A study analyzing the international use of central bank digital currencies (CBDCs) and the underlying distributed ledger technologies (DLTs) shows promise for cross-border interoperability among countries with varying and emerging digital ecosystems. Launched about eight months ago by financial messaging system SWIFT, in partnership with...
A digital euro might be based on blockchain technology, but it will require middlemen to validate transactions, at least to begin with. The core purpose of blockchain cryptocurrency, as described in the Bitcoin Whitepaper that launched the technology, was to solve the double-spend problem in...
The Bank for International Settlements (BIS) says it has carried out the first pilot of a central bank digital currency (CBDC) involving “four jurisdictions and real-value transactions.” According to a statement published Tuesday (Sept. 27) on the BIS LinkedIn page, the pilot involved the BIS...
A digital euro isn’t going to replace the United States dollar as the world’s reserve currency and leading international payments currency anytime soon. But it could help weaken it, or even speed its demise. That’s one thing to take away from European Central Bank (ECB)...
The central banks of Sweden and Israel announced Wednesday (Sept. 28) that they will start exploring how central bank digital currencies (CBDCs) can be used for international retail and remittance payments in collaboration with the central bank of Norway and the Bank for International Settlements....
An advisor to the European Central Bank (ECB) is defending the decision to make Amazon one of the five companies to test a digital euro. “The prototyping experiments for the front end are driven by technological considerations,” Jürgen Schaaf said at a panel hosted by...
Fabio Panetta, Member of the Executive Board of the European Central Bank (ECB), has a speech in which he touts the opportunity for central bank digital currencies (CBDCs) to enhance payments. He said there have been numerous disruptions like FinTechs and crypto which have shown...
Nearly a year after its launch in October 2021, Nigeria’s central bank digital currency (CBDC), the eNaira, is beginning to gain traction in the country. Following two recent announcements in the last month, eNaira use cases have been significantly expanded, with Flutterwave and Clickatell both...
Negotiations on a stablecoin regulatory bill last week indicated that the congressional sense of urgency on a U.S. central bank digital currency (CBDC) isn’t very strong. Reports said that negotiations between House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) and its ranking minority member, Patrick...
