Iran to launch public CBDC pilot in June
Unlike other types of electronic money in Iran, the digital rial doesn’t require interbank settlement to transfer funds between the buyer and the seller. Go to Source
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Ripple partners with National Bank of Georgia to digitize economy
Ripple continues to deepen its CBDC collaboration with the Republic of Georgia by exploring ways to digitize the local economy. Go to Source
Bitcoin price hits $70K as spot and BTC ETF buying surges
Analysts believe Bitcoin price is en route to new highs now that the recent consolidation phase has come to an end. Go to Source
Gold Prices Break Record Highs, Silver Also Rallies
Gold has continued rising in financial markets, hitting new all-time high (ATH) prices against the U.S. dollar. The precious metal’s price rose to levels close to $2,450 per ounce this Monday, fueled by geopolitical tensions and the expectations of a Federal Reserve dovish move on interest rates. Other motives propelling gold prices would be the … Read more
Philippines begins Peso-backed stablecoin sandbox testing
The test aims to evaluate the PHPC stablecoin’s real-world performance, its impact on the local fiat ecosystem, and its potential uses, including payments, trading and DeFi applications. Go to Source
Cryptocurrency Imports in Brazil Break Records and Begin to Affect Trade Balances
Purchases from foreign cryptocurrency exchanges, considered imports, have broken records in Brazil, putting some weight into the nation’s trade balance. During the last 12 months, cryptocurrency purchases reached $14.84 billion, after reaching $12.3 billion last year. Likewise, crypto imports reached $4.69 billion in Q1 2024, rising by 118% compared to the numbers registered in Q1 … Read more
Central banks must revise business model, embrace CBDCs — ECB member
Bundesbank’s president Joachim Nagel urged central banks to revamp their business models and adopt digital currencies during the BIS Innovation Summit. Go to Source
Nigeria restricts fintech onboarding to stop KYC-evading crypto investors
Nigerian fintech firms OPay, Kuda Bank, Moniepoint and PalmPay were directed to pause the creation of new accounts amid an ongoing audit of their KYC processes. Go to Source
Chinese ‘Crypto Dad’ faces government investigation
Yao Qian, the first director of CBDC development at China’s central bank, is reportedly under investigation for suspected law violations. Go to Source
Jerome Powell Clarifies: US Far From Introducing a Central Bank Digital Currency
Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a significant distance from such a possibility. He assured that any potential CBDC would not be designed for … Read more