About 50 countries are in the development, pilot or launch phase of a central bank digital currency (CBDC), according to Josh Lipsky, senior director at the Atlantic Council’s GeoEconomics Center. That means about half of the countries working on a digital currency are well ahead...
Commercial banks are calling a Fed-issued digital dollar an existential business threat, but they seem to be missing the point. “The banks really should not see this as a threat to what they’re doing,” Co-Pierre Georg, a professor of financial stability studies at the University...
Nigerian lenders have been putting up roadblocks against using the country’s digital currency, concerned about loss of revenue from traditional banking services, Central Bank of Nigeria Governor Godwin Emefiele said Tuesday (July 19). The central bank has said only around 700,000 customers made an e-Naira...
Banks’ fears that a digital dollar would cost them depositors — and even make financial crises more severe — are overblown, according to a new Treasury Department report. Actually, a U.S. central bank digital currency (CBDC) could strengthen financial stability, according to the Office of...
The European Central Bank (ECB), like the Federal Reserve, the Bank of England and other central banks, is working on different projects to develop a central bank digital currency (CBDC). While most central banks haven’t decided yet whether issuing a retail CBDC is a desirable...
A new Treasury Department report argues that banks’ fears that a digital dollar would lead to the loss of depositors and even bank runs is overblown. A U.S. central bank digital currency (CBDC) could strengthen financial stability, according to a research paper issued on Tuesday...
Banque de France (BDF) Governor François Villeroy de Galhau said the BDF has kicked off the second phase of experimentation into a wholesale central bank digital currency (CBDC), which could be used to streamline domestic and cross-border transactions between banks. In a speech announcing the...
Bank of England (BoE) Deputy Governor Jon Cunliffe said Wednesday (July 6) during a panel discussion that any proposed digital pound would likely be managed through some sort of account rather than working like cash or banknotes, Bloomberg reported. Cunliffe, who is overseeing the bank’s...
Most of the central banks in western countries have formally adopted a neutral position when it comes to the decision of whether to issue a retail Central Bank Digital Currency (CBDC). The Federal Reserve, the Bank of England and the European Central Bank (ECB), just...
