Palau’s Inaugural Blockchain Summit: Building on Ripple’s CBDC Partnership and Web3 Innovation Drive
The picturesque island nation of Palau is setting the stage for its inaugural event, the Palau Blockchain Summit. This summit signifies Palau’s stride into the realm of blockchain technology, with a focus on accelerating the nation’s digital transformation. By embracing various Web3 initiatives and collaborating with industry leaders, Palau aims to position itself as a […]
Brazil’s CBDC Pilot Phase Attracts Nubank, Microsoft, Visa, and SETL Among Leading Participants
In a significant development, Brazil’s central bank has unveiled its selection of 16 proposals to participate in the pilot phase of the Drex CBDC project. This notable roster of participants includes prominent names such as Nubank, Microsoft, Visa, and SETL. Brazil has been diligently advancing its digital real initiative over the course of several years, […]
Zimbabwe In Advanced Stages of Implementing Gold-Backed Digital Currency (GBDT)
The Reserve Bank of Zimbabwe (RBZ) has announced that it is in the advanced stages of implementing the Gold Backed Digital Tokens (GBDT) as a new form of currency for everyday transactions. These digital tokens, backed by gold, have been introduced with the dual purpose of strengthening the national currency and providing an alternative investment […]
Japanese Startup Soramitsu Harnesses CBDCs and Stablecoins for Cross-Border Payments
Japanese Blockchain startup, Soramitsu, is embarking on a venture that involves harnessing stablecoins and central bank digital currencies (CBDCs) to forge connections among various Asian nations. Soramitsu’s initiative revolves around a cross-border payment system tailored for Asian countries. The company plans to integrate Cambodia’s CBDC and fiat-pegged stablecoins into its payment network, with a specific […]
Why do we need a digital Pound?
On 28th June 2023, the Digital Pound Foundation hosted an in-person roundtable consisting of a selection of our Use Case Working Group members and external participants. The purpose of the roundtable was to share some of the potential use cases we have been developing for the digital Pound and gather feedback from the external participants. […]
Brazil’s DREX: Unveiling the Central Bank’s Digital Real CBDC
The Central Bank of Brazil has unveiled the official name for its central bank digital currency (CBDC) in a recent announcement. The CBDC will be known as DREX, which stands for Digital Real Electronic Transaction, as revealed during a live broadcast on the bank’s YouTube channel. Fábio Araújo, the coordinator of the digital real, and […]
China Minsheng Bank and JD.com Collaborate to Introduce Digital Yuan Payment Service
China’s Minsheng Bank has revealed a strategic partnership with JD.com, a prominent e-commerce giant with a strong interest in central bank digital currencies (CBDCs), to inaugurate a digital payment service powered by the digital Chinese Yuan (CNY). In a recent report by Shzhidao (via Sohu), Minsheng Bank’s customers located within the CBDC pilot zone can […]
Honduras Initiates Consultation for Central Bank Digital Currency (CBDC) to Drive Financial Inclusion
The Central Bank of Honduras has embarked on a comprehensive two-month consultation period to explore the potential implementation of a retail-oriented Central Bank Digital Currency (CBDC). The primary focus of this initiative is to enhance financial inclusion, with a particular emphasis on facilitating cross-border transactions, specifically remittances. In collaboration with the International Monetary Fund (IMF), […]
Belarus Gears Up for Launch of Cross-Border CBDC, Drawing Inspiration from Russia’s Digital Ruble
In a move mirroring Russia’s efforts, Belarus is poised to introduce its own Central Bank Digital Currency (CBDC), a digital rendition of the Belarusian ruble, aimed at facilitating cross-border transactions. Reports from Minsk-Novosti and Interfax reveal that the National Bank of the Republic of Belarus (NBRB) considers the upcoming CBDC launch as a pivotal milestone […]
Visa Extends CBDC Knowledge Exchange with Azerbaijan’s Central Bank
A top executive at Visa has disclosed the company’s collaborative effort with the Central Bank of Azerbaijan to share expertise in Central Bank Digital Currency (CBDC). Cristina Doros, Vice President and Regional Manager for Visa in Central Asia and Azerbaijan, spoke with Trend in a recent interview, highlighting an open and productive dialogue between Visa […]
