Swift Advances in Interconnecting Central Bank Digital Currencies with Latest Testing Phase
Swift, the global financial messaging service, is steering ahead in its mission to bolster the interoperability of Central Bank Digital Currencies (CBDCs) by launching a groundbreaking beta solution, currently under evaluation by three central banks. Additionally, over 30 financial entities have engaged in exploring the extensive applications of this solution through a newly introduced sandbox. […]
Hong Kong Monetary Authority to Prepare for Retail CBDC
Source: Coindesk The Hong Kong Monetary Authority (HKMA) has said it will start laying the foundation to implement a retail central bank digital currency in a report published on Friday. Although it had been looking into the development of a digital version of the Hong Kong dollar – dubbed “e-HKD” –since at least 2017, a recent study […]
CBDCs on the horizon: The current state of CBDC initiatives around the world
Source: Cointelegraph Central bank digital currencies (CBDCs) have long been a topic of contested discussion, having often been met with a predominantly negative response in the crypto community. However, despite the skepticism, CBDCs undeniably serve as a significant use case for blockchain technology. BDCs distributed through blockchain technology can provide cheaper, faster and possibly more […]
Ripple to Showcase Real Estate Asset Tokenization Solution as part of the Hong Kong Monetary Authority’s Inaugural e-HKD Pilot Programme
Source: Ripple Ripple, the leader in enterprise blockchain and crypto solutions, announced today that it has been selected to showcase a real estate asset tokenization solution as part of the Hong Kong Monetary Authority’s (HKMA) inaugural e-HKD Pilot Programme. The HKMA has adopted a three-rail approach to prepare for the possible rollouts of the e-HKD. As a leading […]
Hong Kong to run e-HK CBDC trials with 16 firms
Source: Finextra The Hong Kong Monetary Authority has selected 16 firms to participate in trials of an e-HK CBDC pilot programme. The central bank committed to exploring further the potential for a retail central bank digital currency (CBDC) in September, after a positive response to consultations scoping out the technical and policy perspectives. The first round of […]
The State of Global CBDC Adoption with Darrell Duffie
Source: Ripple Each quarter we’ll be going under the hood with professors from Ripple’s University Blockchain Research Initiative (UBRI) to gain a deeper understanding of trending topics in crypto and blockchain, and highlight their insights and key takeaways. There seem to be almost as many opinions about the viability and best use of Central Bank Digital Currencies […]
BIS releases full report on mBridge wholesale CBDC platform after successful pilot
Source: Cointelegraph The Bank for International Settlements (BIS) has released the full details of its mBridge pilot project to use central bank digital currencies (CBDCs) for foreign exchange. Commercial banks in four jurisdictions made cross-border transfers using CBDCs and distributed ledger (blockchain) technology in the project, which was heralded as a success. Twenty commercial banks in Hong Kong, […]
Project Aurum: a prototype for two-tier central bank digital currency (CBDC)
Source: BIS Project Aurum is a collaboration between the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority, and the Hong Kong Applied Science and Technology Research Institute. Aurum is a full-stack (front-end and back-end) central bank digital currency (CBDC) system comprising a wholesale interbank system and a retail e-wallet system. The aim was […]
Landmark International CBDC Test Deemed Success, BIS Says
Source: Coindesk A project involving multiple Asian central bank digital currencies (CBDC) has been badged a success, facilitating over $22 million in foreign-exchange transactions, the Bank for International Settlements (BIS) said Tuesday. The trial, described as the first of its kind ever, used a custom-built distributed-ledger technology platform, is supported by central banks from China, […]
Hong Kong Monetary Authority to Begin CBDC Trials in Q4: Report
Source: Coindesk The Hong Kong Monetary Authority (HKMA) plans to start trials of its central bank digital currency (CBDC) in the fourth quarter, the South China Morning Post (SCMP) reported Tuesday, citing a media briefing. Hong Kong’s de facto central bank now plans to lay the technology and legal foundations to support the development of “e-HKD” while exploring […]