Tag Archives: CBDC

Mercado Bitcoin – the largest cryptocurrency exchange in Brazil – will reportedly participate in the country’s pilot project to launch a digital real. The central bank intends to issue such a financial product in 2024. The List of Contributors As reported by a local media outlet, Banco Central do Brasil has authorized Mercado Bitcoin to take part in the CBDC development. Speaking on the matter was Fabricio Tota – director of new business at the exchange: “Our participation...

The Bank of England is progressing with its Britcoin digital currency project as it released results from the Rosalind project, which started in July 2022. As the idea of making cash more decentralized continues to grow in popularity, the CBDC has also been an up-and-coming project in different countries. Britcoin, the name for the Bank of England (BoE) digital currency, is also closer to being launched. The digital currency, which is to be backed by the British Pound, is aimed at...

Central Bank Digital Currencies (CBDCs) are slowly becoming a reality. The initial hype may have faded, but to crypto advocates’ disdain, these digitized versions of legal tenders appear to be inevitable. So far, 100 countries are reported to be exploring the concept in some form or the other. Despite not yet being rolled out full-fledged, CBDCs have managed to attract numerous narratives. Social Experiment? Project Rosalind – a central bank digital currency (CBDC) initiative...

Following a successful Project Rosalind CBDC test, the BoE is making progress with developing and launching a digital pound. The Bank of England (BoE) is moving closer to launching its Central Bank Digital Currency (CBDC) after its long test project on the potential benefits of the technology. The BoE launched Project Rosalind last year to help decide whether to float a CBDC. The BoE undertook the CBDC project in collaboration with the Bank of International Settlements (BIS) to...

The potential issuance of fiat currency in digital form has garnered global attention, with various jurisdictions exploring the concept. The EU, the US, and the UK are among those actively considering the implementation of a CBDC.  A leaked draft of the proposed Digital Euro Bill, set to be proposed by the European Commission on June 28, reveals several significant provisions that aim to shape the future of the Central Bank Digital Currency (CBDC). The draft bill, seen by CoinDesk,...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Republican Senator from Texas Ted Cruz says he doesn’t want a digital dollar or any central bank digital currencies (CBDCs) entering the fray. He believes they’ll bring about an end to bitcoin, a cryptocurrency he has a lot of respect and admiration for. Ted Cruz Is Confident a CBDC Would Hurt BTC In a recent...

The ECB has finalized its digital euro prototype scheme as it mulls whether to roll out the government-backed token.  The European Central Bank (ECB) has finalized a digital euro prototype ahead of a development decision. Later this year, the leading central bank would decide whether to develop the fiat euro as a digital variant. According to a Friday report, the ECB examined distributed ledger technology and smart contracts as prime components of a potential digital euro. However, the...

The Brazil Central Bank Digital Currency will initially focus on wholesale interbank transaction payment solutions. Banco Central do Brasil (the Central Bank of Brazil) plans to include more participants in its digital currency scheme. The list, released by the bank on May 24, includes the names of all the participants with whom the CBDC digital real is set to launch. The final list of 14 participants was compiled from 36 bids submitted by individuals and collaborating entities, totaling...

Ramping up its CBDC game, Ripple announced the launch of a new platform for central banks, governments, and financial institutions to issue their own central bank digital currency. Dubbed ‘Ripple CBDC Platform,’ the offering will leverage the same blockchain technology used on the XRP Ledger (XRPL). The platform is developed to address multiple use cases, such as wholesale and retail CBDCs on a private ledger or issuing a stablecoin. Ripple CBDC Platform According to the San...

The CBDC Private Ledger, according to Ripple, will handle tens of thousands of transactions per second. Popular blockchain payments firm Ripple Labs Inc is set to launch its own Central Bank Digital Currency (CBDC) platform, which will allow central banks, governments, and financial institutions to issue digital currencies. The news comes shortly after Ripple and the Central Bank of Montenegro agreed to collaborate on the development of a pilot project for a national digital currency....