Paolo Ardoino, chief technology officer, of Tether and Bitfinex, explains why USDT will retain its dominance in an increasingly competitive stablecoin market. Paolo Ardoino, the chief technology officer of Tether and Bitfinex, is confident that Tether will preserve its status as the most used stablecoin, despite the rapid growth of competitors such as USD Coin…
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From fiat banknotes to fractional reserve banking, the notion of what constitutes money in the U.S. has changed over time. But is the time right for e-cash? On March 11, United States President Joe Biden issued an executive order in which he encouraged the Federal Reserve to continue research on a prospective U.S. central bank…
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Russia should deploy cryptocurrencies and CBDCs for settlement and payments with Africa, the president of the Chamber of Commerce and Industry believes. An executive at Russia’s Chamber of Commerce and Industry has called on the government to conduct cross-border settlements in cryptocurrencies and central bank digital currencies (CBDC). Chamber president Sergei Katyrin sent a letter…
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The Bank of Japan’s Executive Director announced that the eagerly-awaited digital yen won’t be used to attain negative interest rates. The Bank of Japan (BoJ) has said that its Central Bank Digital Currency (CBDC), the digital yen, will not be used to help attain negative interest rates. The BoJ’s Executive Director, Shinichi Uchida made the…
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As a number of countries across the globe are working on developing their respective central bank digital currencies (CBDCs), ensuring a separation between identity and transaction data could produce a better environment for privacy protection and could lead to public confidence and trust in using CBDCs, according to a recent paper released by the…
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Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,” the pilot phase of which should start in the near…
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Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digital currency (CBDC). The governor, however, warns the launch might have implications for financial stability.
BON Researching CBDCs
The BON governor, Johannes Gawaxab, recently confirmed that the central bank is now planning to…
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Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has outlined the implications of India issuing a central bank digital currency, the digital rupee. ”I think central banks would go about it in a very calibrated, graduated manner, assessing impact all along the line,” he explained. RBI’s Deputy Governor Discusses Indian Central Bank Digital…
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Fabio Panetta outlined recent findings and remaining challenges while emphasizing the necessity of a well designed European CBDC. European Central Bank executive board member Fabio Panetta provided an overview of the central bank’s current research on a retail central bank digital currency Friday when he spoke at the IESE Business School Banking Initiative Conference on…
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The Chinese e-pay platform WeChat Pay has unveiled a digital yuan interoperability solution that will allow users of the service to make payments in the central bank-issued token. As reported, the central People’s Bank of China (PBoC) has recently expanded the number of cities included in its pilot for the digital CNY to include…
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