Tagged: cbdcs

November 11, 2022 @ 10:59 am By JD Alois  |  

The Federal Reserve Bank of New York, New York Innovation Center (NYIC), and the Monetary Authority of Singapore (MAS) have announced a partnership aimed at experimenting with Central Bank Digital Currency (CBDC) to improve the efficiency of cross border wholesale payments using multiple currencies. The… 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 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 24, 2022 @ 10:43 am By JD Alois  |  

There has been a lot of initial excitement surrounding the possibility of a digital dollar – a government-issued, central bank digital currency (CBDC).  The enthusiasm is primarily due to certain expectations that a CBDC will be frictionless, a low-cost currency that will help underbanked segments… Read More

October 16, 2022 @ 11:35 pm By JD Alois  |  

There has been much discussion as to the benefits of Central Bank Digital Currencies (CBDCs). Many developed countries are researching the pros and cons, and China has been testing with consumers a digital yuan for some time now. The flip side to a CBDC is… 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 5, 2022 @ 12:30 pm By JD Alois  |  

Representative Patrick McHenry, ranking Republican on the House Financial Services Committee, along with Representative French Hill and members of the Republican Digital Asset Working Group, have sent a letter to the US Department of Justice requesting an assessment on whether or not legislation is needed… 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 16, 2022 @ 11:41 am By JD Alois  |  

After months of behind-the-scenes discussion, the White House revealed its “Fact Sheet” on the responsible development of digital assets or crypto-assets. The Executive Order issued by the White House last March sought to outline the administration’s approach, is now being expanded to be utilized as… 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

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