India Targeting One Million CBDC Users in Three Months, Prioritizing Offline Transfers: Sources
Source: Coindesk India’s retail central bank digital currency (CBDC-R) architects are aiming to scale the user base of the digital rupee to one million users, and have prioritized solving the challenge of creating an offline version, two people familiar with the matter told CoinDesk. Although RBI officials publicly stated in March they were aiming for 500,000 […]
Snapshot: Which countries have made the most progress on CBDCs so far in 2023
Source: Atlantic Council 2023 is already shaping up to be a major year in central bank digital currency (CBDC) exploration. As of March 1, sixty-five countries are in the advanced stage of development, and over twenty central banks have launched their pilots, including Brazil, Japan, and Russia. To dive deeper into these countries, follow our CBDC […]
India, UAE central banks collaborate on CBDCs with cross-border features
Source: Coingeek The Reserve Bank of India (RBI) and the Central Bank of the UAE (CBUAE) have announced that both entities will exchange ideas on the best ways to launch a central bank digital currency (CBDC). The plans were contained in a memorandum of understanding (MoU) signed by both parties that will see both banking regulators conduct joint proof-of-concept […]
India explores offline functionality of CBDCs — RBI executive director
Source: Cointelegraph India’s recently launched in-house central bank digital currency (CBDC) — the digital rupee — is now being tested for offline functionality, revealed Ajay Kumar Choudhary, executive director of the Reserve Bank of India (RBI). The RBI — India’s central bank and regulatory body — launched the wholesale segment pilot for the digital rupee on Nov. 1, 2022, onboarding 50,000 users and 5,000 […]
India’s retail giant Reliance to accept CBDC at stores
Source: TechCrunch Reliance Retail, India’s largest retail chain, will start accepting retail payments in digital rupee in a move that could supercharge the adoption of the country’s recently launched CBDC. The Mukesh Ambani-led firm said it has partnered with ICICI Bank, Kotak Mahindra Bank and fintech Innoviti Technologies to launch the in-store support for digital rupee. […]
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 […]
Indian central bank on track to launch retail CBDC pilot next month
Source: CryptoSlate The Reserve Bank of India (RBI), the country’s central bank, is finalizing the rollout of the retail digital rupee pilot, the Economic Times of India (ETI) reported on Nov. 19. The RBI initiated the wholesale central bank digital currency (CBDC) pilot on Nov. 1 to test its usage in settling transactions in government securities. At the time, […]
‘Missing the big picture’: Zerodha’s Nikhil Kamath responds to critics of RBI’s e-rupee trial
Source: Mint This month the Reserve Bank of India (RBI) made a historic decision for India’s banking ecosystem. The federal bank started a pilot program of its digital currency allowing select banks to use it for settling secondary-market transactions in government bonds. The RBI Governor termed the launch of the central bank digital currency (CBDC) as a […]
India’s Central Bank to Start Wholesale CBDC Pilot Nov. 1
Source: Coindesk India’s central bank will introduce a pilot wholesale central bank digital currency (CBDC) Nov. 1, and a retail version will start within a month. In a statement, the Reserve Bank of India (RBI) said the use case for the wholesale digital rupee is the “settlement of secondary market transactions in government securities” because it […]
India’s Central Bank Crystalizes CBDC Vision in Concept Note
The Reserve Bank of India (RBI) has published a 50-page concept note for the introduction of a central bank digital currency (CBDC). The document is the first such comprehensive report by the RBI’s Fintech Department, which was created in January 2022 with the responsibility of forming cryptocurrency regulations and creating a central bank digital currency. The RBI said it […]