Digital Tenge Goes Live: Kazakhstan Launches CBDC
Kazakhstan has officially launched its central bank digital currency (CBDC), the digital tenge, marking a significant step in the country’s financial technology evolution. The chairman of Kazakhstan’s National Payment Corporation (NPC), Binur Zhalenov, made the inaugural transaction with the digital tenge at the XI Congress of Finance in Almaty. This launch promises substantial platform development […]
Singapore’s Central Bank Launching ‘Live’ Trials for Wholesale Digital Currency
The Monetary Authority of Singapore (MAS) has announced the initiation of “live” trials for a central bank digital currency (CBDC) specifically for wholesale settlements. This move is part of a broader initiative to expand trials in asset tokenization and establish the necessary infrastructure for a digital Singapore dollar. The Orchid Blueprint by MAS outlines the […]
India’s Banks Set to Launch Wholesale CBDC by January Next Year
In a significant move towards embracing digital currency, Indian banks are gearing up to launch a wholesale Central Bank Digital Currency (CBDC) by January next year. This initiative aims to cautiously test the infrastructure required for digital currency transactions, specifically targeting small and medium enterprises (SMEs) in its initial phase. A senior bank official explained […]
From NFTs to Smart Contracts: The Digital Pound’s Role in Modernising Car Purchases
Executive Summary The Digital Pound Foundation Use Case Working Group led by William Lorenz has been working together to identify, develop and refine a series of key use cases that can be used to illustrate the potential of a retail digital Pound for the UK citizen. At the time of producing this article, the Use […]
The Future of Finance: BIS General Manager Highlights Cybersecurity in CBDC Development
In a significant gathering convened by the Bank for International Settlements (BIS) in Basel, Switzerland, Agustín Carstens, the General Manager of BIS, underscored the pivotal role of cybersecurity in the realm of Central Bank Digital Currencies (CBDCs). Addressing a global assembly of financial experts, Carstens heralded CBDCs as the cornerstone of a rapidly approaching digital […]
Swiss Central and Commercial Banks Collaborate with SIX Swiss Exchange to Launch Wholesale CBDC Pilot
The Swiss National Bank (SNB) has embarked on a collaborative venture with six commercial banks and the SIX Swiss Exchange to explore the use of wholesale central bank digital currencies (CBDCs), launching a project referred to as the Swiss franc wCBDC. This initiative, known as Helvetia Phase III, is set to evaluate the practicality of […]
Blockchain for Europe Partners with the Digital Pound Foundation to Explore the Geopolitical and Monetary Implications of New Forms of Digital Money
We are pleased to announce that Blockchain for Europe (BC4EU), the membership organisation for companies driving innovation, integrity and empowerment through blockchain, has joined the Digital Pound Foundation as a new strategic partner. Based in Brussels, BC4EU works with policymakers, academics and its member companies to develop a European regulatory framework to support and promote […]
Bank of Korea and Korea Exchange Embark on Groundbreaking DLT and CBDC Trials for Carbon Trading
Bank of Korea and Korea Exchange are initiating a comprehensive exploration of Distributed Ledger Technology (DLT) and Central Bank Digital Currency (CBDC) within the carbon trading sector. This venture is set to unfold through a series of experimental trials, planned for the second half of 2024. Both the central bank and the exchange are well […]
Hong Kong Concludes Initial Phase of CBDC Pilot Program
Hong Kong’s Monetary Authority has successfully completed the first stage of its experimental Central Bank Digital Currency (CBDC) initiative. The report issued on Monday brings clarity to the progress made, although it leaves the future implementation of e-HKD, the retail iteration of Hong Kong’s CBDC, in ambiguity. The pilot project has brought to light several […]
BIS Unveils Comprehensive Guide on Offline Payments for CBDCs
The BIS Innovation Hub has recently published a pivotal high-level design guide for Central Bank Digital Currencies (CBDC) as a part of its ongoing Project Polaris, focusing on the intricate realm of offline payments. Creating an effective offline payment system using CBDC is a formidable task, fraught with challenges and requiring careful consideration of various […]
