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CBDC Launch ‘May Cost Russian Banks $684m a Year’

13.2.2023
Russian commercial banks will lose $684 million a year if the nation’s Central Bank launches a central bank digital currency (CBDC), experts have claimed. The Central Bank vehemently opposes the adoption of what it calls “private cryptocurrencies” such as bitcoin (BTC). But the bank wants...

UAE Plans to Issue a CBDC to Promote Digital Payments

13.2.2023
The issuance of a digital dirham is one of nine key initiatives in the United Arab Emirates' new Financial Infrastructure Transformation Program

UAE central bank to issue CBDC as part of its financial transformation program

13.2.2023
The issuance of a CBDC aims to address inefficiencies in cross-border payments and drive innovation for domestic payments

India’s Central Bank Reveals 50,000 Users and 5,000 Merchants Now Using Digital Rupee

12.2.2023
India’s central bank, the Reserve Bank of India (RBI), has revealed that 50,000 users and 5,000 merchants are now using its central bank digital currency (CBDC). Digital rupee transactions are currently processed by eight banks, with five more banks set to join the pilot soon, said RBI Deputy...

China to launch national blockchain research center

10.2.2023
The goal of the new state-supported institution is to speed up the country’s industry through blockchain technology

Central Bank of Brazil to Test Security and Transaction Privacy Levels of the Digital Real

10.2.2023
The Central Bank of Brazil will focus its first digital real tests on determining the levels of privacy and security that can be achieved with the proposed central bank digital currency (CBDC) infrastructure. The tests will be conducted later this year and will set up a simplified operation...

China’s 180M digital yuan airdrop, Devastation in Turkey, Laos’ CBDC: Asia Express

9.2.2023
Our weekly roundup of news from East Asia curates the industry’s most important developments. China airdrops 180 million digital yuan to celebrate Lunar New Year According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million...

Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power

9.2.2023
According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three...

Here's Why Cardano's New Stablecoin Could Be a Game Changer

9.2.2023
Read More: Here's Why Cardano's New Stablecoin Could Be a Game Changer

Digital Gold Traded for Digital Rubles by Russia’s Rosbank

9.2.2023
Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets and the need for digital ruble payments, the banking...

5,000 Merchants in India Now Accept Payments in Digital Rupee: Deputy Governor

9.2.2023
5,000 merchants and 50,000 users are now participating in India’s CBDC pilot project, the RBI’s deputy governor has said, noting that the central bank intends to proceed with the project slowly to avoid unwanted fallouts. Rabi Sankar, Deputy Governor at Reserve Bank of India (RBI), announced...

Today in Crypto: Brave Reveals Solana Dapp Support, Revolut Announces Crypto Staking Support, Binance Full Audit is ‘Some Way Off’

8.2.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________... Read More: Today in Crypto: Brave Reveals Solana Dapp Support, Revolut Announces Crypto Staking Support, Binance Full Audit is ‘Some...

India in ‘no hurry’ for CBDC as digital rupee pilot onboards 50k users

8.2.2023
The central bank of India wants to proceed with CBDC testing in the smoothest way possible, deputy governor Rabi Sankar said

Russia’s Gazprombank recommends slow CBDC rollout fearing loss of income

8.2.2023
Gazprombank, a subsidiary of a state-owned energy corporation, which participates in Russia’s CBDC initiative, fears losing a part of its income as the digital ruble replaces traditional fiat currency

Nouriel ‘Dr. Doom’ Roubini Warns About Demise of US Dollar

8.2.2023
Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new technologies like central bank digital currencies...