The European Commission (EC) says a digital euro should complement cash, not replace it. The EC on Wednesday (June 28) published a pair of proposals designed to make sure consumers and businesses can continue to use hard currency, while also creating the framework for a...
The European Union will reportedly publish draft rules governing a digital euro this week. The regulations provide the legal basis for the digital currency, assuming the European Central Bank (ECB) chooses to issue one, Reuters reported Monday (June 26). “This puts at stake the desirable balance...
eCurrency Mint has joined forces with financial markets solutions provider CMA. The partnership, announced Monday (June 26), will provide customers with an integrated real-time gross settlement (RTGS) and central bank digital currency (CBDC) solution. “This collaboration operationalizes CBDC allowing seamless support for commercial banks and other intermediaries to access...
Switzerland’s central bank is reportedly planning to issue a wholesale digital currency. The project will happen on the country’s SIX digital exchange, Swiss National Bank Chairman Thomas Jordan said Monday (June 26). “This is not just an experiment, it will be real money equivalent to...
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)...