Samsung is reportedly working with the Bank of Korea on a central bank digital currency (CBDC). The consumer tech firm has signed an agreement known as a memorandum of understanding (MOU) with South Korea’s central bank to conduct technical research on the product, CNBC reported Tuesday (May 16). Samsung did...
The way money moves is increasingly digital — and soon, it may even be programmable. It’s one of the proof points coming out of a recently-concluded Visa-led pilot prototyping of Brazil’s blockchain-based Central Bank Digital Currency (CBDC), the Real Digital, which might enable innovative programmatic...
Zimbabwe is debuting a gold-backed digital currency as it battles an inflation crisis. The country’s central bank says the tokens — set to launch Monday (May 8) — will “expand the value-preserving instruments available in the economy,” the Financial Times reported. This was in reference...
A spate of bank runs and controversies over central bank digital currencies (CBDCs) may further pave the way for tokenized deposits. The issues surrounding CBDCs are highlighted in a paper issued late last week by economist Ignazio Angeloni and prepared by the Economic Governance and...
American presidential candidates from both sides of the aisle are down on the digital dollar. The U.S. has not unveiled concrete plans for a central bank digital currency (CBDC), and officials have expressed caution about doing so. However, that hasn’t stopped Republicans and at least...
It’s unlikely that the benefits of a central bank digital currency (CBDC) would be greater than the potential risks. So said Federal Reserve Governor Michelle W. Bowman on Tuesday (April 18) during a speech at Georgetown University. “From my perspective, there could be some promise...
Montenegro has joined dozens of nations around the world in pursuing a digital currency. The Central Bank of Montenegro (CBCG) is working with cryptocurrency and blockchain firm Ripple to launch a central bank digital currency (CBDC), according to a Tuesday (April 11) press release. “Through...
The Digital Currency Monetary Authority has unveiled a digital coin designed to speed cross-border transactions. Introduced Monday (April 10) at the spring meeting of the International Monetary Fund, the authority’s Universal Monetary Unit (UMU) is an international version of a central bank digital currency (CBDC)....
England’s central bank has reportedly begun hiring workers to develop its digital currency. The Bank of England (BOE) wants to create a team of up to 30 people to oversee its central bank digital currency (CBDC) project, according to a Saturday (April 8) report by...
