Brazil’s central bank hopes to launch a digital currency in 2024. That’s according to Central Bank of Brazil President Roberto Campos Neto, who said Tuesday (Dec. 13), per Reuters, the country’s central bank digital currency (CBDC) will debut after a closed pilot with financial institutions...
A group of large banks is preparing to test a shared digital asset settlement platform. According to the announcement, the study is set to take place over the next 12 weeks and will test the working realities of running an interoperable network for central bank...
The Central Bank of Nigeria has redefined ATM withdrawal limits to encourage digital currency usage. In a Tuesday (Dec. 6) press release, the CBN said that the daily maximum customer ATM withdrawal for naira, Nigeria’s currency, is now capped at 20,000 naira ($45). This is...
India’s digital rupee has so far demonstrated little benefit, the nation’s bankers say. In a report from Reuters published Thursday (Dec. 1), seven bankers said that using the Reserve Bank of India’s (RBI) digital currency was very similar to the internet-based banking users were already...
India’s central bank will begin testing its proposed digital rupee for retail use this week. “The pilot will test the robustness of the entire process of digital rupee creation, distribution, and retail usage in real-time,” the Reserve Bank of India said in a news release Tuesday...
Ukraine’s central bank is considering a central bank digital currency to let users trade cryptocurrency. According to a Monday (Nov. 28) news release from the National Bank of Ukraine (NBU), the bank has discussed its plans for a digital version of the Ukrainian hryvnia with...
The Bank of Japan will reportedly join a host of other countries in testing a central bank digital currency (CBDC) next year in experiments with three of the country’s banks. According to a report by Nikkei Wednesday (Nov. 23), the bank will conduct the tests...
In a video address as part of a high-level conference on the digital euro earlier this month, the president of the European Central Bank (ECB), Christine Lagarde, announced that the central bank digital currency (CBDC) project had received “strong political backing,” a year after kicking...
Faster cross-border transactions could be one of the most significant benefits of a United States central bank digital currency (CBDC), a New York Fed official said. For example, such a CBDC could reduce the time required for settlement of foreign exchange (FX) spot transactions from...