Tagged: cbdcs

April 16, 2024 @ 11:39 am By Omar Faridi  |  

Americans are already choosing digital payments over traditional payment methods. Now, as digital currencies such as CBDCs gain interest around the world – as seen even more from the recent SWIFT announcement – demand stateside may create bottom-up pressure on U.S. banks – despite the… Read More

April 6, 2024 @ 12:09 pm By Omar Faridi  |  

Swift announced the findings of the second phase of industry-wide sandbox testing on its central bank digital currency (CBDC) interlinking solution, with the results showing that its connector can enable financial institutions to carry out a wide range of financial transactions using CBDCs and other… Read More

March 30, 2024 @ 5:34 pm By Omar Faridi  |  

Digital money, when carefully managed, can potentially aid Pacific Island growth and equality, according to an update shared by the IMF. A cautious step-by-step approach would help the region “explore new technologies effectively to deliver economic and social gains while managing risks,” the International Monetary… Read More

March 19, 2024 @ 1:56 am By Omar Faridi  |  

The Hong Kong Monetary Authority (HKMA) has recently introduced Phase 2 of the e-HKD Pilot Program. The Hong Kong Monetary Authority (HKMA) confirmed the launch of Phase 2 of the e-HKD Pilot Program, with a view to further “exploring innovative use cases for an e-HKD… Read More

March 8, 2024 @ 4:34 pm By Omar Faridi  |  

The Hong Kong Monetary Authority (HKMA) announced the commencement of Project Ensemble, a new wholesale central bank digital currency (wCBDC) project to render support to the development of the tokenization market in Hong Kong. The new project will seek “to explore innovative financial market infrastructure… Read More

February 13, 2024 @ 4:09 pm By JD Alois  |  

  The Cambridge Centre for Alternative Finance (CCAF)  has revealed the Cambridge Digital Money Dashboard (CDMD). The Centre is part of the Cambridge Judge Business School, University of Cambridge. CCAF is the leading independent research group covering the world of Fintech, including digital assets. The… Read More

February 12, 2024 @ 6:08 pm By Omar Faridi  |  

India is reportedly moving forward with the next few stages of its planned digital rupee pilot. This would add programmability and offline payment capability, according to a recent update. Like most major economies across the globe, India has been testing a retail CBDC or central… Read More

November 29, 2023 @ 8:05 am By Omar Faridi  |  

The BIS published the concluding report of Project Tourbillon, which reportedly demonstrates that “cash-like anonymity” is possible in a retail central bank digital currency (CBDC). The project, developed by the BIS Innovation Hub Swiss Centre, has reportedly tested the concept of payer anonymity, which “provides… Read More

November 19, 2023 @ 12:57 pm By Omar Faridi  |  

At the XI Congress of Financiers of Kazakhstan, a new central bank digital currency (CBDC)-linked debit card – the Digital Tenge Card – was presented. As a part of the 30th anniversary celebration of the national currency, the first payment transaction was “made at the… Read More

November 17, 2023 @ 4:58 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) unveiled three initiatives to ensure the safe and innovative use of digital money in Singapore, namely: a blueprint outlining the infrastructure required for a digital Singapore dollar; expanding digital money trials; and a plan to issue a “live” central… Read More

November 6, 2023 @ 12:48 pm By Omar Faridi  |  

The partnership will see the National Bank of Georgia and Ripple jointly plan the execution and delivery of the pilot program using the Ripple CBDC Platform. The National Bank of Georgia (NBG) has chosen Ripple, the enterprise blockchain and crypto solutions provider, as the official… Read More

September 12, 2023 @ 7:55 am By Omar Faridi  |  

  The Hong Kong Monetary Authority (HKMA) has published its joint report on Project Sela. The initiative focused on the cybersecurity, technical, and policy aspects of a retail CBDC implementation. The HKMA is working with the Bank of Israel (BOI) and the Bank for International… Read More

August 9, 2023 @ 12:55 pm By Omar Faridi  |  

The Digital Dollar Project announced the completion of a pilot study conducted in collaboration with The Western Union Company, BDO Unibank, Inc. (BDO Unibank) in the Philippines, and support from Accenture. This collaboration represents the Digital Dollar Project’s latest private sector efforts “in support of… Read More

August 3, 2023 @ 11:36 am By Omar Faridi  |  

Emtech, a provider of central banking infrastructure, has launched its Central Bank Digital Currency (CBDC) Innovation kit. According to the firm, the kit aims to support Fintech platforms and various other financial service providers that are looking to experiment with solutions based on virtual currencies… Read More

July 23, 2023 @ 2:34 pm By Omar Faridi  |  

The Banque de France recently shared key lessons from its wholesale CBDC experiments using distributed ledger technologies (DLTs). Following the publication of an initial report in 20211, the Banque de France is now “releasing a new set of conclusions and lessons learned, covering the first… Read More

July 13, 2023 @ 12:30 pm By Omar Faridi  |  

Brazil’s CBDC (or central bank digital currency) codebase could potentially freeze or even reduce funds. This, according to an analysis by a blockchain developer. According to a reports, a blockchain/DLT developer found certain functions that could potentially allow a centralized entity to freeze payments or… Read More

July 13, 2023 @ 7:44 am By Omar Faridi  |  

A study from Juniper Research, the researchers focused on emerging payments, have found that the value of payment transactions powered by stablecoins “will exceed $187 billion globally by 2028, up from $53 billion in 2023.” The study found that stablecoins are “making rapid progress in… Read More

July 8, 2023 @ 10:45 am By Omar Faridi  |  

The Bank for International Settlements (BIS) recently shared its seven-point plan developed to assist nations with preventing cybersecurity incidents/hacks as a response to the new wave of digital national currencies (or CBDCs) currently under development. Approximately 130 different countries are currently exploring the feasibility of… Read More

July 6, 2023 @ 10:07 pm By Omar Faridi  |  

DBS (SGX:D05) announced it is one of the first foreign banks in China to launch an e-CNY merchant collection solution and complete an e-CNY transaction for a client. The solution empowers corporate clients of DBS China “to collect payments from their customers in e-CNY, China’s… Read More

July 6, 2023 @ 7:40 am By Omar Faridi  |  

Nuggets, a self-sovereign identity, and payment platform, recently announced that it is working with the Bank of England on a technology experiment to design a possible privacy and identity layer for the UK’s Central Bank Digital Currency (CBDC). If a CBDC – also known as… Read More