Tag Archives: CBDC

The United States has finally joined the bandwagon of countries testing a central bank digital currency (CBDC), Thursday reports revealed.Governor Lael Brainard said during a virtual technology event yesterday that the US Federal Reserve, in collaboration with research teams from Boston Fed and Massachusetts Institute of Technology (MIT), is conducting experiments with a hypothetical digital currency.According to Brainard, both institutions have been researching blockchain technology for...

Top Japanese financial bureaucrat Ryozo Himino thinks that promoting cryptocurrency trading will not necessarily accelerate technological innovation. Rather it will spark increased speculative trading, the regulator said. Himono has, therefore, cautioned against the same.Deregulating Bitcoin & Cryptocurrencies Will Fuel’ Speculative Trading’As per a Reuters article, the Japanese Financial Services Agency boss has shared fresh thoughts regarding his stance on crypto trading practices in...

The Chinese central bank digital currency (CBDC) could be approaching its long-anticipated launch as new reports indicated that multiple local commercial banks have begun conducting trials of a digital wallet application linked to the CBDC.Chinese Banks Test Digital Wallet App For CBDCIn the latest turn of events regarding China’s future digital currency, a Reuters report asserted that several large state-run commercial banks are conducting internal testing of the digital wallet app....

Die Philippinen sind ein südostasiatisches Land im Westpazifik und umfassen mehr als 7.000 Inseln. Wie schon andere Länder in den vergangenen Monaten, zieht jetzt auch die philippinische Zentralbank in Betracht, eine eigene Digitalwährung einzuführen. In einer online Presseerklärung wurde bekanntgegeben, dass ein Ausschuss gegründet wurde, der die mögliche Einführung einer digitalen Währung prüfen wird. Auch die Philippinen gehört nun zu...

Central bank digital currency (CBDC) fever appears to be heating up across the APAC region as The Philippines announces plans to study the possibility of issuing its own sovereign virtual “coin.”Committee to Study Modalities for Possible CBDC IssuanceAccording to a report by Bloomberg on Wednesday (July 29, 2020), the Bangko Sentral ng Pilipinas (BSP) governor, Benjamin Diokno, revealed that the central bank has set up a committee for a potential CBDC project. The group will consider the...

The Bank of Lithuania has officially launched its blockchain-based digital collector coin called LBCOIN. Although bank officials clarified that it’s not a CBDC, they suggested LBCOIN could eventually lead to releasing a central bank digital currency.Bank Of Lithuania’s Digital Collector CoinAs CryptoPotato reported recently, the central bank of the Baltic country had finished with the development stages of the LBCOIN and was planning to initiate a pre-sale. With some delays, the Bank of...

The CBDC race is about to heat up again with nations across Asia leading the way in crypto research. Japan is the latest to accelerate progress, joining China and Thailand, which are already well underway with their respective digital currencies.Japan Forms Crypto Research TeamThe Bank of Japan (BoJ) stated on Monday that it has started with the formation of a ‘Digital Currency Group, ’ which will operate under the umbrella of the Payment and Settlement Systems Department. The primary goal of...

The Bank of Thailand (BOT) is ready to deploy its central bank digital currency (CBDC) to local corporations as part of the third phase of the project’s development.BOT Launches Third Phase of its Digital Currency ProjectThailand’s central bank has stepped into the third phase of development of its digital currency, according to The Nation Thailand, which cited BOT assistant governor Vachira Arromdee.BOT has started to use the digital currency for financial transactions with some big...

Bloomberg reports that the People’s Bank of China (PBC) intends to begin testing its central bank digital currency (CBDC) on several platforms operated by the food delivery giant backed by Tencent Holdings – Meituan Dianping.China’s CBDC On A Food Delivery PlatformCiting people familiar with the matter, Bloomberg informs that the large Chinese web-based shopping platform for locally found foods, consumer products, and retail services – Meituan Dianping – has been in contact with the PBC for a...

According to a recent report, Lithuania may be the first nation to launch a central bank-backed digital coin in the eurozone. The country’s central bank plans a pre-sale of twenty-four thousand blockchain-based digital tokens called LBCOINs.Lithuania To Sell 24k Blockchain-based TokensA Reuters report from earlier today informed that the Baltic country has completed the development stages of the LBCOINs and is preparing for the pre-sale next week.Each of the twenty-four thousand...