Parfin Unveils Rayls to Enhance Privacy in Brazil’s CBDC Drex
Parfin, a financial technology firm, has developed Rayls, a new blockchain system designed to bolster privacy for Brazil’s central bank digital currency (CBDC), drex. Rayls operates in a permissioned mode, requiring Know Your Customer (KYC) compliance for all accounts, while also integrating with public blockchains via Rayls Public Chain, an Ethereum layer two (L2) solution. […]
Mauritania Central Bank Collaborates with Giesecke+Devrient to Develop a National CBDC
The Central Bank of Mauritania (CBM) has partnered with the German security technology company Giesecke+Devrient (G+D) to create and launch a digital version of its national currency, the Ouguiya. This collaboration aims to explore the potential benefits and requirements of a Central Bank Digital Currency (CBDC) in Mauritania. The goal of the agreement between CBM […]
Hong Kong Introduces Stablecoin Issuer Sandbox for Emerging Crypto Businesses
The Hong Kong Monetary Authority (HKMA) has introduced a new initiative for stablecoin issuers, termed the stablecoin issuer sandbox arrangement. This initiative is designed as a communicative bridge between the HKMA and entities interested in the stablecoin market. It aims to set clear regulatory expectations for those issuing fiat-backed stablecoins and offers a platform for […]
Project Agila to Finalise Philippines Wholesale CBDC Pilot in 2024
The Bangko Sentral ng Pilipinas (Philippines Central Bank) is set to finalise its wholesale CBDC pilot, known as Project Agila, within the year. The project, which sees the collaboration of six local financial institutions, is exploring the potential of using CBDC for securities transactions, as indicated by Mamerto Tangonan, the Deputy Governor for Payments and […]
Egypt Sets Sight on 2030 for Launching E-Pound CBDC, Aiming for Complete Financial Inclusion
Egypt is reportedly on track to introduce its own central bank digital currency (CBDC), known as the e-pound, by 2030. This initiative, led by the Central Bank of Egypt (CBE), is aimed at enhancing the competitiveness of the country’s national currency and improving the effectiveness of its monetary policy. A report detailing Egypt’s strategic economic […]
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 […]
Mexican CBDC Unlikely to Be Ready by 2024
Source: Bitcoin.com The Mexican central bank digital currency (CBDC), the digital peso, is unlikely to be ready by 2024, as was announced back in 2021 by the Mexican government. In a statement, representatives from Banxico, the central bank of Mexico, stated the development of the currency was still in its initial stages, and there is […]
Bill on Digital Ruble Submitted to Russian Parliament
Source: Bitcoin.com A group of Russian lawmakers, led by the Chairman of the Financial Market Committee Anatoly Aksakov, have submitted draft legislation on the digital ruble, the central bank digital currency (CBDC) minted by Russia’s monetary authority. The document suggests legislative changes meant to create the conditions for its introduction. According to the explanatory notes […]
National Bank of Kazakhstan Publishes Whitepaper for Digital Tenge
Source: Bitcoin.com The National Bank of Kazakhstan (NBK) has announced the successful completion of the second stage of testing of the platform for its central bank digital currency (CBDC). The results of the trials and the study on the need for the new version of the national fiat, the tenge, have been presented in a whitepaper published […]
Argentine Province of San Luis to Issue Dollar-Pegged Stablecoin and Local Art NFTs
Source: Bitcoin.com San Luis, a province of Argentina, has approved a bill allowing it to issue a blockchain-based, dollar-pegged stablecoin. The bill, which also approves the issuance of local artistic assets as NFTs (non-fungible tokens) seeks to enable the promotion of social development, and economic, cultural, and financial inclusion using blockchain. San Luis Approves Blockchain […]
