Banking giants and New York Fed start 12-week digital dollar pilot

Banking giants and New York Fed start 12-week digital dollar pilot

Source: Reuters Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, the participants announced on Tuesday. Citigroup, HSBC, Mastercard, and Wells Fargo & Co are among the financial companies participating in the experiment alongside the New York Fed’s innovation center, they said in a statement. The project, […]

SWIFT sets out blueprint for central bank digital currency network

SWIFT sets out blueprint for central bank digital currency network

Source: Reuters Financial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network following an 8-month experiment on different technologies and currencies. The trial, which involved France and Germany’s national central banks as well as global lenders like HSBC, Standard Chartered and UBS, looked at how CBDCs could […]

Russia plans to use digital rouble in settlements with China, says lawmaker

Source: Reuters After launching a digital rouble early next year, Russia plans to use the currency in mutual settlements with China as it seeks to reduce Washington’s global financial hegemony, a senior Russian lawmaker said on Monday. Russia, like many countries, has been developing digital money over the last couple of years to modernise its […]