois  |  

As the world knows, most central banks in the developed world are investigating the benefits and risks of issuing digital currency. While the bulk of transactions is already handled electronically today, the thesis is that by incorporating new technology, a digital currency – or digital… Read More

February 9, 2023 @ 8:46 am By Omar Faridi  |  

Fireblocks Director of CBDC & Market Infrastructure Varul Paul has commented on the recent Bank of England Consultation paper focused on the development of the Digital Pound. Prior to Fireblocks, Varun spent 14 years “at the Bank of England, where he supported key decisions on interest… Read More

January 3, 2023 @ 8:49 am By Omar Faridi  |  

In the scope of the first-phase studies of the Digital Turkish Lira Project, conducted under the leadership of the Central Bank of the Republic of Türkiye (CBRT), the first payment transactions on the Digital Turkish Lira Network were “executed successfully.” The CBRT will “continue to… Read More

December 26, 2022 @ 8:34 am By Omar Faridi  |  

A joint research effort between the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology into the technical feasibility of a potential central bank digital currency “is now complete.” The Boston Fed’s work on CBDC with MIT’s Digital Currency Initiative is known as… Read More

December 22, 2022 @ 10:07 pm By Omar Faridi  |  

The INX Digital Company, Inc. (NEO: INXD), a broker-dealer and inter-dealer broker – offering the first-ever SEC-regulated digital asset trading platform for both cryptocurrencies and security tokens, announced that it has officially entered into a strategic partnership with SICPA, which claims to be a global… Read More

December 12, 2022 @ 10:25 am By JD Alois  |  

The Bank of England has posted a request for applicants for a contracted service to create a proof of concept digital wallet for a Central Bank Digital Currency (CBDC). The Bank has been investigating the potential for a digital pound, similar to many other central… Read More

December 2, 2022 @ 10:56 am By JD Alois  |  

The Depository Trust & Clearing Corporation (DTCC), in partnership with The Digital Dollar Project (DDP) and Accenture, has published a white paper titled “Exploring Post-Trade Security Settlement with a US Central Bank Digital Currency.” The paper outlines the findings of a pilot project exploring how… Read More

November 7, 2022 @ 9:43 am By Omar Faridi  |  

The BIS Innovation Hub is launching a new project around central bank digital currencies (CBDCs) and Decentralized Finance (DeFi) protocols “as part of its 2022 work program.” Project Mariana “explores automated market makers (AMM) for the cross-border exchange of hypothetical Swiss franc, euro and Singapore… Read More

October 31, 2022 @ 2:16 pm By JD Alois  |  

DBS, a top financial services group in Asia with a presence in 18 markets and based in Singapore, has announced an initiative to create a programmable digital Singapore dollars (DSGD). The project has the defacto approval of the Singapore government which recently indicated its support… Read More

October 25, 2022 @ 9:36 pm By Omar Faridi  |  

Japan’s “only” international payment brand JCB Co., Ltd. has launched “JCBDC” (JCB Digital Currency) pilot project with identity technologies no. 1 IDEMIA and Fintech company Soft Space Sdn. Bhd. JCBDC pilot will “develop a CBDC (Central Bank Digital Currency) payment solution and conduct a pilot… Read More

October 19, 2022 @ 2:09 pm By JD Alois  |  

The concept of a central bank digital currency (CBDC), privately issued stablecoins, and digital currency, in general, has swirled together for some time now. Some policymakers and pundits believe that for the dollar to continue to reign as the world’s default currency, it must move… Read More

October 14, 2022 @ 6:11 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) and Bank Indonesia recently announced the winners of the G20 TechSprint 2022 challenge during a live award ceremony in Jakarta. This year’s competition, under the Indonesian G20 Presidency, was launched in April to catalyze new technologies that “would better… Read More

October 6, 2022 @ 8:08 am By Omar Faridi  |  

SWIFT has reportedly shown that Central Bank Digital Currencies (CBDCs) and tokenized assets can “move seamlessly on existing financial infrastructure – a major milestone towards enabling their smooth integration into the international financial ecosystem.” The findings, from two separate experiments, “solve the significant challenge of… Read More

October 2, 2022 @ 11:56 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) and the central banks of Israel, Norway and Sweden are launching Project Icebreaker, a joint exploration of how central bank digital currencies (CBDCs) can be “used for international retail and remittance payments.” Cross-border payments “continue to be plagued by… Read More

September 26, 2022 @ 11:48 pm By Omar Faridi  |  

The Central Bank of Iran (CBI) said this past Wednesday that it will “begin the pilot launch of crypto-rial as the bank’s digital currency as of Thursday.” The CBI has said that “the aim of designing the crypto-rial is to turn banknotes into a programmable… Read More

September 19, 2022 @ 10:47 pm By Omar Faridi  |  

EMTECH, a central banking infrastructure provider, announced it will take part in the recently announced Technical Sandbox Program by The Digital Dollar Project in order “to explore the new possibilities of a U.S. CBDC ‘Digital Dollar’.” As one of the 4 announced technical vendors, EMTECH… 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

August 12, 2022 @ 9:19 am By Omar Faridi  |  

Invest Hong Kong (InvestHK) and the Hong Kong Monetary Authority (HKMA) jointly announced the addition of the Central Bank Digital Currency (CBDC) track to the Global Fast Track 2022, “giving local and global firms valuable opportunities to partner with the central banking institution to boost… Read More

August 10, 2022 @ 10:17 pm By Omar Faridi  |  

The Reserve Bank of Australia is collaborating with the Digital Finance Cooperative Research Centre (DFCRC) on a research project “to explore use cases for a central bank digital currency (CBDC) in Australia.” Considerable research has been “undertaken by central banks, including the Reserve Bank, into… Read More

August 6, 2022 @ 11:37 am By Omar Faridi  |  

​Ms. Vachira Arromdee, Deputy Governor of the Bank of Thailand (BOT), has noted that central banks around the world “have focused closely on the development of Retail CBDC and see the potential of Retail CBDC as being the foundation of the future financial system.” The… Read More