Tag Archives: CBDC

The Bank of Thailand (BOT) has revealed that it will delay the testing phase of its central bank digital currency (CBDC) until late 2022. Thailand Reschedules CBDC Test Reporting the postponement, Reuters noted that Thailand plans to use the national digital currency as an alternative payment option to cash. Although the central bank did not state the reason for the delay, it still intends to use the pilot project to evaluate the use of a CDBC to complement cash transactions...

The European Central Bank (ECB) published a paper on ‘Central Bank Digital Currencies'. The European Central Bank (ECB) has published a paper on ‘Central Bank Digital Currencies‚ recently. In July 2021 the #ECB decided to launch a two-year investigation phase into a #digitaleuro project, starting on 1 October 2021. The expectation that #CBDCs will eventually be issued reflects the benefits of maintaining #centralbank #money in a world where...

Despite the problems, Ripple has not given up on its mission to become a significant player in the global payments industry, and even though things are not going so well with the United States, one country is looking at the company as the best option to develop a domestic currency based precisely on U.S. dollars: Palau. According to a Press Release shared by Ripple, Palau chose the XRP Ledger to create digital dollars to circulate internally in the country. The idea, Ripple...

Narendra Modi – the Prime Minister of India – urged democratic countries to work together and design a comprehensive regulatory framework for cryptocurrencies. Without it, the asset class can be employed unlawfully and can even spoil the younger generations, he added. Regulations Are Necessary In a recent appearance at the Sydney Dialogue, India’s leader highlighted the importance of implementing regulatory policies in the digital asset industry. He opined that the process...

Peru is joining the list of Latin American countries that are actively working on the development of a CBDC. In a panel on economic institutions organized yesterday during the Annual Conference of Executives (CADE), the president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, explained that the country is making progress in the creation of a digital monetary system that will make it possible to meet the challenges arising in the financial world. Peru Wants a CBDC...

Jon Cunliffe – Deputy Governor at the Bank of England – recently asserted that the risks cryptocurrencies pose to the financial sector are drawing closer. He urged regulators to take action before such an economic threat can manifest in traditional markets. Crypto Threatening The Financial Industry? The governor aired his thoughts in conversation with BBC’s Today Programme on Monday. He feared that the volatility of cryptocurrency markets could start to spill over into...

Fabio Panetta – Member of the Executive Board of the European Central Bank – revealed that the digital version of the euro might become a legal tender inside the European zone. Digital Euro ‘Should Not Be Taken for Granted’ As Bloomberg reported, the Italian economist and member at the ECB – Fabio Panetta – hinted about the initiative during a panel discussion in Helsinki, Finland. He asserted that if the European Central Bank proceeds with its efforts of launching a digital...

The number of digital yuan wallets in China has reportedly surged to 140 million, as 10 million of them are corporate accounts. Transactions in e-CNY reached 62 billion yuan, or $9.7 billion. Seven Times More Than in June When speaking of creating a digital version of a national currency, China’s efforts are among the most advanced globally. In recent months, the most-populated nation has launched numerous campaigns aiming to popularize the e-yuan among the locals. Following...

Neues Buch über den digitalen Euro Am 14. Juli 2021 stellte die Europäische Zentralbank EZB den digitalen Euro offiziell vor. In einem neuen Buch mit dem Titel „Der digitale Euro“ geht die UNO-Denkfabrik Diplomatic Council der Frage nach der Zukunft des europäischen Digitalgeldes nach. Hierzu heisst es: „Die Ankündigung erfolgte klammheimlich, mitten in der Corona-Pandemie, in der Urlaubszeit und während der Fussball-EM, um keine Aufmerksamkeit...

While the talks of central bank digital currencies have been on the table for a few years now, few countries actually took the steps to issue one. Nigeria, in turn, following extensive research and development, is finally ready to unveil the eNaira. ‘Same Naira, More Possibilities’ In a press release syndicated through mass media but issued on the official website of Nigeria’s Central Bank, the Director of Corporate Communications, Osita Nwanisobi, revealed that the eNaira...