Tagged: central bank digital currency

May 11, 2023 @ 11:48 am By Omar Faridi  |  

Visa (NYSE: V), a firm focused on digital payments, was one of nine finalists tasked with exploring innovative blockchain-based use cases for the Real Digital (Brazil’s central bank-issued digital currency, or CBDC) as part of the most recent LIFT Challenge. The company partnered with Agrotoken,… Read More

May 9, 2023 @ 9:45 pm By Omar Faridi  |  

The Bank of Canada is launching an online public consultation on “the features that could be included in a digital Canadian dollar.” The consultation opened on May 8, 2023 and runs until June 19. The way Canadians pay for everything from the daily necessities “to… Read More

April 18, 2023 @ 12:00 pm By Barry James  |  

As the USA House Subcommittee on Digital Assets, Fintech, and Inclusion, hold a hearing on stablecoins Wednesday, April 19, 2023, in the USA, in the UK, and around the world, attempts to shoe-horn digital money from central and private banks (CBDCs and Stablecoins) into existing… Read More

April 6, 2023 @ 10:43 pm By Omar Faridi  |  

The Central Bank of the UAE (CBUAE) has launched its Central Bank Digital Currency (CBDC) Implementation Strategy in collaboration with R3, G42 Cloud and Clifford Chance. For Phase 1, R3 and G42 Cloud have been “selected as the technology and infrastructure providers of the initiative… Read More

March 21, 2023 @ 10:05 pm By JD Alois  |  

Florida Governor Ron DeSantis, widely expected to enter the presidential race in the coming months, is aiming to put a stop to central bank digital currency (CBDC) being utilized in his state, and all of the United States for that matter. “Central Bank Digital Currency… Read More

February 19, 2023 @ 7:35 pm By JD Alois  |  

As the world knows, most central banks in the developed world are investigating the benefits and risks of issuing digital currency. While the bulk of transactions is already handled electronically today, the thesis is that by incorporating new technology, a digital currency – or digital… Read More

February 9, 2023 @ 8:46 am By Omar Faridi  |  

Fireblocks Director of CBDC & Market Infrastructure Varul Paul has commented on the recent Bank of England Consultation paper focused on the development of the Digital Pound. Prior to Fireblocks, Varun spent 14 years “at the Bank of England, where he supported key decisions on interest… Read More

January 31, 2023 @ 10:47 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) announced the licensing of two finance companies that are “specialized in debt-based crowdfunding, namely: Forus and Tameed.” The licenses were “granted to the companies after successful testing of their solutions in SAMA’s Regulatory Sandbox; an experimental environment dedicated to innovative… Read More

December 26, 2022 @ 8:34 am By Omar Faridi  |  

A joint research effort between the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology into the technical feasibility of a potential central bank digital currency “is now complete.” The Boston Fed’s work on CBDC with MIT’s Digital Currency Initiative is known as… Read More

December 22, 2022 @ 10:07 pm By Omar Faridi  |  

The INX Digital Company, Inc. (NEO: INXD), a broker-dealer and inter-dealer broker – offering the first-ever SEC-regulated digital asset trading platform for both cryptocurrencies and security tokens, announced that it has officially entered into a strategic partnership with SICPA, which claims to be a global… Read More

December 12, 2022 @ 10:25 am By JD Alois  |  

The Bank of England has posted a request for applicants for a contracted service to create a proof of concept digital wallet for a Central Bank Digital Currency (CBDC). The Bank has been investigating the potential for a digital pound, similar to many other central… Read More

December 8, 2022 @ 9:02 am By JD Alois  |  

Nigeria is attempting to cajole its population into using digital payments as opposed to cash, according to multiple reports. One method of encouragement is limiting ATM withdrawals to just $45, making it difficult to use physical money. Of course, some point to this harsh policy… Read More

November 23, 2022 @ 10:32 am By JD Alois  |  

Warwick Business School held an event in recent days that discussed central bank digital currency (CBDCs), according to a note from the school. The Gillmore Centre Policy Forum heard Antoine Martin, a Senior VP of Research at the Federal Reserve Bank of New York, where… Read More

October 25, 2022 @ 9:36 pm By Omar Faridi  |  

Japan’s “only” international payment brand JCB Co., Ltd. has launched “JCBDC” (JCB Digital Currency) pilot project with identity technologies no. 1 IDEMIA and Fintech company Soft Space Sdn. Bhd. JCBDC pilot will “develop a CBDC (Central Bank Digital Currency) payment solution and conduct a pilot… Read More

October 14, 2022 @ 6:11 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) and Bank Indonesia recently announced the winners of the G20 TechSprint 2022 challenge during a live award ceremony in Jakarta. This year’s competition, under the Indonesian G20 Presidency, was launched in April to catalyze new technologies that “would better… Read More

October 2, 2022 @ 11:56 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) and the central banks of Israel, Norway and Sweden are launching Project Icebreaker, a joint exploration of how central bank digital currencies (CBDCs) can be “used for international retail and remittance payments.” Cross-border payments “continue to be plagued by… Read More

September 26, 2022 @ 11:48 pm By Omar Faridi  |  

The Central Bank of Iran (CBI) said this past Wednesday that it will “begin the pilot launch of crypto-rial as the bank’s digital currency as of Thursday.” The CBI has said that “the aim of designing the crypto-rial is to turn banknotes into a programmable… Read More

September 19, 2022 @ 10:47 pm By Omar Faridi  |  

EMTECH, a central banking infrastructure provider, announced it will take part in the recently announced Technical Sandbox Program by The Digital Dollar Project in order “to explore the new possibilities of a U.S. CBDC ‘Digital Dollar’.” As one of the 4 announced technical vendors, EMTECH… Read More

September 19, 2022 @ 10:04 am By JD Alois  |  

It has been widely reported that the European Central Bank (ECB), has selected Amazon (NASDAQ:AMZN) alongside CaixaBank, Worldline AS, Nexi SpA, and EPI, to participate in a prototyping exercise as part of a review of a Central Bank Digital Currency (CBDC) or digital Euro. The… Read More

August 12, 2022 @ 9:19 am By Omar Faridi  |  

Invest Hong Kong (InvestHK) and the Hong Kong Monetary Authority (HKMA) jointly announced the addition of the Central Bank Digital Currency (CBDC) track to the Global Fast Track 2022, “giving local and global firms valuable opportunities to partner with the central banking institution to boost… Read More