The introduction of Libra, Facebook’s attempt at digital currency in 2019, energized digital asset proponents who said the new technology would transform the banking landscape with a blockchain-based stablecoin payment and cryptocurrency network. In an interview with PYMNTS, Andreas Veneris, a professor of electrical and...
China’s digital yuan may be the largest central bank digital currency (CBDC), but a digital euro is coming. European Union Commissioner for Financial Services Mairead McGuinness announced Feb. 9 plans to introduce a bill creating a digital euro next year, according to Politico. Based on...
The International Monetary Fund (IMF) released a paper on February 9, “Behind the Scenes of Central Bank Digital Currency,” analyzing the experiences of six central banks in designing and issuing Central Bank Digital Currencies (CBDCs). There are a few clear messages in the paper. One...
The Central Bank of Kenya (CBK) has released its discussion paper on the possibility of a central bank digital currency (CBDC) and is now awaiting feedback from the public on the pros and cons, as well as potential policies and regulations. The CBK is seeking...
In the back and forth over central bank digital currencies (CBDCs), where countries around the globe are focused on how, and even whether, to move forward, with plans to inject digital fiat into the mix, it may be the court of public opinion that determines...
The south-central African country of Zambia is joining the ranks of others across the continent and much of the world in exploring the pros and cons of having a central bank digital currency (CBDC), cryptocurrencies and other digital assets. The Bank of Zambia, the country’s...
The managing director of the International Monetary Fund (IMF) has urged policy makers to consider the trade-offs of central bank digital currencies, saying there is no universal case for CBDC. CBDCs could offer more financial inclusion in some countries and form a backup payment system...
Beyond retail, beyond the confines of its own borders, China is eyeing bringing its central bank digital currency (CBDC) to a broader world stage. The details, at least thus far, are scarce. To that end, and as reported by Reuters, the Chinese government is seeking...
One of the big promises of central bank digital currencies (CBDCs) is that they are usable anywhere paper currencies are accepted. That is to say, everywhere. But like credit cards, PayPal and Apple Pay, CBDCs like China’s digital yuan or a digital dollar have one...