Jamaica to drive CBDC adoption with e-commerce marketplace
Source: Ledger Insights Earlier this month, Jamaican Senator Aubyn Hill announced the creation of a “digital marketplace” for e-commerce to enable consumers to pay with the country’s central bank digital currency (CBDC), the JAM-DEX. Digital marketplace aims “We have various payment platforms in the marketplace now such as Lynk and Jam-Dex. However, there are still not […]
IMF says global interest in CBDC ‘unprecedented’. Already helped 30 countries
Source: Ledger Insights Yesterday, Bo Li, the Deputy Managing Director of the International Monetary Fund (IMF), described the level of interest in central bank digital currency (CBDC) as ‘unprecedented’. Forty countries have approached the IMF for assistance and it has engaged with almost 30. The IMF sees one of its roles as CBDC capacity development. It released a paper […]
Switzerland planning stablecoin and live wholesale CBDC pilots
Source: Ledger Insights Last week the Swiss National Bank (SNB) outlined its Swiss payments vision. The central bank has already conducted various wholesale central bank digital currency (CBDC) tests. Now it plans to issue a real wholesale CBDC on the SIX Digital Exchange (SDX) for a limited time. It is also exploring a private token […]
UK Treasury minister says wholesale stablecoin will precede CBDC
Source: Ledger Insights The UK’s Treasury envisages a private wholesale stablecoin launching before a central bank digital currency (CBDC). Enabling legislation, the Financial Services and Markets Bill (FSM), covers stablecoins and is expected to pass around April. If the Bank of England launches a CBDC, the first use case is likely to be interbank settlements using a wholesale CBDC. […]
Australia’s CBDC partner sees advanced economies issuing wholesale CBDCs first
Source: Ledger Insights Digital Finance CRC (DFCRC), the research organization working with the Reserve bank of Australia on a central bank digital currency (CBDC) pilot, published a report on the state of CBDC globally. For advanced economies, it believes that wholesale CBDCs are likely to be issued before retail ones. And it raised a few areas where […]
Bank of Canada plans 2023 CBDC consultation as it moves to development
Source: Ledger Insights Bank of Canada Governor Tiff Macklem spoke yesterday about a potential Canadian central bank digital currency (CBDC). Next year the bank plans to consult the public on a potential CBDC. Particularly they want to find out what the public’s expectations of a digital currency and what features would be important to them. As […]
eCurrency extends CBDC deal with Bank of Jamaica for rollout
Source: Ledger Insights Yesterday eCurrency announced it has signed a long term partnership with the Bank of Jamaica for the national rollout of its central bank digital currency (CBDC) known as JAM-DEX. eCurrency originally partnered with the central bank for its five-month retail CBDC pilot, which started in August last year. Technically JAM-DEX went into production on April 1 this […]
IMF proposes DLT, DeFi-inspired alternative to cross border CBDC
Source: Ledger Insights Last week the IMF published a paper on X-C, a platform for cross border payments, co-authored by the IMF and members of MIT’s Digital Currency Initiative. The solution proposes a global centralized ledger for cross border payments in which central banks, banks and payment providers participate. An X-C platform would not just centralize payments and […]
Bank of Korea finds performance issues with CBDC blockchain tech
Source: Ledger Insights The Bank of Korea completed the second phase of its retail central bank digital currency (CBDC) simulations in late June and today shared the results. While it was happy with some aspects of its digital won simulations, such as using CBDC for offline payments and cross border remittances, the central bank highlighted performance issues with the […]
FIS is latest payments firm to launch CBDC Lab
Original Source: Ledger Insights Yesterday FIS, the banking sector solution provider, announced plans to help central banks to launch central bank digital currencies (CBDC) through its CBDC Virtual Lab, which is in collaboration with digital payments startup M10 Networks. The Lab will let central banks, commercial banks and payment firms experiment and pilot CBDC issuance, payments, programmable […]
