Indonesia Wants to Counter ‘Shadow Central Banking’ With CBDC
Source: Blockworks In Indonesia, the central bank has formally laid out plans for a central bank digital currency (CBDC), pitched to combat what it calls rising “cryptoization” of the country’s digital economy. Bank Indonesia’s new CBDC white paper outlines how “shadow currencies” and “shadow central banking” are furthering unregulated credit creation around the world through crypto. Two […]
National Bank of Ukraine releases draft concept for digital hryvnia
Source: Cointelegraph The National Bank of Ukraine (NBU) has introduced a draft concept for its central bank digital currency (CBDC) candidate digital hryvnia, or e-hryvnia. Ukraine’s central bank on Nov. 28 released a statement on the concept of e-hryvnia, which aims to perform all the functions of money by supplementing cash and non-cash forms of the hryvnia as its […]
France, Luxembourg Test CBDC for 100M Euro Bond Issue
Source: Coindesk France and Luxembourg have used an experimental central bank digital currency (CBDC) to settle a bond worth 100 million euros (US$104 million), the latest in a series of trials in tokenized financial markets. The Venus Initiative “shows how digital assets can be issued, distributed and settled within the eurozone, in a single day” […]
The Ripple Drop Ep. 28: Interoperability in Blockchain
Source: Ripple We’ve seen the power and opportunity that lies within blockchain technology through use cases that support cross-border payments, reduce voter fraud, increase the efficiency of supply chain management, and lower healthcare costs. The advancements made possible by blockchain are vast, and leveraging the benefits of multiple blockchain platforms via interoperability can create an even greater impact. On […]
Central bank digital currencies in Africa
Source: BIS This paper, based on a survey to central banks, analyses the development, motivations and concerns of central bank digital currencies (CBDCs) in Africa relative to other emerging and developing regions. The interest of African central banks in CBDCs has shot up in recent times. While all of those surveyed are analysing CBDCs, only […]
Bank of Japan to Run CBDC Experiments With Country’s Megabanks: Report
Source: Coindesk The Bank of Japan (BoJ) has planned experiments on a digital yen with three megabanks and regional banks in the country, Nikkei reported on Wednesday. Starting in the spring of 2023, the BoJ will work with private banks and other organizations to identify any problems with deposits and withdrawals, and check that a central bank […]
BoE’s Cunliffe: FTX collapse demonstrates need for crypto regulation
Source: Investment Week The collapse of FTX provides a “compelling demonstration” of why greater regulation of the cryptoassets space is necessary, said Jon Cunliffe, deputy governor of the Bank of England, in a speech yesterday (21 November). Describing the collapse as “probably the largest – and certainly the most spectacular – failure to date in […]
MAS and the NY Fed join forces for wholesale CBDC experiment
Source: The Banker The Federal Reserve Bank of New York and the Monetary Authority of Singapore (MAS) are collaborating in a project to examine the use of wholesale central bank digital currencies, or wCBDCs, for cross-border payments. The joint experiment, called ‘Project Cedar Phase II x Ubin+’, is a combination of the respective wCBDC initiatives […]
Indian central bank on track to launch retail CBDC pilot next month
Source: CryptoSlate The Reserve Bank of India (RBI), the country’s central bank, is finalizing the rollout of the retail digital rupee pilot, the Economic Times of India (ETI) reported on Nov. 19. The RBI initiated the wholesale central bank digital currency (CBDC) pilot on Nov. 1 to test its usage in settling transactions in government securities. At the time, […]
Britcoin: All There Is To Know With Industry Views From Okcoin, Carta, Tribe Payments and More
Source: The Fintech Times Year in, and year out, people continue to wonder how long the crypto hype is going to continue. The volatility of the market and the crashes it has faced keep leading some to believe that the digital currency’s time has come to an end. But without fail, it always pops back […]
