Tagged: central bank

February 21, 2020 @ 8:05 am By Omar Faridi  |  

Sweden has reportedly begun piloting an electronic version of its national currency, the krona. The European nation’s government says that the e-krona is a step closer to its official launch as a central bank digital currency (CBDC). The testing of the country’s CBDC will go… Read More

February 20, 2020 @ 9:12 pm By Omar Faridi  |  

Banco Central de Brazil, the nation’s reserve bank, is planning to introduce an instant payments solution, PIX, in November 2020.  The Brazilian central bank noted on February 19 that the new instant payments platform will allow users to perform transactions using QR code technology. It… Read More

February 2, 2020 @ 6:05 pm By Omar Faridi  |  

The Bank of Japan (BoJ), the nation’s central bank, has been working on a virtual currency project for several years. The BoJ must be prepared to issue digital currencies if technical innovations in international settlement systems will increase consumer demand, the bank’s deputy governor noted… Read More

January 11, 2020 @ 12:04 pm By Omar Faridi  |  

Indian banking institutions and Fintech firms have reportedly been given the green light to use video calls, in order to carry out know-your-customer (KYC) compliance checks, after a recent ruling by the nation’s central bank. The updated rules and guidelines will allow regulated entities to… Read More

December 27, 2019 @ 6:53 am By Omar Faridi  |  

The Bank of Russia, the nation’s central bank, is reportedly testing various stablecoins, which are pegged to major fiat currencies or other types of real-world assets in a regulatory sandbox environment. Head of the Russian reserve bank, Elvira Nabiullina, says that the institution does not… Read More

December 26, 2019 @ 10:59 pm By Samantha Hurst  |  

The Bahamas’ Central Bank announced earlier this week that it will introduce a digital version of the Bahamian dollar, starting with a pilot phase in Exuma later this month, and extending in the first half of 2020 to Abaco. According to the bank, this initiative… Read More

December 16, 2019 @ 7:51 am By Omar Faridi  |  

The central bank of Sweden, the Riksbank, is responsible for promoting the development and maintenance of an efficient and secure payment system. The reserve bank acknowledges that this task may become more challenging if cash is no longer widely accepted as a means of payment… Read More

November 13, 2019 @ 10:03 am By Omar Faridi  |  

A senior executive at CMS, a law firm working with the National Bank of Hungary (MNB) on its Fintech strategy, says Hungary is “behind everyone” when it comes to adopting the latest digital banking technology. The CMS executive stated: “Hungarians do not use sophisticated Fintech… Read More

March 6, 2019 @ 12:24 pm By Samantha Hurst  |  

Medici Ventures, a blockchain accelerator and subsidiary of Overstock.com, Inc. (NASDAQ:OSTK) announced on Wednesday its portfolio company Bitt is using blockchain technology to conduct a Central Bank Digital Currency (CBDC) pilot across the Eastern Caribbean Currency Union’s (ECCU) member countries. Founded in 2013, Bitt’s mission… Read More

January 7, 2019 @ 9:28 am By Samantha Hurst  |  

Google (NASDAQ:GOOG) has received payment institution authorization from Ireland’s Central Bank. According to Irish Times, the Central Bank granted authorization to Google Payment Ireland under the second Payment Services Directive (PSD2) regulation. The company will now be allowed to issue and acquire payments across the European Union (EU)… Read More