IMF working on global central bank digital currency platform
Source: Reuters The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. “CBDCs should not be fragmented national propositions… To have more efficient and fairer transactions we need systems that connect countries: we need interoperability,” Georgieva […]
G7 to discuss digital currency standards, crypto regulation
Source: Reuters Group of Seven (G7) advanced economies will consider how best to help developing countries introduce central bank digital currencies (CBDC) consistent with appropriate international standards, Japan’s top currency diplomat Masato Kanda said on Tuesday. The move will be among key themes of G7 discussions that Japan chairs this year, as part of efforts […]
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
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 […]
Bank of Israel, BIS, Hong Kong cenbank to test retail CBDC feasibility
Bank of Israel still unsure on digital shekel but garners public support
