The People’s Bank of China says it will make an effort to further link the digital yuan to the country’s popular mobile payment apps. As Bloomberg News reported Tuesday (Nov. 9), the bank wants to upgrade the digital currency’s “interoperability with existing payment tools” and...
The Bank of France wants to investigate the specifics of a central bank digital currency (CBDC) for wholesale use, Bloomberg reported. A CBDC could help standards for securities settlements and minimize possible fragmenting from multiple private versions existing, the bank found, per the report. A...
Trust is paramount to any payments mechanism, be it hard currency, stablecoin or a central bank digital currency (CBDC). Ecosystems can take shape only when the value of the payment will remain as agreed upon and the data underlying them are kept safe and private....
Nigeria’s eNaira digital currency is proving popular, although some critics say the population’s mistrust of the government might hinder its progress, the Financial Times (FT) reported. The central bank digital currency (CBDC) was launched Oct. 25. More than half of Nigerians don’t have a formal...
European Central Bank executive board member Fabio Panetta promised that the digital euro will be appealing to users and won’t be overwhelmed by other private payment types, according to a Bloomberg report on Friday (Nov. 5). ECB is working with the European Commission on “a...
Officials in China said the use of the digital yuan — or e-CNY — has surged to 140 million individual accounts and 10 million business accounts, Bloomberg reported. Mu Changchun, head of the Digital Currency Institute at the People’s Bank of China (PBOC), said per...
As central bank digital currencies (CBDCs) grow in popularity, the world’s payments leaders are making preparations. On a recent earnings call, Mastercard CEO Michael Miebach discussed the company’s plans to support CBDCs, Securites.io noted in a Tuesday (Nov. 2) report. “We are saying at this...
Around the world, major economies have been moving, in some cases quickly, to embrace and launch central bank digital currencies (CBDCs). And yet, the United States, relatively speaking, lags the pack. News came this past week that India is moving ahead to explore its version...
The European Central Bank (ECB) has announced the 30 people to be on its Market Advisory Group for its digital euro project, according to a press release. The group will advise the ECB on the design and distribution of a possible digital euro, the release...