CBDCs: A New Chapter in Global Banking

CBDCs: A New Chapter in Global Banking

Source: Ripple The emergence of blockchain technology, coupled with real-world use cases and the dramatic free fall in global cash usage have led to a surge in CBDC research and development today.  Nine out of ten central banks are actively exploring CBDCs, and Juniper Research predicts CBDC payments will reach $213 billion by 2030. This boom is […]

BIS: Stablecoins vs. Tokenized Deposits – Implications for the Uniqueness of Currency

BIS: Stablecoins vs. Tokenized Deposits - Implications for the Uniqueness of Currency

The modern monetary system rests upon a fundamental concept known as the “uniqueness of currency.” This principle ensures that monetary transactions are not subject to fluctuating exchange rates between various forms of money, whether they are privately issued (e.g., deposits) or publicly issued (e.g., cash). The uniqueness of currency establishes an unequivocal unit of account […]

Visa Expands Stablecoin Settlements with Solana and Partners Worldpay and Nuvei

Visa Expands Stablecoin Settlements with Solana and Partners Worldpay and Nuvei

Visa is taking significant steps to modernise cross-border money transfers, with plans to expand its stablecoin settlement capabilities to the Solana blockchain. The company is collaborating with merchant acquirers Worldpay and Nuvei to facilitate this development. Visa has already initiated live pilots with issuers and acquirers, effectively moving millions of USDC (USD Coin) between its […]

Citi Survey Reveals Rising Momentum for CBDCs in Accelerating Settlements

Citi Survey Reveals Rising Momentum for CBDCs in Accelerating Settlements

Escalating approval of Central Bank Digital Currencies (CBDCs) receives reinforcement from ongoing domestic trials and transnational endeavours in diverse jurisdictions, according to a study conducted by the prominent banking institution, Citi. In the context of discussions aiming to truncate local financial settlement cycles within the forthcoming five years, the majority of securities firms are setting […]

Zimbabwe In Advanced Stages of Implementing Gold-Backed Digital Currency (GBDT)

Zimbabwe In Advanced Stages of Implementing Gold-Backed Digital Currency (GBDT)

The Reserve Bank of Zimbabwe (RBZ) has announced that it is in the advanced stages of implementing the Gold Backed Digital Tokens (GBDT) as a new form of currency for everyday transactions. These digital tokens, backed by gold, have been introduced with the dual purpose of strengthening the national currency and providing an alternative investment […]

PayPal Launches U.S. Dollar Stablecoin

PayPal Launches U.S. Dollar Stablecoin

PayPal, a prominent player in the payments industry, has unveiled its new U.S. dollar stablecoin, signaling its entry into the realm of digital currencies for payments and transfers. This move has been met with cautious optimism and has given a modest 2.66% boost to PayPal’s shares. Unlike the volatility witnessed in cryptocurrencies, stablecoins are designed […]