Tagged: central bank digital currencies

Fintech 2025 Strategy Announced by Hong Kong Monetary Authority, Includes Comprehensive CBDC Plan

The Hong Kong Monetary Authority (HKMA) announced on Tuesday (June 8, 2021) the updated “Fintech 2025” strategy for promoting financial tech development in the Special Administrative Region of the People’s Republic of China. Eddie Yue, CEO at HKMA,  has outlined Hong Kong’s new Fintech strategy,… Read More

CBDCs: Sweden’s Reserve Bank Is Reportedly Working with Commercial Lender to Test Proposed Virtual Currency

Sweden’s reserve bank will reportedly be working cooperatively with commercial lender Handelsbanken in order to test out how the nation’s proposed digital currency, the e-krona,  may handle payments in the real world, the Riksbank revealed on Friday (May 28, 2021). Reserve banks across the globe… Read More

CBDCs, Bitcoin, Other Cryptocurrencies, and Fiat May be Able to Co-Exist Given Current State of Development: Report

Sovereign governments could potentially be the next group to adopt digital assets, according to a report from crypto-assets firm Kraken. Kraken writes in an update that central bank digital currencies (CBDCs) might become “the latest, and perhaps most substantial tool, used to expand their monetary… Read More

CBDCs: China to Expand Digital Yuan Pilot Program into other Cities, but No Confirmed Date for Official Virtual Currency Launch

China is reportedly expanding its virtual yuan experiments to more local cities, however, there’s no exact timetable for its official launch, central bank Vice Governor Li Bo stated during an annual meeting on Sunday (April 18, 2021) of both Chinese and foreign policymakers, senior executives… Read More

Pakistan to Conduct Research on Developing its own Central Bank Digital Currency to Enable Greater Financial Inclusion

Pakistan is reportedly planning to carry out studies in order to potentially launch a State-backed virtual currency so that it can enhance its existing banking system, enable greater financial inclusion, and also ensure that illicit activtiies such as money laundering are not being carried out… Read More

Bank of Japan Official Says China’s Digital Yuan Will Not Pose Threat to US Dollar’s Position as Global Reserve Currency

A senior Bank of Japan (BoJ) official has stated that China’s digital renminbi will not be able to pose a threat to the US dollar’s dominant position as the global reserve currency. As reported by Bloomberg, Kazushige Kamiyama, who heads the BoJ’s payment systems division… Read More

CBDCs: Bank of Japan Reveals it has Officially Begun Phase 1 of its Digital Currency Tests

The Bank of Japan (BoJ) revealed on Monday (April 5, 2021) that it has officially started Phase 1 of its central bank digital currency (CBDC) pilots and related experiments. The initial phase of testing will mainly focus on assessing the basic functions of CBDCs as… Read More

CBDCs: Bank of International Settlements Explains how Interoperability and Common Interfaces are Needed for Central Bank Digital Currencies

Reserve banks across the globe are increasingly focusing on developing or at least considering central bank digital currencies (CBDCs). They’re also looking into potential new ways to use virtual currencies to enhance the cross-border payments infrastructure. During the past few years, CBDCs have become one… Read More

Researchers at McGill are Reportedly Working on Potential Design for Bank of Canada Virtual Currency or CBDC

The research team at McGill is reportedly collaborating on the potential design for the new Bank of Canada digital currency. Professors Katrin Tinn and Christophe Dubach have jointly proposed a new design for a “cash-like” central bank digital currency or CBDC which will aim to… Read More

Central Bank Officials are Not Confident in Bitcoin or Other Digital Currencies’ Ability to Serve as Legitimate Financial Instruments

Existing virtual currencies are unlikely to last, according to Bank of England governor Andrew Bailey. Decentralized cryptocurrencies like Bitcoin (BTC) or Bitcoin Cash (BCH) don’t have the appropriate structure to work as a viable long-term payments method, according to Bank of England (BoE) governor Andrew… Read More

Blockchain or DLT based Tokenization Is Inevitable, as Global Rivalry in Digital Currencies Continues, Industry Exec Explains

Tal Elyashiv, Founder and Managing Partner at SPiCE VC, which claims to be the first fully compliant (regulation wise) tokenized venture capital fund, notes that today, we’re at the beginning of what might be the greatest transformational period in modern history. Elyashiv writes in an… Read More

CBDCs: Modern Central Sandbox Introduced by EMTECH to Help with Testing Central Bank Digital Currencies

EMTECH has introduced its “pilot-ready” innovation and regulatory compliance platform, the Modern Central Bank Sandbox, which will focus on serving reserve banks that are planning to “streamline regulatory reviews,” work with innovators on emerging technology (EmTech), or safely test their Central Bank Digital Currencies (CBDC)…. Read More

Cypherium, an Interoperability Solution Provider for Blockchain based Digital Currencies, Finalizes Public Sale, Raising $28M in Total

Cypherium, an enterprise-focused distributed ledger tech (DLT) platform that aims to facilitate interoperability between blockchains and central bank digital currencies (CBDCs), revealed on November 18, 2020, that it had finalized its public sale round and has now acquired $28 million in capital through the sale… Read More

Norway Is Not in a Rush to Launch its Own Digital Currency Even though Cash Usage has Declined Significanty

The reserve bank in Norway has confirmed that it’s not in a rush to issue a digital Krone, even though a recent research study indicates that cash usage in the country is now down to only 4% of all financial transactions. Declining cash usage is… Read More

Tourism Industry has Struggled due to COVID, and now Many Tourism focused Countries May Adopt Digital Currencies to Boost Economy

The COVID-19 pandemic has created many different socioeconomic challenges. It has definitely been a really tough year for the travel and tourism industry as most people were forced to cancel their travelling plans and stay at home (to prevent the further spread of the virus)…. Read More

Dave Hodgson: CIO at NEM Group and MD at NEM Ventures Discusses Plans for Enterprise Blockchain Development and Support for DeFi

  We recently connected with Dave Hodgson, Chief Investment Officer at NEM Group and Managing Director NEM Ventures. NEM (XEM) is a major blockchain or distributed ledger technology (DLT) based platform for building and deploying decentralized applications (dApps). Hodgson’s role encompasses group investment management, jurisdictional… Read More

Ledger Vault Chosen by Societe Generale-Forge to Offer Security Services for its Central Bank Digital Currency or CBDC Tests

Ledger Vault, a cold or offline storage solution provider for digital assets, has reportedly been chosen by France’s Societe Generale-Forge to offer security solutions for its central bank digital currency (CBDCs) project. As noted by the Ledger Vault team, Societe Generale-Forge, the digital capital markets… Read More

Governor of Saudi Arabian Monetary Authority Says Central Bank Digital Currencies Seem Promising and are Worth Exploring

Dr. Ahmed Abdulkarim Alkholifey, the Governor of Saudi Arabian Monetary Authority (SAMA), the nation’s reserve bank, says that central bank digital currencies or CBDCs seem to be promising and are worth further exploration. Dr. Ahmed’s comments came during a recent webinar held by the International… Read More

Bank of Canada Is Reportedly Planning to Hire Economist that Will Conduct Research related to Fintech and Central Bank Digital Currencies

The Bank of Canada, the nation’s central bank, recently posted a new job requirement for an economist who may have experienced working with digital currencies and financial technologies or Fintech services. The reserve bank has noted that it aims to serve as “a leading central… Read More

Meltem Demirors: CSO at CoinShares Says Cryptocurrency Is “Inevitable” and We Might See Many Bad Policies from Lawmakers

  We recently spoke to Meltem Demirors, the Chief Strategy Officer at CoinShares, a digital asset treasury management firm that manages over $1 billion in assets. Demirors talked about how financial markets reacted after US President Donald Trump tested positive for COVID-19. She also discussed… Read More

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