The National Unity Government is considering using the country’s frozen reserves as a backing for the digital currency. Half a year after the military junta in Myanmar revealed its plans to launch a digital currency, the country’s government, ousted in a coup in 2021, voices its own intention to launch one using frozen national funds. …
Read more
The trial may lead up to the introduction of a CBDC in India before the end of this fiscal year, most likely in three steps; U.S.-based FIS is reportedly participating. The Reserve Bank of India (RBI) is in talks with fintech companies and state-controlled banks about a trial run of a central bank digital currency…
Read more
The Bank of Ghana has said the expected implementation of the central bank digital currency will not disrupt or negatively impact the operations of mobile money operators. Rather, the central bank expects the digital currency to improve the efficiency of Ghana’s settlement systems as well as to “fast-track cross border trade.”
CBDC to Complement Mobile…
Read more
A Russian bank, one of the country’s largest by assets, has conducted a successful trial with digital ruble transactions processed through its mobile app. The state-owned Promsvyazbank was one the institutions placed under Western sanctions earlier this year in connection with Moscow’s actions in Ukraine. Russian Bank Experiments With Digital Ruble Transfers via Mobile Application…
Read more
Some of the biggest flaws preventing present-day cryptocurrencies from mainstream adoption, pointed out by the BIS execs, are bottleneck congestion in DeFi and the reliance on volatile assets. Governments across the globe see central bank digital currencies (CBDC) as a means to improve the existing fiat ecosystem. Cryptocurrency’s technical prowess supported by the central bank’s…
Read more
Digital assets could become “a permanent feature of the financial landscape,” although decentralized cryptoassets like bitcoin (BTC) “fail as money,” Singapore’s central bank director has argued…. Read More: Digital Assets Could Become ‘Permanent Feature’ of Finance, Singapore Central Banker Argues Read more »Sign up for e-EUR – the progressive stablecoin
The non-profit organization promoting the creation of the digital dollar, the Digital Dollar Project, has announced the launch of a sandbox program to kickstart the probe of the technical implementations of the envisaged digital currency. The fintech firm Ripple is among the four participants that are expected to help the Digital Dollar Project “explore technical…
Read more
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: Update for Mt. Gox Creditors, Binance’s Messages, Ledger at Best Buy + More News Read more »Sign up for e-EUR – the progressive stablecoin
The Central Bank of Nigeria has said it is slashing transaction fees for the e-naira platform by 50% — a move which the bank claims will increase the volume of transactions on the central bank digital currency (CBDC) platform. The central bank also believes that wider adoption of the CBDC will bolster Nigeria’s cross-border trade…
Read more
Crypto adoption is on the march in Brazil, where the nation’s Central Bank has commissioned a commercial banking giant to build a DeFi solution for its prototype central bank digital currency (CBDC). Meanwhile, across the border in Argentina, a city says that it will accept tax payments made using USD-pegged stablecoins – while the capital…
Read more
