France and Singapore pilot cross-border CBDC transactions
The central banks of France and Singapore are working on a digital currency interoperability system supporting multiple global CBDCs. Go to Source Powered by WPeMatico
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China’s central bank worried about stablecoins’ risk to financial systems
While Visa and other major private payments networks see the potential of stablecoins, China’s central bank believes they pose serious risks to global financial systems. Go to Source Powered by WPeMatico
Chinese Bank Employees Told to Entice 300 Customers to Use the Digital Yuan
In mid-May, a report stemming from residents in Shenzhen, China explained that the digital yuan wasn’t seeing widespread participation, which the Chinese government has alluded to in many press releases. Now a handful of China’s state-owned banks have asked staff to recruit 200 to 300 digital yuan users. The banks are also giving away small … Read more
Bank of Jamaica to begin digital currency pilot in August
The Bank of Jamaica is getting ready to begin testing its planned central bank digital currency in collaboration with financial institutions in the country. Go to Source Powered by WPeMatico
Japan’s finance industry awaits clearer picture of digital yen in 2022
The digital yen should be compatible with other CBDCs to counter China’s progress with its digital yuan, one official argued. Go to Source Powered by WPeMatico
Prime Minister of Vietnam Asks Central Bank to Pilot Digital Currency
Pham Minh Chinh, the prime minister of Vietnam, has asked the country’s central bank to conduct a study of cryptocurrency and pilot the implementation of a blockchain-based currency within the next two years. The efforts are part of the Asian country’s new e-government strategy. Cryptocurrency Highlighted in Prime Minister’s Decision Cryptocurrency is one of the … Read more
UK chancellor names CBDC on list of financial reforms for Treasury
“While I believe in the power of new technology, we also need to manage its impact on our economy and society,” said Rishi Sunak. Go to Source Powered by WPeMatico
Beijing subway now accepts digital yuan
Beijing’s rail transit service now accepts digital yuan for subway rides through an integration with the Industrial and Commercial Bank of China. Go to Source Powered by WPeMatico
Spanish Socialist Workers’ Party pens public digital currency initiative
Spain’s oldest active political party is reportedly looking to create a public digital currency. Go to Source Powered by WPeMatico
Deutsche Börse Group Acquires Major Stake in Swiss Firm Crypto Finance AG
On Tuesday, Deutsche Börse Group, marketplace manager for the trading of shares and other securities, explained the company has acquired a major stake in Crypto Finance AG. The move adds to Deutsche Börse’s extension into the cryptocurrency industry in order to provide custody solutions and a “direct entry point for investments.” Deutsche Börse Group to … Read more