Russia Adjusts Digital Rouble Rollout, Mandating CBDC Acceptance by July 2025
Elvira Nabiullina, the Governor of the Bank of Russia, has confirmed that the digital rouble, the nation’s central bank digital currency (CBDC), remains on track for its mass rollout in July 2025. This announcement follows adjustments to the digital rouble’s pilot programme and new obligations for banks and merchants regarding CBDC adoption. Earlier reports indicated […]
BoE and FCA Invite Applications for UK’s Digital Securities Sandbox
In January, the UK introduced new legislation establishing a five-year Digital Securities Sandbox (DSS) that temporarily eases certain legal requirements to enable the exploration of emerging technologies, including distributed ledger technology (DLT) experimentation. Today, the Bank of England and the Financial Conduct Authority (FCA) have opened applications for participation in the sandbox. In traditional markets, […]
Bank Indonesia Unveils Vision for Digital Rupiah CBDC
Bank Indonesia has unveiled its Indonesian Payment System Blueprint (BSPI) 2030. Among the five key initiatives is the development of its central bank digital currency (CBDC), known as the digital rupiah. Bank Indonesia had previously disclosed a three-stage proof of concept for the CBDC. The initial stage, completed in the first half of 2024, involved […]
First sovereign digital bond issuance in the EMEA region: Bank of Slovenia, BNP Paribas, and Clifford Chance
Yesterday, Slovenia issued a €30 million short-dated digital bond on the BNP Paribas Neobonds platform. Settlement utilised the Banque de France’s wholesale central bank digital currency (CBDC) as part of the Eurosystem’s wholesale Distributed Ledger Technology (DLT) settlement trials. This marks the first sovereign digital bond issuance in the EMEA region. While the European Investment […]
Italian Banking Association Reports Success in Wholesale CBDC Trial Project Leonidas
The Italian Banking Association (ABI) has announced the successful trial of a wholesale central bank digital currency (wCBDC) known as Project Leonidas, conducted as part of the Bank of Italy’s sandbox. The trial, which took place last year, highlighted benefits such as atomic transactions, transparency, and information traceability. The testing phase occurred in 2023, prior […]
Project mBridge Enters MVP Phase and Welcomes New Member: Central Bank of Saudi Arabia
The mBridge cross-border central bank digital currency (CBDC) project has advanced to the minimum viable product (MVP) stage, the initial production phase. This initiative, a collaboration between the Bank for International Settlements (BIS) Innovation Hub and the central banks of China, Hong Kong, Thailand, and the UAE, recently welcomed the Central Bank of Saudi Arabia […]
Bank of Israel Launches Digital Shekel CBDC Challenge
The Bank of Israel has launched its Digital Shekel Challenge, following the recent announcement of a central bank digital currency (CBDC) sandbox. This initiative invites participants from both Israel and abroad to develop innovative use cases for the digital shekel. Drawing inspiration from the BIS and Bank of England’s Project Rosalind, the Challenge aims to […]
Banco Central do Brasil Postpones DREX CBDC Initiative for Further Privacy Research
Last week, the Banco Central do Brasil officially announced a delay in its DREX central bank digital currency (CBDC) project, citing the need to further explore privacy solutions. In the interim, the bank plans to commence phase two, which will broaden the range of use cases. A call for suggestions is expected in the third […]
Bank of Japan’s CBDC Update: New API Sandbox for Digital Yen Development
The Bank of Japan (BoJ) recently shared insights from an interim report on its ongoing exploration into a central bank digital currency (CBDC), highlighting the launch of a CBDC API Sandbox earlier this month. This new phase of development draws inspiration from the Bank of England’s Project Rosalind and represents an advancement from the two […]
Project Agorá launched with seven central banks, featuring USD, Euro, GBP, and Yen CBDC digital currencies
Project Agorá was launched this week by the Bank for International Settlements (BIS) Innovation Hub, aiming to transform cross-border payments using tokenization. This initiative is aligned with the novel concept of a Unified Ledger, aiming to harmonise the efforts of seven central banks along with commercial banks on a unified, programmable platform designed to streamline […]
