As central banks examine digital currencies (CBDCs) and the private sector delves ever further into stablecoins, convergence and collaboration may be overarching themes of 2022 and beyond. To that end, the Central Bank of Bahrain said this week that it completed a test of the...
Defense, it is said, is the best offense. It’s no surprise, then, that central banks have been busy playing a bit of catch-up, moving more aggressively to develop and deploy central bank digital currencies (CBDCs) across the globe. In doing so, the banks are playing...
The Bank of Mexico wants to have its own digital currency circulating sometime in the next two years, in an effort to foster financial inclusion in a cash-heavy country, according to published reports. The president of Mexico’s central bank, Andrés Manuel López Obrador, said on...
The Bank of Jamaica (BOJ) recently wrapped up the pilot of its central bank digital currency (CBDC) and says it’s on track for a nationwide rollout in the first quarter of 2022, according to a Cointelegraph report Monday (Jan. 3). BOJ wrapped up its eight-month...
If you look deeper at the news of India’s central bank accepting a “basic” digital rupee as “a safe, robust, and convenient alternative to physical cash,” something jumps out of the “Report on Trends and Progress of Banking in India 2020-21,” released on Tuesday (Dec....
Central bank digital currencies (CBDCs) could ultimately mean good things for the crypto industry, the CEO of the crypto exchange Binance said Tuesday (Dec. 21). “Overall, I believe CBDCs are very positive for the crypto industry, but with a few caveats,” Changpeng Zhao wrote on...
The Banque de France announced Thursday (Dec. 16) that it has successfully finished the first stage of its plan to create a wholesale central bank digital currency (CBDC). The French central bank has long been a proponent of European Union-wide CBDCs, pitching its own efforts...
The Ukrainian commercial bank TASCOMBANK is working with the FinTech Bitt to issue an electronic hryvnia — the country’s national currency — on the Stellar network. The bank announced the pilot program Tuesday (Dec. 14), saying it would involve a test of the electronic currency...
China is now working on connecting its nearly finished central bank digital currency (CBDC) to Hong Kong’s Fast Payment System. Announced by the head of China’s digital yuan project in a Thursday (Dec. 9) seminar, the pilot program between the People’s Bank of China (PBoC)...