Circle has responded to a Federal Reserve paper Wednesday (May 25) about the possibilities of a U.S. central bank digital currency (CBDC), saying it could “destabilize” banking. The issuer of the USDC stablecoin said the CBDC, “both in interest bearing and non-interest bearing forms, creates...
Latin American exchange Mercado Bitcoin is teaming with the Stellar Development Foundation (SDF) on one of the nine projects in the LIFT Challenge Real Digital, a collaborative environment hosted by the Central Bank of Brazil and the National Federation of Associations of Central Bank Servers....
The Federal Reserve asked the public for its thoughts on the need for a central bank digital currency (CBDC), and the banking industry has answered with a resounding “no.” The comments came in response to the Fed’s report, “Money and Payments: The U.S. Dollar in...
Wall Street lenders want the U.S. government to slow down on their plans for a digital dollar, Bloomberg reported Monday (May 23). They think a virtual currency could end up draining “hundreds of billions of dollars” from the banking system. There’s no official plan in...
A digital euro could be as little as four years off, according to a top European Union official. And when an EU central bank digital currency (CBDC) comes out, it will have the backing of the European Central Bank (ECB) from Day One, according to...
SWIFT, the global provider of financial messaging services, is looking at tests to link various central bank digital currency (CBDC) networks for cross-border transactions, a report said Saturday. SWIFT has tapped Capgemini, the French information technology services and consulting company, to help with this. According...
Fabio Panetta, a member of the European Central Bank’s (ECB) executive board, said Monday (May 16) that a digital euro could become a reality within the next four years, calling it a necessary step toward continued economic growth and strength. “As we face the most...
The Central Bank of Nigeria (CBN) became the latest governmental body to allow bill payments using digital currency when it approved the use of the upgraded version of its central bank digital currency (CBDC), eNaira, according to a Vanguard report Monday (May 9). CBN said...
There have been countless discussions, and more than a few arguments, for and against the need for a U.S. central bank digital currency (CBDC). What’s been missing, to a large degree, is analysis about whether the general public actually wants a CBDC, or if they...