The International Monetary Fund (IMF) is working on a worldwide central bank digital currency (CBDC) infrastructure. That platform would allow for interoperability of CBDC settlements and avoid their underutilization, IMF Managing Director Kristalina Georgieva said during a conference in Rabat, Morocco. “We are working on a principle...
Thailand’s central bank has launched a pilot retail central bank digital currency (CBDC) project. According to a Monday (June 12) Bangkok Post report, the Bank of Thailand is working with Bank of Ayudhya – or Krungsri – Siam Commercial Bank (SCB), and Singapore-based payments service firm...
It is a time of profound, sweeping changes across finance, technology, and society. As money and other alternative payment vehicles continue to ride the ever-cresting wave of digitization, a group of central banks, together with the Bank for International Settlements (BIS), are working together to...
The European Central Bank (ECB) has done recent tests that show the potential of a digital euro. The bank released results of a “prototyping exercise” — conducted between July 2022 and February — that examined what digital euro payments would look like in a variety of use cases, according...
If the United Kingdom wants to launch a digital pound, it will need to update its finance and data laws. That’s according to a Monday (May 22) report by CoinDesk, citing interviews with a pair of lawyers as the U.K. Treasury and Bank of England (BoE)...
Cross-border payments are a major railway for facilitating the functioning of the global economy. Yet they face significantly greater challenges including slower speeds, more restricted access, higher costs, and less transparency than domestic payments. That’s why as the way that money moves, along with its...
Ripple has launched a platform to capitalize on worldwide interest in central bank digital currencies. The Ripple CBD Platform is a “frictionless end-to-end” solution to help banks, governments and financial institutions launch their own central bank digital currencies (CBDCs), the crypto solutions company said in...
Innovations that transform the world historically rest on revolutionary, but above all viable, use cases. Utility is instrumental to adoption, and as money movement becomes increasingly digitized, central bank digital currencies (CBDCs) are one payment instrument that nations around the world are growing increasingly interested in investigating. “There’s...
Samsung is reportedly working with the Bank of Korea on a central bank digital currency (CBDC). The consumer tech firm has signed an agreement known as a memorandum of understanding (MOU) with South Korea’s central bank to conduct technical research on the product, CNBC reported Tuesday (May 16). Samsung did...
