The Monetary Authority of Singapore (MAS) has debuted Ubin+, a program to test the use of a wholesale central bank digital currency (CBDC) for cross-border foreign exchange settlement. According to a Thursday (Nov. 3) news release, Ubin+ will study “business models and governance structures for...
In a pilot project that is said to be the first of its kind, the central banks of France, Singapore and Switzerland are collaborating in a joint trial of their experimental central bank digital currencies (CBDCs) and decentralized finance (DeFi) protocols. During what is to...
A four-country test of a cross-border payments system using central bank digital currencies was a success, the Bank for International Settlements (BIS) declared last week, finding that creating international payments bridges “is a realistic and achievable goal.” Carried out under the auspices of the BIS’...
The Monetary Authority of Singapore and DBS Bank are running a trial of tokenized Singapore dollars that can be programmed for specific uses and allow merchants to be paid immediately. The experiment with “purpose bound money” (PBM) or programmable money is being carried out under the...
The Reserve Bank of India (RBI) has announced that the first of its pilot launches of a digital rupee will begin Tuesday (Nov. 1) with a “Digital Rupee — Wholesale segment.” Nine banks will participate in this pilot project and the use case will be...
The Bank for International Settlements (BIS) on Wednesday (Oct. 26) published a report on Project mBridge, a four-nation collaborative pilot for cross-border central bank digital currencies (CBDCs). The Hong Kong Monetary Authority, the Bank of Thailand, the Digital Currency Institute of the People’s Bank of...
If there’s one lesson to take away from the first anniversary of Nigeria’s struggling eNaira central bank digital currency (CBDC), it’s that China has shown wisdom with its extremely slow rollout of its digital yuan. A Tuesday (Oct. 25) ceremony by the Central Bank of...
The Bank for International Settlements (BIS) and Hong Kong Monetary Authority said they’ve conducted an experiment showing central bank digital currencies (CBDCs) can work in tandem with private stablecoins. The study — dubbed Project Aurum, or “gold” in Latin — shows how the two digital...
A new study from the European Central Bank (ECB) has found that retail central bank digital currencies (rCBDCs), which could be used to allow for every-day retail transactions, will likely face an uphill climb in terms of being accepted. The paper says there will be...