Yes Bank’s app UPI integration is the first for the Indian retail CBDC, which has seen a variety of projects since its pilot launch since December. The Reserve Bank of India (RBI) central bank digital currency (CBDC), the digital rupee, will have enhanced usability, Yes Bank announced Aug. 30. This was thanks to Yes Bank’s…
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The Supreme Court bench asked the union government to file a report on whether the latter is capable of setting up a federal agency to investigate crypto-related crimes. The Indian Supreme Court on July 27 reprimanded the Union government for the lack of crypto regulations in the country, according to a report in a local…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: NFT Royalties Reach Lowest Point in Two Years, Two Teens Arrested for BTC and ETH Scam, India and 18 Central Banks Discuss Using Digital Rupee for Cross-Border Payments…
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The Reserve Bank of India listed six specific ways a stablecoin can undermine emerging markets, adding to its mounting case against crypto. Stablecoins have a lot of potential to harm emerging markets and developing economies, the Reserve Bank of India (RBI) claimed in its latest Financial Stability Report, released June 28. The report listed six…
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In our latest Cointelegraph Report, we analyze the causes leading to the decline of the U.S. dollar as the world reserve currency and its potential implications. De-dollarization, the decline of the United States dollar as the world’s dominant reserved currency, is underway, and it’s gaining momentum. For over 100 years, the U.S. dollar has been…
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Reserve Bank of India Deputy Governor Mahesh Kumar Jain has told Indian bank directors they should “adopt innovative technologies such as AI and blockchain.” A top federal official representing India’s central bank has recommended all banks adopt artificial intelligence and blockchain technology to ensure sustainable growth and stability. At a conference organized by the Reserve…
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Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting the flow of imports to the country. Bangladesh and…
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In addition to offline functionality, RBI is gauging CBDC’s potential for cross-border transactions and linkage with legacy systems of other countries. India’s recently launched in-house central bank digital currency (CBDC) — the digital rupee — is now being tested for offline functionality, revealed Ajay Kumar Choudhary, executive director of the Reserve Bank of India (RBI). The RBI…
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One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program. India’s national payment network, the unified payments interface (UPI), is expanding its services beyond Indian borders, integrating with Singapore’s PayNow rapid payment system. Shaktikanta Das, governor of the Reserve Bank of India, and Ravi Menon, managing director of…
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5,000 merchants and 50,000 users are now participating in India’s CBDC pilot project, the RBI’s deputy governor has said, noting that the central bank intends to proceed with the project slowly to avoid unwanted fallouts. Rabi Sankar, Deputy Governor at Reserve Bank of India (RBI), announced the first milestones of India’s digital currency at a…
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