BIS Outlines Six New Projects Focussed on Tokenization, AI and Big Data, Privacy and Security, and Environmental Sustainability
The Bank for International Settlements (BIS) has outlined its 2024 work programme, introducing six new projects focusing on digital financial technologies. These projects aim to address various challenges in the financial sector, including security and environmental sustainability. The upcoming projects in the 2024 agenda include: Cecilia Skingsley, Head of the BIS Innovation Hub, commented on […]
Palau Embarks on Phase Two of Innovative Stablecoin Project with Ripple
The Ministry of Finance of Palau has officially launched the second phase of the Palau Stablecoin (PSC) program. This phase aims to enhance the digital currency’s utility and reach by prioritizing the development of a digital ecosystem and increasing user engagement, while ensuring adherence to regulatory compliance. Jay Hunter Anson, a cybersecurity consultant in Palau […]
The Digital Evolution of Money, a New Whitepaper from Ripple
The financial world stands on the brink of a historic transformation, as Central Bank Digital Currencies (CBDCs) are rapidly evolving. Ripple, a member of the Digital Pound Foundation, has this week published a brand new whitepaper entitled “The Digital Evolution of Money” and is a must-read for policymakers, financial experts, and anyone interested in the […]
Ripple: Demystifying Central Bank Digital Currencies
Source: Ripple Central Bank Digital Currencies (CBDCs) have been making waves in the world of finance, offering a groundbreaking intersection between traditional fiat currencies and the digital realm. In this first piece of a broader series, we will delve into the world of CBDCs, explaining what they are, how they work, and why they are becoming […]
S&P Global Ratings Unveils New Stablecoin Stability Assessment
S&P Global Ratings has today unveiled a new stablecoin stability assessment framework which evaluates stablecoins on a scale from 1 (very strong) to 5 (weak), considering asset quality risks, including credit, market, and custody risks. The framework also examines overcollateralisation requirements, liquidation mechanisms, governance, legal and regulatory frameworks, redeemability, liquidity, technology, third-party dependencies, and track […]
Bokolo Cash: The Solomon Islands’ New Digital Currency Initiative
The Solomon Islands’ Central Bank has initiated a trial for a new digital currency, named Bokolo Cash. This project, supported by the Japanese blockchain company Soramitsu, aims to introduce a central bank digital currency (CBDC) equivalent to one Solomon Islands dollar. Bokolo Cash will be usable in retail environments within Honiara, the nation’s capital, and […]
New Zealand Dollar-Pegged Stablecoin NZDD Debuts on Crypto Exchange
A stablecoin pegged to the New Zealand dollar has been launched in a collaboration between New Zealand’s Easy Crypto exchange and Australian blockchain developer Labrys. Announced on November 22, the NZDD is backed on a 1:1 basis with cash in trust and is under the regulatory oversight of New Zealand’s Financial Markets Authority. Initially available […]
The Future of Finance: BIS General Manager Highlights Cybersecurity in CBDC Development
In a significant gathering convened by the Bank for International Settlements (BIS) in Basel, Switzerland, Agustín Carstens, the General Manager of BIS, underscored the pivotal role of cybersecurity in the realm of Central Bank Digital Currencies (CBDCs). Addressing a global assembly of financial experts, Carstens heralded CBDCs as the cornerstone of a rapidly approaching digital […]
The Truth About Stablecoins: Are They as Stable as Promised?
In the dynamic world of cryptocurrency, stablecoins have emerged as a promising bridge between traditional finance and the novel crypto market. A new paper from the Bank for International Settlements delves into this growing sector, questioning the ‘stability’ of stablecoins—a key selling point that distinguishes them from their more volatile counterparts. Stablecoins, designed to be […]
Poundcast Episode 12: Stablecoins and the future of finance, with Ramy Soliman of Stablecoin Standard
In this episode of Poundcast, host Jannah Patchay is joined by Ramy Soliman, Policy Lead and Co-Founder of Stablecoin Standard and President at GMO Trust – a New York regulated stablecoin issuer, as he discusses his journey into the world of stablecoins and his interest in the space. Ramy shares his experience working in the […]