Country-wide Bitcoin adoption a mixed bag for national economies
Country-wide Bitcoin adoption could boost financial inclusion and trade, but challenges like volatility and regulatory hurdles might create mixed economic impacts. Go to Source
CBDC
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Hong Kong CBDC Pilot Enters Phase 2 With New Firms to Advance Digital Currency Use Cases
The Hong Kong Monetary Authority (HKMA) has moved into Phase 2 of its e-HKD pilot program, expanding its exploration into tokenized deposits and e-HKD. With 11 groups of firms selected, the initiative delves into practical applications such as offline payments and asset settlement. The creation of an industry forum aims to solve potential challenges while … Read more
Bank of Canada Redirects Efforts Away From Retail CBDC
The Bank of Canada has announced a strategic shift away from developing a retail Central Bank Digital Currency (CBDC) to focus on broader payments system research and policy development. This decision follows a public consultation in 2023, which revealed significant privacy concerns among Canadians. While the central bank remains open to revisiting the idea of … Read more
Hong Kong’s e-HKD project expands into tokenization, programmability
The Hong Kong Monetary Authority is looking at a potential CBDC from a wide perspective. Go to Source
Bank of Korea to Launch CBDC Payment Trial in Supermarkets
South Korea’s central bank, the Bank of Korea, will soon allow participants to use digital tokens for payments at supermarkets and convenience stores in a central bank digital currency (CBDC) trial. Starting in December, 100,000 participants will be part of this test. Retail partnerships and global initiatives like Project Agora highlight the broader impact of … Read more
Cardano founder to meet Argentina president Javier Milei
In a meeting planned with Argentina president Javier Milei, Charles Hoskinson wants to discuss how blockchain can rewrite global economic and political systems. Go to Source
Global Surge in CBDC Development: 134 Countries Now Exploring Digital Currencies
New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing forward. The U.S. remains lagging behind Europe and … Read more
Australia’s central bank launches 3-year program for wholesale CBDC
RBA Assistant Governor Brad Jones said the potential benefits of a retail CBDC in Australia appear modest or uncertain at present. Go to Source
Blockchain could help UK’s $14.5T payments sector, says trade group
Trade group UK Finance hailed experiments on the Regulated Liability Network as a success but called for further talks with regulators to develop the system. Go to Source
Russian Central Bank Eyes Digital Currency to Overcome Cross-Border Payment Obstacles
Elvira Nabiullina, head of Russia’s central bank, has highlighted challenges in cross-border settlements, including payment issues and falling trade volumes. She emphasized the importance of finding new solutions, such as using digital currencies and cooperating with global partners, to address these issues. Russia Faces Cross-Border Payment Issues Amid Declining Trade Russian Central Bank Governor Elvira … Read more
