Link by link, the fashioning of a global network for central bank digital currencies (CBDCs) proceeds apace. As it continues to grow, it has the potential to simultaneously transform cross-border payments and spur the interoperability of faster payments schemes around the globe. As PYMNTS reported...
Global messaging platform Swift says three central banks are testing its solution for interlinking CBDCs. In the meantime, another 30 financial institutions are experimenting with the solution in a new “sandbox to explore further use cases” for central bank digital currencies (CBDCs), the organization announced...
Israel’s central bank is working on a national digital currency, but it’s unclear if or when a central bank digital currency (CDBC) would roll out. Bank of Israel Governor Amir Yaron said at a conference that his organization is moving ahead with its plans for...
As currency becomes increasingly digitized, more end users are able to reap its benefits, in turn feeding an underlying network effect of increased market participants and inclusion. “There are many technical benefits you have with a digital currency that you just can’t do with traditional...
The push toward central bank digital currencies seems an inexorable one. But among the issues that remain to be sorted out are the parameters of how they are used, where they might be used — and whether there may be limits to it all, especially...
It’s a widely reported data point that 93% of central banks are in at least some stage of deploying — or at least exploring — central bank digital currencies (CBDCs). But a Thursday (Aug. 10) report from the Bank of Canada, the Canadian central bank, seems...
Central bank digital currencies (CBDC) are on pretty much every central bank’s road map. A full 93% of central banks across the globe are in at least some stage of CBDC development, per data from the Bank of International Settlements. And a string of recent announcements...
Could a central bank digital currency (CBDC) help America’s unbanked population? It appears that way, according to a new report by the Digital Dollar Project (DDP). The organization announced Thursday (Aug. 3) it had wrapped a pilot study conducted in collaboration with Western Union, BDO...
Nigeria’s central bank wants more citizens to use its digital currency. To that end, the bank’s acting governor, Folashodun Adebisi Shonubi, tweeted Wednesday (July 26) that the Central Bank of Nigeria (CBN) would amend its eNaira to “ensure an increase in the volume and activity of wallet holders.” CBN...
