It probably isn’t a coincidence that Bank of America’s cryptocurrency team stomped on the brakes regarding its prediction of a digital dollar as soon as 2025 right after the White House released a report on the technical challenges of a U.S. digital dollar. The Bank...
Bank of America strategists are revising an earlier prediction that the U.S. would issue a digital dollar by the end of the decade. According to a Bloomberg News report Friday (Sept. 23), BofA strategists Alkesh Shah and Andrew Moss say earlier projections that the digital...
While the Treasury Department report on “The Future of Money and Payments” was as carefully neutral as ever about the need for and desirability of a digital dollar, a great deal of attention was paid to the topic in the Sept. 16 report, one of...
One striking aspect of the Treasury Department’s Friday (Sept. 16) report, “The Future of Money and Payments” is how little space it dedicated to address banks’ fears about being disintermediated by a central bank digital currency (CBDC). On the one hand, it didn’t really break...
The European Central Bank (ECB) has selected five companies to be involved in a “prototyping exercise” that will be part of its two-year investigation phase into a digital euro, a central bank digital currency (CBDC) that could be used as an alternative to cash. The...
In what will be perceived as a victory for Nigeria’s central bank digital currency (CBDC), FinTech Flutterwave announced Wednesday (Sept. 14) that merchants using its platform can now accept eNaira payments from their customers. Flutterwave merchants can now enable the payment option on their dashboard...
Reports that the U.S. Treasury Department is going to recommend that the government build out a central bank digital currency (CBDC) before deciding if it wants or needs one has the potential to spark a major battle with banks. Banking industry associations of all sizes...
A report that the Treasury Department is going to recommend the creation of a digital dollar right up to the point of deciding whether one is actually in the national interest is effectively recommending the creation of a U.S. central bank digital currency (CBDC). The...
The U.S. Treasury Department plans to advise the federal government to issue a digital dollar, though it will only officially sign off if there’s a government signal that it’s “in the national interest.” The question of national interest will come down to specifics from the...
