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RBI Report Highlights India’s Central Bank Digital Currency Development
21.8.2024
India’s central bank, the Reserve Bank of India (RBI), published its August bulletin on Monday. The report discusses several aspects of central bank digital currency (CBDC) and its implications. The RBI is actively involved in developing CBDC initiatives to enhance cross-border payments...
Polymarket Odds Suggest 81% Chance of RFK Jr. Exiting 2024 Race as Shanahan Hints at Trump Alliance
20.8.2024
Based on Polymarket odds, Robert F. Kennedy Jr., a 2024 independent presidential candidate, has a 81% probability of exiting the race after his running mate, Nicole Shanahan, hinted that their campaign might align with former President Donald Trump. On Tuesday, the odds of Kennedy withdrawing...
Pierre Poilievre Backs Bill to Ban Central Bank Digital Currency in Canada
16.8.2024
Pierre Poilievre, leader of Canada’s Conservative Party, backs a bill that seeks to ban central bank digital currency (CBDC) in Canada. He argues that a CBDC would give the government excessive control over finances, threatening privacy and economic freedom. “It’s time to put...
UAE and UK Accounting Bodies Partner to Shape Digital Finance Future
13.8.2024
The Institute of Chartered Accountants in England and Wales (ICAEW) has partnered with the United Arab Emirates (UAE) Banks Federation to help businesses understand and adapt to the digital asset landscape. The partnership aims to support the UAE’s position as a global leader in digital...
Kyrgyz Republic proposes digital som legislation, CBDC launch by 2027
9.8.2024
The small Central Asian country is currently taking public comments on its framework legislation
Google Pay, Amazon Pay, Walmart-Backed Phonepe Eye Entry Into RBI’s Digital Rupee Program
6.8.2024
Google Pay, Amazon Pay, and Walmart-backed Phonepe are reportedly seeking to join India’s central bank digital currency (CBDC) initiative led by the Reserve Bank of India (RBI). Other fintech firms like Cred and Mobikwik are also seeking participation. These companies aim to facilitate...
North Carolina lower chamber overturns governor’s veto of CBDC ban
1.8.2024
The bill received strong support in the General Assembly. Now the state Senate will consider overturning the veto
North Carolina lower chamber overturns governor’s veto of CBDC ban
1.8.2024
The bill received strong support in the General Assembly. Now, the state Senate will consider overturning the veto
India’s Digital Rupee Surpasses 5 Million Users, RBI Discloses
1.8.2024
India’s central bank, the Reserve Bank of India (RBI), has revealed that as of June, there were five million digital rupee users and 420,000 merchants participating in the retail central bank digital currency (CBDC) pilot. The RBI emphasized that the digital rupee is designed to complement...
Bybit introduces Indian digital rupee CBDC payment option
31.7.2024
The use of the CBDC on the cryptocurrency exchange will enhance security and, it hopes, attract merchants
Bank of England to experiment with wholesale CBDC, synchronization
30.7.2024
The BOE is considering applying DLT to its existing settlement system and introducing a wCBDC
Bank of England Plans Experiments with DLT and Wholesale CBDCs
30.7.2024
The Bank of England (BoE) is taking a proactive stance related to cryptocurrency, money, and payments. In a recently released discussion paper, the central bank outlined its plans to conduct a series of experiments with distributed ledger technology (DLT) and wholesale central bank digital...
Digital euro to be ‘most private electronic payment option’
30.7.2024
Since the inception of the digital euro, many critics have called the proposed digital currency a surveillance tool
Nigerian CBDC Adoption Lags, Makes Up Less Than 1% of Currency in Use
30.7.2024
Nigeria’s central bank digital currency, known as the eNaira, was the first of its kind in Africa. However, it currently represents only about 0.36% of the total currency in circulation. Nigerian experts attribute the slow adoption of the e-naira to its perceived lack of significant benefits...
Bank of England to Carry Out CBDC, Digital Ledger Experiments
30.7.2024
In a new discussion paper, the U.K. central bank also said it wants to ensure stablecoins are interchangeable with the pound
Slovenia Becomes First European Union Nation to Issue Sovereign Digital Bond
29.7.2024
The 30 million-euro ($32.5 million) bond was settled through the Bank of France's tokenized cash system and coordinated by BNP Paribas
Philippines Plans to Introduce Wholesale CBDC by 2029
27.7.2024
Bangko Sentral ng Pilipinas (BSP) plans to introduce its wholesale central bank digital currency (CBDC) by 2029. The Philippine central bank’s CBDC initiative is near its proof-of-concept completion. “This is an innovative payment instrument,” said the BSP deputy governor....
Fintech Company Tecban Pilots Tokenization Platform for Brazil’s Drex CBDC
27.7.2024
Tecban, a fintech that provides interconnection technology for banks, has launched a tokenization and associated services platform called Nexchain. This platform facilitates the process of placing assets on the blockchain for third parties as part of the Drex pilot. The platform will be launched...
Philippines Plans CBDC Launch by 2029 Under Project Agila
25.7.2024
The Philippines has also set its sights on releasing its own central bank digital currency (CBDC) by 2029 to create a wholesale form of currency. Project Agila, the initiative of the country’s central bank, is steadily approaching the Proof of Concept stage. This initiative will investigate...
Giesecke+Devrient: Ghana CBDC Nullifies the Need for Multiple Intermediaries in Cross-Border Payments
25.7.2024
The recently completed proof of concept by the Bank of Ghana and the Monetary Authority of Singapore demonstrated that the latter’s central bank digital currency enables cross-border payments, excluding many intermediaries and associated costs. Giesecke+Devrient (G+D) stated that the proof...