New DPF Working Group launches to uncover real-world use cases for a digital Pound
The Digital Pound Foundation (DPF) is delighted to announce the launch of its Use Case Working Group co-led by Andrew Dare, CGI, and William Lorenz, DPF Expert Contributor, and would like to invite existing – and new – DPF members to participate. This is a practical Working Group looking to uncover real-world use cases for […]
UK Treasury minister says wholesale stablecoin will precede CBDC
Source: Ledger Insights The UK’s Treasury envisages a private wholesale stablecoin launching before a central bank digital currency (CBDC). Enabling legislation, the Financial Services and Markets Bill (FSM), covers stablecoins and is expected to pass around April. If the Bank of England launches a CBDC, the first use case is likely to be interbank settlements using a wholesale CBDC. […]
Five associations form industry alliance to guide the UK’s digital currency future
Source: UK Finance Five associations have come together to form a new alliance – the UK Forum for Digital Currencies (UK FDC) – which will celebrate innovation and collaboration across the payments industry Members include the City of London Corporation, Digital Pound Foundation, The Payments Association, TheCityUK and UK Finance. The aim of the alliance is to develop better policies, practice and regulation […]
The Geopolitics of CBDCs
Written by Jannah Patchay, Policy Lead for the Digital Pound Foundation Central bank digital currencies (CBDCs) – a digital form of central bank-issued fiat currency – have seen explosive growth in interest over the past four years. At the start of 2023, 114 countries, representing 95% of global GDP, are currently exploring CBDC, of which 60 […]
BoE engages external experts for CBDC projects
Source: Global Government Fintech The Bank of England (BoE) is advancing its research into the technical possibilities of a potential central bank digital currency (CBDC) by engaging a consultancy, Consult Hyperion, on a pair of assignments each carrying a value of more than £100,000 (about $122,000), Global Government Fintech can reveal. A decision has yet to be […]
Bank of England publishes list of questions asked by suitors for its CBDC wallet
Source: City A.M. The Bank of England has revealed the details of more than 70 questions asked by applicants keen to win the contract to create a wallet for its CBDC experiment. A total of 20 companies submitted applications for the £200,000 five-month project, with almost all handing in a series of questions before Christmas. […]
Bank of England receives 20 applications to develop CBDC wallet prototype
Source: CityAM Twenty companies have submitted applications to create a digital wallet for the Bank of England’s CBDC project. The bank underlined its desire to pursue a central bank digital currency by putting a contract for a sample wallet out to tender only three weeks ago, setting a deadline to complete applications by December 23. […]
Stablecoins: Policy and Regulatory Challenges | Poundcast Episode 4
In this episode, our host Jannah Patchay, policy lead and one of the originating members of the Digital Pound Foundation, interviews Teana Baker-Taylor, Vice President, Policy & Regulatory Strategy for UK/EU at Circle, on stablecoins and the policy and regulatory challenges they present, as well as how they relate to Central Bank Digital Currencies. How […]
Bank of England opens applications for ‘proof of concept’ CBDC wallet
Source: Cointelegraph The Bank of England (BOE) is seeking a “proof of concept” for a wallet that will be able to hold a central bank digital currency (CBDC). On Dec. 9, the BOE posted a request for applications on the United Kingdom government’s Digital Marketplace, a service where government organizations can solicit work for digital projects. Simple […]
BoE’s Cunliffe: FTX collapse demonstrates need for crypto regulation
Source: Investment Week The collapse of FTX provides a “compelling demonstration” of why greater regulation of the cryptoassets space is necessary, said Jon Cunliffe, deputy governor of the Bank of England, in a speech yesterday (21 November). Describing the collapse as “probably the largest – and certainly the most spectacular – failure to date in […]
