InvestHK opens CBDC Fast Track programme
Original Source: Finextra Invest Hong Kong has opened its Global Fast Track business matching and pitching portal to the territory’s central bank (HKMA) in a bid to boost the monetary authority’s CBDC research. The CBDC track invites banks, fintechs and tech firms to submit innovative ideas for development in eight focus areas, including retail CBDC […]
Reserve Bank of Australia Starts Pilot to Explore CBDC Use Cases
Original Source: Coindesk The Reserve Bank of Australia (RBA) will develop a “limited-scale” pilot to explore use cases and potential economic benefits of a central bank digital currency (CBDC). Australia’s central bank plans to create a CBDC, which will operate in a ring-fenced environment. A ring-fence environment separates a portion of the user’s financial assets […]
Brazil CBDC trials: farm lending explored by Digital Asset, Oliver Wyman, VERT
Original Source: Ledger Insights In March, Banco Central do Brasil unveiled nine participants in its Real Digital Lift Challenge, a central bank digital currency (CBDC) trial. One of the projects focuses on directed farm lending. Initially, the lending will be in tokenized commercial bank money, which could later switch to have the tokens backed by CBDC. […]
The Bank of Thailand to pilot Retail CBDC by the end of 2022
Original Source: Cointelegraph On top of its wholesale central bank digital currency (CBDC) projects and proof-of-concept Retail CBDC testing with corporates, the Bank of Thailand (BOT) will extend the scope of CBDC development aimed at retail to a pilot phase. A possible real-life application of the “Retail CBDC” will be conducted inside the private sector on a […]
Taking digital currencies offline
Original Source: IMF As the world’s central banks rush to develop digital currencies, almost all the research and trials focus on internet-based technology. What will happen when the web goes down in a war or a natural disaster? And what about the 75 percent of the world’s adult low-income population that doesn’t even have internet […]
Response to HMT Consultation: Managing the Failure of Systemic Digital Settlement Asset (including Stablecoin) firms
The Digital Pound Foundation takes pleasure in responding to this consultation. The DPF is supportive of the UK government’s commitment to place the UK’s financial services sector at the forefront of cryptoasset technology and innovation, and to take a staged and proportionate approach to cryptoasset regulation, which is sensitive to risks posed and responsive to […]
Working Paper Series: Towards the holy grail of cross-border payments
Original Source: ECB Abstract The holy grail of cross-border payments is a solution allowing cross-border payments to be immediate, cheap, universal, and settled in a secure settlement medium. The search for such a solution is as old as international commerce and the implied need to pay. This paper describes current visions how to eventually find […]
Report: IMF Warns Kenyan Central Bank Against Introducing a CBDC That Harms Fintechs and Banks
Original Source: Bitcoin.com The global lending institution, the International Monetary Fund (IMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not stifle such welcome digitalisation developments by taking away customers of […]
Law Commission for England and Wales proposes reforms for digital assets
Original Source: Cointelegraph The Law Commission of England and Wales is proposing a number of law reforms to provide wider recognition and legal protections for cryptocurrency and digital asset users. The institution is reviewing existing legislation on digital assets at the request of the British government in an effort to accommodate the space as it continues to […]
Designing interoperability for a potential UK CBDC
Original Source: UK Finance The Bank of England (the Bank) and HM Treasury are currently considering whether the introduction of a UK retail central bank digital currency (CBDC) would be beneficial for the UK economy and the continued integrity of pound sterling in light of increasing use of digital money. This decision could have a […]
