Tag: CBDC

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China, Hong Kong, Thailand, and UAE Trial Cross-Border Transactions With Digital Currencies

September 29, 2022

The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were made as part of the pilot project with the participation of the Bank for International Settlements. Asian Central Banks Pilot Real-Value International Settlements With Digital…
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The Caribbean is pioneering CBDCs with mixed results amid banking difficulties

September 29, 2022

Emtech’s Cadet talks about CBDCs in emerging markets as the U.S. Congress and United Nations hear about the traditional banking crises. The Caribbean region is in a tough situation for banking. The 35 nations comprising the region face challenges common to many tiny economies, such as dollarization and dependence on foreign trade and remittances. In…
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Fed Chair Jerome Powell Updates Work on Digital Dollar — Says US Central Bank Digital Currency Will Take ‘at Least a Couple of Years’

September 29, 2022

Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve…
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Settlements With China — Russia Plans Next Step for Digital Ruble

September 28, 2022

Russia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China. Authorities in Moscow hope other nations will be willing to adopt the Russian digital currency in trade, which will allow the country to circumvent sanctions imposed over the Ukraine war. Russian Federation Eyes Digital Ruble…
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Thai SEC Comes After Bitkub Exchange, OpenSea Rewards Whitehats, BIS Working With (at Least) 7 Central Banks on CBDC Projects + More News

September 28, 2022

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: Thai SEC Comes After Bitkub Exchange, OpenSea Rewards Whitehats, BIS Working With (at Least) 7 Central Banks on CBDC Projects + More News  Read more »Sign up for e-EUR – the…
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Australia Issues White Paper for Central Bank Digital Currency

September 28, 2022

Reserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties to participate with proposals and suggest pilot projects. Central Bank of Australia to Pilot CBDC Until Middle of 2023 The Reserve Bank of Australia (RBA)…
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BIS marks CBDC pilot as ‘successful’ with $22M transacted

September 28, 2022

Over $12 million in value was issued in the pilot with commercial and central banks in Hong Kong, Thailand, the UAE and China taking part. A multi-jurisdictional central bank digital currency (CBDC) pilot has been marked “successful” by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of…
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California Governor Vetoes ‘Premature’ Crypto Bill, Russia to Use Digital Ruble w/ China by Next Year, a Debit Card Enables NFT Avatar Customization + More News

September 27, 2022

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: California Governor Vetoes ‘Premature’ Crypto Bill, Russia to Use Digital Ruble w/ China by Next Year, a Debit Card Enables NFT Avatar Customization + More News  Read more »Sign up for…
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Russia aims to use CBDC for international settlements with China: Report

September 27, 2022

Russia is currently in the pilot phase of its CBDC development and is expected to complete the development by early next year. Russia is in the pilot phase of its central bank digital currency development (CBDC), and new reports indicate that the country could use its national digital currency to settle international trade. According to…
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Binance Reportedly to Go (Back) Big in Japan, Kraken Rejects SEC, China Gets Metaverse Engineering Department + More News

September 26, 2022

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: Binance Reportedly to Go (Back) Big in Japan, Kraken Rejects SEC, China Gets Metaverse Engineering Department + More News  Read more »Sign up for e-EUR – the progressive stablecoin

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