eCurrency extends CBDC deal with Bank of Jamaica for rollout
Source: Ledger Insights Yesterday eCurrency announced it has signed a long term partnership with the Bank of Jamaica for the national rollout of its central bank digital currency (CBDC) known as JAM-DEX. eCurrency originally partnered with the central bank for its five-month retail CBDC pilot, which started in August last year. Technically JAM-DEX went into production on April 1 this […]
Banking giants and New York Fed start 12-week digital dollar pilot
Source: Reuters Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, the participants announced on Tuesday. Citigroup, HSBC, Mastercard, and Wells Fargo & Co are among the financial companies participating in the experiment alongside the New York Fed’s innovation center, they said in a statement. The project, […]
Ripple’s CBDC Innovate Awards $150,000 to 6 Winners for Novel CBDC Apps
Source: Ripple Ripple is currently engaged with central banks around the world to better understand their goals and assess how Ripple’s CBDC solution can help them achieve those goals. We believe CBDCs will be a game-changer for Central Banks, enabling better interoperability of payments & transfers, accelerating retail-facing transactions, and promoting inclusive financial frameworks for digital assets. […]
DPF First Year Anniversary
Hosted: 15 November 2022Location: London, UKNo. Attendees: 124 Panellists included: Susan Friedman (Ripple), Claire Conby (DPF), Jannah Patchay (DPF), Christian Walker (Poundtoken), Marjan Delatinne (SETL), and Keith Bear (Judge Business School, University of Cambridge). On the first anniversary of the launch of the Digital Pound Foundation (DPF), we were delighted to welcome cross-industry participants to […]
‘Missing the big picture’: Zerodha’s Nikhil Kamath responds to critics of RBI’s e-rupee trial
Source: Mint This month the Reserve Bank of India (RBI) made a historic decision for India’s banking ecosystem. The federal bank started a pilot program of its digital currency allowing select banks to use it for settling secondary-market transactions in government bonds. The RBI Governor termed the launch of the central bank digital currency (CBDC) as a […]
David Chaum Rolls Out Privacy-Protecting CBDC Technology
Source: Coindesk Will central bank digital currencies (CBDCs) replace cash and bank transfers in the future? And will they be an ultimate tool for financial surveillance and control, or is another, more benign future possible? David Chaum, creator of the Bitcoin predecessor eCash and, more recently, the Elixxir cryptocurrency, believes the democratic world can have a version of […]
IMF proposes DLT, DeFi-inspired alternative to cross border CBDC
Source: Ledger Insights Last week the IMF published a paper on X-C, a platform for cross border payments, co-authored by the IMF and members of MIT’s Digital Currency Initiative. The solution proposes a global centralized ledger for cross border payments in which central banks, banks and payment providers participate. An X-C platform would not just centralize payments and […]
NY Federal Reserve testing CBDCs to improve foreign exchange transactions
Source: CoinGeek The New York Federal Reserve (NY Fed), in conjunction with the Bank for International Settlements (BIS) Innovation Hub, is looking into the use of central bank digital currency (CBDC) to streamline the settlement times of foreign exchange (FX) transactions. The exploration is part of Project Cedar, an experiment conducted by the BIS to test the […]
Bank of Korea finds performance issues with CBDC blockchain tech
Source: Ledger Insights The Bank of Korea completed the second phase of its retail central bank digital currency (CBDC) simulations in late June and today shared the results. While it was happy with some aspects of its digital won simulations, such as using CBDC for offline payments and cross border remittances, the central bank highlighted performance issues with the […]
MAS Launches Expanded Initiative to Advance Cross-Border Connectivity in Wholesale CBDCs
Source: Monetary Authority of Singapore (MAS) The Monetary Authority of Singapore (MAS) today launched Ubin+, an expanded collaboration with international partners on cross-border foreign exchange (FX) settlement using wholesale central bank digital currency (CBDC). Ubin+ will focus on the following: As part of Ubin+, the following projects will be undertaken with international partners:
