Spanish Banks Investigate Merging of Digital Euro into Current Payment Frameworks
Whilst the future of the digital euro is still unknown, some Spanish banks have recently unveiled the outcomes of their digital euro trials, prominently featuring their experiments with Bizum, the bank-backed payment app that’s familiar to half of Spain’s populace. Prominent Spanish banking institutions like Santander, BBVA, CaixaBank, and Sabadell actively engaged in this trial. […]
HKMA: Project mBridge set for minimum viable product by the middle of 2024
The Hong Kong Monetary Authority (HKMA) has unveiled that the mBridge project is expected to introduce a minimum viable product by the middle of 2024. If mBridge’s implementation is successful, it may pose a challenge to Swift’s leading payment system and could influence similar shifts in payment methods across different regions. Developed in partnership by […]
Debating the Digital Euro: ECB’s Christine Lagarde Assures Delay Amid Concerns
Those keenly watching the European Central Bank (ECB) for a definitive stance on the digital euro might have to wait longer than expected. The digital finance realm and policymakers received varied signals from the ECB, wrapping up its two-year study on a consumer-centric central bank digital currency (CBDC). Stefan Berger, a notable figure from the […]
Nigeria’s Central Bank Reinforces Trust in Its Digital Currency Amid Speculation
The Central Bank of Nigeria (CBN) reaffirmed its trust in its central bank digital currency (CBDC), known as the eNaira, in a recent statement. This response comes in the wake of concerns about the digital currency’s impact on the country’s financial framework. Last month, the Bank shared insights into the financial implications of integrating a […]
The Decline of Cash: CBDC’s Potential Role in Modern Canadian Banking
The Bank of Canada recently released a study delving into the challenges related to financial inclusivity that a potential Central Bank Digital Currency (CBDC) might face. This study highlighted obstacles prevalent among rural residents, indigenous groups, low-income households, and individuals with disabilities. Interestingly, a previous report had expressed doubts about the need for a CBDC, […]
Bank of Korea & BIS Collaborate on Wholesale CBDC Pilot, Tokenized Deposits, Unified Ledger
The Bank of Korea (BoK) is teaming up with the Bank for International Settlements (BIS) to launch a pilot program for a wholesale central bank digital currency (CBDC). The initiative is geared towards utilising it as a settlement asset for tokenized deposits by commercial banks. The pilot will also delve into the Unified Ledger concept […]
Exploring the Potential of Digital Assets in Wholesale Markets | Poundcast Episode 11
In this episode of Poundcast, Jannah Patchay speaks with Duncan Trenholme, Managing Director and Global Co-Head of Digital Assets at TP ICAP. They discuss why TP ICAP became interested in digital assets for wholesale markets and the potential barriers to mass adoption. Duncan shares insights on settlement, wholesale central bank digital currencies, and the transformative […]
Ripple’s Contribution to CBDC Landscape Celebrated at Juniper’s 2023 Awards
Ripple has been bestowed with two significant accolades by Juniper Research in the esteemed Future Digital Awards for Fintech & Payments 2023. Amid an unprecedented number of entrants this year, Ripple emerged as a clear leader in the following categories: Ripple’s CBDC platform endeavours to provide a safe, sustainable, and smooth end-to-end solution tailored for […]
Ripple Labs shortlisted by National Bank of Georgia for Digital GEL CBDC Project
The National Bank of Georgia (NBG) has recently named Ripple Labs, among eight other contenders, as potential tech collaborators for its impending Central Bank Digital Currency (CBDC) pilot project, named “Digital GEL”. On September 28, 2023, NBG released an official statement expressing its plan to launch a “Limited Access Live Pilot Environment”. This is intended […]
Chinese Institutions Use Digital Yuan for Gold Recycling and Land Registry Payments
The Shenzhen Branch of the People’s Bank of China (PBoC) has collaborated with the Shanghai Gold Exchange to pioneer a gold recycling initiative powered by China’s Digital Yuan CBDC. Other contributors to this project include the Shenzhen Futian District local government, the Shenzhen Branch of the China Construction Bank, and Jinyafu, a gold trading company. […]
