Tagged: cbdcs

Fed Vice Chair Lael Brainard to Testify at House Committee on Financial Services Hearing on CBCDs

Rayburn House Office Building Washington DC Capitol Hill

Lael Brainard, the Vice-Chair of the Board of Governors at the US Federal Reserve, will testify today at the House Committee on Financial Services on the hot topic of Central Bank Digital Currencies (CBDCs). The Fed is currently researching the viability of a digital dollar… Read More

Mercado Bitcoin Teams Up with Stellar Development Foundation in LIFT Challenge Real Digital by Central Bank of Brazil, Fenasbac

Double Bitcoin

Mercado Bitcoin, which claims to be the largest exchange in Latin America, has teamed up with the Stellar Development Foundation (SDF) in order to develop one of the nine projects selected for the LIFT Challenge Real Digital, “a collaborative environment carried out by the Central… Read More

ECB President Christine Lagarde Slams Crypto: “Worth Nothing”

Christine Lagarde IMF Managing Director

European Central Bank (ECB) President Christine Lagarde hammered cryptocurrencies this past week during an interview with a Dutch broadcaster according to a report in Bloomberg. Lagarde, an EU official who has long expressed her interest in digital assets, is quoted stating: “My very humble assessment… Read More

G7 Finance Ministers, Central Bank Governors Issue Statement on CBDCs

Knödel Germany Food Kitchen Dining

  Following a meeting this week being held in Petersberg, Germany, G7 Finance Ministers and Central Bank Governors have issued a statement on the outcome of the meeting. While a good portion of the statement revolves around the war in Ukraine and the need for… Read More

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

Norwegian krone money Norway

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

Crypto, Blockchain Industry Report: Developers of CBDCs, NFTs, Virtual Currencies Should Prioritize Sustainability

Trees Forest Green Woods Canada

The blockchain sector saw some major changes during the past year, brought on by a “maturing” crypto ecosystem and the development of innovative technologies. American Fintech firm Ripple notes that it remained focused on better understanding and further analyzing this rapid “evolution” via primary and… Read More

Mastercard Expands Business with Practices Focused on Crypto, Open Banking, ESG

Mastercard Credit Cards

The business sector is facing an influx of innovation: changing consumer behavior and preferences, digital transformation as well as geopolitical shifts. In order to assist businesses with evolving and supporting their growth enterprise-wide, Mastercard (NYSE: MA) announced that it is expanding its payments-focused consulting service… Read More

Congressman Patrick McHenry Issues Statement on Federal Reserve Review of CBDCs

Patrick McHenry 12.8.21

Earlier today the US Federal Reserve announced a discussion paper seeking feedback on the possibility of a digital dollar. Central bank digital currencies, or CBDCs, are being reviewed by central banks around the world as policymakers aim to uncover if digital currency issued by governments… Read More

Fed Chair Jerome Powell Sees No Problem with Private Stablecoins Existing Alongside CBDCs

Jerome Jay Powell Senate Banking Committee January 2022

Chairman of the Federal Reserve Jerome Powell spent much of yesterday testifying in front of the US Senate Banking Committee as part of his nomination process. It is anticipated that Powell will easily be approved by the Committee as well as the full Senate for… Read More

MAS Reveals that Social Aspects of a Retail CBDC Featured “Strongly” in the Global CBDC Challenge: Report

Singapore iPhone Money

Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore (MAS), notes in the Global CBDC Challenge 2021 Report that history has shown that currency is a protean concept. Mohanty points out that from livestock around 9000 BC, to the introduction of paper money around… Read More

After Unprecedented 2021, Mastercard Predicts Even More Digital Currency Innovation in 2022

Mastercard Credit Cards

On its face (or at surface level), 2021 may not have seemed like the year cryptocurrency “got serious,” according to an end-of-year update from Mastercard (NYSE: MA). The team at Mastercard noted that this year, we had Elon Musk sending Dogecoin (a virtual currency initially… Read More

DeFinity Teams Up with Market Infrastructure Provider Cobalt to Support Real-Time FX Clearing, Credit Management of Trades

DeFi Decentralized Finance

DeFinity, an institutional digital asset ECN and DeFi marketplace for fiat FX, cryptocurrencies and central bank digital currencies, has teamed up with Cobalt, a market infrastructure provider that’s focused on ‘re-engineering the institutional FX and digital asset markets to facilitate real-time clearing, settlement and dynamic… Read More

SWIFT to Explore Tokenized Assets, May Expand Network into Digital Asset Market

Please Buy Tokens Digital Assets raj rana unsplash

Working with Clearstream, Northern Trust, SETL and others, SWIFT plans experiments in Q1 2022 in order to “explore how it can support interoperability in the development of the tokenized asset market.” Relative to digital currencies and stablecoins, the current market cap of tokenized assets is… Read More

CBDCs or Central Bank Digital Currencies May Completely Transform Global Economy: Report

Lane Change Ahead

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

Catherine Gu from Visa Explains How they Plan to Make Digital Currency Interoperable

Visa Credit Cards Debit Cards

Catherine Gu, Global CBDC Product Lead at Visa (NYSE: V) writes in a blog post that you should try imagining splitting the check with your friends, like when everyone at the table may be using a different “type of money” — some using a central bank… Read More

China’s Latest Attempt to Ban Crypto May Further Prove Benefits of Decentralized, Immutable Assets: Report

Hunan China emile guillemot unsplash

The cryptocurrency markets have been trading down after news of another crackdown on the industry from China. The People’s Bank of China (PBoC) has issued a statement that has reiterated that all cryptocurrency trading activities in the country are illegal, and regulatory authorities will be… Read More

CBDCs: Fluency, a Fintech Offering CBDC focused DLT Platform, Acquires $1.3M at $23.5M Pre-Money Valuation

Love Digital Euro

Fluency, a company that’s introducing a proprietary central bank digital currency or CBDC-focused blockchain enterprise platform, has received $1.3 million as part of a seed funding round from Europe-based investors (at a $23.5 million pre-money valuation). In statements shared with Finextra, Fluency Chief Executive Inga… Read More

Roxe to Enable “Secondary Fiat” Currency Solutions Backed by Bitcoin (BTC) Hashrate that Help Nations with Economic Growth

Bitcoin and Fiat Coins Money

Roxe, a next-gen international payment network, reveals that it will offer qualifying reserve banks with free access to its global Central Bank Digital Currency (CBDC) Plus Program. The new program will aim to enable countries to issue “new secondary or primary sovereign, fiat currencies backed… Read More

Monetary Authority of Singapore Chooses 15 Finalists for Global CBDC Challenge

Singapore Coins Money

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, revealed on August 30, 2021 that 15 finalists were selected for the international competition to create a retail Central Bank Digital Currency (CBDC) solution (Global CBDC Challenge). The finalists include financial institutions,… Read More

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