Tag Archives: CBDC

[unable to retrieve full-text content]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...

[unable to retrieve full-text content]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

[unable to retrieve full-text content]CoinspeakerFrench Central Bank Unveils Results of Extensive Wholesale CBDC Tests The French Central Bank is not alone in conducting wholesale CBDC experiments. For example, the Bank of England (BoE) is set to conduct a similar test soon. French Central Bank Unveils Results of Extensive Wholesale CBDC Tests

[unable to retrieve full-text content]CoinspeakerFSB Finalizes Global Regulatory Framework for Crypto The aim of FSB was to provide a regulatory framework that would comply with the principle of "same activity, same risk, same regulation" and cover all possible risks related to crypto activity. FSB Finalizes Global Regulatory Framework for Crypto

[unable to retrieve full-text content]CoinspeakerBank of China Launches Offline Payment Trial for Digital Yuan For now, the e-CNY app has a limit of 500 yuan ($77) per transaction and 10,000 yuan ($1,540) per day for offline payments. Bank of China Launches Offline Payment Trial for Digital Yuan

Brazil has been developing a CBDC for some time now. If all goes according to plan, the digital Real will be launched sometime in 2024. Once launched, it would support retail payments for anyone inclined to use it, backing up the payment with funds in the users’ bank accounts. Planning Ahead The Brazilian CBDC would not, however, interfere with other payment methods common in Brazil, such as Pix. According to a spokesman for the Brazilian government, the decision to push on...

[unable to retrieve full-text content]CoinspeakerCircle CEO Advocates for Yuan-Backed Stablecoins Instead of CBDC in China China has been at the forefront of CBDC development, with ongoing trials and pilot programs for the digital yuan. Circle CEO Advocates for Yuan-Backed Stablecoins Instead of CBDC in China

[unable to retrieve full-text content]CoinspeakerBIS Survey Reveals 24 Central Banks Planning to Introduce CBDCs by 2030 According to the survey, progress in the global development of CBDCs has continued since last year, with a particular emphasis on emerging economies where CBDCs are viewed as a means of providing financial access to unbanked individuals. BIS Survey Reveals 24 Central Banks Planning to Introduce CBDCs by 2030

An analysis conducted by Atlantic Council revealed that 130 nations, or 98% of the global GDP, are “exploring” a central bank digital currency (CBDC).  11 countries have fully launched one, with China being an example. A Closer Look at the CBDC Trends The research estimated that 95 counties had joined the CBDC race in the past three years. As of the moment, 130 nations have introduced some programs, with many being developed economies, such as Japan, South Korea, Australia,...