Wall Street lenders want the U.S. government to slow down on their plans for a digital dollar, Bloomberg reported Monday (May 23). They think a virtual currency could end up draining “hundreds of billions of dollars” from the banking system. There’s no official plan in...
A digital euro could be as little as four years off, according to a top European Union official. And when an EU central bank digital currency (CBDC) comes out, it will have the backing of the European Central Bank (ECB) from Day One, according to...
SWIFT, the global provider of financial messaging services, is looking at tests to link various central bank digital currency (CBDC) networks for cross-border transactions, a report said Saturday. SWIFT has tapped Capgemini, the French information technology services and consulting company, to help with this. According...
Fabio Panetta, a member of the European Central Bank’s (ECB) executive board, said Monday (May 16) that a digital euro could become a reality within the next four years, calling it a necessary step toward continued economic growth and strength. “As we face the most...
The Central Bank of Nigeria (CBN) became the latest governmental body to allow bill payments using digital currency when it approved the use of the upgraded version of its central bank digital currency (CBDC), eNaira, according to a Vanguard report Monday (May 9). CBN said...
There have been countless discussions, and more than a few arguments, for and against the need for a U.S. central bank digital currency (CBDC). What’s been missing, to a large degree, is analysis about whether the general public actually wants a CBDC, or if they...
Nine out of 10 central banks surveyed by the Bank for International Settlements (BIS) said that they are at least exploring a central bank digital currency (CBDC), and half are actively developing a digital version of their fiat money. Those banks represent 90% of the...
Ninety percent of the central banks surveyed by the Bank for International Settlements are exploring the creation a central bank digital currency (CBDC). In addition, about two-thirds of the 81 banks surveyed, representing 90% of the world’s economy, said they are developing or actively experimenting...
EMTECH, a central bank digital currency (CBDC) infrastructure provider, has collaborated with HaitiPay to demo its first CBDC and FinTech proof of concept. According to a press release Thursday (May 5), both companies are led by Haitian women. Their project constituted the first functional test...
