Tagged: reserve banks

Reserve Bank of the Philippines to Continue Working on its Central Bank Digital Currency which Might Streamline Financial Services

Benjamin Diokno, the Governor of the Reserve Bank of the Philippines, recently noted that the underlying technology behind digital tokens may streamline or enhance existing financial services. The nation’s central bank is looking into the feasibility of issuing its own virtual currency. Diokno believes that… Read More

Reserve Bank of India is Working on Enabling Offline Digital Payments to Help Consumers in Rural Areas Join the Formal Economy

The Reserve Bank of India (RBI), the nation’s central bank that controls the issue and supply of the Indian rupee, is reportedly working on an offline digital transactions pilot, in order to get more consumers in rural areas, without internet connections, to adopt virtual payments…. Read More

Sky Guo, Founding Member at OMFIF Digital Monetary Policy Institute, Explains why Interoperability Is an Important Aspect of Central Bank Digital Currencies, or CBDCs

  We recently caught up with Sky Guo, a founding member at the OMFIF Digital Monetary Institute, the global central banking think tank that assists policymakers with understanding central bank digital currencies (CBDCs). Guo, who’s also the founder of Cypherium, which focuses on enabling interoperability… Read More

Internationally Comparable Information on Fintech Is “Lacking in Offical Statistics,” Bank for International Settlements Explains

  The Bank for International Settlements (BIS), a global financial institution owned by reserve banks that aims to support international monetary and financial cooperation and acts as a bank for central banks, notes that as financial technology, or financial innovation and digitalization, begin to transform… Read More

New Proposal Recommends Multi-Currency CBDC including Chinese Yuan, Japanese Yen, South Korean Won, Hong Kong Dollar

Many developing and developed countries across the globe are considering or already developing and testing their own central bank digital currencies (CBDCs). China might be creating an East Asia virtual currency platform, according to a report from the Nikkei Asian Review. The new currency might… Read More

The Official Monetary and Financial Institutions Forum (OMFIF) Establishes Digital Monetary Institute

The Official Monetary and Financial Institutions Forum (OMFIF), an independent think tank organization focused on central banking, economic policy, and public investment, recently established the Digital Monetary Institute. The Institute aims to serve as a high-level group that brings together policymakers, tech specialists, financiers and regulators… Read More

Interest in CBDCs May Be “Accentuating” Bitcoin’s (BTC) Role in the Global Digital Economy, New Report Claims

Grayscale Investments, a subsidiary of the Digital Currency Group (DCG), has published a report which argues that legacy banking infrastructure has made it difficult to distribute stimulus money, following the COVID-19 outbreak. The report states: “Central bank digital currencies [CBDCs] have the potential to streamline… Read More

Reserve Banks Must Look into Issuing Digital Versions of Cash to Prevent “Privatization” of Money: Report

Reserve banks must seriously look into issuing a digital version of cash in order to prevent the “privatization” of money, according to research and campaign group Positive Money. The group’s recent report argues that trust in the existing monetary system might disappear, if banks don’t… Read More

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