Bank of America Says CBDCs Are the Future of Money and Payments

Bank of America Says CBDCs Are the Future of Money and Payments

Source: Coindesk Digital currencies, such as central bank digital currencies (CBDCs) and stablecoins, are the natural evolution of money and payments, Bank of America said in a research report on Tuesday. “CBDCs do not change the definition of money, but will likely change how and when value is transferred over the next 15 years,” analysts […]

Turkish Central Bank Runs First CBDC Tests

Turkish Central Bank Runs First CBDC Tests

Source: Coindesk The Central Bank of Turkey (CBRT) has conducted the first tests of its Turkish digital lira. According to a statement released on Thursday, the CBRT successfully carried out the first payment transactions on its central bank digital currency (CBDC) network as part of an initial test phase. “In the first quarter of 2023, […]

Kazakhstan to Press On With CBDC Development Until 2025

Kazakhstan to Press On With CBDC Development Until 2025

Source: Coindesk Kazakhstan will continue looking into a central bank digital currency (CBDC) until 2025 at least, the central bank said in a report published Thursday. In December 2021, the country said it was piloting a CBDC on R3’s Corda platform and would make a decision on whether to introduce one by the end of this year. In October, Binance CEO […]

Spain’s Central Bank Opens Call for Proposals for a Wholesale CBDC Project

Spain’s Central Bank Opens Call for Proposals for a Wholesale CBDC Project

Source: Coindesk The Bank of Spain plans to start a wholesale central bank digital currency (CBDC) project and on Monday opened a call for proposals from financial institutions and technology solution providers. The program seeks to simulate the funds movement operations of a wholesale CBDC, the bank said in an official statement, adding that it also […]

France, Luxembourg Test CBDC for 100M Euro Bond Issue

France, Luxembourg Test CBDC for 100M Euro Bond Issue

Source: Coindesk France and Luxembourg have used an experimental central bank digital currency (CBDC) to settle a bond worth 100 million euros (US$104 million), the latest in a series of trials in tokenized financial markets. The Venus Initiative “shows how digital assets can be issued, distributed and settled within the eurozone, in a single day” […]

Bank of Japan to Run CBDC Experiments With Country’s Megabanks: Report

Bank of Japan to Run CBDC Experiments With Country's Megabanks: Report

Source: Coindesk The Bank of Japan (BoJ) has planned experiments on a digital yen with three megabanks and regional banks in the country, Nikkei reported on Wednesday. Starting in the spring of 2023, the BoJ will work with private banks and other organizations to identify any problems with deposits and withdrawals, and check that a central bank […]

David Chaum Rolls Out Privacy-Protecting CBDC Technology

David Chaum Rolls Out Privacy-Protecting CBDC Technology

Source: Coindesk Will central bank digital currencies (CBDCs) replace cash and bank transfers in the future? And will they be an ultimate tool for financial surveillance and control, or is another, more benign future possible? David Chaum, creator of the Bitcoin predecessor eCash and, more recently, the Elixxir cryptocurrency, believes the democratic world can have a version of […]

India’s Central Bank to Start Wholesale CBDC Pilot Nov. 1

India's Central Bank to Start Wholesale CBDC Pilot Nov. 1

Source: Coindesk India’s central bank will introduce a pilot wholesale central bank digital currency (CBDC) Nov. 1, and a retail version will start within a month. In a statement, the Reserve Bank of India (RBI) said the use case for the wholesale digital rupee is the “settlement of secondary market transactions in government securities” because it […]

UK Stablecoin Rules Approved by Lawmaker Committee

UK Stablecoin Rules Approved by Lawmaker Committee

Source: Coindesk U.K. lawmakers agreed on new rules for stablecoins on Thursday – as the government promised to consult on further crypto regulations and a digital pound in the coming weeks. In April, Rishi Sunak – at the time finance minister, but since promoted to prime minister – said he wanted to make the U.K. […]

Central Bank of Turkey Plans to Launch a CBDC in 2023

Central Bank of Turkey Plans to Launch a CBDC in 2023

Source: Coindesk Turkey is poised to launch a central bank digital currency (CBDC) next year. Turkey’s Presidential Annual Program for 2023, presented on Monday by the Presidential Strategy and Budget Directorate, contains the discussion of a central bank digital currency. The announcement came a year after Turkey’s central bank announced in September 2021 that it […]