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 […]
UAE Unveils CBDC Strategy, First Phase to Be Completed by Mid-2024
Source: Coindesk The United Arab Emirates expects to complete the first phase of its central bank digital currency strategy around mid-2024, its central bank announced on Thursday. This includes proof-of-concept work for a wholesale and retail CBDC. The Central Bank of UAE (CBUAE) also revealed an engagement with G42 Cloud, a cloud platform from the region, and New […]
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 […]
UAE Central Bank launches programme to boost digital transformation in financial services
Source: The National The UAE’s Central Bank has announced a new programme to accelerate digital transformation in the financial services sector, with initiatives spanning open finance and a new digital currency. The Financial Infrastructure Transformation Programme also includes a domestic card scheme, an instant payments platform, financial cloud and supervisory technology, the Central Bank said in […]
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, […]
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, […]
Using CBDCs across borders: lessons from practical experiments
Unlocking $120 Billion Value In Cross-Border Payments: How banks can leverage central bank digital currencies for corporates
Multiple CBDC (mCBDC) Bridge
