Nigeria’s eNaira digital currency is proving popular, although some critics say the population’s mistrust of the government might hinder its progress, the Financial Times (FT) reported. The central bank digital currency (CBDC) was launched Oct. 25. More than half of Nigerians don’t have a formal...
European Central Bank executive board member Fabio Panetta promised that the digital euro will be appealing to users and won’t be overwhelmed by other private payment types, according to a Bloomberg report on Friday (Nov. 5). ECB is working with the European Commission on “a...
Officials in China said the use of the digital yuan — or e-CNY — has surged to 140 million individual accounts and 10 million business accounts, Bloomberg reported. Mu Changchun, head of the Digital Currency Institute at the People’s Bank of China (PBOC), said per...
As central bank digital currencies (CBDCs) grow in popularity, the world’s payments leaders are making preparations. On a recent earnings call, Mastercard CEO Michael Miebach discussed the company’s plans to support CBDCs, Securites.io noted in a Tuesday (Nov. 2) report. “We are saying at this...
Around the world, major economies have been moving, in some cases quickly, to embrace and launch central bank digital currencies (CBDCs). And yet, the United States, relatively speaking, lags the pack. News came this past week that India is moving ahead to explore its version...
The European Central Bank (ECB) has announced the 30 people to be on its Market Advisory Group for its digital euro project, according to a press release. The group will advise the ECB on the design and distribution of a possible digital euro, the release...
Nigeria’s eNaira digital currency will roll out officially on Monday (Oct. 25), according to Reuters. The news comes after Nigeria earlier this year banned banks from dealing in or facilitating in crypto transactions. The country will be using Bitt Inc, based in Barbados, as...
In the United States, a central bank digital currency may be on the horizon — but not with the blockchain. Which begs the question: just how will the digital dollar be issued and maintained, and how will the ecosystem itself be created? In news this...
The 13 principles for central bank digital currencies (CBDCs) released this week by G-7 finance officials show that, even as none of those countries have issued their own digital currencies, caution seems to reign. The G7 exists as an inter-governmental group comprised of Canada, France,...
