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...
Russia could reportedly begin testing a digital ruble before the summer’s end. Lawmakers in the country, whose payment systems have been hamstrung since last year due to its war with Ukraine, approved the creation of a digital currency on Wednesday (July 19), according to a report by Bloomberg...
As you read this, the very nature of money is being interrogated and experimentally reshaped. “There’s a huge global trend going on right now into exploring the intricacies, complexities, difficulties and benefits of leveraging the properties of DLT [decentralized ledger technology] for the financial system,”...
A new Bank of International Settlements (BIS) survey shows the increasing popularity of central bank digital currencies. The survey, released Monday (July 10), found that the share of central banks involved in some sort of central bank digital currency (CBDC) project rose to 93%, while uncertainty about short-term CBDC issuance...
DBS has launched a digital yuan (e-CNY) merchant collection solution and completed its first e-CNY transaction for a client. The Singapore-headquartered financial services group’s DBS China can now help its corporate clients collect payments in e-CNY, which is China’s central bank digital currency (CBDC), with automated settlement, DBS...
A digital dollar may be on the horizon — or at least, it’s feasible. After a 12-week project, the Federal Reserve and nine marquee names in banking said Thursday (July 6) that a shared, permissioned, blockchain-based network can be the foundation for a new financial infrastructure. In terms of...
The New York Federal Reserve said a digital dollar could improve cross-border and domestic payments. That’s according to the results of a test by the Fed’s New York Innovation Center (NYIC) that examined the feasibility of running an interoperable network — known as a regulated liability network (RLN)...
The European Commission (EC) says a digital euro should complement cash, not replace it. The EC on Wednesday (June 28) published a pair of proposals designed to make sure consumers and businesses can continue to use hard currency, while also creating the framework for a...
The European Union will reportedly publish draft rules governing a digital euro this week. The regulations provide the legal basis for the digital currency, assuming the European Central Bank (ECB) chooses to issue one, Reuters reported Monday (June 26). “This puts at stake the desirable balance...
