In its August monetary policy statement, the Central Bank of Zimbabwe (CBZ) announced that it has developed a “roadmap for adoption of CBDC [central bank digital currency] in Zimbabwe,” embarking on the next stage of its journey toward the issuance of a government-backed digital currency....
The latest news about China’s digital yuan is that it can now be used to pay for bus rides in Guangzhou, joining subway systems in at least 10 cities, including Chengdu and Beijing, that accept the central bank digital currency. That’s on top of news...
Aiming to make transactions easier for consumers and to put an end to tax evasion, Colombia is reportedly considering introducing a central bank digital currency (CBDC). The information was shared by Luis Carlos Reyes, head of the Colombian Tax and Customs Office, according to a...
Zimbabwe central bank governor John Mangudya has said there’s a “roadmap” to adopt a CBDC, a consultation paper from the bank said. This comes six months after the Reserve Bank of Zimbabwe (RBZ) said it would look into the feasibility of rolling out a CBDC....
In a recent European Central Bank (ECB) working paper, central bank digital currencies (CBDCs) were discussed as being a potential “holy grail” for cross-border payments. In it, the authors highlighted the distinct advantages they perceived the technology held over bitcoin and stablecoins as technologies for...
A digital euro could be the “Holy Grail” of cross-border payments, according to a recent report by the European Central Bank. A European central bank digital currency (CBDC) would present a solution that is “immediate, cheap, universal in terms of reach, and settled in a...
Step by step, Nepal is looking into issuing its own central bank digital currency (CBDC), a report from Beincrypto said Monday (Aug. 8), quoting a local news story. Nepal Rastra Bank, the central bank, wants to revise the legislation governing what it can do, which...
A bipartisan group of lawmakers wants the Federal Reserve to speed efforts to issue a digital dollar and thus prevent countries like China from endangering the U.S. position as the world’s reserve currency. As The Wall Street Journal reported Monday (Aug. 8), the group —...
Holy Grail? Maybe. But: For cross-border payments, there may be a few paths to that Grail. The recent paper put forth by the European Central Bank, titled “Towards the Holy Grail of Cross Border Payments,” spotlighted here, takes note of the potential for central bank digital...