Tag Archives: CBDC

The central bank digital currency (CBDC) issued by Banco Central do Brasil is reportedly set to see the light of day in 2024. Its main purpose will be to boost financial services in the country. The South American nation is not the only one willing to introduce such a monetary product. China, Russia, Japan, Australia, the United Kingdom, and many more have also displayed such intentions.  As reported by Reuters, Brazil’s CBDC will be named DREX and is expected to go live next...

The popular podcaster and commentator – Joe Rogan – and the famous musician – Austin Richard Post (better known by his stage name Post Malone) – appear to be against the probable launch of a digital dollar. The former went even further, suggesting that such a financial product would cause a “game over” scenario. The potential creation of central bank digital currencies (CBDCs) has emerged as a highly controversial topic, with many other prominent individuals arguing against...

CoinspeakerRipple-backed XRP Price Struggles to Rally towards $1 despite Regulatory Clarity The XRP market is heavily bolstered by the adoption of Ripple payment products including On-Demand Liquidity (ODL) and RipppeNet. Ripple-backed XRP Price Struggles to Rally towards $1 despite Regulatory Clarity

CoinspeakerBrazil Gives Name and Logo to Its Central Bank Digital Currency (CBDC) – DREX The DREX CBDC will utilize distributed ledger technology (DLT) for settling wholesale interbank transactions, and retail access will rely on tokenized bank deposits. Brazil Gives Name and Logo to Its Central Bank Digital Currency (CBDC) – DREX

Ron DeSantis – Governor of Florida and one of the Republicans’ presidential nominees – stated that the “war on Bitcoin and cryptocurrency” that Biden’s administration has supposedly waged will cease should he become the next political leader of the United States.  He also reiterated his hostile stance toward central bank digital currencies, saying such a financial product will not see the light of day if he gets elected. DeSantis’ Pro-Bitcoin Promise The US presidential...

CoinspeakerBank of Korea to Explore CBDC Testing in Selected Regions Outside Seoul  While the CBDC testing is scheduled for next year, the road to CBDC implementation is not without its challenges. Bank of Korea to Explore CBDC Testing in Selected Regions Outside Seoul 

CoinspeakerA&G Announces Launch of First Crypto Fund in Spain The fund will be audited independently by PwC, one of the world's leading professional services organizations. A&G Announces Launch of First Crypto Fund in Spain

CoinspeakerNigeria’s Apex Bank Modifies eNaira Model to Boost Adoption Today, the eNaira continues to face many challenges from the nation’s monetary policy and financial stability. Nigeria’s Apex Bank Modifies eNaira Model to Boost Adoption

The world’s largest country by landmass is set to roll out a digital ruble next week after Russian President Vladimir Putin greenlighted the project on Thursday. The text of the bill amends Russia’s Civil Code to allow the digital ruble to be used for payments, while empowering Russia’s central bank to let real citizens use the currency starting August 1. Accounts for the digital ruble will be managed directly by the central bank, rather than commercial banks.In a statement...

CoinspeakerKorean Banks Start Research on Alternative for Stablecoins and CBDC Private banks are exploring blockchain-based "certificate of deposit" tokens (CDs) that will replace deposits and customary notes. Besides, they can also easily integrate with CBDCs. Korean Banks Start Research on Alternative for Stablecoins and CBDC