Tokenized government bonds free up liquidity in traditional financial systems
There are a number of benefits associated with tokenized government bonds, yet adoption may take time. Go to Source Powered by WPeMatico
CBDC
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Bank of Japan to Launch Digital Yen Pilot Program Next Year
The Bank of Japan is preparing to run a test trial of its own central bank digital currency (CBDC), the digital yen, with help from three top banks and regional institutions. The pilot program, estimated to last two years, will focus on testing the currency via several transactions, and experimenting with its functionality in environments … Read more
BIS report finds uneven progress, differing motivations in African CBDC adoption
A survey of the continent’s central banks shows optimism about greater efficiency and inclusion, but several drawbacks remain; Nigeria already has an operational retail CBDC. Go to Source Powered by WPeMatico
Bank of Japan to trial digital yen with three megabanks
The Japanese central bank plans to make a decision on whether to issue a digital currency by 2026. Go to Source Powered by WPeMatico
The Reserve Bank of India to launch a retail CBDC pilot in December
The digital rupee is intended as a supplement to the current payment system and not its replacement. Go to Source Powered by WPeMatico
The nightmare continues for Sam Bankman-Fried and FTX — Law Decoded, Nov. 14-21
The founder of FTX provoked the withdrawal of his legal team and now faces the possibility of extradition to the United States. Go to Source Powered by WPeMatico
NY Fed launches 12-week CBDC pilot program with major banks
Banking giants including BNY Mellon, Citi, U.S. Bank, and Wells Fargo will be issuing tokens and settling transactions through simulated central bank reserves as part of the pilot. Go to Source Powered by WPeMatico
St. Kitts and Nevis to Explore Possibility of Making Bitcoin Cash Legal Tender by March 2023
St. Kitts and Nevis will explore the possibility of making bitcoin cash legal tender by March 2023. The statement was made by St. Kitts and Nevis Prime Minister Terrance Drew as part of the Bitcoin Cash 2022 Conference held in the country, declaring that Bitcoin Cash mining activities will also be explored in the same … Read more
Russia’s Digital Ruble Integrated Into Banking App
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be able to join the trials. VTB’s Mobile App to Support Digital Ruble Transfers … Read more
New York Fed collaborates with Singapore MAS to explore CBDCs
A joint effort is aimed at assessing the possible use of wholesale central bank digital currencies in cross-border transactions. Go to Source Powered by WPeMatico