Hong Kong Concludes Initial Phase of CBDC Pilot Program

Hong Kong Concludes Initial Phase of CBDC Pilot Program

Hong Kong’s Monetary Authority has successfully completed the first stage of its experimental Central Bank Digital Currency (CBDC) initiative. The report issued on Monday brings clarity to the progress made, although it leaves the future implementation of e-HKD, the retail iteration of Hong Kong’s CBDC, in ambiguity. The pilot project has brought to light several […]

Mastercard’s CBDC Pilot Update: Bridging Ethereum and Digital Currencies

Mastercard's CBDC Pilot Update: Bridging Ethereum and Digital Currencies

Mastercard, collaborating with the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre, unveiled recent findings from their CBDC (Central Bank Digital Currency) experimental project on Thursday. A key highlight was a real-time transaction where an NFT (non-fungible token) was procured on the Ethereum blockchain using a “wrapped” variation of the CBDC, as […]

Canadian Securities Authorities Soften Stance on Stablecoin Trade

Canadian Securities Authorities Soften Stance on Stablecoin Trade

Canadian securities officials have recently elaborated on their preliminary approach to stablecoin trading, referring to them as value-based digital assets. The Canadian Securities Regulators (CSA), a collective of provincial and territorial regulators, highlighted the potential benefits of stablecoins to Canadian investors. With this, the CSA has indicated its inclination towards endorsing the trade of specific […]

Can Stablecoins Revolutionize Foreign Aid? The UN Thinks So.

Can Stablecoins Revolutionize Foreign Aid? The UN Thinks So.

Source: Blockworks If only stablecoins had been around in the late aughts. The likes of USDC and USDT would have provided a viable — and, potentially, game-changing — alternative for cash aid disbursements in Iraq and Afghanistan following the US’ invasion of both Middle Eastern countries, according to the chief investment officer of a crypto […]

Indonesia Wants to Counter ‘Shadow Central Banking’ With CBDC

Indonesia Wants to Counter ‘Shadow Central Banking’ With CBDC

Source: Blockworks In Indonesia, the central bank has formally laid out plans for a central bank digital currency (CBDC), pitched to combat what it calls rising “cryptoization” of the country’s digital economy. Bank Indonesia’s new CBDC white paper outlines how “shadow currencies” and “shadow central banking” are furthering unregulated credit creation around the world through crypto. Two […]