IMF offers Jordan’s central bank recommendations for implementing retail CBDC
Source: Cointelegraph The Central Bank of Jordan is closer to its next step toward a retail central bank digital currency (rCBDC) with the completion of an International Monetary Fund technical report on the country’s markets. The IMF conducted a three-month mission last year to assist the bank with preparations for a CBDC feasibility report. The […]
Euro stablecoin launched in Finland, claims to be first approved in the EU
Source: Cointelegraph Finnish company Membrane Finance has released a fully-reserved stablecoin backed by the euro, according to a Feb. 2 blog post from the company. The company is licensed by the Finnish Financial Supervisory Authority (Fin-FSA) and claims that the new ”EUROe” coin is “the first and only EU-regulated crypto stablecoin.” United States-based Circle Inc. […]
UK-native stablecoin integrates into 18,000 ATMs nationwide
Source: Cointelegraph A partnership between Poundtoken and BitcoinPoint will make the country’s first 100%-backed British pound stablecoin, GBPT, accessible to retail consumers via a network of 18,000 ATMs across the United Kingdom. The move marks another step toward the U.K. becoming a “crypto hub” and is in line with the government’s push to use stablecoins […]
China’s digital yuan gets smart contract functionality alongside new use cases
Source: Cointelegraph China’s central bank digital currency (CBDC) — the digital yuan, or eCNY — has received upgrades giving it smart contract functionality alongside a series of newly unveiled use cases. The smart contract function was launched on the Meituan app, a Chinese app offering retail and food delivery services, according to a Jan. 17 report by local […]
Iran and Russia want to issue new stablecoin backed by gold
Source: Cointelegraph The Central Bank of Iran is reportedly cooperating with the Russian government to jointly issue a new cryptocurrency backed by gold. According to the Russian news agency Vedomosti, Iran is working with Russia to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade. The token […]
China’s central bank includes digital yuan in report on currency circulation
Source: Cointelegraph The People’s Bank of China, or PBoC, has begun including the country’s central bank digital currency, the e-CNY, in reports measuring the amount of currency in circulation. According to a 2022 financial statistics report released on Jan. 10, the PBoC said there was 13.61 billion digital yuan — worth roughly $2 billion at the time […]
Nigeria to create legal framework for stablecoins and ICOs
Source: Cointelegraph As one of the world’s pioneers in adopting its own central bank digital currency (CBDC), Nigeria also declares its readiness to accept the existence of private stablecoins. The necessity to create a legal framework for stablecoins is noted in the latest central bank strategy paper. Published under the headline “Nigeria Payments System Vision […]
Russia to begin work on CBDC settlement system as sanctions endure
Source: Cointelegraph Russia’s central bank is reportedly set to begin developing a cross-border settlement system using a central bank digital currency (CBDC) amid ongoing sanctions in response to its invasion of Ukraine. The plans to move forward with Russia’s digital ruble are expected to come in the first quarter of 2023 and will see Russia’s […]
Turkey to use blockchain-based digital identity for online public services
Source: Cointelegraph Turkey plans to use blockchain technology during the login process for online public services. E-Devlet, Turkey’s digital government portal used to access a wide range of public services, will use a blockchain-based digital identity to verify Turkish citizens during login. Fuat Oktay, the vice president of Turkey, announced during the Digital Turkey 2023 […]
China’s CBDC wallet resorts to ages-old tradition to boost adoption
Source: Cointelegraph China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money in an electronic version of traditional “red packets” to try to attract new users. The new feature was released over the weekend, around one month ahead of the Chinese New Year on Jan. 22, as reported by […]
