Source: Adobe/prima91 Visa, a global leader in payments technology, has announced the successful completion of a pilot test of tokenized deposits using central bank digital currencies (CBDCs). On November 1, Visa announced that it had completed the Hong Kong Monetary Authority’s CBDC pilot program with leading financial institutions, HSBC and Hang Seng Bank, as part…
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The country’s population doesn’t demonstrate as high a confidence level in the European Central Bank’s digital currency project as the government does, according to the survey. As the Bank of Spain embraces the potential adoption of a digital euro, the country’s population doesn’t appear to have the same strong appetite for the European Central Bank’s…
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Project mBridge has put together a slick publication with lots of new information to let the world know what the hottest project in CBDC is. The Bank for International Settlements (BIS) released a colorful and fact-filled Project mBridge update on Oct. 31. The publication combines technical and promotional discussions in a shift of tone as…
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The Kenyan government plans to roll out its digital identification system in December 2023 after the testing period, which will take the next few months. The Kenyan government plans to roll out its digital identification system in December 2023 after the testing period, which will take the next few months. According to the president of…
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A recent report issued by the Bank of Spain that inquires about how Spaniards use cash for payments has revealed the low degree of confidence they have in a hypothetical digital euro. 65% of the citizens surveyed reported that they would not use the digital euro as they feel comfortable with the payment options available…
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Sir Jon Cunliffe looks at payment solutions of the past and future in his last speech as deputy governor of the BOE. The Federal Reserve Board continues to research a central bank digital currency (CBDC), or at least adjacent technologies, Vice Chair Michael Barr said on Oct. 27. He also touched on stablecoins at the…
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Crypto asset providers, such as crypto exchanges, will also be given a legal definition. The 2024 Turkish Presidential Annual Program, published on Oct. 25 in the Official Gazette of the Republic of Turkey, aims to finalize crypto regulations in the country within the calendar year of 2024. Article 400.5 of the almost 500-page document reveals…
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The digital euro will make electronic payments a vital piece of the financial system, the statement claims. Banco de España, Spain’s central bank, has joined a chorus of European banking institutions preparing their customers for the potential benefits of a digital euro. The central bank published a short text on Oct. 19 explaining the nature and…
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Petrochina, the largest Asian oil and gas producer, has completed a settlement using the Chinese central bank digital currency (CBDC), the digital yuan. The operation, which involved a purchase of 1 million crude barrels through the Shanghai Oil and Gas Trading Center platform, marks the first time the digital yuan has been used as payment…
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CBDC and de-dollarization saw major strides last week with the 1-million barrel deal on the Shanghai Petroleum and Natural Gas Exchange. The digital yuan has been used for the first time to settle an oil transaction, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced. PetroChina International bought 1 million barrels of crude on Oct.…
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