The Bank of Jamaica (BOJ) recently wrapped up the pilot of its central bank digital currency (CBDC) and says it’s on track for a nationwide rollout in the first quarter of 2022, according to a Cointelegraph report Monday (Jan. 3). BOJ wrapped up its eight-month...
If you look deeper at the news of India’s central bank accepting a “basic” digital rupee as “a safe, robust, and convenient alternative to physical cash,” something jumps out of the “Report on Trends and Progress of Banking in India 2020-21,” released on Tuesday (Dec....
Central bank digital currencies (CBDCs) could ultimately mean good things for the crypto industry, the CEO of the crypto exchange Binance said Tuesday (Dec. 21). “Overall, I believe CBDCs are very positive for the crypto industry, but with a few caveats,” Changpeng Zhao wrote on...
The Banque de France announced Thursday (Dec. 16) that it has successfully finished the first stage of its plan to create a wholesale central bank digital currency (CBDC). The French central bank has long been a proponent of European Union-wide CBDCs, pitching its own efforts...
The Ukrainian commercial bank TASCOMBANK is working with the FinTech Bitt to issue an electronic hryvnia — the country’s national currency — on the Stellar network. The bank announced the pilot program Tuesday (Dec. 14), saying it would involve a test of the electronic currency...
China is now working on connecting its nearly finished central bank digital currency (CBDC) to Hong Kong’s Fast Payment System. Announced by the head of China’s digital yuan project in a Thursday (Dec. 9) seminar, the pilot program between the People’s Bank of China (PBoC)...
Cybersecurity and the risk of cyber fraud pose challenges to the successful rollout of a central bank digital currency (CBDC), Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday (Dec. 8), per a LiveMint report. “[The] main concern comes from the angle of...
A battle seems to be brewing within the crypto arena – one that pits central banks against the bitcoins (and the other cryptocurrencies) of the world. The latest illustration comes via reports that Indonesia’s central bank is considering using central bank digital currencies (CBDCs) as...
An innovation hub will help the U.S. central banking system advance the process of implementing digital currency, Federal Reserve Chair Jerome Powell said, according to a Monday (Nov. 29) press release. The New York Federal Reserve debuted its innovation hub on Monday (Nov. 29). In...
