CBDC platforms are revolutionising financial inclusion
Source: OMFIF, written by Koji Fusa For many of those involved in implementing central bank digital currency platforms, the goal is the same: financial inclusion. While most households can access some form of digital payments, there are still 2.5bn people globally who do not have bank accounts. Without a bank account and, subsequently, no payment history to show, credit for this population is not guaranteed and they may fall victim to […]
Multi-CBDC cross-border payments systems inch closer to reality
Source: OMFIF Improving cross-border payments is a key priority for the G20. At the 2023 Digital Monetary Institute symposium in London, Tommaso Mancini-Griffol, deputy division chief of monetary and capital markets at the International Monetary Fund, said that Libra, Facebook’s attempt at a global currency, delivered a ‘collective shock’ to the public sector. He highlighted the inadequacies of […]
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 […]
Ripple Launches CBDC Platform for the Development of CBDCs and Stablecoins
Source: Ripple Full-service platform allows user to seamlessly mint, manage, transact and redeem CBDCs and stablecoins With more than 90% of countries exploring, developing and implementing Central Bank Digital Currencies (CBDCs) as a way to increase financial inclusion and lower the cost and risk of domestic and cross-border payment processes, today Ripple is announcing the Ripple CBDC Platform, […]
Project mBridge: Connecting Economies Through CBDCs, Cross-Border Payments, and FX
About this webinar Building on the G20’s priority to experiment with the use of new technologies to deliver real-time, cheaper and safer cross-border payments and settlements, the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority, the Bank of Thailand, the Digital Currency Institute of the People’s Bank of China and the Central […]
Project Polaris: Handbook for offline payments with CBDC
Source: BIS DOWNLOAD THE HANDBOOK A survey conducted by the BIS Innovation Hub Nordic Centre shows that 49% of central banks consider offline payments with retail CBDC to be vital, while another 49% deemed it to be advantageous. Providing offline payments with CBDC is an important requirement for many central banks for reasons such as […]
The Future of Central Bank Digital Currency
Source: Ripple As 2023 unfolds, the future of digital currencies backed by central banks is accelerating. According to a new report from Juniper Research, the global value of central bank digital currencies (CBDCs) will grow dramatically from $100 million today to $213 billion by 2030. Why is this high growth in CBDC adoption and use […]
Visa to Develop Brazilian Blockchain-powered CBDC Project
Source: Cryptonews The payments giant Visa has unveiled a new blockchain and central bank digital currency (CBDC) project in Brazil. Per the Brazilian media outlet Livecoins, the firm was selected by the Brazilian central bank to “explore” blockchain technology-powered “usage cases” for the prototype digital real. The bank is hopeful of debuting its coin later this year. It has also claimed that […]
Digital Pound Foundation joins the Hyperledger Foundation as an Associate Member
We are pleased to announce that the Digital Pound Foundation (DPF) has joined the Hyperledger Foundation as part of a group of 3 new Associate Members which includes the European Blockchain Association (EBA) along with DPF’s existing partners at the Digital Euro Association (DEA). To kick off their affiliation, the 3 new associate members, including […]
CBDCs in the spotlight at IFGS 2023
Source: Quant Innovate Finance’s Global Summit took place last week in London and central bank digital currencies were at the heart of the dialogue. Government ministers, central bankers, and commercial bank representatives all agreed: it’s now a question of how – not whether – to implement CBDCs. In his keynote address at Innovate Finance Global […]
