Bank of Russia to Pilot CBDC in April
Source: Coindesk The Bank of Russia’s central bank digital currency (CBDC), the digital ruble, is ready for its pilot phase, said the bank’s deputy governor, Olga Skorobogatova, on Friday. The project will be launched for peer-to-peer transfers between individuals and for retail purchases, Skorobogatova told journalists during a fintech conference in Russia. “The pilot will […]
BUSD Drama Sets Stage for Stablecoin Market Reshuffling
Source: Coindesk The uncertain future for embattled stablecoin Binance USD (BUSD) is stirring discord in the dollar-pegged crypto markets that one analyst says could accelerate into a dramatic reshuffling of the sector’s big winners and losers. With regulators this week forcing the issuer of BUSD to cease minting new tranches of the coin, Binance, the […]
UK economy has a needless £20 billion dependency on US stablecoins, research says
Source: City A.M. At a time when a struggling pound is contributing towards inflation that is harming everyday British consumers, an ‘unhealthy dependency on US stablecoins’ is hamstringing the UK economy, according to new research. A report by UK stablecoin issuer Poundtoken and crypto accounting firm Myna says 99% of the global stablecoin market-cap is unnecessarily tied to the […]
Ukraine Speeds Up Digital Hryvnia Project, Plans Pilot for This Year
Source: Bitcoin.com Ukrainian authorities are speeding up the development of the electronic hryvnia, a high-ranking government official indicated. The executive power in Kyiv is now in talks with the central bank and businesses involved in the project to pilot the digital currency as early as this year. Minister Says Ukraine Aims to Launch Digital Hryvnia […]
The digital pound is right on time to underpin the UK’s transition to a digital economy
Source: CityAM | Written by Jannah Patchay, Policy Lead at the Digital Pound Foundation The public debate around whether or not Britain should have a digital pound entered a new dimension this week. Statements were issued by both the Chancellor of the Exchequer, Jeremy Hunt, and the Governor of the Bank of England, Andrew Bailey, announcing the […]
Commercial stablecoin issuance – Part I: Considerations and benefits
Source: Quant Banks around the world – including some well-known global brands – have begun issuing their own digital currency known as commercial stablecoins. The benefits are significant but it’s not all plain sailing: there are a variety of factors to consider before implementing. Not to be confused with algorithmic stablecoins, commercial stablecoins are a […]
The digital pound − speech by Jon Cunliffe at UK Finance
Source: Bank of England | Photograph of Jon Cunliffe via Flickr by Felix Clay Speech As some of you may have seen, the Bank of England and the Treasury have today published, as a Consultation Paper, the report of the Bank of England – HM Treasury Taskforce on the introduction in the UK of a central […]
The digital pound: Technology Working Paper
Source: Bank of England This paper accompanies a Consultation Paper on the digital pound and outlines the Bank of England’s emerging thinking on CBDC technology. Overview This paper accompanies a Consultation Paper on the digital pound and outlines the Bank of England’s emerging thinking on CBDC technology. It explores technology design considerations which help to form a […]
The digital pound: A new form of money for households and businesses?
Source: Bank of England Consultation description HM Treasury and the Bank of England have published a joint consultation. The consultation paper sets out analysis by HM Treasury and the Bank of England on the potential case for a UK central bank digital currency – a “digital pound” and consult on the key features of a […]
Euro stablecoin launched in Finland, claims to be first approved in the EU
Source: Cointelegraph Finnish company Membrane Finance has released a fully-reserved stablecoin backed by the euro, according to a Feb. 2 blog post from the company. The company is licensed by the Finnish Financial Supervisory Authority (Fin-FSA) and claims that the new ”EUROe” coin is “the first and only EU-regulated crypto stablecoin.” United States-based Circle Inc. […]
