BIS marks CBDC pilot as ‘successful’ with $22M transacted
Over $12 million in value was issued in the pilot with commercial and central banks in Hong Kong, Thailand, the UAE and China taking part. Go to Source Powered by WPeMatico
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Russia aims to use CBDC for international settlements with China: Report
Russia is currently in the pilot phase of its CBDC development and is expected to complete the development by early next year. Go to Source Powered by WPeMatico
ECB should have DLT wholesale settlements when the market wants it, official says
Executive board member Fabio Panetta says it would undermine financial stability if the ECB were unprepared to use distributed ledge technology, but that’s the best he can say for it. Go to Source Powered by WPeMatico
Australian pilot CBDC test for eAUD to commence mid-2023: RBA White Paper
The key objectives of the project are to identify and understand innovative business models, use cases, benefits, risks, and operational models for a CBDC in Australia. Go to Source Powered by WPeMatico
Hong Kong to Start Testing Digital Currency in Coming Months
China’s special administrative region of Hong Kong is going to trial а digital version of its dollar as early as this year, in preparation for eventual roll-out. The territory is trying to catch up with those that are already launching central bank digital currencies, including the People’s Republic with its digital yuan project. Trials of … Read more
Iran to begin ‘crypto rial’ CBDC trial despite possible lack of infrastructure: Report
The crypto rial has been in preparation for years; its introduction comes on the heels of the country’s introduction of cryptocurrency for foreign trade. Go to Source Powered by WPeMatico
Hong Kong Monetary Authority provides update on retail CBDC that may become DeFi onramp
The monetary authority is developing a wholesale CBDC separately and earlier; it is looking at prospective retail use cases despite the lack of an “imminent role” for the currency. Go to Source Powered by WPeMatico
China to Expand Digital Yuan Testing in Pilot Cities to Provincial Level
China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping up digitalization efforts this year. Government to Increase Digital Yuan Coverage in 4 Provinces … Read more
China will expand CBDC trials to most populous province: Report
PBoC deputy governor Fan Yifei said expanding e-CNY trials to the provinces of Guangdong, Jiangsu, Hebei and Sichuan would happen “at a proper time.” Go to Source Powered by WPeMatico
White House’s first crypto framework and missed opportunities — Law Decoded, Sept. 12-19
The industry didn’t take the document well, as the policymakers’ focus on security and enforcement is all too visible. Go to Source Powered by WPeMatico