Tagged: cbdcs

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

December 27, 2021 @ 1:40 pm By Omar Faridi  |  

The blockchain and crypto-assets space has grown tremendously during the past 18 months due in part to the acceleration of the ongoing digital transformation. Many more consumers and business organizations are completing tasks online instead of visiting physical locations to avoid the further spread of… Read More

December 23, 2021 @ 5:23 pm By Omar Faridi  |  

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

December 23, 2021 @ 10:43 am By Omar Faridi  |  

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

December 2, 2021 @ 7:58 am By Omar Faridi  |  

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

October 4, 2021 @ 8:33 am By Omar Faridi  |  

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

September 27, 2021 @ 11:52 pm By Omar Faridi  |  

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

September 8, 2021 @ 11:17 am By Omar Faridi  |  

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

September 2, 2021 @ 11:46 pm By Omar Faridi  |  

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

August 30, 2021 @ 10:10 am By Omar Faridi  |  

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

August 22, 2021 @ 9:13 pm By Omar Faridi  |  

The Bank of Thailand (BOT) has introduced its plans (after an extensive study) to start testing a retail central bank digital currency (CBDC) during Q2 2022. The BOT had carried out a research study on the implications and feasibility of issuing a retail CBDC, as… Read More

August 9, 2021 @ 11:26 am By Omar Faridi  |  

In April of last year, China had started testing out the the virtual yuan, becoming one of the first world governments to issue a Central Bank Digital Currency (CBDC). CBDCs like the virtual renminbi are government-issued, blockchain or distributed ledger tech (DLT)-enabled versions of a… Read More

July 12, 2021 @ 7:31 am By Omar Faridi  |  

At a time when reserve banks across the globe are increasingly focusing on their digital currency initiatives, Switzerland’s apparent lack of interest in seriously looking into central bank digital currencies (CBDCs) might make the leading European economy less competitive. This, according to a recent analysis… Read More