Tagged: central bank digital currency

Report: the Banque of France will Begin Testing a Central Bank Digital Currency in 2020

The French France

The Banque of France will begin testing a Central Bank Digital Currency (or CBDC) in 2020, according to a report in Les Echos – the leading business publication of France. Quoting François Villeroy de Galhau, the Governor of the Banque of France, who was speaking… Read More

People’s Bank of China Denies It Has Begun Circulating a National Digital Currency

Officials at the People’s Bank of China have issued an official statement disclaiming rumours that China has begun issuing a central bank digital currency (CBDC). “Recently, the net news said that the People’s Bank of China has issued (a) legal digital currency,” the communiqué states,… Read More

Tommaso Mancini-Griffoli from IMF Pitches Synthetic Central Bank Digital Currency

In a presentation entitled “The Future of Money: The Impact of Digitization, including “social coins” on Currency, Payments and Markets, Tommaso Mancini-Griffoli, Deputy Division Chief in the Monetary and Capital Markets Department from the IMF pitched the concept of a “synthetic CBDC” (Central Bank Digital… Read More

Deputy Governor of France’s Central Bank Says Lawmakers Should Develop Standardized Crypto Regulations

Denis Beau, deputy governor of Banque De France, the nation’s central bank, says that lawmakers should develop a comprehensive global regulatory framework for digital assets. Beau, whose comments came during a speech at an Official Monetary and Financial Institutions Forum (OMFIF) conference in London on… Read More

BIS, “Central Bank of Central Banks,” Exploring Interbank Digital Asset Settlement and Central Bank Digital Currency at Switzerland Innovation Hub

The Bank for International Settlements (BIS), popularly known as the “central bank of central banks,” will be engaging in two projects at the BIS’s newly-established Innovation Hub in Switzerland, one of which involves, “examin(ing) the integration of digital central bank money into a distributed ledger technology… Read More

CBDC: US House Representatives Ask Federal Reserve to Consider Issuing a National Digital Currency

Two US lawmakers have asked the Federal Reserve to consider issuing a digital version of the US dollar (or Central Bank Digital Currency – CBDC).  Rep. Bill Foster (D-III.) and Rep. French Hill (R-Ark.) have submitted a letter to Federal Reserve Chairman Jerome Powell in… Read More

Shares of China’s Fintech Firms Are Surging As Investors Prepare for Launch of National Digital Currency

Shares of Chinese Fintech firms are surging as the nation’s investors prepare for the upcoming launch of a national digital currency. China’s new internet-based currency is expected to increase demand for related security and payment services. The CSI Fintech theme index, an index that tracks… Read More

Report: China’s Digital Currency Probably Won’t Involve Blockchain

Although payments are increasingly digital, China has little interest in creating a self-settling digital yuan system using blockchain, Abacus News reports. According to the outlet: “China is increasingly a cashless society. Even street-food sellers in small towns will prefer to use a mobile payment app… Read More

China Banking Official: “People’s Bank Digital Currency Can Now Be Said to Be Ready”

After five years in development, the deputy director of the People’s Bank of China’s Payments and Settlement Division, Mu Changchun, says, “(The) People’s Bank digital currency can now be said to be ready.” Shanghai Securities News (SSN) writes that  Mu made the announcement at the third… Read More

China: WeiyangX Fintech Review

China’s State Council Approves the Research and Development of CBDC At the launching ceremony and the first academic seminar of the Digital Finance Open Research Project held on July 8th, Wang Xin, director of the Research Bureau of the People’s Bank of China, revealed that… Read More

Who Will Own, and Operate, the Money We Use?

As Fintech Challenges the World Order. We know how fundamentally the internet and the web have changed not just the world of work, business and commerce but all our lives and the way we live, around the world. It’s touched and changed just about everything… Read More

Head of German Bundesbank Advises Against Creation of Central Bank Digital Currencies

The President of Germany’s central bank, Jens Weidmann, has warned that implementing central bank digital currencies (CBDCs) could lead to the destabilization of global financial systems, especially during times of fiscal crisis. The warning came during a speech delivered at the opening of the Bundesbank… Read More

Hong Kong Monetary Authority & Bank of Thailand Sign MoU on Fintech Collaboration, Seek to Investigate CBDCs

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have signed a Memorandum of Understanding (MoU) to collaborate on Fintech innovation between the two regulatory authorities. The MoU was signed between Norman Chan, Chief Executive of the HKMA, and Veerathai Santiprabhob, Governor… Read More

Project Inthanon: Bank of Thailand Pushes Forward with Central Bank Digital Currency

The Bank of Thailand is moving forward with developing a Central Bank Digital Currency (CBDC). The initiative labeled Project Inthanon, has developed a prototype CBDC in partnership with R3 and Wipro (NYSE: WIT). The Bank of Thailand is also working with eight commercial banks in… Read More

The Bank of Canada and Monetary Authority of Singapore Use Blockchain for Cross Border Payment Experiment using CBDC

The Central Bank of Canada and Monetary Authority of Singapore (MAS) have jointly announced the successful “experiment” of cross border payments using blockchain or distributed ledger technology (DLT). The two central banks claim this is the first test anywhere of its kind stating it has… Read More

Bank of England Cashier: Cash Use Declining But Cash Still Here

Sarah John, Chief Cashier at the Bank of England told Currency Conference 2019 attendees in Dubai this week that use of cash is declining in the UK but that bank notes are not yet passé. John cited statistics showing that cash use dropped from 61%… Read More

World Economic Forum Charts Central Bank Digital Currency Usage and Research

Earlier this week, the World Economic Forum (WEF) published an interesting report covering the usage and investigation of Central Bank Digital Currency (CBDC).  It has been widely reported that many central banks have been kicking the tires of CBDC with some making proclamations regarding the… Read More

Reserve Bank of India is Studying the Issuance of a Central Bank Digital Currency

The Reserve Bank of India (RBI) published its annual report this week and buried within the massive tome are many indications as to the banks perspective on Fintech. One item of note is the fact the RBI is currently studying the possibility of issuing a… Read More

Central Bank Digital Currencies: Bank for International Settlements Weighs in on Government Crypto

Rise of the CBDC Coin? Perhaps. The Bank for International Settlements have added their $0.02 to the discussion in a recently published paper from the Committee on Payments and Market Infrustructure, Markets Committee. The report entitled Central Bank Digital Currencies (or CDBCs) is the work… Read More

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