Ukraine is continuing the work on its digital hryvnia, or e-hryvnia, despite the ongoing aggression by Russia. The National Bank of Ukraine (NBU) introduced a draft concept for its central bank digital currency (CBDC) on Monday this week. The statement said that the key purpose of e-hryvnia is to perform all the functions of money…
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India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across India. RBI Picks 8 Banks, 13 Cities to Test Retail Digital Currency The…
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Roberto Campos Neto, president of the Bank of Brazil, explained the role that the Brazilian central bank digital currency (CBDC), the digital real, might play in the future of personal finance. At an event, Neto explained the concept of “open finance,” showing a “super app” that featured PIX (a payments network) functionality, and also integration…
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The Bank of Japan is preparing to run a test trial of its own central bank digital currency (CBDC), the digital yen, with help from three top banks and regional institutions. The pilot program, estimated to last two years, will focus on testing the currency via several transactions, and experimenting with its functionality in environments…
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The Japanese central bank could begin piloting the digital yen as early as spring 2023 and will reportedly start a trial involving “consumers and private sector companies.”… Read More: Japanese Digital Yen Pilot to Begin ‘in Early 2023’ Read more »Sign up for e-EUR – the progressive stablecoin
A survey of the continent’s central banks shows optimism about greater efficiency and inclusion, but several drawbacks remain; Nigeria already has an operational retail CBDC. Mobile money has been a strong competitor to central bank digital currency (CBDC) in Africa, but many of the continent’s central bankers have greater faith CBDC, according to a Bank…
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The digital rupee is intended as a supplement to the current payment system and not its replacement. Having tested the wholesale usage of its central bank digital currency (CBDC), the Reserve Bank of India (RBI) is preparing to conduct the retail pilot of the “digital rupee.” The pilot should launch within a month. According to…
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