Tag Archives: CBDC

Crypto industry experts have been discussing Tether and its potential to become the dollar-pegged defacto central bank digital currency of the world. The comments come in response to Cantor Fitzgerald CEO Howard Lutnick, who told CNBC earlier this week: “I’m a big fan of this stablecoin called Tether…I hold their treasuries. So I keep their treasuries, and they have a lot of treasuries. They’re over $90 billion now, so I’m a big fan of Tether.” Cantor Fitzgerald is a global...

Latin America has identified that regulated, blockchain-based financial services will soon be the order of the day. The world of finance, as we have it today, has changed drastically, and stablecoins and tokenized data may be at the center of this change. So much so, that what used to be a difficult task for businesses and private individuals, especially in international payments and settlements, has now become significantly easier. For clarity, transactions worth over $7 trillion were...

The Republican presidential debate discussed several issues including regulation to protect the sector as well as safeguarding crypto users. The Republican presidential debate in Tuscaloosa, Alabama, on Wednesday, delved into cryptocurrency policies and regulation. Vivek Ramaswamy, who stood out for integrating crypto into his campaign, did not hesitate to address the industry’s challenges. In response to a query about his crypto policy, Ramaswamy referenced the recent legal turmoil...

South Korea has long been recognized for its robust blockchain and crypto community. Crypto traders in South Korea have recently emerged as key players, wielding considerable influence during the latest Bitcoin (BTC) rally that has seen the digital currency surge by more than 50%, according to reports. The Rise of the South Korean Won Over the Dollar Recent data compiled by CCData shows that the South Korean won surpassed the US dollar to become the largest fiat trading pair in the crypto...

Although Bitcoin has outperformed XRP in 2023, there is the chance that XRP could follow in Bitcoin’s footsteps for a December bull run. Bitcoin has had a relatively good year, returning more than 144% to investors since January. The king coin has also climbed nearly 14% in the past month and about 10% since December 1st. Currently trading above $42,000 according to CoinMarketCap data, Bitcoin has gained almost 2% in the last 24 hours and seems to be on track to end the year impressively....

Algorand entered the Indian market earlier this year with the launch of the AlgoBharat Project. One of the first collaborations was formed with the Self-Employed Women’s Association (SEWA).  Blockchain protocol Algorand (ALGO) has announced its expansion into India through major collaborations with prominent organizations including NASSCOM, TiE Bangalore, and the Mann Deshi Foundation. Algorand’s Impact Strengthened by New Collaboration Under collaboration with NASSCOM, Algorand aims to...

Canadians are overwhelmingly opposed to their central bank researching and issuing a digital loonie, according to newly released survey results from the Bank of Canada. The report found that citizens and stakeholders are worried that the technology could violate their financial privacy, and wouldn’t be their payment method of choice compared to existing options. Why Canadians Don’t Like CBDCs Released on Wednesday, the report dissected results from a public consultation on...

The retiring MAS director believes the future monetary system will revolve around CBDCs, tokenized bank liabilities, and stablecoins. The Director of the Monetary Authority of Singapore (MAS), Ravi Menon, has emphasized that private cryptocurrencies have no future. Menon shared his thoughts as a panelist at an event jointly hosted by the Hong Kong Monetary Authority and the Bank for International Settlements. Earlier, Mr Menon, who spearheaded the fintech revolution in Singapore, announced...

In a move to modernize its financial infrastructure, South Korea is set to embark on a pioneering project involving digital currency. Commencing in the fourth quarter of 2024, the nation will start a pilot program involving the participation of 100,000 citizens, signifying a significant stride towards the nationwide implementation of digital currencies. South Korea to Pilot Digital Currency with 100,000 Citizens In an upcoming pilot program jointly managed by the Bank of...

The Bank of Korea will be looking to use the pilot stage of its CBDC to determine things such as acceptability and ease of use. South Korea, through its apex bank – The Bank of Korea (BOK) – has revealed its plans to begin testing its central bank digital currency (CBDC) in 2024. A local news outlet Korea Times confirmed the report, saying that the testing will begin either by September or October, running for three months. The report also claimed that South Korea will allow 100,000...