Tagged: cbdcs

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

August 4, 2022 @ 9:25 am By JD Alois  |  

An inquiry into the UK crypto industry has been announced by the All Party Parliamentary Group (APPG) for the UK Crypto and Digital Assets sector. The inquiry aims to focus on the UK’s approach to regulating crypto, the potential of Central Bank Digital Currencies (CBDCs),… Read More

July 29, 2022 @ 12:17 pm By JD Alois  |  

The Competitive Enterprise Institute (CEI), a non-profit DC think tank that advocates on behalf of free markets, has published a paper on stablecoins as well as central bank digital currencies. While CBDCs are state-managed digital currencies, perhaps utilizing blockchain technology, stablecoins are issued and managed… Read More

June 28, 2022 @ 9:32 pm By JD Alois  |  

The INX Digital Company (NEO: INXD) has announced a “non-binding memorandum of understanding” (MoU) with Switzerland-based SICPA.  According to a release, the MoU is a step towards partnering on a blockchain solution to enable central bank digital currencies (CBDCs). INX is a digital asset trading… Read More

June 18, 2022 @ 3:03 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) Innovation Hub is announcing a new set of projects across its various centers, “updating its 2022 work program.” They include the first three projects of the upcoming Eurosystem Centre and the first in-depth explorations in cybersecurity. The Eurosystem Centre… Read More

June 1, 2022 @ 7:40 am By Omar Faridi  |  

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

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

May 26, 2022 @ 7:36 am By JD Alois  |  

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

May 25, 2022 @ 2:51 pm By Omar Faridi  |  

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

May 22, 2022 @ 2:05 pm By JD Alois  |  

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

May 20, 2022 @ 9:43 am By JD Alois  |  

  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

May 18, 2022 @ 3:18 am By Omar Faridi  |  

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

February 25, 2022 @ 8:26 am By Omar Faridi  |  

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

February 16, 2022 @ 3:56 pm By Omar Faridi  |  

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

January 20, 2022 @ 8:56 pm By JD Alois  |  

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

January 12, 2022 @ 12:05 pm By JD Alois  |  

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

January 10, 2022 @ 12:47 am By Omar Faridi  |  

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

December 28, 2021 @ 4:37 am By Omar Faridi  |  

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