BIS: Stablecoins vs. Tokenized Deposits – Implications for the Uniqueness of Currency

BIS: Stablecoins vs. Tokenized Deposits - Implications for the Uniqueness of Currency

The modern monetary system rests upon a fundamental concept known as the “uniqueness of currency.” This principle ensures that monetary transactions are not subject to fluctuating exchange rates between various forms of money, whether they are privately issued (e.g., deposits) or publicly issued (e.g., cash). The uniqueness of currency establishes an unequivocal unit of account […]

IDEMIA, Airtel, and Nokia Collaborate for Offline CBDC Payments on Feature Phones

IDEMIA, Airtel, and Nokia Collaborate for Offline CBDC Payments on Feature Phones

IDEMIA, in partnership with Airtel Payments Bank and Nokia’s parent company, HMD Global, has unveiled an initiative to introduce an offline Central Bank Digital Currency (CBDC) payment application for feature phones in India. This collaboration aims to enhance the reach of offline CBDC payments, making it more accessible and convenient for users across the country. […]

UK Regulated Liability Network to experiment with digital pound as tokenized deposits

UK Regulated Liability Network to experiment with digital pound as tokenized deposits

Source: Ledger Insights Earlier this year, the Regulated Liability Network (RLN) made a big splash in the United States with trials involving several banks, Mastercard and the New York Federal Reserve. Now the UK Regulated Liability Network plans to experiment with a retail digital pound backed by commercial bank money or tokenized deposits. The RLN is a blockchain network […]

Transport Operators in Jamaica Eager to Adopt Jam-Dex CBDC

Transport Operators in Jamaica Eager to Adopt Jam-Dex CBDC

Transport operators are expressing their readiness to embrace the central bank digital currency called Jam-Dex, introduced by the Bank of Jamaica (BOJ). If all falls into place quickly, these operators could integrate Jam-Dex into their systems by the upcoming year. Aldo Antonio, the co-founder and acting executive chairman of the National Transporters Alliance Group (NTAG), […]

Axis Bank Empowers Users with UPI Integration in Digital Rupee App

Axis Bank Empowers Users with UPI Integration in Digital Rupee App

Axis Bank, a leading private sector bank in India, has revealed a significant enhancement to its CBDC app, ‘Axis Mobile Digital Rupee’, by introducing UPI interoperability capabilities. This notable feature aims to empower customers to effortlessly utilise the Digital Rupee for settling payments through established UPI QR codes of various merchants. What’s more, this advancement […]

South Korea’s Central Bank to Reveal CBDC ‘Blueprint’ in Upcoming Month

South Korea's Central Bank to Reveal CBDC 'Blueprint' in Upcoming Month

According to a report from cryptonews, the Bank of Korea (BOK), the central bank of South Korea, is gearing up to introduce a comprehensive plan for its Central Bank Digital Currency (CBDC) in the upcoming month of September. This strategic move is aimed at accelerating the advancement of the digital Korean won (KRW) as the […]

Citi Survey Reveals Rising Momentum for CBDCs in Accelerating Settlements

Citi Survey Reveals Rising Momentum for CBDCs in Accelerating Settlements

Escalating approval of Central Bank Digital Currencies (CBDCs) receives reinforcement from ongoing domestic trials and transnational endeavours in diverse jurisdictions, according to a study conducted by the prominent banking institution, Citi. In the context of discussions aiming to truncate local financial settlement cycles within the forthcoming five years, the majority of securities firms are setting […]

Reserve Bank of Australia and Digital Finance CRC Conclude Study on CBDC Implementation

Reserve Bank of Australia and Digital Finance CRC Conclude Study on CBDC Implementation

The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) have collaboratively presented the findings from their joint research initiative, which focused on evaluating the viability of introducing a central bank digital currency (CBDC) in Australia. The report outlines conclusions drawn from the endeavour, which entailed active involvement from the industry […]