The Central Bank of Turkey has tested a digital lira. Like many central banks around the world, the central bank of Turkey (CBT) is exploring if and how it could issue a central bank digital currency (CBDC) as part of the digital lira project. In...
Consumers in China have shown little enthusiasm for their country’s central bank digital currency (CBDC). That’s according to a former official from the People’s Bank of China, whose comments were reported Thursday (Dec. 29) by Reuters, which cited state media outlet Caixin. That official, Xie...
One surprising digital dollar asset had a great 2022, and it wasn’t cryptocurrency. While the past year saw the value of the crypto market shrink to $1.4 trillion from its 2021 high of $3 trillion, governments around the world increasingly experimented with a different form...
The ECB has published an update on its Central Bank Digital Currency project. The report, published on Thursday (Dec. 21), outlines the European Central Bank’s (ECB’s) progress on the investigation phase of the digital euro project, which began in October 2021. It is the second...
A leading U.S. Treasury official says the digital dollar could still be years away. U.S. regulators must first determine whether a central bank digital currency (CBDC) would truly improve real-time interbank payments in terms of speed and cost, Nellie Liang, undersecretary for domestic finance at...
The crypto currency market is increasingly inspiring sovereign central banks to mint national digital fiat. “Digital assets are not on trial. Fraud and organizations are on trial,” said U.S. Sen. Cynthia Lummis during a Senate Banking Committee hearing Wednesday (Dec. 14) on the collapse of...
Brazil’s central bank hopes to launch a digital currency in 2024. That’s according to Central Bank of Brazil President Roberto Campos Neto, who said Tuesday (Dec. 13), per Reuters, the country’s central bank digital currency (CBDC) will debut after a closed pilot with financial institutions...
A group of large banks is preparing to test a shared digital asset settlement platform. According to the announcement, the study is set to take place over the next 12 weeks and will test the working realities of running an interoperable network for central bank...
The Central Bank of Nigeria has redefined ATM withdrawal limits to encourage digital currency usage. In a Tuesday (Dec. 6) press release, the CBN said that the daily maximum customer ATM withdrawal for naira, Nigeria’s currency, is now capped at 20,000 naira ($45). This is...
