Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: the Central Bank of Chile will keep experimenting with CBDC, Argentina’s VASPs will have to register to provide services in the country, and Argentines are warming up to bitcoin as an investment instrument.…
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West African nation Liberia is mulling to create central bank digital currency (CBDC) in collaboration with real-world asset platform Gluwa. Gluwa, which recently partnered with Bank of Nigeria (CBN) to help drive its CBDC ‘eNaira,’ will be assisting in the research and development of Liberia’s CBDC. Tae Oh, Gluwa’s CEO, met the President of Liberia,…
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The Hong Kong Monetary Authority announced the launch of the second phase of the pilot of its CBDC, the digital Hong Kong dollar (e-HKD). This new phase will focus on furthering the research on already examined use cases for the currency, including programmability and tokenization, and adding new, not previously explored use cases. Hong Kong…
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China’s central bank, the People’s Bank of China, has published a digital yuan service guide for foreign visitors to help them make contactless payments with e-CNY. As per a local news report, “Explore the Splendors of China with e-CNY Service Guide for Visitors in China” published by the central bank, international tourists can now pay in…
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An Atlantic Council study published Thursday showed that 134 countries, or 98% of the global Gross Domestic Product (GDP), are currently exploring a central bank digital currency (CBDC). This number has surged from just 35 since May 2020. Currently, 68 countries are in advanced stages of exploration, which includes development, pilot, or launch phases. Notably,…
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Russian President Vladimir Putin signed a law allowing firms in the country to use digital financial assets including the digital ruble in international payments on March 11. Moscow has fast-tracked the bill in an apparent bid to help domestic companies use digital tokens and CBDCs to evade sanctions. Putin Signs off on Landmark Bill The…
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Gluwa, a platform for real-world assets, announced on March 7 its partnership with the Central Bank of Nigeria. The partnership arrangement aims to improve the functionality of the Nigerian central bank’s digital currency and promote financial innovation through blockchain technology. Improving the CBDC’s Utility Gluwa, a real-world assets platform, has entered into a partnership arrangement…
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The U.S. Federal Reserve Chair Jerome Powell has made it clear to the Senate Banking Committee that the Fed has no imminent plans to launch a central bank digital currency (CBDC). During the hearing, Powell elaborated on the Fed’s current stance on CBDCs, emphasizing that while the concept is under study, the implementation of a…
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Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a significant distance from such a possibility. He assured that any potential CBDC would not be designed for…
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Federal Reserve Chairman Jerome Powell engaged with the Senate Banking Committee, signaling that the U.S. is just beginning to contemplate the introduction of a central bank digital currency (CBDC). Powell Assures No Direct Fed Accounts in CBDC Plans, Seeks Congressional Go-Ahead In his conversation with the Senate Banking Committee, Fed Chair Jerome Powell explored the…
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