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The Hong Kong Monetary Authority and the BIS Innovation Hub cooperated on a unique CBDC design that reflects the realities of money issuing in the special administrative region. Go to Source Powered by WPeMatico
Eswatini recently became the latest African country to jump on the central bank digital currency (CBDC) bandwagon after its central bank selected Giesecke Devrient, a Germany-based technology firm, as its partner. An agreement signed by both parties aims to enable them to deepen their “understanding of the practicalities of implementing a CBDC in Eswatini.” Retail … Read more
Experts from an economic institute in China have circulated the idea of creating a blockchain-powered digital currency that could lower Asia’s reliance on the greenback. The initiative comes against the backdrop of an expanding digital yuan pilot, and after recent trials of cross-border payments with state-issued digital currencies in the region. China Suggests Minting Asia-Wide … Read more
The U.S. and the world benefit from the primacy of the U.S. dollar in the world economy, but it is stablecoin, not a CBDC, that will enhance the fiat’s place, according to Waller. Go to Source Powered by WPeMatico
Spending with China’s state-issued digital currency has surpassed 100 billion yuan, close to $14 billion, by the end of August, the country’s monetary authority revealed. More than 5 million merchants now accept the digital yuan in 15 Chinese regions as Beijing continues to expand the pilot areas. People’s Bank of China Reports 360 Million Digital … Read more
The proposed distributed ledger technology-backed “Asian yuan” token would supposedly help reduce Asia’s dependence on the U.S. dollar for international business. Go to Source Powered by WPeMatico
The largest CBDC pilot in the world is going to expand on citizen payments and cross-border operations with Hong Kong. Go to Source Powered by WPeMatico
India’s Reserve Bank outlined the pros and cons of a digital rupee as it looks to raise awareness around its CBDC project. Go to Source Powered by WPeMatico
An analyst at the Bank of Canada has written a paper that identifies recurring patterns in CBDC models and how those patterns impact a list of performance criteria. Go to Source Powered by WPeMatico
The Bank of Namibia recently said it has brought virtual assets and virtual asset service providers under its fintech innovations regulatory framework, and that it plans to amend applicable laws and regulations. According to the central bank’s governor, there is an ongoing “battle between regulated and unregulated money on the one hand and sovereign versus … Read more