40+ Financial Firms Join Project Agorá to Enhance Cross-Border Payments Using Tokenization
More than 40 private sector financial firms have joined forces with the Bank for International Settlements (BIS) and a consortium of leading central banks in Project Agorá, a groundbreaking initiative aimed at enhancing wholesale cross-border payments through tokenization. The project is being facilitated by the Institute of International Finance (IIF) and represents a significant step […]
Ripple CEO Predicts Growing Demand for Japanese Yen Stablecoins
Brad Garlinghouse, CEO of Ripple, has expressed optimism about the future demand for stablecoins tied to the Japanese yen, predicting that it is only a matter of time before such digital currencies gain traction in Japan. “People will want to hold yen stablecoins, and I think that is only a matter of time,” Garlinghouse stated […]
SOOHO.IO Announces Strategic Partnership with Chainlink to Develop Tokenized Assets and CBDC Solutions in Asia
Blockchain financial technology company SOOHO.IO has announced a strategic partnership with Chainlink, a global blockchain leader. This collaboration aims to accelerate the development of tokenized assets and Central Bank Digital Currency (CBDC) use cases in emerging digital markets across Asia, particularly in Korea, Japan, and Thailand. The partnership will focus on supporting the adoption of […]
Bank of Japan’s CBDC Update: New API Sandbox for Digital Yen Development
The Bank of Japan (BoJ) recently shared insights from an interim report on its ongoing exploration into a central bank digital currency (CBDC), highlighting the launch of a CBDC API Sandbox earlier this month. This new phase of development draws inspiration from the Bank of England’s Project Rosalind and represents an advancement from the two […]
Phase 2 CBDC Pilot Transitions to Offline Payments, with JCB, IDEMIA, and Soft Space
The JCB Digital Currency (JCBDC) initiative, spearheaded by JCB in collaboration with IDEMIA and Soft Space, has entered its second phase. This project is focused on enhancing Central Bank Digital Currency (CBDC) transactions. During the initial phase, the team developed a CBDC payment system that allowed merchants to accept digital currency payments without altering their […]
Binance and MUTB Collaborate to Introduce New Stablecoins in Web3 Push in Japan
Binance Japan Inc and Mitsubishi UFJ Trust and Banking Corporation (MUTB) have commenced a joint study for the issuance of a new stablecoin pegged to fiat currencies, including the Japanese Yen and other foreign currencies. The collaboration seeks to bridge the gap between fiat currencies and the digital realm, with a focus on accelerating the […]
Japanese Startup Soramitsu Harnesses CBDCs and Stablecoins for Cross-Border Payments
Japanese Blockchain startup, Soramitsu, is embarking on a venture that involves harnessing stablecoins and central bank digital currencies (CBDCs) to forge connections among various Asian nations. Soramitsu’s initiative revolves around a cross-border payment system tailored for Asian countries. The company plans to integrate Cambodia’s CBDC and fiat-pegged stablecoins into its payment network, with a specific […]
Bank of Japan CBDC results highlight token-based CBDCs
Source: Ledger Insights In April, the Bank of Japan entered the pilot phase of its central bank digital currency (CBDC) work. Today it published the results of its second phase of the digital yen proof of concept work that ended in March. The central bank’s experiments targeted a wide range of topics. Two of the most interesting aspects of its work are the […]
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 […]
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 […]
