China’s food delivery service Meituan has become the latest tech firm to let customers use central bank digital currency (CBDC) payments. As CoinTelegraph reported Friday (Jan. 28), users can link their Meituan app to a digital wallet to pay for daily services like cabs, hotel...
The Bank of America has said a digital currency for the U.S. is “inevitable,” and might occur sometime between 2025 to 2030, Bloomberg writes. Strategists Alkesh Shah and Andrew Moss said the idea of a CBDC is an “inevitable evolution” of today’s electronic currencies. They...
South Korea’s central bank has concluded the first phase of its test of a central bank digital currency (CBDC), CoinDesk reported Monday (Jan. 24). The Bank of Korea’s initial test looked at the basic functions of the currency, using a simulation environment to study its...
The Federal Reserve released its long-awaited working paper on the benefits and risks of creating a U.S. central bank digital currency (CBDC) last week. In it, it was clear that the Fed didn’t want to take a position on this issue and doesn’t intend to...
The Fed released its long-awaited paper on Central Bank Digital Currencies last week. After reading it, I don’t get the feeling that even the authors themselves are convinced that a CBDC is the right course of action for the U.S. central bank to take —...
The Federal Reserve has finally dropped its long-awaited central bank digital currency report and it is … careful. Nonetheless, the report, Money and Payments: The U.S. Dollar in the Age of Digital Transformation, does give a window into the U.S. central bank’s thinking on the...
The U.S. Federal Reserve has said making an official digital dollar might give Americans greater and faster payment options at the cost of some potential financial stability risks, Reuters reported. In a paper released Thursday (Jan. 20), the Fed didn’t make policy recommendations — offering...
China’s digital yuan trials captured $8.3 billion of the country’s payments market in the past six months and $13.68 billion in the past two years, just a sliver of the trillions in payments processed in the country annually, CNBC reported, citing data from the People’s...
The regulatory environment is taking shape for central bank digital currencies (CBDCs) — but there’s hardly a clear-cut path forward, at least here in the states. A number of key questions still bubble up. How should central banks — and, especially, the Federal Reserve —...