BIS and central banks of France, Singapore and Switzerland to explore cross-border CBDC trading and settlement using DeFi protocols
Source: BIS The BIS Innovation Hub is launching a new project around central bank digital currencies (CBDCs) and Decentralised Finance (DeFi) protocols as part of its 2022 work programme. Project Mariana explores automated market makers (AMM) for the cross-border exchange of hypothetical Swiss franc, euro and Singapore dollar wholesale CBDCs. It will seek to examine the potential […]
Transformative Potential: Digital Money in Wholesale Markets | Poundcast Episode 3
Description In episode 3, our host Jannah Patchay, Policy Lead and originating member of the Digital Pound Foundation, speaks to Olaf Ransome, founder of 3C Advisory and also known as The Banker’s Plumber. In this interview, we turn our attention to the applications of new forms of digital money in wholesale markets. As we’ll see, […]
The Benefits of a True Risk-Based Approach to Digital Onboarding
Written by: Claire Conby, Chief Risk Officer & Executive Director at Billon Financial Ltd, and Operations and Governance Lead at Digital Pound Foundation Introduction Striving to achieve a robust risk management framework without detriment to the user experience is at the forefront of Billon’s compliance mindset. In my role as Chief Risk Officer, I have […]
India’s Central Bank to Start Wholesale CBDC Pilot Nov. 1
Source: Coindesk India’s central bank will introduce a pilot wholesale central bank digital currency (CBDC) Nov. 1, and a retail version will start within a month. In a statement, the Reserve Bank of India (RBI) said the use case for the wholesale digital rupee is the “settlement of secondary market transactions in government securities” because it […]
Digital Money and Central Banks Balance Sheet
Source: IMF Digital money is a logical step in a process of continuous technological advancement in payment systems. In response, central banks are reviewing their conduct of monetary operations in light of the new shape of financial markets and systems. The impact of digital money will depend on the type of money substitution by digital […]
Here Are Rishi Sunak’s Most Urgent Crypto Tasks as UK Leader
Source: Bloomberg As Chancellor of the Exchequer, Rishi Sunak outlined an ambitious plan to turn the UK into a crypto hub. As prime minister, he’ll be under pressure to deliver on that pledge while at the same time containing an economic crisis. Crypto executives and investors interviewed by Bloomberg News greeted Sunak’s appointment with cautious […]
BIS releases full report on mBridge wholesale CBDC platform after successful pilot
Source: Cointelegraph The Bank for International Settlements (BIS) has released the full details of its mBridge pilot project to use central bank digital currencies (CBDCs) for foreign exchange. Commercial banks in four jurisdictions made cross-border transfers using CBDCs and distributed ledger (blockchain) technology in the project, which was heralded as a success. Twenty commercial banks in Hong Kong, […]
UK Stablecoin Rules Approved by Lawmaker Committee
Source: Coindesk U.K. lawmakers agreed on new rules for stablecoins on Thursday – as the government promised to consult on further crypto regulations and a digital pound in the coming weeks. In April, Rishi Sunak – at the time finance minister, but since promoted to prime minister – said he wanted to make the U.K. […]
Kazakhstan to build central bank digital currency on BNB Chain
Source: Cointelegraph In an announcement on Twitter, Changpeng Zhao, the founder and CEO of Binance, said the network will be a major component of Kazakhstan’s latest Web3 endeavor. The Binance founder tweeted that the National Bank of Kazakhstan (NBK) will integrate its central bank digital currency (CBDC), the digital tenge, on the BNB Chain, the underlying blockchain […]
Central Bank of Turkey Plans to Launch a CBDC in 2023
Source: Coindesk Turkey is poised to launch a central bank digital currency (CBDC) next year. Turkey’s Presidential Annual Program for 2023, presented on Monday by the Presidential Strategy and Budget Directorate, contains the discussion of a central bank digital currency. The announcement came a year after Turkey’s central bank announced in September 2021 that it […]
