Demystifying the Digital Pound
The potential of a digital pound has garnered a lot of attention within UK payments, with much research, consultations, whitepapers and thought pieces being developed. However, with so much available it can be difficult to get to the core of the conversation and what it all means. What are the key opportunities presented by a […]
Italian banks launch CBDC pilot project
Source: Finextra The Bank of Italy has launched a pilot to assess the viability of a central bank digital currency (CBDC). The pilot, called Project Leonidas, also involves a 18 Italian commercial banks and the Associazione Bancaria Italiana (ABI). The stated objective of the pilot is to “explore blockchain applications that promote financial stability and […]
Brazilian Central Bank Adds Crypto Exchange Mercado Bitcoin in CBDC Pilot Including Mastercard
Source: Coindesk Brazil’s central bank authorized on Thursday the largest local crypto exchange, Mercado Bitcoin, to participate in the pilot of the digital real, the South American country’s central bank digital currency (CBDC). The consortium led by Mercado Bitcoin counts Mastercard, broker Genial, registrar Cerc and financial software fintech Sinqia as partners, local newspaper Valor reported. […]
Digital Pound Should Be Interoperable with Crypto, U.K. Lobbyists Say
Source: Coindesk Lobby groups and crypto companies in the U.K. are generally welcoming of the government’s plans for a digital pound, but some of them believe the currency should be interoperable with crypto in order to be suitable for the future. The U.K. opened its plans for a digital pound for public comment in February, just as […]
Central Bank of Nigeria approves CBDC use for remittances
Source: Ledger Insights Last week, the Central Bank of Nigeria announced the introduction of the eNaira as a payment option for inbound remittances in an effort to help increase the adoption of the central bank digital currency (CBDC). The move comes after the ousting of the central bank’s Governor earlier this month, which cast doubts over the future of the CBDC […]
Amazon Collaborating in Pilot Program for New CBDC Proposed by IMF and Central Banks
Source: The Daily Hodl The Monetary Authority of Singapore (MAS) has published a whitepaper that proposes conditions for the use of central bank digital currencies (CBDCs), tokenized bank deposits and stablecoins. The whitepaper was produced in collaboration with the International Monetary Fund (IMF), Banca d’Italia, and the Bank of Korea, and is currently paired with […]
DPF Response to the Consultation on the digital Pound and accompanying Technology Working Paper
The Digital Pound Foundation (DPF) takes pleasure in responding to the Bank of England and HM Treasury’s (HMT’s) Consultation on a Digital Pound (the “Consultation”), and to the Bank of England’s accompanying Technology Working Paper on the digital pound. The DPF’s stated remit is to advocate for and support the implementation of a well-designed digital […]
IMF promotes XC platform for tokenized cross border payments
Source: Ledger Insights Yesterday, the IMF published a paper building on last year’s proposal for XC, a platform to create a global centralized ledger for cross-border payments. The platform would allow commercial banks and other payment providers to participate alongside central banks and likely forgo the need for multiple wholesale central bank digital currency (CBDC) projects. Although a […]
EU Legislation for Digital Euro Is Put on Hold
Source: Coindesk European Union legislation needed to underpin a digital euro, originally due to be published June 28, has been put on hold, CoinDesk has been told. The move follows the leaking of the draft bill, which covers privacy and technical issues for the central bank digital currency (CBDC), and a statement by finance ministers […]
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 […]
