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. […]
Norway’s Central Bank Explores Future of Finance with Fifth Round of CBDC Trials
Norges Bank, the banking regulator of Norway, recently announced the completion of its fourth round of central bank digital currency (CBDC) studies. However, the findings have somewhat cooled the enthusiasm for introducing a retail CBDC. In their detailed 20-page report, Norges Bank indicated that the well-developed local payment ecosystem might increase the chances of conducting […]
Hong Kong Aims for Stablecoin Regulatory Clarity by 2024
Hong Kong is deepening its commitment to crafting a stablecoin regulatory framework, as recently shared by local lawmaker Duncan Chiu. Over the last two years, Hong Kong has been engaged in developing guidelines for stablecoins. Early in the previous year, the Hong Kong Monetary Authority (HKMA) released a discussion document on this matter. Fast forward […]
Pakistan’s State Bank Eyes CBDC Launch by 2025 Amid Global Innovation Pace
The State Bank of Pakistan (SBP) has expressed its interest in launching a central bank digital currency (CBDC) experiment, adopting a cautious approach to its development. SBP Governor Jameel Ahmad stated that the bank aims to accelerate CBDC development in the coming months to keep pace with global innovation. There are hints that a CBDC […]
India, UAE central banks collaborate on CBDCs with cross-border features
Source: Coingeek The Reserve Bank of India (RBI) and the Central Bank of the UAE (CBUAE) have announced that both entities will exchange ideas on the best ways to launch a central bank digital currency (CBDC). The plans were contained in a memorandum of understanding (MoU) signed by both parties that will see both banking regulators conduct joint proof-of-concept […]
NY Federal Reserve testing CBDCs to improve foreign exchange transactions
Source: CoinGeek The New York Federal Reserve (NY Fed), in conjunction with the Bank for International Settlements (BIS) Innovation Hub, is looking into the use of central bank digital currency (CBDC) to streamline the settlement times of foreign exchange (FX) transactions. The exploration is part of Project Cedar, an experiment conducted by the BIS to test the […]
