Nigeria’s Central Bank in Talks With Blockchain Platform R3 for CBDC Revamp: Bloomberg
Source: Coindesk The Central Bank of Nigeria (CBN) is looking to develop a new system for its digital currency, the eNaira, and is in early-stage talks with New York-based blockchain firm R3, Bloomberg reported on Tuesday, citing people familiar with the matter. The CBN wants to “develop its own software for the digital currency so that it […]
Bank of Russia to Pilot CBDC in April
Source: Coindesk The Bank of Russia’s central bank digital currency (CBDC), the digital ruble, is ready for its pilot phase, said the bank’s deputy governor, Olga Skorobogatova, on Friday. The project will be launched for peer-to-peer transfers between individuals and for retail purchases, Skorobogatova told journalists during a fintech conference in Russia. “The pilot will […]
BUSD Drama Sets Stage for Stablecoin Market Reshuffling
Source: Coindesk The uncertain future for embattled stablecoin Binance USD (BUSD) is stirring discord in the dollar-pegged crypto markets that one analyst says could accelerate into a dramatic reshuffling of the sector’s big winners and losers. With regulators this week forcing the issuer of BUSD to cease minting new tranches of the coin, Binance, the […]
Are There Tech Solutions to the Privacy and Compliance Trade-Offs for CBDCs?
Source: Coindesk This article is part of CoinDesk’s Policy Week. John Kiff, a former senior financial sector expert at the IMF, is the research director at the Sovereign Official Digital Association (SODA), head of CBDC/digital capital markets advisory at Satoshi Capital Advisers and advisor to WhisperCash. Dr. Jonas Gross is chairman of the Digital Euro Association […]
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
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
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
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
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
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 […]
